Earlier quoted context omitted.
It would be a "unique" situation. Most AMTs (not all, but most) only dispense $20 bills, the rarer ones will dispense $5s or $10s, and they're rare enough that I make a note of them. I have never encountered an ATM that gives a $50. Your best bet of happening into a $50 is if you go to a bank for an in-person withdraw and they ask you for preferred denominations. Generally the money is dispensed in $20s even there un…
Huh, the Wells Fargo ATMs here in San Francisco actively offer me $50 bills on a regular basis! I wonder how much this various by bank, by region, or by ATM manufacturer.
Offline card payments should be possible no later than 1 July 2026
261–270 of 581 posts
Re: Offline card payments should be possible no later than 1 July 2026
#262Earlier quoted context omitted.
People forget that the credit card companies charge businesses to process transactions. Some stores/restaurants even give discounts for paying in cash because of this.
In the UK this was banned in 2018. The cash price has to be the same as the debit/credit card price, which is not exactly 'freedom'.
I believe it was part of an agreement with the card companies over anti-competitive behavior.
Re: Offline card payments should be possible no later than 1 July 2026
#263Some context might be useful here. I spent some time living Sweden not too long ago and Swedes practically don't use cash. It's usually not said out loud, but cash is often considered to be dirty and criminal, to the point that most don't have any at all. Digital payments are very convenient and deeply integrated, so long as you have a local ID which allows you use the local payment system Swish etc. This worked nice…
Re: Offline card payments should be possible no later than 1 July 2026
#264Every time I see posts like these related to fiat, my heart sinks. Despite pro privacy sentiments across the site, there is a concerning amount of people who have not only fallen to the trap of convenience, but even consider cash use suspicious or criminal (the morality of tax evasion is a whole different subject, the places where it's most popular often coincides with a corrupt, inefficient government). Soon, cash u…
It won't. Look at China. Cash is impossible to use and crypto is banned.
Re: Offline card payments should be possible no later than 1 July 2026
#265Re: Offline card payments should be possible no later than 1 July 2026
#266Earlier quoted context omitted.
We hardly use cash in New Zealand, over 85% of transactions are electronic. There’s a lot of places that don’t accept cash anymore because cash handling is annoying and risky. That said, nobody thinks of cash as dirty, just annoying. Also our payment system has always been able to work offline, because it started rolling out in the 80s.
Since when does EFTPOS work offline? It works off the internet, but not "offline", if the phones are down, EFTPOS is down. It happens with relative frequency, given the weather. Or trucks hitting boxes, or diggers cutting cables. Shit happens. Regarding places not accepting cash: NZ First (political party) is proposing to protect the right to use cash and make all businesses accept cash for up to $500 items. > The Ca…
It is capped at $300 per card used and 200 transactions stored (I believe some large merchants can vary this, but not by much), it’s only for temporary failures not multi-hour outages.
You can quickly find information with your favourite search engine.
Re: Offline card payments should be possible no later than 1 July 2026
#267Some context might be useful here. I spent some time living Sweden not too long ago and Swedes practically don't use cash. It's usually not said out loud, but cash is often considered to be dirty and criminal, to the point that most don't have any at all. Digital payments are very convenient and deeply integrated, so long as you have a local ID which allows you use the local payment system Swish etc. This worked nice…
How do you pay for things that are just one or two euros? In my local boulangerie they don't accept cards for less than 5€, so if I just want a baguette I need to have cash.
https://www.riksdagen.se/sv/dokument-och-lagar/dokument/sven...
Re: Offline card payments should be possible no later than 1 July 2026
#268Re: Offline card payments should be possible no later than 1 July 2026
#269Every time I see posts like these related to fiat, my heart sinks. Despite pro privacy sentiments across the site, there is a concerning amount of people who have not only fallen to the trap of convenience, but even consider cash use suspicious or criminal (the morality of tax evasion is a whole different subject, the places where it's most popular often coincides with a corrupt, inefficient government). Soon, cash u…
These "cascades of misfortune" I've run into happen largely because of how we've placed certain institutions at the center of our lives and our society, or perhaps more precisely because of the "convenient" solutions of theirs that we've all been coralled into adopting.
I'm thinking of social media networks, smartphone companies and their app stores, banks and their electronic payments, etc. Everyone's opted in, and we don't realise how much we've given up as a result, with all these "convenient" alternatives, now made mandatory to replace the old and inconvenient solution.
We don't realize, that is, until you're standing at the bank teller in a city away from home, passport in hand but otherwise robbed of phone and wallet, hoping to withdraw some cash to keep you alive while you sort this mess out - only to learn that the bank is no longer able to do that for you. You can't just get your own money. You could withdraw at the ATM, but with a card of course, and that for a fee with a pretty low upper limit. But banks don't serve that purpose anymore. They're now software institutions that we are forced to have a relationship with and operate through in order to make monetary transactions.
Suddenly society has shut down. You can't log into anything without your phone and 2FA, so you're stuck without access to your favorite online services until you get a new SIM card and a fresh device. But even then, there's no riding public transit, because you don't have access to the apps they all operate through. Not that you'd be able to pay in those apps anyway, after cancelling your payment cards. And besides, you don't have anywhere you'd like to go anyway, because, aside from having basically no money to spend on food or events, there's no way to learn what's happening in this city without access to Facebook and all the company pages and events published there.
I forget now all the myriad ways that life grinds to a halt, but I do vividly remember feeling like nothing was possible. And that only because I lost one or two things which should be entirely optional in life! You shouldn't be required as a human, nor even as a member of society, to have a Facebook account, or a smartphone, or even a bank account (that last one is perhaps my most extreme take, but I stand by it).
Re: Offline card payments should be possible no later than 1 July 2026
#270Earlier quoted context omitted.
We hardly use cash in New Zealand, over 85% of transactions are electronic. There’s a lot of places that don’t accept cash anymore because cash handling is annoying and risky. That said, nobody thinks of cash as dirty, just annoying. Also our payment system has always been able to work offline, because it started rolling out in the 80s.
I've visited New Zealand a few times en route to Antarctica. The only time I've ever needed to take out cash was for the Christchurch bus service. I was in MIQ on the way in, but they gave us free reign on the way out because Antarctica was considered virus-free (and according to immigration NZ, it counts as the Ross Dependency). There was obviously a lot of push for contactless payments in 2021. I get the impression…
EFTPOS is our national post of sale system, it has very low or no fees for any party involved. Merchants pay a fixed machine rental per month which can include unlimited transactions, or may have a per transaction fee of up to $0.20. Most individuals do not pay a fee for using EFTPOS and there’s normally no card fee, though some banks have accounts with fees that have other benefits (eg higher deposit interest rates to encourage saving).
Contactless goes via the standard card network extortion. Since 2022 the interchange rate has been capped by legislation which has helped merchants a lot, but the per transaction fee over the card network is still far higher than EFTPOS.
Contactless EFTPOS does exist in Australia - we share a lot of the underlying tech - but the banks won’t activate it here because they’d lose the interchange fees.
Online EFTPOS is starting to gain market share though, which is nice.