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A comment on Australia’s new real-time banking payments platform. Parent comment

Re:Australia’s new real-time banking payments platform by dav43 on Tuesday February 13, 2018 @06:11AM (#16366265)
A big reason for this system is tax.

The thought being if all payments in Australia are seamless and instant AND recorded, there will be no need for cash. Business will no longer be able to hide revenue.

They will make up this spend very quickly.

[ Parent | on HN ]
Re:Australia’s new real-time banking payments platform by sumedh on Tuesday February 13, 2018 @06:53AM (#16366434)
> there will be no need for cash.

There will always be need for cash, business who want to pay employees cash in hand and employees/immigrants who are desperate for jobs will accept less than minimum wage in cash

[ Parent | on HN ]
Re:Australia’s new real-time banking payments platform by nickonline on Tuesday February 13, 2018 @07:01AM (#16366468)
neither of these are acceptable government business reasons to keep cash
[ Parent | on HN ]