The end of cash? ‘Cloudmoney’ explores the risks of mobile payments

Scott explains why he thinks this supposedly progressive way of thinking could have dire consequences. — dpa

MUNICH: In many major cities, it’s become possible to get by without ever having to withdraw cash. Even street vendors now often accept digital payments using mobile payment services like PayPal or Apple Pay, meaning no matter how small the sum, we’re spared the trip to the ATM.

Author, journalist and activist Brett Scott explores this trend in his new book Cloudmoney: Cash, Cards, Crypto And The War For Our Wallets, challenging his readers to question whether cashless payments should really only be thought of as “inevitable progress”.