Is T&T Ready To Be Cashless?

[j.o.e]

We need to make cashless more widespread not necessarily make mandatory. I personally would embrace cashless.
The only thing I really pay for cash is the barber.
Or the odd time I eat a gyro or doubles (hardly ever)

You full of it as usual

https://www.weforum.org/stories/2019/05 ... est-price/

You just post an article that agrees with me. Great job zoom. I never said ban cash but make cashless more accessible just as the article says.

[88sins]

There is a substantial number of people in this country that don't possess a bank account and cannot possess a bank account due the requirements imposed by the oligarchy. How ppl really want us to go cashless boi?

And these people make up a significant proportion of the shadow economy

[timelapse]

Another point to note.
Do you trust giving Imbert access to your bank accounts?

[hover11]

Another point to note.
Do you trust giving Imbert access to your bank accounts?

Seems they have information to view, how else can the PM make such a statement that the citizens of this country have money stored in their bank accounts that even he was surprised at. Imbert called us savers but not investors

[paid_influencer]

Another point to note.
Do you trust giving Imbert access to your bank accounts?

Imbert already have access to your bank account, regardless of cashless payments or demonetising the $100 note or whatever.

all the laws already there.

the only people not affected by current laws are the ones doing black market/illegal chit with cash.

[zoom rader]

Another point to note.
Do you trust giving Imbert access to your bank accounts?

Seems they have information to view, how else can the PM make such a statement that the citizens of this country have money stored in their bank accounts that even he was surprised at. Imbert called us savers but not investors

Capital gains taxes will be introduced on citizens bank accounts.

[paid_influencer]

Central Bank bringing fast payments to T&T in 2025

..

In the public education note, the Central Bank gave the example of a customer wishing to buy four doubles. It said once the customer has a working mobile phone, the UPI app downloaded to their phone and money in the bank, the customer can transfer money to the doubles vendor's account.

The Bank also noted that the fast payment system can also be used to: transfer money from one person to another; pay utility bills; make donations (‘collection’ at church services) and receiving grants from the Government.

The Central Bank said a ‘pilot’ is being scheduled for the first half of 2025 to test the system in Trinidad and Tobago with the aim to have the system fully functional by the end of 2025.

https://guardian.co.tt/business/central ... d0c46eacfa

[zoom rader]

Central Bank bringing fast payments to T&T in 2025

..

In the public education note, the Central Bank gave the example of a customer wishing to buy four doubles. It said once the customer has a working mobile phone, the UPI app downloaded to their phone and money in the bank, the customer can transfer money to the doubles vendor's account.

The Bank also noted that the fast payment system can also be used to: transfer money from one person to another; pay utility bills; make donations (‘collection’ at church services) and receiving grants from the Government.

The Central Bank said a ‘pilot’ is being scheduled for the first half of 2025 to test the system in Trinidad and Tobago with the aim to have the system fully functional by the end of 2025.

https://guardian.co.tt/business/central ... d0c46eacfa

So basically Rowlee knows everything that u buy.

Just think when they find out Elite keeps buying baby oil.


Comparing India to Trinidad is bullśĥit

[hover11]

Central Bank bringing fast payments to T&T in 2025

..

In the public education note, the Central Bank gave the example of a customer wishing to buy four doubles. It said once the customer has a working mobile phone, the UPI app downloaded to their phone and money in the bank, the customer can transfer money to the doubles vendor's account.

The Bank also noted that the fast payment system can also be used to: transfer money from one person to another; pay utility bills; make donations (‘collection’ at church services) and receiving grants from the Government.

The Central Bank said a ‘pilot’ is being scheduled for the first half of 2025 to test the system in Trinidad and Tobago with the aim to have the system fully functional by the end of 2025.

https://guardian.co.tt/business/central ... d0c46eacfa

So basically Rowlee knows everything that u buy.

Just think when they find out Elite keeps buying baby oil.


Comparing India to Trinidad is bullśĥit

Yeah don't like that record of everything I purchase even down to smallest transaction. What's the purpose of such. So if I want to give a piper a 10 dollars , next thing he gonna have a device to record that too? We have to be realistic here , what's the intention here, who gaining from laying out this type of IT infrastructure. Who getting the contracts? Why is it being pushed at a time when we have far more pressing issues in front of us?

[zoom rader]

Comparing India as a cashless society is bullśhit

Why don't they use US , UK or European countries.

They conveniently use India to hoodwink the public.

