Dont forget you can always get d. W. News on the go just download our from google play or from the apple store ill give you access to all the latest news from around the world plus pushed educations for any freaking news can also use the v. W. Up to send us photos and videos. So i use or no we have much more for coming up for you coming up at the top of the next hour sumi will be with you then thanks for watching. Paying without cash is fast becoming the norm. I pay even tiny amounts with my card or does its just easier and its becoming easier knees or. Will cash soon be a thing of the past. When i think about it i paid more without cash and with. We cannot. Have more. Around the world financial corporations politicians and leading economists working to do away with. I see a future where you will be able to hold i judge it all euro digital dollars to rack wait at the central bank. Who stands to profit from a World Without money and who will be third losers. Without susan ashley many people would have problems getting their hands on money here in the socalled swabian alps a rural part of south west germany she drives out to villages that no longer have a bank or cash machine to death i go in when i started my training at the bank was still opening new branches. I never thought i would end up providing my customers with money and other Banking Services in this way they condemn it guy dont ever done up until sliced off the. Money van serves the outlying areas around the town of hide behind she has specially assigned stops where she parks and then sets up shop. This bank on wheels provides the usual over the Counter Services it has an a. T. M. And a machine for printing Bank Statements many here are fed up that they have no bank in their area. That would be much better young people like me can use Online Banking but i still need cash. Inputs if youre just going to register theres no other option in this area any more theres nothing and this will this is this is probably just a temporary measure for the next few years all the banks are closing down branches this is happening more and more theyre forced to save money and windows so this woman said. Just a few kilometers away from haydn hi im is the town of health and things. The local bank closed here in twenty seventeen and helping think them is not served by a money van. Anyone needing cash here heads to a local in called the ox and. No having come in to bad times. You need fifty euros cant afford more. The manager uses his card reader to debit peoples accounts and pay out cash to anyone who needs it. He set the limited Two Hundred Euros after all hes not a bank he says. Dont these traders sometimes we go somewhere more discreet to pay out the money its up to the individual some people dont want others to see that theyre taking out money displayed are still here what is new wanted. Cash on tap so to speak. To. His customers certainly appreciate the service. As they help this id rather have the physical money in my hands. Yeah thats right you can get a watch now to pay for things or transfer money itll even give you a receipt able lazy or otherwise wisely all this is just the beginning if youre from. A World Without cash in sweden thats now all part of a reality whether your buying a ticket for the tram or pass. A meal at a restaurant or cafe. Paying for the parking lot. Or even the public bathrooms. All you need is a card on mobile phone. Weve come to a flea market in the center of stockholm theres the usual array of bargains most of them can be purchased with very little interest but you soon notice that virtually every stand has a sign bearing Mobile Phone Numbers and often a name to. It. If you find something you like you just put out your phone and swish it sweetens very own mobile Payment Systems. For a couple of pounds for my system this one rests at sixty costs about it. Yes it will always post or. Like this case its just really good. Question. So how does this wish walk. Says basically you just need a persons phone number so you type in that persons phone number and it pulls in almost like who the person is that it belongs to and then you will just like if somebody wishes me i would get a notification that the money is on my account. That. Swedens banks got together to launch the services a joint initiative the aim is to simply find payment and cut costs. I never use cash from my view if you can be complete. I mean i think that would be good i hate having cash on me they just disappear if you have it in pockets sometimes i even throw them in the garbage because i dont know whats good. For them the prospect of cash disappearing completely doesnt bother most people here. Most of the cash that exists today they dont exist. So i think were already there and. When individuals using. Physical money thats a very tiny small step in this whole process which has been going on for a long time and. Theyre all dissenting voices bought there be exception im forced to. We cannot use cash money as we know animal or at least theyre very little to what they think its a way. To use my car i would choose for myself what i would use not least i dont want to use a podium because i dont know the people who work here and i feel not safe to use my car especially not my credit card. And. A world away from the Big City Lynn Runs a gas station on one of swedens countless small islands. And. She still accept both cards and cash any. Way would say i prefer the credit cards if we try