The big change scaring many over-60s

“Anxious and confused” is how the ABC have labelled you in a report done earlier today.  The reason that they have written this is that Combined Pensioners and Superannuants Association spokesperson Paul Versteege believes that the over-60s are put off by a cashless society.

According to their research, the idea that you get paid your income, pay your bills, and even make purchases without touching a single note or coin presents “serious security concerns”. As per the ABC’s editorial piece, “The CPSA says it comes down to trust, wealth, and education.The belief is that one top of the security concerns, it’s a matter of how much money you have.  If you are on a budget, they assume that you don’t have a smartphone capable of doing cashless transactions or using the phone with a banking app as your debit card. According to the report when it comes to education, “The CPSA says many seniors are fearful of who is monitoring their online activity. They don’t trust that what they are doing online, in terms of internet banking and paying bills, is private.”

This is the face of other research done all over the world that shows that over-60s are leading the world in using cashless tech.  The also ABC did interview an over-60 named David who said, “If you’re talking to 55-to 75-year-olds who are on top of the technology, I think most would be reasonably comfortable, provided there is the security being offered for those transactions”. So there is hope that the Aunty understands the power of the over-60 tech user, but does demonstrate that some other companies may need some education of their own.

What do you think about it all?  Do you worry or welcome a cashless society?