I am absolutely confident that we are on the verge of a tipping point regarding the eventual elimination of cash from our economy. As long as there is a national regime of privacy legislation, the security and integrity of the internet is assured, powerful institutions such as state and federal governments will seek and obtain taxes in full in future. This will help to fund our treasury and help to pay for community infrastructure, the operation of federal and state departments, all government projects, and policy developments. In addition, governments will not have to bear the cost of printing, manufacturing, storing, and transporting cash.

A cashless society does not have to be the policy of any political party or government instrumentality. It does not have to be something that is forced on any nation that is not broadly accepting and ready for it. It should only be achieved after a plethora of wide-ranging national debate. It will broadly come of its own accord through technological evolution, safety and convenience. The public will increasingly demand its security, integrity and its many advantages such as reduced queuing time for payments using payWave, PayPass, or ExpressPay, with a plastic card or a smart phone.

Yuyutsu, your comment is quite inane. In order to prevent anybody starving to death, use a debit card or a credit card. If you have a smart phone with an NFC chip or an iPhone with access to iBeacon, you can buy some food with this in order to prevent death.

Dear John,

I do not have a mobile phone, never had, never will, as I believe it is immoral.

I am using cash in all face-to-face transactions. I also have debit cards for the ATM and internet purchases. So far my debit cards have no electronic chips - in the one that had, the chip was removed: if it will no longer be possible to buy groceries without carrying electronic chips, then I will be out of food and die.

I have never hidden any income from the tax-office, even when received in cash, but you go ahead and care for social justice, ensuring that the last drop of tax is milked in order to support the starving poor.

John the banks are getting too greedy.

Not content with paying stuff all interest on our deposits, they want too much interest on credit cards, & too much from merchants when we use them, or debit cards.

For years now some of the local merchants have preferred I pay by cheques, avoiding the bank fee. I gather some banks now want a slice of that payment too, not content with the large profit they make in interest charged to credit card users with my money.

Now they have everyones pay going into the bank, I wonder how long it will be before they want a deposit fee on that?

I think they have got to the stage where they have opened a window for some less greedy organisations to move into the slightly less profitable slot the banks once inhabited.

I did try one of the newish small banks, but was disappointed they were still a bank in their attitude & dealings. I am about to move to a credit union. I hope they can do better. Time will tell.