No Free Lunches – Next MDC Webinar Covers Hidden Cost of Payments

The next webinar from the MDC (Mint Directors Conference) takes place on 16 September on the topic of ‘What is the Cost to Consumers and Society of Cash v the Cost of ‘Electronic’ / Digital Payments?’ The saying goes that there is ‘no such thing as a free lunch’. When we buy something we are seldom confronted with the costs of making that payment. This webinar seeks to understand those costs, both financial and societal.

The financial cost of payments is fiercely debated, since an objective assessment depends on the starting point and the assumptions. In addition, the digital payment sector is famous for making transaction fees and charges opaque and hard to understand.

The societal costs include the cost of crime, financial exclusion, privacy, the environmental impact, resilience and more. Again, achieving an objective comparison is hard.

The panel comprises three speakers from across the payments spectrum, but largely from an academic background. They are Prof Franz Seitz – Professor of Economics, specialising in Monetary Policy and Financial Markets at Weiden Technical University, Prof Pasquale Sgro – Chair in Economics, Deakin Business School in Australia, and Guillaume Lepecq – Chair at Cash Essentials.

Leading the panel will be Ross MacDiarmid, MDC Executive Officer and former CEO of the Royal Australian Mint, supported by John Winchcombe, Editor of Cash & Payment News.

The webinar is open to all and (unlike lunches) is free of charge. Registration details can be found here.