to keep the cash amount as low as possible we have this safety box here but if theres also a risk with the cashier am. But. If i see as much or at the expense on handling the cash is now higher than my Credit Card Expenses and. Yeah i would say i prefer if they use rick perry. Once a week lynne counts up all her cash takings and fills out forms the banks in her area have long stopped accepting cash. Every time she brings notes and coins to the bank she has to make a special Trip Depositing hard cash is inconvenient and expensive but withdrawing cash is even worse the bank charges her. Nearly Two Hundred Euros. Have been times each year we are winning to take out change and it cost me last time a bad price for us getting callings and i and i get them out i took out clients in isnt the same at the same amount of money say and it costs me quite a lot hearing it here. She drives more than half an hour to get to a place that accepts cash its basically a deposit box for each bag of money she pays a fee of twenty euros so not surprisingly lyn can hardly wait for cash to disappear. The main beneficiaries of this development are located on the other side of the atlantic conventional Credit Card Companies like visa and master card but also new payment Service Providers like google or apple and amazon the online retailer has now opened a number of supermarkets without checkout customers simply scan their phones at the entrance after that cameras track want items they select facial Recognition Technology allows the system to identify each customer and build their credit card as they leave their receipt for their purchases then appears in the amazon go app. No cash its a trend thats growing in popularity worldwide last year visa ran a campaign in which it offered fifty restaurants Ten Thousand Dollars each if they agreed to stop accepting cash i dont know if michael ryan wasnt able to apply as his restaurant had already gone cashless ago we dont. Ive been in this business a long time and i feel like. Theres a lot of stuff when you have cash around so when theres cash in the safe downstairs in the Office Behind the counter everyone is dipping in everyone sharing be sure you drop another employee theres cash always goes missing such as look at this eliminated after so that thats off the table but more importantly its like today i was late to work the place can still open because they dont need to go to the safe get cash set up the store you can just arrive and open up so its from an operational standpoint its a breeze its super super. A World Without cash is not the kind of world brett scott wants to see he used to work as a financial broker now hes a writer he believes preserving the ability to pay with cash is vital cash doesnt have anybody here to protect to to advocate for it but this is a its like a public utility so you have on the one side these highly motivated commercial entities and. Other hand you have care she doesnt have anybody who everybody uses it but nobody doesnt have an official Spokes Person or doesnt have a Marketing Departments so its a kind of an unfair battle. He came over from britain to attend a conference at Columbia University in new york the question on the agenda here is this the end of cash as the majority. Of the conference brought together a select group of Financial Experts from around the world none of them believe cash stands much of a chance anymore but brad believes the current trend is a mistake. The best analogy to understand this is to think about cars versus bicycles. If youre living in a world where theres only bicycles actually maybe to be a good thing to get a car you can travel further you can travel faster thats different to saying you want to get rid of the ability to use bicycles actually what you want to the world where you have. Different forms of transport in a similar way you want to world where you have different forms of payment so sometimes in certain situations you can use cash sometimes surgical but these guys are not calling for that they saying we want to world it is only digital or in the Transport Analogy only cars youre only allowed to use cars. When hes travelling brett sometimes pays by card but he mostly prefers to use cash. This machine does accept cash in theory only right now it appears to be on strike. And might force me to use for. It at the swipe of. Its going to send a message to my bank in england and told a bunch of stuff to them theyre going to alter all their databases before i can get this thing here. And theyre going to log this and all the bill to see this so now theres this third party is going to watch what im doing. First machines forcing me to do it but i know youve got it. So what role does State Of Play in the whole drive to go cashless. Back in germany at the university Of Seguin Economics students are wondering how safe Digital Payment systems are could we become completely transparent just by doing our shopping. Where Companies Know everything about us. And ill hit a smile every time i think i know who all my data be passed on to now. Well it depends on what website you are on but often things happen very fast and he has no choice but im kind of admitting that when i think about it i pay more without cash than with but thats just the way things are moving somehow. Believe me and we live in europe where we have strict Data Protection laws so i tend to just be trusting and take the easy way out and im for that aspect theres also this