Merits and Demerits of Cashless Economy

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Devansh said: (May 17, 2022)  
What do you mean about black money? I am not very familiar with the term. But I agree with the other comments. Cashless economy is a major leap forward to growth. Plus, it's extremely convenient too.

Rate this: +1 -1

Supi said: (May 5, 2022)  
Everything comes with cons and pros. Because of reference frame of ours.


I will say that it wipes help in saving the environment because of the less paperless sacrifice of trees.

Also, there will be less flow of money in the market.

Black money-related problems would be solved.

More money in the market leads to inflation.


Many Indians don't know the digital ways so it will be difficult for them.

More than half of our population is poor or below the middle class. They earn the day they spend. They don't want to go to the bank and give money of small amount that they need for day to day requirements.

Rate this: +13 -5

Mrutyunjay said: (May 5, 2022)  
Hey guys. First of all, I would like to thank you for giving me such a wonderful chance to share my view.

In this evolving world, a cashless economy is a major step toward an easy way of living e. G it makes it easier to do business transactions at any time without even giving a thought about having cash in hand at that moment. Another plus point is that it takes too little time and as it is cashless so there is less chance of theft.

The best part of this is in time of need of someone, you can send money without following any long-term old bank deposit way.

However everything comes at a cost, so here the cost is online fraud, sometimes network glitches and fewer awarenesses of this technology.

Thank you.

Rate this: +9 -0

Sadaf Khan said: (Apr 6, 2022)  
Every coin has two sides.

As well as this topic has merit and demerit. If talk about the merits. Are server merits?

1) if our country is cashless so we grow our economy because there is no existing black money.

2) Taxpayer increases.

3) Many apps will launch. When the app is launched employment is automatic increases and then when employment increases so demand is also increased when in demand is increases economy automatically more growing.

4) if our country is digestion in the money sector so small banks also grow up because they provide loans and they take interest from people.

If Talk about demerits.

1) Everyone has not purchased a digital phone so how can they survive in this era.

2) And what about cyber security there is a lot of fraud in digitalization and cashless.

3) The person does not know how to use mobile and how to use phone pay and Google Pay how to they use.

Rate this: +28 -5

Swapnil Dhage said: (Apr 6, 2022)  
In my opinion cashless always beneficial for our country. In almost every developed country cashless transaction is used.

Cashless transactions have several benefits such as cashless transaction is saving our time. As many apps launched in the market such as phone pay, Google pay, etc.

We don't have to carry money all the time, it is another advantage. Due to this transaction system, there is no problem of change while buying anything. With the help of these methods, we can complete our work in one snap.

Rate this: +14 -1

Devika R Singh said: (Mar 21, 2022)  
The cashless economy is growing and irrespective of whether we like it or not, it is the future.

Let's look at reasons why it is inevitably the way forward,

A) It saves TIME. The bustle of waiting in ATMs/Banks for cash and looking for a change in case of smaller transactions is eliminated. Transactions can be made by the click of a button.

B) It helps the government keep a check on all financial activities. This not only prevents IT frauds but also aids in better management of monetary resources.

C) It makes international transfers much easier, attracting foreign investments and thus giving a boost to the ever-growing international trades.

D) It also makes it easy for individuals to manage their finances, one doesn't have to worry about updating their passbooks or keeping a check on their chits because a cashless economy helps them easily invest online through mutual funds and various other methods.

E) Cashless transactions have made spending money much easier for a middle-class man, one can order food sitting at home and can access entertainment platforms remotely. As a result, there are increased employment opportunities in new sectors.

As fast as cashless transactions have taken control of our economy in recent times, it is important to note that there are various threats that accompany this move,

A) People with half baked financial knowledge find it easier to invest now and hence end up putting their hard-earned money blindly into cryptocurrency, NFTs and similar modes in high hopes that they will receive high dividends only to end up with huge losses the majority of the time.

B) Most people with poor economical backgrounds aren't exposed to the harsh realities of the internet world and fall prey to fraud online stores, brokers and various other scammers.

C) Cashless economy gives you the luxury of spending money sitting at the comfort of your house and this has led to people spending more money on online platforms of big companies. This financially hurts local shops that rely on people physically coming to their store to buy their products.

