The Conspiracy Theory: A cashless society on the rise

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SPONSORED POST: A controversial subject couldn’t get away with no conspiracy theory. And when it’s all about the money, it surely gets a lot of attention.

Looking at our normal lives, we must admit that every day we eat, drink, sleep and do other more things, while also spending money. Not spending money for a full week sounds out of this world, right?

We end up spending almost all the money we make during our lives, be it cash, on credit or debit cards and so on.

Let’s see what the cashless conspiracy is about.

The Cashless Conspiracy Theory

Technology has progressed and people have begun using online and mobile banking, causing many branches to close. We purchase so many things with cards or our mobiles, that we don’t have cash. Is it a conspiracy behind this trend? What’s to gain behind it all?

The answer can be found by looking at how much money the credit card companies and banks are gaining in fees: $1 trillion per year from fees.

The government is also trying to make the rail travel cashless by 2025, meaning we’re going to buy tickets with a credit card or with a mobile phone.

Parking, tolls on bridges and roadways also have apps for getting paid through cards.

The cashless conspiracy is not only pushed by the government but by other different businesses: restaurants, shops, and pubs receive credit card payment. Some places even accept only credit card and no cash.

Add these facts on top of the fact that credit card payments can be traced. You’ll provide data about where, when and how much you spend on certain things.

This is exactly what companies want to know so that they can create products that target our needs and push ads to sell their services or products. Searching for a product on the internet will generate future ads similar to what you looked for, and we’ve all seen it on google and Facebook.

What about Loyalty Cards?

It’s great to be rewarded, but you get those cards because you keep buying from that store, restaurant and so on. Your shopping is tracked so that retailers can send vouchers and coupons to get you coming back and buy some more.

And if you’re buying too much via credit card, the HMRC has to look into how you’re getting the money, because they know how much you can afford to spend.

Does Cashless Sound Good?

It might sound great not worrying about too much money in your pockets. But what’s going to happen if there are some technical issues like halted payments because of a bank issue?

This method of payment relies on computers and technology functioning all the time of the year. If something goes wrong, a cashless society would be chaotic.

Originally posted on Here is the full article.

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