When asked about the future Wait said that we are all moving towards a cashless society.
His vision attracted adventurers, idealists, freeloaders and a few people of practical skills who quickly grew disillusioned with the attempt to create a cashless society.
Cheque payments in Ireland represent 56% of total cashless transactions by value, or 33% by volume.
It is hoped that the cashless system will save less well-off students from embarrassment and lead to greater equality among classmates.
The next step will be forcing the move to a cashless society, controlled by a central authority.
The Executive, which has been funding cashless canteen schemes, said that it had intended the cards to be used primarily for dinner halls and it was individual councils that had decided to use them for registration.
With the so-called cashless society still some way off, ATMs, in my view, will remain a vital part of our everyday lives for many years to come.
Most people accept the move is on towards a cashless society, but small business will have to be presented with a better proposition and they will have to be assured the benefits will not be confined to the banks.
Outside the big cities, much of the countryside is now reduced to operating a barter system, coining bitter jokes about Russia beating Germany, Japan and the United States to become the world's first cashless society.
There are 9.6 million bank accounts, a disproportionate amount for the country, but these are accounted for by recent growth in debit cards and cashless salary payments.