Rate this: +15 -0

Shivani Dutta said: (Mar 2, 2022)  

When it comes to making a cashless or digital economy it doesn't only make you save a large amount of time which you could've wasted roaming around govt offices but also it is very affordable.

2. We have been seeing the transformation that has come after adopting Aadhar. How direct benefits are going to the people's Bank account and how it made the system transparent.


There could be online cyber frauds that are on the rise these days.

2. A large population of our country do not trust this system.

3. A large chunk of the rural population would find themselves disconnected.

All in all, we can conclude that a cashless economy is beneficial for all in this country but people should be given appropriate knowledge about how to deal with fraud. If we want to make a modern India we should adopt the current technology at the right time but at the same time we must not leave behind those who are not much digitised.

Rate this: +20 -3

Pavikumar T said: (Feb 17, 2022)  

First of all, when it comes to Cashless money. The person who knew to hack is only able to steal the money from your bank account.

There is no physical money, so no chances for roadside robbers.

We don't want to go to the bank and stand in a queue.

Fake paper money's difficulties do not happen.


Network issues stop to make digital transfers at emergency times.

We are giving our bank data's to private applications instead of government-related banks.

So, Chances of misuse will be there.

Rate this: +16 -1

Shravan said: (Feb 7, 2022)  

I am Shravan.

A cashless economy means there is no physical contact between the receiver and sender.


It very uses full for government to monitor heavy transactions. And it helps to reduce corruption. It helps to reduce the paperwork. It saves time. Overall it is very safe who well educated about technology and operations in net banking.


In India technology developed only in metropolitan cities. Awareness about online frauds was not up to the mark. It is very tough to go for cashless payments who don't have a proper education in online payment.

Rate this: +17 -4

Anjali said: (Jan 25, 2022)  
Let's first understand the term 'cashless economy', cashless means exchange of funds by the use digital money and economy means the prosperity and earnings of particular place or area.

In this world, everything has it's own merits and demerits. Similarly, if we talk about the merits of Cashless Economy, some of them are that it eliminate the paperwork, it saves the time, speed up the official work, eliminate the long queues in bank, help in the development of the Digital India and there are many more.

Now, if we move forward towards the demerits of Cashless Economy, one of the demerit is that it is of no use for illiterate people, some time transaction also get failed at the time of urgency.

Online fraud is one of the most common demerit of Cashless Economy, anyone can be the victim of online fraud.

Government is doing their work in this field but all over what we have to do is that we have to become more aware, more preventive while making the use of digital money or while doing online transactions.

Rate this: +31 -1

Abhijit Patua said: (Jan 14, 2022)  
Hello everyone I'm Abhijit patua

Definition of cashless economy.

* Cashless economy means that online transaction Where the money will not be exchanged, like called that digital India.


* It will take less time.
* There will be no paper cost for the notes.
* Any money can be paid in retail.
* Money is not likely to be wasted.


* Firstly Must be educated to exchange money.
* Always important network connection.
* Everyone needs to have an Android mobile which is not possible in reality.
* Eligible to rely on mobile and Internet connection at all times.

Rate this: +17 -5

Mukesh Panwar said: (Jan 7, 2022)  
Hello everyone.

The advantage of a Cashless economy is that,

It reduces paperwork, and do work very fast,

It also saves pen, paperwork and it is very convenient for the government to monitor every transaction easily. Cashless economy empowered County toward development, it reduces time so that it helps in improvements of economy, fast transaction save time which eventually boosts up the economy.

Online fraud can be detected easily and soon comparing cash fraud. A cashless economy improves school, college, hospitals, and other government and non-government official work speed.


Online fraud has been done by founders targeting illiterate people, it increases online fraud.

Conclusion : It would be better for improving the Indian economy and beneficial to save data at single platform.

Rate this: +8 -2

Vijendra said: (Dec 3, 2021)  
Hi everyone,

In my opinion, the cashless economy is in comparison to cash eco. Has many benefits and advantages.

There was a time when we use to deal with every financial activity with cash only whether it was purchasing property, vehicle or any other commercial transactions and no doubt there were problems in doing so.