aspect that everyone does it so you think it cant be that bad if its so widespread i think thats a key aspect aspect right now germany is still very much a society that likes cash but the example from sweden shows how quickly things can change this isnt a must for going idea its an issue for two reasons firstly because in many cases you have no choice which takes some getting used to for people of my age. But secondly it raises concern because were losing an element of freedom here were allowing ourselves to be monitored. At the University Canteen students have always paid for their meals in cash first they purchase of power then they collect their food. But here too things are changing. So youre paying cash so you know students can now pay with an app on their smartphone. That theyre. So youre paying with blue care ok. You still have to check their plates to make sure youve got it right up my sleeve. And what you need to charge for i dont know im on one hot part ok. As long as theyre ready its super fast. Its money its going to affect this so want to the students think and you said look i thought it was city easy and it really saved time yeah but we were just saying we didnt know just how much it cost. The after doesnt show you that the money is just deducted straight from your bank account so i have to look at my bank up to double check how much i just pay it and then in human side is that they might get rid of the person that sells the Food Vouchers Tickets so theres a question of jobs but ok thats a separate issue and i believe that the. Contactless payment is not yet an issue in Suzanne Ashley has money back. Then from which she believes thats a good thing every day she sees how many older people already struggle with doing Bank Payments online or negotiating a. T. M. Im hoping you would like to thank you for helping i take your time it was because you made a mistake before that the card recorded it but weve deleted that now sits a k. Got. Me to. The place if youll need help i dont like machine. I dont like using the machine i dont trust it all the modem i did. Was not so that helps our customers when she can. A Cashless Society is inconceivable to many people here. The customers want cash they just cant imagine going to the bakery of the local markets and paying with a card. Thats really history obviously there are pros and cons but if the customers want cash then theyll bring it to them and bring it. Back at the bank itself in the town of hide behind stuff have to deal with huge amounts of coins and notes. The germans may still love their cash but the figures recorded by the banks tell a different story. Customers are drawing up less and less money meanwhile the bank says the cost of keeping all the cash on hand is huge. Even given. As produce quite a few turns worth mature they put together over One Hundred Twenty Thousand rolls of going to a year using our machines my goodness thats a lot and weve got. That incurs costs which the banks cant cover through the fees that the customers pay but once in. Our basement where we keep the money we generally have two employees working full time and so personnel costs alone are around One Hundred Thousand Euros a year thats just been at the cost of materials to be much paper the machine no electricity Maintenance Service costs meeting with in syria the rent for the room as well. As money is an expensive product which again it is an. Overall the cost of banks amounts to billions of euros each year but thats not the only issue threatening diffusion of cash. The European Union is also playing its part putting limits on Cash Payments and threatening to do away with large euro notes is cash fast becoming a museum piece. Not at all says germanys central bank box the man in charge of Cash Management at the borders. Bank freely admits things are changing. People in and out interests not going to do theres a clear agenda going on here and we mustnt be fooled by that were talking about a lot of money and instrumental companies are in a lot from the noncash instruments like a credit card human people dont talk about that much group of but theyre happy to talk up the cost of cash and here again Muslims Dont Reveal is good news that nonCash Payments also cost money us in baba toms instrument of course because for time in going to fish being. Credit Card Companies like visa and master card as well as Online Payment Services like pay pal and the German Company pay direct and their money by charging fees for each transaction. In germany alone there are over Twenty Billion Payment Transactions a year by credit card Online Payment Service its a global goldmine yielding over a trillion euros a year. Kenneth rogoff is a professor of economics at Harvard University and a former Chief Economist for the International Monetary fund he says having your cash system also aids crime and tax evasion. I think its not that cash is bad and we should always have it but large notes the days when we need them are bought and mostly theyre not used for anything good even in germany a lot of the businesses that only take cash thats for a reason theyre you know not paying all their taxes people want to get payments and perhaps they dont want to pay taxes in some cases dont want to have regulation and i think the balance is shared where more and more cash is use for that purpose and not so much for illegal activities wrong golf wants to see a world where there are only coins and small Denomination Bills