India has a toilet problem. Why don't they compare that or the big corruption

Maybe compare the abuse of women in India.

[Les Bain]

Comparing India as a cashless society is bullśhit

Why don't they use US , UK or European countries.

They conveniently use India to hoodwink the public.

India has a toilet problem. Why don't they compare that or the big corruption

Maybe compare the abuse of women in India.

Never underestimate the power of hoodwinking. The 2024 US Presidential election proved domestically and internationally that people can be swayed with car salesman tactics and convenient perspectives on complex issues delivered by snakeoil vendors with nice teeth and hair.

Hover asked an important question: why now, when there are far more pressing issues affecting the country?

Also, the fast payment process outlined in Guardian Business is assuming everybody in Trinidad is at the same level wrt technological devices, connectivity and savvy. Though the majority of my transactions are via card payments and money transfers, petty cash still covers minor purchases like doubles and parlour runs. I don't mind progressive thinking on a governmental level but don't be talking futuristic when the present and past eh balancing. It reeks of underhanded intentions.

[Duane 3NE 2NR]

Central Bank bringing fast payments to T&T in 2025

..

In the public education note, the Central Bank gave the example of a customer wishing to buy four doubles. It said once the customer has a working mobile phone, the UPI app downloaded to their phone and money in the bank, the customer can transfer money to the doubles vendor's account.

The Bank also noted that the fast payment system can also be used to: transfer money from one person to another; pay utility bills; make donations (‘collection’ at church services) and receiving grants from the Government.

The Central Bank said a ‘pilot’ is being scheduled for the first half of 2025 to test the system in Trinidad and Tobago with the aim to have the system fully functional by the end of 2025.

https://guardian.co.tt/business/central ... d0c46eacfa

assuming that both the customer and the doubles vendor need to have data on their phone?

Though I’m sure Digicel and bmobile can sell specific data to the banks so you can carry out these transactions without needing internet data on your phone - the same way they can give everyone free WhatsApp data but you can’t access the rest of the internet unless you buy data

[hover11]

Central Bank bringing fast payments to T&T in 2025

..

In the public education note, the Central Bank gave the example of a customer wishing to buy four doubles. It said once the customer has a working mobile phone, the UPI app downloaded to their phone and money in the bank, the customer can transfer money to the doubles vendor's account.

The Bank also noted that the fast payment system can also be used to: transfer money from one person to another; pay utility bills; make donations (‘collection’ at church services) and receiving grants from the Government.

The Central Bank said a ‘pilot’ is being scheduled for the first half of 2025 to test the system in Trinidad and Tobago with the aim to have the system fully functional by the end of 2025.

https://guardian.co.tt/business/central ... d0c46eacfa

assuming that both the customer and the doubles vendor need to have data on their phone?

Why they complicating such as a thing as just buying doubles though ? This is really uncalled-for. What do I know someone got paid big money to come up with this idea

[j.o.e]

Central Bank bringing fast payments to T&T in 2025

..

In the public education note, the Central Bank gave the example of a customer wishing to buy four doubles. It said once the customer has a working mobile phone, the UPI app downloaded to their phone and money in the bank, the customer can transfer money to the doubles vendor's account.

The Bank also noted that the fast payment system can also be used to: transfer money from one person to another; pay utility bills; make donations (‘collection’ at church services) and receiving grants from the Government.

The Central Bank said a ‘pilot’ is being scheduled for the first half of 2025 to test the system in Trinidad and Tobago with the aim to have the system fully functional by the end of 2025.

https://guardian.co.tt/business/central ... d0c46eacfa

assuming that both the customer and the doubles vendor need to have data on their phone?

Why they complicating such as a thing as just buying doubles though ? This is really uncalled-for. What do I know someone got paid big money to come up with this idea

Relax you have the option to NOT use it. I dunno why ppl who don’t want to go cashless does be upset because there is an option. Have ppl with no bank card living life as normal right now too. Nobody is telling you cashless is the ONLY way.
If organically more and more places decide cashless is the way well so be it.

[zoom rader]

Comparing India as a cashless society is bullśhit

Why don't they use US , UK or European countries.

They conveniently use India to hoodwink the public.

India has a toilet problem. Why don't they compare that or the big corruption

Maybe compare the abuse of women in India.

Never underestimate the power of hoodwinking. The 2024 US Presidential election proved domestically and internationally that people can be swayed with car salesman tactics and convenient perspectives on complex issues delivered by snakeoil vendors with nice teeth and hair.

Hover asked an important question: why now, when there are far more pressing issues affecting the country?