Problems such as long queues in banks, shops, corruption due to no transactional record, delay in work etc.

Upcoming decades after 2040 will have a cashless economy, this will save time along with paper and inks that we use now for printing notes.

Rate this: +34 -5

Nish Babar said: (Nov 29, 2021)  
First of all, we understand what is a cashless economy.

So the economic term is related to money, wealth.

But cashless economy means when the transaction is not based on paper notes, coin in short the transaction is done by without cash is called cashless economy so here all transactions in the form of using digital money like bitcoin, cryptocurrency.

According to me, the cashless economy is better because it reduces corruption or illegal money also helps to reduce the risk of keeping money through oneself.

Also, it helps to speed up transactions so time reducing.

It helps people to easy access for buying or purchasing something.

It can be used everywhere no need to hold a pocket.

But it has some demerits like it has major risks like cybercrime.

Specialized skills are required so common people not understand easily this type of transaction in the market.

Illiteracy is the major problem across cashless economy.

Rate this: +37 -3

Dev said: (Nov 27, 2021)  

1. It is easy to send money without carrying cash.

2. There is no fear to steel it.

3. All over the world you can send or receive money in a few seconds.

4. Use of cash less economy, paper and trees will be safe.


1. Without the internet, a cashless economy no of use.

2. Afraid of hackers.

3. It is no use of an unadulterated person.

4. Without a mobile phone/laptop/computer it is not possible.

These are merits and demerits of cashless economy.

Rate this: +27 -3

Udaya Chandra said: (Nov 23, 2021)  
Hi everyone,


1. No fear of stolen money.
2. Save paper and trees.
3. Black money can reduce.
4. We can transfer money from anywhere.


1. It needs internet.
2. Only educated peoples can use.
3. Lot of hacking problems.
4. It losses money jobs who are working under banking sector like ATM Feeder, securities, money deposit vehicle drivers.

Rate this: +22 -1

Poornima Babu said: (Nov 13, 2021)  
Hi everyone.


No need to carry money.
Save paper save trees.
No fear of money stolen.


Uneducated people's will not use it.
Transaction error.
Hackers hack our money.

Rate this: +10 -3

Sowji said: (Oct 23, 2021)  
Hi Everyone,

* Lossing of money is less.
* No need to carry much amount of money.
* Easy transaction anywhere and any time.

Demerits :
* Known people only will use.
* Sometimes occurs errors in transactions.
* Be careful while using, hackers will hack accounts.

Rate this: +10 -5

Gouttam Kumar Dash said: (Sep 23, 2021)  
Hellow everyone.

Thank you so much to the jury panel for providing us with such an aware topic.

In my point of view, the cashless economy provide. Safety. Security. And our data are safe. It is enough to have the benefits.

Let's come to its Merits.

* it reduces curation.
*it reduces the printing of money.
*it helps to do faster transactions everywhere in the country.

Let's discuss its demerits.

*it needs a strong network connection.
*it needs literate people.

Rate this: +35 -8

Wajid Shaikh said: (Sep 22, 2021)  
There are some merits and demerits of a cashless economy.


1) No fear of stolen money.
2) Saves paperwork.
3) Saves time.
4) We can make payments from anywhere.

1) Not much secured.
2) The internet is a must.
3) Mobile or other devices must make payment.
4) we can't refresh or can't go back during transactions.
5) Only educated people can do.

Rate this: +20 -7

Tikachandra Oli said: (Aug 26, 2021)  
Hello everyone,

Thank you so much to the jury panel for providing us such a emerging topic.

I believe there are far more benifits of cashless economy as compared to its flaws.

Cash in itself carries a risk; including from the risk of theft, risk of tearing up, risk of fade out, risk of carrying, risk of loss, risk of transmiting disease, etc. The cashless economy will help us to get rid of all these risks. People don't need to carry a bundles of cash with them, they don't have to worry about theft, loss, fade out, and tearing of cash. Also in current pendamic situation, cashless economy will save us from transmiting the disease through cash. All the parties involved in transaction will get benifit from cashless economy.

