[ploggingdev]

No mention about the privacy implications of having every transaction tracked? We're already at a point where pretty much every transaction is tracked and a cashless society makes being tracked a requirement to function in society. Is privacy even a topic of discussion with governments looking to go cashless?

I still try and pay with cash wherever possible, but many offline/physical stores often require a phone number or email address to complete a transaction, so privacy goes out of the window even when using cash.

[avaika]

Good point. There is a rumor among my local IT fellows, that some banks who also run an insurance companies (or partner with some) share transaction information with insurance guys to help them identify whether discount is possible for a specific person or not. E.g. if someone frequently spends a lot of money in pubs, most likely that someone will have health issues sooner or later. So better to increase the insurance fee.

For sure such information trading is illegal, but as the government doesn't give a single care, most likely it is true.

[clubm8]

>There is a rumor among my local IT fellows, that some banks who also run an insurance companies (or partner with some) share transaction information with insurance guys to help them identify whether discount is possible for a specific person or not. E.g. if someone frequently spends a lot of money in pubs, most likely that someone will have health issues sooner or later.

Or worse, what if they decide you had too much pub spending/fast food, so you can't get that new organ you need?

I keep my "entertainment" budget (pubs, eating out, etc) in cash for this reason.

[crispyporkbites]

This doesn't make much sense - insurance is about sharing risk amoung common entities, so increasing the premiums based on risk on micro-factors isn't really that helpful. You would probably get good enough performance from a couple of basic, easily obtained variables (age, weight, family history), instead of tracking, organizing and figuring out all of these variables.

[ryacko]

Still, they can decide how high a risk a person is by how much they withdraw in cash.

[pixl97]

Few actually require that information. Just say no thanks, and they continue without it.

[karmenblack]

Maybe they already have it...

[cududa]

It’s not a requirement. You don’t have to tell them.