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June 24 - The Move Toward Becoming A Cashless Society
Article: Technology For Global Monetary Sysytem
It seems Texans,
like most citizens around the world, are
moving toward becoming a cashless society.
Dennis Simmons, the president and
CEO of Dallas-based SWACHA, one of the largest not-for-profit
electronic payment associations,
referred to the new rules requiring that
all social security recipients born after 1921 get direct
deposit and that almost all public assistance payments are now
done electronically. "There's been a huge growth in the amount
of monies that are being put onto these prepaid cards for people
to have access to mainstream banking services,"
handling large transactions is easy, but
there still needs to be work on developing ways to handle small,
everyday purchases. "There's some movement in those areas to
make those so-called P to P, person to person payments, more
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