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I'm offering odds on that's it's actually a CIA plot...

Never mind no stripe or PAN, I don't see a chip either. 

Marlo Stanfield: That's my money. 
Omar: Man, money ain't got no owners, only spenders 

They "may" have stolen half a million credit card numbers? Did they or didn't they?

(Remember "How to get ahead in advertising" -- the bag "may" have contained a pork pie)

"how many people would be willing to carry a stack of closed-loop cards, one for each store they visit?"

None. That's why their phones will do it for them.

Blame the people who designed the acquiring network at Wembley. They should have given all of the concessions a Square or an iZettle or whatever as backup.

My son has just returned from the Sziget festival in Hungary: 385,000 people there for a week and _entirely_ cashless. It worked perfectly.

Attention fraudsters: I've stopped signing Carlos Tevez. Thanks to my unbreakble, Enigma-style algorithm, you'll never be able to guess which South American Manchester City striker I'll be using in future.

You conservative Dave. Cards are unnecessary. What was wrong with cheques? You don't need a dongle to accept a cheque.

Thanks for these reflections Liz. Just for clarification, the Chatham House rule is that you can say what as said, but not who said it. It's perfectly OK to say that someone said "X Y Z" at the meeting.

Look forward to seeing you at the final meeting in the series which will be on February 21st.

Surely the solution is simple: people who want cheque guarantee cards can pay for them. They would only cost £20-£30 each per annum I would imagine. The members of the Treasury Select Committee could always have a whip round. P.S. What was wrong with the Farthing? It was good enough for my great-great grandfather. P.P.S. Here's my suggestion for "A new payment instrument for Britain" that I will send to the Committee. https://www.chyp.com/media/blog-entry/a-new-payment-instrument-for-britain