Rise in cashless payments stokes concerns over data security

April 6, 2019   |   Category: Prophecy News   |   Tags: ,

When bitcoin faithful began preaching the virtues of anonymous currencies, the pitch sounded familiar.

“I thought, ‘Haven’t we got that already?’” said Kirsten Thompson, a partner at Dentons and national lead of the firm’s transformative technologies and data strategy group.

“Cash, not bitcoin, was the original anonymous currency and we lose something by getting rid of it.”

In advising big banks and financial services companies on cybersecurity and payment systems, Ms. Thompson is more attuned than most to the risks and implications of cashless payments.

The shift toward a cashless society is well under way in Canada, as credit and debit cards, online transactions and digital wallets increasingly replace cash as the preferred modes of payment. Cash now accounts for just 12 per cent of point-of-sale transactions, according to Payments Canada’s most recent report. And payment processor Moneris forecasts that, by 2030, just 10 per cent of all commercial transactions in Canada will be settled with cash.

MORE: https://www.theglobeandmail.com/investing/personal-finance/article-rise-in-cashless-payments-stokes-concerns-over-data-security/

Leave a Reply

Comment Policy

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

One Response to “Rise in cashless payments stokes concerns over data security”

  1. Michael

    The rise of a cashless society and the mass immigration is a sign of things to come. It’s time for the church to wake up! These global elites are pushing for a global economy which is actually the one world government under the anti-Christ. IF there are any hopes of America to return to our Christian values the church has to reach out and educate better in addition the church needs to get involved full force on all elections to stop Democrats and rhino Republicans who side with the Democrat elites who support mass immigration that put our country at risk as well as coming here with respect for our Christian culture, sucking off the welfare system. Democrats aren’t the same party they use to be, they are all radicals and not all Republicans can be trusted either. Members of the church everywhere who understand what is going on need to run for office in every level of the government from local to state to federal and replace these Godless people who refuse to put God first and refuse to put the American people first over illegal immigrants who are ruining the country. Educate others and spread the word. Part of the globalist plan is to have mass immigration from people/countries who don’t share our Christian values because our Christian values, the Bible stands in their way. Most are also poor and will drown the country in debt. All social programs should be for American citizens only, those who really need it, no exceptions. It’s time to stop the madness. Too many risks of radicals with this immigration problem too. We must also stand up against making this country a cashless society and hopefully Canadians will do the same. Pray for both countries which includes the voters for God to give them wisdom to get involved and make the right choices in their votes and pray for political leaders as well as contacting them to let them know how you feel.