193
No credit card? No smartphone? No parking: Parks Canada ditches cash option at Rideau Canal lots
(ottawacitizen.com)
this post was submitted on 24 Oct 2024
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I work in fintech, specifically in the payments industry for a company that has a huge vertical spread. And damn let me tell you, we (along with the big ones like MC, Visa, Amex) just skim the delicious foam off the top of everything... right into the pockets of the exec team who keep doing weekly stupid motivational videos from every corner of the world.
I think governments should start thinking about nationalizing the shit out of this instead of everyone paying these stupid nepomonkeys. I don't care if I'd be out of a job, I can find something else.
I used to work for a company that converted coin-based parking meters to contactless card payment. And I completely agree.
Payment by card/app saves the companies a ton of money because they donโt have to handle cash โ the guy going around is now just a fact checker and the automated systems handle the cash.
Previously, some cash was โlostโ at each touch point (human handling the cash) in the chain; now this is replaced by higher fees, and a percentage going to fintech executives directly.
Oh yea. It's ridiculous that governments have let financial transactions be a private company thing.