Mar
5
ATMs: Money in Transition
March 5, 2007 |
Another paradigm shift for our digital economy involves ATM machines.
It seems that ATMs are poised to go the way of the fax machine. Just as fax machines were the height of convenience when it came to transferring paper from one place to another, the ATM machine became the device we couldn’t do without when it came to getting hold of another paper product; money.
Well, it seems that paper money is just another artifact from an earlier time. There is a Visa commercial on television that depicts a busy diner (or deli) at breakfast time. Things are humming. Eggs are flipping, customers are strutting, and, at what was formerly known as the cash register, Visa cards are making the check-out smooth and easy. It’s like a well-oiled machine. (sorry old metaphor) It’s like a smooth and speedy Internet connection.
Then everything screeches to a halt. Someone has the audacity to come to the check-out line with dirty, crumpled paper money. All are aghast. The music stops. The people stop strutting. The eggs stop frying. Finally, once the heathen interloper departs, the party begins anew. Music starts. The eggs are cookin’. The line is moving. All’s right with the world.
Welcome to the Contactless World of Visa
So things will be faster and more efficient. No need to carry that dirty money around with us anymore. And no stopping at the ATM for some fast cash because the Contactless system saves us a step and makes things more convenient. So, as the ATM becomes a thing of the past, I can envision a new breed of NYC panhandlers trading in their paper cups for portable, wireless Contactless terminals.
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