Also, the fast payment process outlined in Guardian Business is assuming everybody in Trinidad is at the same level wrt technological devices, connectivity and savvy. Though the majority of my transactions are via card payments and money transfers, petty cash still covers minor purchases like doubles and parlour runs. I don't mind progressive thinking on a governmental level but don't be talking futuristic when the present and past eh balancing. It reeks of underhanded intentions.

It goes to show what idiots we have in Trinidad

[zoom rader]

Central Bank bringing fast payments to T&T in 2025

..

In the public education note, the Central Bank gave the example of a customer wishing to buy four doubles. It said once the customer has a working mobile phone, the UPI app downloaded to their phone and money in the bank, the customer can transfer money to the doubles vendor's account.

The Bank also noted that the fast payment system can also be used to: transfer money from one person to another; pay utility bills; make donations (‘collection’ at church services) and receiving grants from the Government.

The Central Bank said a ‘pilot’ is being scheduled for the first half of 2025 to test the system in Trinidad and Tobago with the aim to have the system fully functional by the end of 2025.

https://guardian.co.tt/business/central ... d0c46eacfa

assuming that both the customer and the doubles vendor need to have data on their phone?

Why they complicating such as a thing as just buying doubles though ? This is really uncalled-for. What do I know someone got paid big money to come up with this idea

Relax you have the option to NOT use it. I dunno why ppl who don’t want to go cashless does be upset because there is an option. Have ppl with no bank card living life as normal right now too. Nobody is telling you cashless is the ONLY way.
If organically more and more places decide cashless is the way well so be it.

Some don't have bank account much less for Bank card.

You see how much BS & red tape u have to go through to open an account.

[hover11]

Central Bank bringing fast payments to T&T in 2025

..

In the public education note, the Central Bank gave the example of a customer wishing to buy four doubles. It said once the customer has a working mobile phone, the UPI app downloaded to their phone and money in the bank, the customer can transfer money to the doubles vendor's account.

The Bank also noted that the fast payment system can also be used to: transfer money from one person to another; pay utility bills; make donations (‘collection’ at church services) and receiving grants from the Government.

The Central Bank said a ‘pilot’ is being scheduled for the first half of 2025 to test the system in Trinidad and Tobago with the aim to have the system fully functional by the end of 2025.

https://guardian.co.tt/business/central ... d0c46eacfa

assuming that both the customer and the doubles vendor need to have data on their phone?

Why they complicating such as a thing as just buying doubles though ? This is really uncalled-for. What do I know someone got paid big money to come up with this idea

Relax you have the option to NOT use it. I dunno why ppl who don’t want to go cashless does be upset because there is an option. Have ppl with no bank card living life as normal right now too. Nobody is telling you cashless is the ONLY way.
If organically more and more places decide cashless is the way well so be it.

Some don't have bank account much less for Bank card.

You see how much BS & red tape u have to go through to open an account.

If you know how many other islanders are here getting assistance every month but for some reason the banks refuse to open an account for them. Every month they have to go through the same long mundane process of opening the cheques at the respective institutions to eventually get their assistance. Fix that first before coming with this donkey logic of cashless. System

[zoom rader]

Central Bank bringing fast payments to T&T in 2025

..

In the public education note, the Central Bank gave the example of a customer wishing to buy four doubles. It said once the customer has a working mobile phone, the UPI app downloaded to their phone and money in the bank, the customer can transfer money to the doubles vendor's account.

The Bank also noted that the fast payment system can also be used to: transfer money from one person to another; pay utility bills; make donations (‘collection’ at church services) and receiving grants from the Government.

The Central Bank said a ‘pilot’ is being scheduled for the first half of 2025 to test the system in Trinidad and Tobago with the aim to have the system fully functional by the end of 2025.

https://guardian.co.tt/business/central ... d0c46eacfa

assuming that both the customer and the doubles vendor need to have data on their phone?

Why they complicating such as a thing as just buying doubles though ? This is really uncalled-for. What do I know someone got paid big money to come up with this idea

Relax you have the option to NOT use it. I dunno why ppl who don’t want to go cashless does be upset because there is an option. Have ppl with no bank card living life as normal right now too. Nobody is telling you cashless is the ONLY way.
If organically more and more places decide cashless is the way well so be it.

Some don't have bank account much less for Bank card.

You see how much BS & red tape u have to go through to open an account.

