Visa looking to help small businesses go cashless

NEW YORK (AP) — Visa is looking to push more small businesses into updating their digital payment technology, offering up to $10,000 each to 50 U.S.-based small business owners that are committed to going cashless.

The program will focus on restaurants and food establishments, Visa said Wednesday, with the expectation that Visa will expand the program in the coming months and years to other industries and possibly other countries as well.

Despite the proliferation of credit and debt cards, and the advent of technologies like Apple Pay and Samsung Pay, cash remains a significant method of payment in many industries across the U.S. and around the world. Going completely cashless often requires upgrades to current point-of-sale systems, which remains an impediment for many small businesses, which is largely where cash remains king.

"We are declaring war on cash," said Andy Gerlt, a spokesman for Visa.

To participate in Visa Inc.'s Cashless Challenge, small business restaurants, cafés or food truck owners will need to describe what cashless means for them, their employees and customers.
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m.seattlepi.com...

VISA declaring a "war on cash". This new program that VISA is implementing will offer $10,000 U.S.D. to 50 small businesses as long as they change into a cashless business. Meanwhile VISA is doing this not because they are a charitable institution, but rather because it benefits them, i wonder what negative effects would a "cashless society" have on most of the population of the world.

There is more to consider than what "credit card and banking institutions" claim is the main reason for implementing such "cashless society". In the eyes of the globalists, credit card and banking institutions a "cashless society" would only affect "the black market", and they claim this would be the main reason for "the war on cash".

But how would such "cashless society" affect most people? How would it affect people that want to have a percentage of their savings in precious metals like silver and gold? What would happen to people's savings under a "cashless society" if the government, or global government implement wealth confiscation in the name of "the good of the country" or "for the good of the global society"?

A lot of people to this day still prefer to to have some cash at hand for emergencies and what not. Also many people still to this day prefer to keep safe cash with in their own homes. More so because we keep seeing signs of "wealth confiscation" in several countries.

For example the wealth confiscation that occurred in Cyprus. Why A Cyprus-Like Seizure Of Your Money Could Happen Here

Heck, Lars Christensen, the head of Saxo Bank stated in an interview with "Telegraph" that there will be more confiscation of savings in the Eurozone.

'There will be more wealth confiscation, without a doubt'

By Richard Evans

11:35AM BST 30 Apr 2013

European politicians will take the "easy option" of taking money from the rich rather than raising taxes and cutting spending to deal with the continent's debt problem, Lars Christensen, the head of Saxo Bank, said.

Asked if the raid on uninsured savings in Cyprus would be repeated, he told City AM: "There will be future bail-ins [loss of deposits] and other types of confiscation of wealth in the eurozone, without a doubt.

"There's no other realistic way forward if politicians continue to fail to deal with the basic indebtedness problem across Europe. They will either have to raise taxes and cut spending, or politicians will take the easier route and take money from the rich."
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Who would actually benefit from a Cashless Society?

While there will be people who will claim this will only affect the rich, the fact is under another "banking crisis", or other created crisis it won't be just the savings of rich people that will be confiscated "for the good of society, the Earth, blah blah blah".

If all your savings are in a bank, and all your savings are in digital form you have no real control over your savings, and that's the real reason behind the "push towards a cashless society".

What say you members of ATS?

They will get their money back quickly. It costs about four percent for a business to accept a card, sometimes even higher for small businesses. A thousand a day in sales of merchandise gives about forty bucks a day to Visa. Like I said, it won't take them long to get their money back. One year and they will have their money back.

It would keep the poor, homeless, and anyone else with a terrible credit rating from having the ability to even feed themselves.

The mark of the beast, you don't have one you will be sheep dip out of luck.

a reply to: ElectricUniverse

I only use cash unless I purchase something online.

I hate plastic and only use debit cards if I don't use cash.

They just want to know what everyone is buying.

In so many businesses, cash will still be king.
Let's face facts that the tax "advantages" that king cash presents to 'some' small businesses, are mutually exclusive to any credit card solutions they would consider, or want.

a reply to: Metallicus

Same here..Visa can suck it..suck it hard.

It´s the war of the rich PTB against the population, the potential terrorists.

Your opinions are different from the rulers opinions?
Ohhh, somehow there are no credits anymore on your account.

How could that just happen...

cash is king.
in God we trust, all others pay cash.
cash, ___ , or ____ no one rides for free.

a reply to: ElectricUniverse

I can see this causing problems really. I'd say robbery would be on the up for one. if people can't eat because they don't have 'cash' anymore, they'll be hunting down those who use cards and those they see with grocery bags!

Drug dealers & Prostitutes won't be able to do cash deals either, so they'll be wanting some other type of payment and they won't be able to do that by card.

a reply to: ElectricUniverse

See Bitcoin was invented to deregulate and decentralize physical (fiat) cash, backed by central banks.

But the banksters got wise and decided they wanted to implement the blockchain technology for their own nefarious purposes before the underground financial revolution could take place.

a reply to: TruthxIsxInxThexMist

Bitcoin is the answer though I doubt the guys in charge will allow bitcoin and such to exist for much longer.

But thinking on some small businesses could benefit from this, If I had a coffee shop near a business district I would think about it.
I don't want to get rid of cash but I can see in this day and age some small businesses befitting thats all.

Heck at least it would free up the cashing up and cashing down everyday. (hated that bit count 3k and if it is a fiver out start again...grrr).

a reply to: testingtesting

Bitcoin is the answer though I doubt the guys in charge will allow bitcoin and such to exist for much longer.

It will only reappear under another guise, same concept only more resilient to corruption.

I used to be an all cash person when I had my businesses but I am now almost always without cash. It doesn't make sense with the amount of travel I do and the volume of expenses I incur on a monthly basis. Plus I get to double dip on the points/miles by putting it on my United card so it works out even better.

a reply to: AugustusMasonicus

Plus I get to double dip on the points/miles by putting it on my United card so it works out even better.

See?

So there are incentives to adhering legally to the system in place, for the most part.

originally posted by: ColdWisdom
See?

So there are incentives to adhering legally to the system in place, for the most part.

Yeah, if you know what to look for travel wise you can book yourself an award miles round trip first class domestic ticket for under 50,000 miles.

I get money back on my credit card, too- but cash less isn't something to strive for.

If I ever see a business that doesn't accept cash, I won't do business with them. Unless, of course, USD fails and we don't have a choice... Which is where I see it going.

The next currency will be out of our hands, quite literally.

Well, in the UK with chip and PIN debit cards and contactless payment, I could live a life without cash. At least I can when I go to London. In the sticks where I live such tech has not reached my local pub, so still need cash.

At the end of the day cash is on it's way out.

a reply to: lordcomac

The next currency will be out of our hands, quite literally.

Gold, Weed, Slave Children, and Cocaina will always be available as black market currencies.

Cash is so old school. I never carry cash; that way, if I get mugged, they aren't getting anything of value. I have 2 cards, a debit card and a cash rewards card. I use the cash rewards card for every single purchase monthly and then get a nice deposit into my savings account once a month (approximately $50/per). I only ever use cash in situations that are cash only; that is what the ATM card is for.

If all your savings are in a bank, and all your savings are in digital form you have no real control over your savings

Not true at all. I can withdraw part or all of my funds at any time I wish; I have access to 24 hour banking online and could transfer all of my funds at any time. Conversely, if my cards show suspicious activity, my bank notifies me immediately and places a hold on my card until they speak with me. They also are more that happy to refund my money immediately if I report a fraudulent charge.