for every day use he believes all large payments should be made electronically so they can be monitored. It should bother the government that theyre printing these large bills and they dont know where they go it should bother us regulators that many apartments in New York Los Angeles miami sell for buckets of cash i mean really is that because theyre afraid of banks is that because you know they dont want to go to the inconvenience of going to the bank and getting a check or doing Electronic Transfer now i think we all know why the payments were made in cash and thats something we should make more difficult. As one of the worlds leading economists his arguments have global influence. In Nov Twenty Sixth India made a Shock Announcement overnights the countrys largest Denomination Bills ceased to be legal tender suddenly around eighty five percent of indias banknotes could no longer be used. On the black market are the Biggest Challenges facing our country. Since coming to power weve done a lot to combat that. For days there was chaos on the streets huge lines formed outside banks as panicked citizens sought to exchange their bank notes what made it worse was that anyone wanting to change significant amounts was required to do so via a bank account something that hundreds of millions of ordinary indians didnt tap. Into that he got the money i cant get any money the government is killing us with this program i havent slept for three days you cant imagine the pressure im under the. Bucks the Government Initiative was certainly successful in one thing it forced many indians to start using a credit card and various payment apps. One common argument is that its a good thing that millions of people in poorer countries now have Bank Accounts and access to credit and Digital Payment systems that certainly the opinion of. Head of an Organization Called the better than Cash Alliance we are promoting the shift from cash to Digital Payments because we believe there are benefits for development for wellbeing to improve peoples lives by moving from catheter payments. He says the way things were done in india was perhaps not so ideal but he Still Believes the direction is the right one. They have started a plan called Digital India which means they are promoting the use of technology into Government Services and all of those combines that have created a great platform for government local government in government for companies and for individuals to start being more included in the economy and being of the un we believe that we can be a neutral convener among governments among companies and i want people to make sure that these shift is done in the best possible way. Better than Cash Alliance does indeed operate under the umbrella of the United Nations and works closely with International Organizations but is it really neutral and independent. Its members include Companies Like visa and master card Global Corporations like h n n unilever and gap and mainly interested in one thing making a Profit Initiative is also supported by numerous governments and foundations including that of my kristoff founder bill gates the better than Cash Alliance wants to see people around the world living in Cashless Society. Having beyond to pay by card or mobile phone is a good thing that scott believes that too but he has a bigger problem with movements like the better than Cash Alliance. Of course its a good thing if you can have new options for payments and new ways to do things so i have no problem with people getting Digital Payments methods when theyve already been forced to use cash before but thats a very different thing to saying they shouldnt be allowed to use cash or what i like as they have the option to use both of them. But actually what a lot of people are better than Cash Alliance and so on theyre not arguing that thats theyre not just saying that Digital Payments a good thing theyre saying we should also get rich. Of cash. Grants cant says that would mean we would only have one form of money in the future. The Current System essentially you have two forms of money ones the state money which is cash the other is bank money which is private right its essentially Commercial Banks that issue private private monies that where we call it the same thing but there are two forms of money. So not all money is the same on the one hand there is cash in the form of bills and coins these are guaranteed by the currency is central bank but most money more than eighty percent only exists in digital form as an electronic figure on our Bank Accounts this money is created by banks during day to day transactions. In a World Without cash customers could no longer withdraw their money from the bank because it would only exist in electronic form if the bank were to fail customers could well lose their wealth. Cashless society is essentially a euphemism for saying a commercial Bank Payments citee a private Commercial Bank payment society thats what cash to society means. So who would benefit most from a Cashless Society thats what the students at z. Can University Want to know. Today theyre listening to norbert herring hes a Business Journalist who spent years studying the move to do away with cash. So it is extreme for sure if you think of an extreme case where every time you pay for anything even if its just fifty cents if you use a payment app youd be flooded out with receipts it would be quite difficult to check that everything had been hooked