Rate this: +36 -7

Narinder Kumar said: (Aug 17, 2021)  
Hello friends.

It is modern era and now all things are updating with a new technology which not only saves our time but also reduce our tension. A cashless economy is one of the best ideas. It has many advantages. Firstly, it saves our time now we don't need to stand up in the long queue for deposit and withdraw money. It also reduces the tension of being robbed. There is no need to carry notes with us because of ATMs, credit cards etc. Replace cash. It is safe and easy to carry. Now transactions become easy with online payment within seconds to any part of the country or world. But it requires some knowledge of using technology. In rural areas, there is often remain the problem of network. There remains the fear of being hacked if we don't follow all rules and regulations.

At last, I want to say that it has more advantages than disadvantages so the awareness should be increased so that all people take benefit of it.

Thank you.

Rate this: +27 -8

Rishabh said: (Aug 16, 2021)  
Hii everyone,

Talking about the first merits of a cashless economy.

1. It saves a lot of time for doing transactions as it takes few seconds to transfer money.
2. There is no paperwork to do, all records are digitally available.
3. Nowadays for doing banking we need minimum bank branch visits.

Now coming to demerits:

1. As the cashless economy is growing also online cyber fraud cases are increasing.
2. People living in rural areas or people who are less familiar with digital technology are more victims of such cyber frauds.

Rate this: +20 -2

Gaurav Patil said: (Aug 15, 2021)  
Cashless is a new word introduce in Indian people dictionary few years back and various discussions started.

Some of have fear of using online transaction and frauds and someone had some excitation of use new technology for transactions.

But after going long way in last few years lots of people accepted it as daily routine transaction. As its have more advantage over few disadvantages.

1) We don't need to stand in long rows of banks and ATM's.
2) We don't need to take our Wallet in our pocket before leaving home.
3) We can do any business with small asset.
4) We can grow our business unlimitedly without physical restrictions.
5) We don't need to waste our time by going market.


1) Frauds.
2) Fraud E-Commerce sites.
3) Rural people need some more time to become familiar with this new normal.
4) Minors make lots of mistake which may become big problems for their parents.

Rate this: +9 -4

Aishwarya R D said: (Aug 12, 2021)  

Any online payments can be done within a minute or so.

There is no contact between people which is very essential during this pandemic.


Sometimes the transaction occurs, but it is told that the transaction failed, making us think where the money went.

Rate this: +5 -4

Rupender Singh Shekhawat said: (Jul 17, 2021)  
Every coin has two sides, so first I speak about merit. It is very process like it take nearly 5sec to transfer money.

Second pointed it solve problem of chain. Like I have 500 rs note and I want to purchase 20 rs product it create problem for shopkeeper to give me chain.

Third point it help government to track money. And stop illegal activities.


Firstly, The technology is new and evolving. So there is lot of people send referral and try to steal your money on app like phone and Google pay.

Second like uneducated parent do not know it properly so they take from their children to transaction. Due to this power comes in children hand due to this some child misuse it.

Rate this: +36 -11

Priya said: (Jul 13, 2021)  
Merits of cashless economy:

First, don't fear theft.
Covid time cashless economy is very useful.
All money transfer is using online transaction is used for low corruption.

The cashless economy only useful to the mobile phone users.

Rate this: +17 -4

Ajay Pawar said: (Jul 13, 2021)  
Hey Everyone,

From my point of view, the cashless economy is the best thing for all of us. It will make our life very easier. And it will beneficial uneducated people who don't have knowledge for banking transaction and they were sitting in a que and waiting and wasting so much time. It's a very easy and simpler process.


* We can online pay our payments easily without any problem.
* Cash requirement will become less and no bourdon of taking care of cash.


* Mainly hacking problem.
* Suggestion for my side to everyone: If you are educated and you know the things so can help others so they can also make their life easier and government also have to provide some camps for explaining it in rural areas.

Thank you.

