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Billion Dollar Deals and How They Changed Your World
E2 of 3
About
Episode Guide
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Series 1 - Episode 2
Money
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Review
by
David Butcher
Jacques Peretti looks at digital payment systems this week. Sounds dull? Not a bit of it: the nuts and bolts of the drive to rid the world of cash are fascinating, in a mildly disturbing way.
Peretti relates how when RBS were trialling the technology that would become contactless payments, they noticed that using it meant people didn’t just spend quickly, they spent [italics] more.[italics] (A scientist has located the unconscious “pain of payment” reflex in the brain that contactless can bypass.) Also: how a Vodafone subsidiary took over the money supply of Kenya.
Summary
Jacques Peretti explores the deals that shaped the way people understand money. From the invention of PayPal in the 1990s to the smartphone app economy that followed 10 years later, he reveals how technology giants brought about the digital payment revolution. He investigates why people are choosing to turn their backs on using cash, as card and contactless transactions become the most popular way for people to spend their money, and explores what is going on behind-the-scenes in the world of digitalised spending.
Cast & Crew
Presenter
Jacques Peretti
Director
Will Yearsley
Director
Stuart Bernard
Executive Producer
Emma Cooper
Executive Producer
Ceri Aston
Education
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