correctly we now have to move from campaigns big question is what happens to the data that we leave behind every. Time we pay for something he believes its outrageous that users are forced to sign a Blanket Agreement with each Payment Provider and then dont really know what happens to their data afterwards. When i would only have a choice if i had an option of saying no and then maybe i have to pay a fee of ten or twenty euro as a month and return or mourner. Diviner of choice and its my own fault if i sign up but if i dont have the choice to do or die. So what do online Payment Services do without data to find out the students take a look at the terms and conditions detailed on their websites they begin with pay pal the leading online payment system. Jaeger is an extreme latter terms and conditions a super law you cant really just glance over them and get an overview so i found in fact its almost impossible to read through it all unless you want to spend three hours finding out where your data is going to be sent to. The listener hears you get the impression that its designed to make you click ok and carry on probably because theres information in there that isnt too good. What does paypal know about its customers and how does the company use that information at the german headquarters the Company Director is keen to stress that pay pal it hears closely to european Data Protection laws. Tightened is a dark share this data are only as necessary for the transaction as for new money so nobody just receives blanket data passed on by pay pal its always for a specific purpose related to the work that we do shifted it or the data doesnt remain with the Service Providers and often if its only used for the one purpose if it isnt going to speak. About purpose is subject to interpretation and can mean many things according to privacy advocates and Consumer Protection groups. And the momentum in the i dont believe the moment you agree that the provider can use your personal data for other purposes and then make no mistake it will be used and that at stake here. To stay with paved hell or Online Payment Services when you agree you automatically agree to your data being used for Advertising Purposes as well. So it does get used for other purposes not just the particular service that you use. Payment services like pay pal are looking to more than just the fees they charge they want data so they track their customers behavior closely pay pals terms and conditions. Includes a list of third parties to whom personal data can be passed its over forty pages long and include some of the big Data Collection Companies Like google or axiom but also facebook and oracle their one goal personalized marketing. Thing is filing in the long side providing a Payment Service where many people say you dont and that much as a company there are other Business Models that focus on this data and shift its not clear exactly which Business Models those are but its mainly services and marketing activities. And perhaps we cant even imagine yet all the different ways that you can make money with data that would feel like not banish else my last minute and this and. How is a u. S. Company with headquarters in san jose it has around Two Hundred Thirty Million customers worldwide. So it presides over huge amounts of data. I mean these companies dont tell people how theyre user to this is an open question i mean i guess we dont know how facebook users dado our google users data theres always internal and also different laws in Different Countries about how Financial Data can be used. But certainly. The the question of when you combine different data sets together so for example google and apple are getting into the payments businesses who are trying to get in there with say apple pay and stuff and they are already able to do other data like Location Data your search data when you combine those datasets with Payments Data you start to get that sort of three dimensional picture of somebody. If the data from our Payment Transactions can be used to create a perfect psychological and social profile of each one of us what effect does that have how does that influence our everyday. Lives and the way we live together in society. You want to have these systems where people are actually aware that they are being watched so they start to change their behavior because theyre concerned that their every small action has some implication. If you think about you know thirty years ago people didnt think that their every small action was going to be logged by some third party to be analyzed whereas now people are increasingly thinking hey if i do that maybe maybe its going to impact my chances of something so theres going to all these like psychological effects of being. Having all your small interactions watched. China is almost there already by twenty twenty the state a means to achieve near total surveillance with a nationwide network of cameras and facial Recognition Technology. Chinese internet Companies Like alibaba and ten cent already analyze their cost in the Shopping Habits and share the data with the state. Those who add here to the governments way of thinking may get a better Credit Rating for example or a cheaper apartment and those who dont cooperate get punished. The aim is for total state control. And in a Cashless Society that could become a reality. Are you seeing this issue within the broader frame of Digital Technology more generally which is trying to