How South Africa intends to keep a cashless society secure

[Daniel Puchert]

South Africa's plan to kiss cash goodbye

The South African Reserve Bank said it is working on two-factor authentication, a digital financial identity, and an electronic know-your-customer registry to ensure safer digital payments in the future.

This is part of its digital payments roadmap, which aims to smooth out the path to a cashless society.

 

[Enzo Matrix]

Ok im pretty sure we are being rick rolled at this point with all the kissing

 

[UB40]

Stop already with this Kissing crap

 

[UB40]

Mini Bus Taxi Drivers will NEVER EVER kiss cash away, this is how they avoid @sars

 

[Quicks]

Won't they just clear your account with the below R500 cap. Should be done on every single transaction.

 

[Cranjus McBasketball]

I'm getting MyBB a thesaurus for Xmas. But only the page with kiss, kissed and kissing.

 

[r00igev@@r]

Pucker up Buttercup

 

[FiestaST]

Kissing 'R Us.

 

[Enzo Matrix]

I'm getting MyBB a thesaurus for Xmas. But only the page with kiss, kissed and kissing on.

Mwah

 

[SilverCode]

How to from a cashless society

Step 1: Form an ANC/MK/EFF coalition
Step 2: Nationalise the Reserve Bank and start printing money
Step 3: Wait for Hyper Inflation
Step 4: Return to the barter system

 

[Cranjus McBasketball]

How to from a cashless society

Step 1: Form an ANC/MK/EFF coalition
Step 2: Nationalise the Reserve Bank and start printing money
Step 3: Wait for Hyper Inflation
Step 4: Return to the barter system

So what you're saying is we're going to kiss our money goodbye.

 

[rvZA]

There will be no cashless society in South Africa. It is a dream. This will just force companies not to accept this as payment method as it will have no value. Companies will start accepting only foreign currency or leave the country. Paypal tried this on a scale a million times that of SA and it failed abroad to pull it off. Nothing will ever replace a normal currency with notes and coins. Easy as that.

 

[KleinBoontjie]

Ok im pretty sure we are being rick rolled at this point with all the kissing

All we need now is for a kiss to be Massive

 

[s0lar]

Stop already with this Kissing crap

Smoochie smoochie you fat old grump..

 

[Deandbn]

Sounds awesome, imagine the government being able to cream 2.5% to 5% facility fee off the top of each and every transaction. Money for jam!

 

[dabbler]

Wait until our banks go offline, and then see how much we will need cash.

 

[UB40]

Wait until our banks go offline, and then see how much we will need cash.

That is why I have R84 000 worth in crypto thanx to @Snyper564

 

[MandM]

"This type of authentication requires something you know (e.g., PIN), something you have (e.g., cryptographic identification device), or something you are (e.g., biometrics)." I guess more kidnappings are in our future...

 

[SauRoNZA]

Wait until our banks go offline, and then see how much we will need cash.

They go offline all the time and nobody has died…because already people don’t use cash.

Mitigations are already in place.

 

[RedDevil7108]

So "Kiss" is the new "Massive"...........
Eish