DO YOU want movie tickets with that cash? I have along with many others have been warning others of the coming technology about the microchip Implants being the very "Mark" of the Antichrist and yet we are seeing proof as time marches on. The Antichrist will make his move of deception upon mankind and cause everyone to receive his mark of ownership to him and to this world's system in order for people to buy or sell. I believe as Christians it is our duty in first teaching and proclaiming the coming Kingdom of Christ on this earth but also to warn those who are in rebellion against God of what exactly the future holds for them without Christ...
Automatic teller machines will soon start offering movie passes, bus tickets and even ask if you want to take out a personal loan, according to South Australian bank and credit union bosses.
An Advertiser roundtable forum has been told that technology will revolutionise the humble ATM over the next few years.
Australian Central chief executive Peter Evers said ATMs would evolve to be able to reload computer chips or stored value cards, plus offer a range of services such as gift vouchers and online music.
Savings & Loans chief executive Greg Connor said ATMs would become an "all-singing, all-dancing variety store".
"Take the analogy of the mobile phone. When it first started, it was a brick," he said.
"Now look to where it's got to in terms of the iPhones and technology – the capacity to do things is huge."
Bendigo and Adelaide Bank general manager SA/NT John Oliver said overseas ATMs were already giving people movie tickets and public transport tickets.
"For a long time, they've basically been the faceless teller, but it's about how we broaden their use," he said.
National Australia Bank state general manager retail banking Ann-Marie Chamberlain said ATMs would be able to examine customer history and spending patterns, and "make offers about things that are available to them".
The roundtable panel also said:
CASH would not be used for small transactions within the next seven years.
WALLETS, purses and credit cards will also disappear, to be replaced by computer chips embedded in people's right hand, mobile phones, watches or other devices.
SPEECH-recognition technology was already being tested at one major bank, NAB, to help with fraud prevention and remove the need for personal identification numbers.
THE image of the banking sector had taken a beating through the global financial crisis, despite Australia having the strongest banking system in the world.
"We're guilty by association," Mr Connor said.
"We're also fair game because banking is a grudge purchase. It's not like buying shoes or a set of golf clubs," he said.
"You give someone your hard-earned money and then you borrow it and you're in debt. That's not fun."
Here is another post: Cash to become extinct as chips take off
By Anthony Keane
June 15, 2009 06:00am
Extinct? ... bank bosses have predicted the decline of cash as transactions are done through microchips / File
* Bank bosses foresee death of cash
* 'Cash to be replaced by microchips'
* More: Technology news and reviews
CASH is accelerating down the path to extinction as new technologies threaten to mark the end of loose change within a decade.
Bank and credit union bosses say cash won't be alone, with wallets and credit cards also likely to disappear too.
They told The Advertiser's round table forum that cash and cards will be replaced by computer chips embedded in people's right hand, mobile phones, watches or other portable devices.
Related story The Advertiser: Future of cash round table »
Australian Central chief executive Peter Evers believes cash will be replaced for most transactions in five-to-seven years.
"Cash will disappear as there will be other forms of carrying cash, stored value in your phone or whatever it might be. It will transfer automatically," he said.
I could just hack the numerical "values" stored in my "phone", since there is no way to prove that a number was counterfeit.
"We're very close in countries around the world. If you go in to Hong Kong or Singapore, the low-value transactions have already disappeared. You can't go anywhere, like on public transport, without pre-purchasing a card.
"I think the Australian Payment Systems Board is very much on top of it and is trying to move down a path, but hasn't publicly put things into place yet."
BankSA general manager strategy and operations Chris Ward expects Australia to follow the offshore lead, with small cash transactions disappearing first.
"So you can't go and buy a bottle of water from the deli with cash; you've got to go and buy it with your chip," he said.
Bendigo and Adelaide Bank state manager SA/NT John Oliver said it was easier for retailers to use electronic transactions than manual cash transactions.
Savings & Loans chief executive Greg Connor said the concept of the wallet would go.
"Whereas now we have a wallet and purse, it will be a chip in your phone or your watch or even implanted under the skin or something like that as your access," he said.
Mr Evers said credit cards were on the way out as well.
"The access to credit is still going to be there through the mobile phone, but you don't need the card because that's really only a means of identification," he said.
"There could be another way of identifying, but the product, revolving credit, will still sit there."