monitor more and more things and bring more and more things that previously werent monitored within the realm of formal monitoring. And of course thats always framed as being you know this is going to help you know people to get more services and so on but of course on the other hand its a new form of control. Could previously soon be a thing of the past. Sweden is fast becoming a Cashless Society the country is famous for its openness and people here are surprisingly relaxed about privacy issues. A couple of years ago the barrier was set the sights there on online the way you can say where your neighbors starring and your coworkers and i mean you most of us are kerrys courier says so we take a little pick but were also putting away the runway mates we are able to discuss. How we consume what we have from the beginning we are transparent in our communication to each other. In sweden we found very little concern that private data could be abused and certainly no worries about state control. Feelins family paying without money is normal. Condition and you see it with both cash or credit cards i can just go to my own children i have three three sons and the smallest one is now six and they have their only cards that they pay with and either if they get to buy a milk kit that used a credit card or here should buy ice cream so we will see that the small ones use carts as well. Lynn is well aware of it a Cashless Society means banks take on a huge amount of power. And thats a cause of concern to at least one institution in the swedish capital the central bank it believes the move towards more Electronic Payments is positive but also forces potential challenges in eradicating cash completely. If cash would go where you. And we tend to think about cash as being the. Last line of defense of this big that if you can pay you know by the way you can still pay in cash but if cash is not there and we experience some kind of disturbance in the electronic Payment Systems how do we pay them how can we get food few and these kind of things that we need in our daily life. There are still many questions surrounding the whole idea of a Cashless Society as one of the guardians of swedish Financial Stability their central bank ricks bank is busy weighing up its options the rigs banks should possibly issue with digital means of payment like a Digital Currency and we call it the. This is something that would be completely new for a central bank to do when theres no one that we can really watch and learn from so we have to do all the footwork by ourselves we are just investigating yet to learn more about that option so how would a Digital Currency issued by a central bank work take Germany Central Bank the bundesbank it issues heroes in the form of coins and notes in future ordinary germans might happen account directly with the bundesbank unlike with a private bank this money would continue to belong to the Account Holder in theory making it as secure as cash. Would it be better to retain a minimum supply of cash and have that written into law for the students in seguin theres plenty to consider. Indeed to give it ten or fifteen years and i think we wont be able to use cash hardly at all anymore. How by good were not of things continue on their current trajectory. And i think were heading towards a totally monitored society. Where everyone will know their lives are transparent and will act accordingly. Try not to draw too much attention to themselves. You know of. What the future holds is not yet clear what is clear a World Without any cash at all poses numerous risks. The main problems of Cashless Society are one the creates a far more surveillance so you create a sense your financial surveillance state to it excludes a lot of people who cant get access to Digital Payment systems three it opens you up to way more risks of Cyber Security so massive Cyber Security risks. For decreases the resilience of your Payment Systems for example cash has no central point of failure you know you can bring it down as it were worth a Digital Payment systems you can turn the more literally. And appoint important for stuff like in political its important because. One of the implications of cash is this is the increased ability to essentially turn off people that you dont want to do things so you can it can be used for political repression as well back in germanys rural southwest so that is heading home how has had a family i enjoyed it and i had quite a few customers and they were all satisfied. Money van will continue to deliver cash to outlying regions for now at least. As for the future shes not sure either. And i hope cash wont be abolished completely i think its important for people to still have the option of paying with cash for day to day shopping. Other can kind of but obviously its possible i can certainly imagine it happening there even though i hope it will also come a costello. How about taking a few risks you could even take a chance on was. Dont expect happy ending. The church. Anxiously waiting waiting for a lifeline to syria. Good morning where are you why dont you answer to every call brings them closer together. But it hurts because they feel powerless to help. Because they worry about the long sleeve left behind the name of a mother im trying to be strong but deep down im broken. The war continues to haunt those who fled from syria. Into the gutter. And im trying to reach them but nobody yet says. The war on my phone or two part