This is very bad, the less dwindling amount of non digital forms of payment which are accepted, the closer we get to the surveillance state being able to track and cut off a non compliant citizen with a push of a button. Cash and Checks are necessary, doing away with Cash being their next obvious target (no pun intended)
Checks are still effectively digital though. When it gets cashed or deposited there’s a digital transaction recorded, with the payer and payee listed. And a personal check is tied to the checking account that can be tracked or deactivated instantly if that’s a concern.
This is very bad, the less dwindling amount of non digital forms of payment which are accepted, the closer we get to the surveillance state being able to track and cut off a non compliant citizen with a push of a button. Cash and Checks are necessary, doing away with Cash being their next obvious target (no pun intended)
Checks are still effectively digital though. When it gets cashed or deposited there’s a digital transaction recorded, with the payer and payee listed. And a personal check is tied to the checking account that can be tracked or deactivated instantly if that’s a concern.
Yes, they are just an inefficient way to digitise a payment.
Checks have been processed identically to debit cards since about 2008, with Check21, so this changes nothing.