Online banking taking off
Couldn’t access Google for a little while today, so Hugh Blair (via thelist) recommend I try the Google mirror. Glad I did.
Following up on yesterday’s post about cashless societies, a recent study indicates Canadians are quickly embracing Internet banking and use “card-based payments (debit or credit) more than two to one over paper-based payments (cash or cheques)”.
The number of people banking online has doubled to 18 percent over the past two years, and is expected to increase by another one-third in the coming few years.
The growth is eating into ABM and telephone banking usage, which could mean the banks will need to hike the cost of online banking to make up for the losses. In-person banking has remain flat, however. (Probably because those still doing their banking in-person value the human contact tellers can provide and/or can’t access online banking.)
While The Toronto Star produces fascinating investigative pieces about the cyber war between police and bikers, it’s tabloid rival — The Toronto Sun — produces the most disgustingly flagrant puff-piece I’ve ever read.