Digital transaction fees too high

Daniel Puchert

Daniel Puchert

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South Africa must say goodbye to cash

South Africa must disincentivise cash usage by reducing card payment fees for consumers and introducing a universal payment platform to eliminate the use of physical currency.

This is according to Consumer Goods Council chair Gareth Ackerman, who told the Sunday Times that transaction fees are too high and result in consumers having less to spend.
 
Daniel Puchert said:
South Africa must say goodbye to cash

South Africa must disincentivise cash usage by reducing card payment fees for consumers and introducing a universal payment platform to eliminate the use of physical currency.

This is according to Consumer Goods Council chair Gareth Ackerman, who told the Sunday Times that transaction fees are too high and result in consumers having less to spend.
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Methinks Gareth Ackerman should go chat to half the country who don't use cards because they need a bank account and have to pay for it. Also SARS gets to look into those accounts and knows what traders are doing on the Yoco machines which many traders have chucked after SARS contacted them.
 
China also went cashless, however they shunned the official government channels and money mostly moves between digital providers without ever touching a bank account. Someone pays you using a card, mostly foreigners, the money goes into a digital wallet where you can either spend it or pay your workers. Your workers prefer it because now they can spend their money from their wallet. Nobody is snooping into their bank accounts to see what taxes they should pay.
 
Another obstacle is that illegal immigrants can't open bank accounts.

Let's face it: These people are here to stay. Give them work permits.
 
I did love Nedbank charging me R11 each to view 2 statements from April and May online.
 
So if I register for Payshap with Tymebank, how does it work and how do people use it? Do they also have to register at their bank?
 
Absolute nonsense, the only reason to get rid of cash is to tie people down to a programmable digital currency which would put the corrupt government in the NWO driver seat. Time to start going completely off grid, glad I am retired and can happily operate outside the government regulations to a large degree already. People shouting for digital currencies are either paid shrills or seriously delusional about the real outcome. I will deal in gold bullion long before I deal in an imaginary programmable fantasy.
 
The cashless push in both articles on MyBB is an advertorial by Gareth Ackerman of the Consumer Council for PayShap. Nothing to do with the banks who did a survey two years ago and found that cash is king in SA and not going away. Findings from the banks:

1. Over half of SA uses cash exclusively.
2. Illegal immigrants can't open bank accounts and run on cash only.
 
Bad Ballie said:
I will deal in gold bullion long before I deal in an imaginary programmable fantasy.
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You are already "dealing in an imaginary programmable fantasy". Its amazing how people don't know it.

Only 5% of the world's money are printed. That is to make you believe that its real. What do you think the rest is...its just numbers.
 
xera said:
Does SARS track the government and politicians?
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Yes. But their files are sealed to run of the mill employees and only certain SARS officials get to see the files. We need a tax system like Norway has where the tax paid by all citizens and businesses is available for inspection on the internet by everybody.
 
Cosmik Debris said:
Yes. But their files are sealed to run of the mill employees and only certain SARS officials get to see the files. We need a tax system like Norway has where the tax paid by all citizens and businesses is available for inspection on the internet by everybody.
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Yes... that. In other words: NO, not really.
 
Cosmik Debris said:
Yes. But their files are sealed to run of the mill employees and only certain SARS officials get to see the files. We need a tax system like Norway has where the tax paid by all citizens and businesses is available for inspection on the internet by everybody.
Click to expand...
As was revealed in a recent book- Jacob Zuma's taxes for example, that was handled by a very specific SARS official and because of his rank, he got a much nicer ride on outstanding returns than any mere hoi polloi.
 
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