The signs are not good at all. The early morning queues at bank branches as customers scurry to secure access to the deposits has never made sense. Especially, when by midday the throngs disperse without customers having access to the cash they need for their quotidian needs. The cashless economy hype is simply that. The domestic financial services industry’s infrastructure has not invested enough in the equipment and processes required to hold up its end of the conversation in a zero-cash environment. This explains the epidemic of dispense errors. Not too long ago, you were likely to see these reversed within a day. Not anymore. Now they hang about like the mythical wraiths of murdered victims ― miserably hoping for some sort of closure.
Can any economy account for the labour time that we have lost over the last three months? Whether at the supermarket checkout counter, or at the filling station ― five to 10 minutes are now added to each transaction simply to…
