Amazing.
Back in my high school days, I ran across a magazine article depicting the future of monetary transactions. The author boldly proclaimed the coming of the cashless society. It was pure science fiction if it weren't for the fact that the technologies he mentioned were already existing.
He talked about more comprehensive online bank transactions, cellphones being used as alternative e-wallets (people could just swipe them at machines to pay their bills), the demise of the checking account, the rise of better debit cards so you won't have to look for loose change, the ubiquity of handheld terminals among vendors to facilitate electronic purchases, and the like.
It was a fascinating read but, for a resident of the Philippines, it was still quite far-fetched. I mean, can you really expect a mango vendor to sport a nifty gadget that accepts ATM or credit card payments?
Still, it's nice to dream. Moreover, Sweden has shown us that such a cashless society is now their reality.
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