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Monday, June 25, 2007

CASHLESSNESS

Cash machine inventor predicts its demise


The inventor of the ATM cash machine, John Shepherd-Barron, believes their use in future will be very different.

On the 40th anniversary of the instalation of the first machine, the inventor predicts people will no longer be using cash within a few years.

"Money costs money to transport. I am therefore predicting the demise of cash within three to five years."

He believes fervently that we will soon be swiping our mobile phones at till points, even for small transactions.


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