If you know how many other islanders are here getting assistance every month but for some reason the banks refuse to open an account for them. Every month they have to go through the same long mundane process of opening the cheques at the respective institutions to eventually get their assistance. Fix that first before coming with this donkey logic of cashless. System

Those islanders are the PNM election bank.

[hover11]

Central Bank bringing fast payments to T&T in 2025

..

In the public education note, the Central Bank gave the example of a customer wishing to buy four doubles. It said once the customer has a working mobile phone, the UPI app downloaded to their phone and money in the bank, the customer can transfer money to the doubles vendor's account.

The Bank also noted that the fast payment system can also be used to: transfer money from one person to another; pay utility bills; make donations (‘collection’ at church services) and receiving grants from the Government.

The Central Bank said a ‘pilot’ is being scheduled for the first half of 2025 to test the system in Trinidad and Tobago with the aim to have the system fully functional by the end of 2025.

https://guardian.co.tt/business/central ... d0c46eacfa

assuming that both the customer and the doubles vendor need to have data on their phone?

Why they complicating such as a thing as just buying doubles though ? This is really uncalled-for. What do I know someone got paid big money to come up with this idea

Relax you have the option to NOT use it. I dunno why ppl who don’t want to go cashless does be upset because there is an option. Have ppl with no bank card living life as normal right now too. Nobody is telling you cashless is the ONLY way.
If organically more and more places decide cashless is the way well so be it.

Some don't have bank account much less for Bank card.

You see how much BS & red tape u have to go through to open an account.

If you know how many other islanders are here getting assistance every month but for some reason the banks refuse to open an account for them. Every month they have to go through the same long mundane process of opening the cheques at the respective institutions to eventually get their assistance. Fix that first before coming with this donkey logic of cashless. System

Those islanders are the PNM election bank.

Since Eric Williams days

[Thomas 007]

Nah, not even close. Too many people still rely on cash, especially older folks. Plus, what about those without reliable internet or bank accounts?

[j.o.e]

Nah, not even close. Too many people still rely on cash, especially older folks. Plus, what about those without reliable internet or bank accounts?

Cashless can work outside of the commercial banking system also compared to most countries trinidad has a better mobile cellphone and data adoption rate.
Again , no one needs to phase out money the old people will phase out themselves

[hover11]

Nah, not even close. Too many people still rely on cash, especially older folks. Plus, what about those without reliable internet or bank accounts?

Cashless can work outside of the commercial banking system also compared to most countries trinidad has a better mobile cellphone and data adoption rate.
Again , no one needs to phase out money the old people will phase out themselves

"The old people will phase out themselves" meanwhile there are more old ppl than young ppl around

[pugboy]

going cashless will allow govt full control
just like how they do with usd

[Les Bain]

What about our population of alms seekers: the homeless and the ones with the long story placards asking for small change? Will they age/die out or would they get an apped out Rowleyphone with data to get a lil $3 transfer?

[i_code_and_stuff]

my 2c:

- no society is ever ready for any sort of technological progress, that doesn't mean we shouldn't try
- the word "cashless" does not reflect what the government - more specifically braccus and imbert - has expressed what they actually want to do, which is to reduce our reliance and the prevalence of cash, not to eliminate it. This is inline with what every developed country has transitioned to, and what every other country is moving toward. The term "cashless" unfortunately is easy to say and catchy, so it became widely used by most of the population without an actual understanding of what it means. But this is going to happen eventually regardless of all the ridiculous tinfoil conspiracy theories
- the convenience and security when digital payments are dominant is night and day when compared to what we have now, and we would all greatly benefit from it, and people who are old/stubborn/ignorant/whatever word you want to use should not stand in the way of that.
- that said, the current situation with the banking sector needs to be addressed if we want to make this feasible. banks can't be allowed to run unchecked with the insane amount of predatory, corrupt shenanigans that they currently do if this initiative is to take off
- so imo if the question is, "are we ready?" the answer is "obviously not". that however doesn't mean we can't take the steps to get there

[j.o.e]

going cashless will allow govt full control
just like how they do with usd

You think the govt doesn’t have control of your bank accounts ?
You think the govt can’t phase out your cash ?
Yall really need to take off the tin foil hats.
If you don’t want to use a digital system that’s fine, just allow a system for those who are willing to.

