Last week I had the excellent opportunity to speak at Techweek on the subject of cashlessness. All were ANZ people, but I was able to bring a slightly different perspective, both from fraud analysis and from Givahoy’s generosity angle. You can watch it here:
I think it’s worth elaborating on my contribution a little.
In the first question about fraud and cashlessness, my point was that fraudsters can only take the cash you carry, while cashless alternatives fundamentally enable fraudsters access to all available funds via credit card limits or bank accounts. However, it is important to add that, from a customer perspective, their risk is lower. Banks will reimburse victims of fraud according to rules and regulations. Plus, of course, the excellent work done by the fine fraud teams of all the banks means that losses are generally mitigated and halted early.
But the point is still valid: digital payment means carrying around all the information required to take money from you. And that, to me, is not the same for giving. Giving is not a transaction.
The second question was about my approach to helping people give while cashless. Generosity should, in my view, be sincere and straightforward. Viral marketing and manipulative, emotive messaging aimed at harvesting contact information for future donation mining is cynical and plays into a similar mindset that I spend my days trying to protect people from! And it does mean that well-funded, strongly-partnered charities will be in a better position to take money from well-wishers, as they will be able to disseminate their messages as well as have simple payment (rather than giving) options.
I enjoyed this a lot and would love to do more, and build on the ideas I’m looking to nurture. I hope you have a watch.