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Thursday, April 29, 2010

Cellphones Could Replace Cash


“You win a bet, but the loser does not have enough cash on him to settle it. If he has a credit card, and most people usually do, there is finally a solution. A number of big and small companies — including eBay’s PayPal unit, Intuit, VeriFone and Square — are creating innovative ways for individuals to avoid cash and checks and settle all debts, public and private, using their cellphones.” (New York Times, Thursday)

But let’s not overlook the privacy that cash affords.

FEE Timely Classic
“Toward a Cashless Society” by Elizabeth Kolar