[paid_influencer]

going cashless will allow govt full control
just like how they do with usd

You think the govt doesn’t have control of your bank accounts ?
You think the govt can’t phase out your cash ?
Yall really need to take off the tin foil hats.
If you don’t want to use a digital system that’s fine, just allow a system for those who are willing to.

yup. for all the ole talk about the govt have too much control and etc... how much cash exactly you have under your mattress compared to in the bank?

all that control or whatever already gone regardless if you can pay for your doubles by tapping a card

[timelapse]

my 2c:

- no society is ever ready for any sort of technological progress, that doesn't mean we shouldn't try
- the word "cashless" does not reflect what the government - more specifically braccus and imbert - has expressed what they actually want to do, which is to reduce our reliance and the prevalence of cash, not to eliminate it. This is inline with what every developed country has transitioned to, and what every other country is moving toward. The term "cashless" unfortunately is easy to say and catchy, so it became widely used by most of the population without an actual understanding of what it means. But this is going to happen eventually regardless of all the ridiculous tinfoil conspiracy theories
- the convenience and security when digital payments are dominant is night and day when compared to what we have now, and we would all greatly benefit from it, and people who are old/stubborn/ignorant/whatever word you want to use should not stand in the way of that.
- that said, the current situation with the banking sector needs to be addressed if we want to make this feasible. banks can't be allowed to run unchecked with the insane amount of predatory, corrupt shenanigans that they currently do if this initiative is to take off
- so imo if the question is, "are we ready?" the answer is "obviously not". that however doesn't mean we can't take the steps to get there

You are right ,but forgot one other thing.Trinidad is a corrupt rotten cesspool of fraud.

[zoom rader]

going cashless will allow govt full control
just like how they do with usd

You think the govt doesn’t have control of your bank accounts ?
You think the govt can’t phase out your cash ?
Yall really need to take off the tin foil hats.
If you don’t want to use a digital system that’s fine, just allow a system for those who are willing to.

The developed countries want nothing to do with cashless BS.

Quoting India is pack of BS

[j.o.e]

going cashless will allow govt full control
just like how they do with usd

You think the govt doesn’t have control of your bank accounts ?
You think the govt can’t phase out your cash ?
Yall really need to take off the tin foil hats.
If you don’t want to use a digital system that’s fine, just allow a system for those who are willing to.

The developed countries want nothing to do with cashless BS.

Quoting India is pack of BS

Wrong again Zoomie

Which countries are closest to a cashless society?

It’s difficult to quantify this question and provide a definite answer, especially as the studies on this are hard to carry out across numerous countries. Typically, we’re relying on each country’s data and approach to cashless payments. But based on current data trends, we can say that the following countries are the closest to becoming cashless:

Norway

Norway has an unbanked population of 0%, meaning every single citizen has a bank account. Only around 2% of payments in the country are made with cash.

With 32 ATMs per 100,000 people, Norway is currently one of the most likely countries to become a cashless society.

Finland

Finland has similar numbers to Norway, with 0% of the population being unbanked and 37 ATMs per 100,000 people. The Bank of Finland estimates that banknotes will no longer be in use by the end of 2029.

Sweden

Sweden was the first country to issue banknotes, however, it is now one of the leading countries to use mobile payments. Sweden’s usage of mobile payments is also very high, accounting for around 20% of transactions. Currently, only 1% of payments in the country are made with cash.

According to some predictions, Sweden should already be cashless, but that hasn’t happened yet, largely due to elderly people still using it.

Following in the steps of Finland and Norway, 0% of its population is unbanked.

China

Compared to the other countries on this list, a lot of China’s population is reliant on cash. However, in 2020, the Chinese government rolled out an experiment to see how well digital currency would function. This experiment was so successful that it is now expected that China will become a cashless country in the near future.

Digital payments are so popular that China has now made it easier for foreign visitors to make cashless payments. Previously, a Chinese bank account was needed to use popular payment apps Alipay and Wechat, however, visitors can now link their bank account to these apps.

New Zealand

New Zealand boasts a hefty 54 ATMs per 100,000 people and has an unbanked population of 1%. However, the cyclone that hit NZ in February has exposed the risks of cashless payments as cash machines and payment services were wiped out. New Zealanders found themselves unable to buy necessities, forcing the central bank to reconsider the importance cash can play in societies.

United Kingdom

In the UK, 17% of consumers prefer paying by cash, however, this is a much larger figure compared to other countries on this list. Despite this, the UK is still one of the leading countries for cashless payments which is why many businesses are considering whether or not to go cashless.

The UK has one of the highest ratios of ATMS, with 99 ATMs per 100,000 people.


Even doing 20% of your transactions digitally is very good. So there will be room for the people who like the old school way. Simple.