E-cash Taking Place of Real Money

Pasmo IC-cards, Suica, Edy are RFID/IC cards that allow Tokyoites to ride trains and shop without money…well, sorta.

It's kind of like plastic money in the states except the cards are embedded in a host of mobile phones…Osaifu-keitai (mobile wallet).

A couple of problems still exist – All of the IC cards still are not compatible with one another…but getting there.

Only people who can secure credit can use the system. Payments are made when a monthly bill arrives.

That might be one way to keep the homeless off the trains. No?

And another way to get people to run up huge bills that they can't pay, too.

I think I can get by without cash. I reckon if the magnetic strip on my cash card found its way into my cell phone…I'd be good to go.

How about you?