Rate this: +15 -2

Jerry Lamba said: (Jun 24, 2021)  
Hello everyone, according to me, they are two parts of all things first is merits and the second one is demerits. The first talk about the merits of a cashless economy is beneficial for us. We don't need to carry so much money with us. We can do payment also using Google pay, phone pay, Paytm and mobile banking. It is really good and beneficial for us we don't have any fear of theft. And the demerits are there is a huge risk of hacking accounts. And sometimes online transactions are not secured for all. But the cashless economy is motivates people to use this technology.

Thank you.

Rate this: +11 -3

Kajal Chaudhary said: (Jun 24, 2021)  
Hello everyone,

According to me, they are both side effect on the people, like merit and demerits. So, first I talk cashless economy is the best thing to growing yourself and learning new things. Like I am purchasing something from somewhere and I don't have the cash to pay so I use of payment mode like Google pay, phone pay, and mobile banking so, if I know how to use then I get benefits of the cashless economy but if I don't know about this process this system how it works and also I don't have a smartphone so I can't get this benefits. So these all things are really important in our life.

Rate this: +7 -2

Aman said: (May 28, 2021)  
Hello everyone.

In my opinion, going forward to a cashless economy is the right step for the future. It basically means the digitilization of cash. Like every other system out there in the world, even this has its own merits and demerits. It provides a safer method of transaction through secured banking. In the times of covid it also helps in contactless transactions. Digitalized banking opens the door at home services where an individual need not wait at long queues and spend his/her entire day in the bank. Most of the local vendor nowadays are shifting towards cashless transactions which in turn helps them to keep a legitimate, safe and a reliable method to track their incomes.

Despite its merits, there is one big problem right now which will be eventually sorted out in the future is to reach of the program. Not many people are aware or know how to run online banking websites. Many banking sites don't have a very easy user interface which makes online banking a hectic and time consuming process. Although online banking exists there are some processes which require human verification hence we can say that it isn't completley digitalized.

Rate this: +27 -1

Divya said: (Apr 9, 2021)  
Hello everyone,

A cashless economy is defined as the flow of currency through electronic devices such as debit/credit cards or as the name suggests 'cashless' there is no flow of cash. The cashless economy is having own boon and bean. It is a good initiative taken by the government of India.


A cashless economy is useful for the measurement of the accurate flow of money from one bank to another bank.

It is a useful small scale business where clients can send the money within seconds. Customers need not stand in a long queue where they can pay their bills.

Paperwork has reduced and transparency in economic activities.

It will help in the growth of infrastructure and it very for developing country.

Many platforms like amazon pay, phonepe, google pay make people's life easier. People or customers can't carry valuable things with them.


Cybersecurity is the major drawback of the cashless economy. People who are lack technology with the use of mobile and technology will lead to a big problem.

In my opinion, a cashless economy is a revolution for the country. This is a great opportunity to improve our security in the digital world. Overall view on this topic is going significant change in all financial matter.

Rate this: +34 -2

Dnyaneshwar Doke said: (Apr 7, 2021)  
Hi everyone.

In my view, cashless economy is a most worthly thing today.

Merits of it include:

- accurate measurement of money in terms of huge amount to being measured. It helps many of us who forgets money at home when we go outside or even if we don't have money in our pocket but in our bank accounts, the cashless way will help us by the available amount in our hands at any time & anywhere. It also protects us from thieves from stealing money as it is riskier because there might be fighting between us and thieves just because of money.

A cashless economy helps the government by giving a calculation of each rupee and avoids the storage of money as like black money which avoids any malpractice related to money.

As a coin has two sides, this concept also has demerits:

Detailed information must be needed to one who has to do cashless or online mode money transaction.

One wrong key will get someone in huge loss Of money.

Deep care must be taken in order to do online transaction i.e. beneficiaries whole information is required.

Password or OTP for this process must be kept secure otherwise it may lead to loss of money.

Sometimes network issue arises in rural areas as it leads to going transactions in pending mode and we have to wait for it to clear the same.

The allover cashless economy will best initiative, troubleless effortless, but with some precautions.

Rate this: +13 -1

Abhishek said: (Mar 30, 2021)  
My views on cashless.

In my opinion, a cashless economy is the best option for a developing country. There is less chance of stealing money from the wallet. There is no need to carry money all the time we can use online transaction for payment.

In 2014 online transaction is introducing to the nation. According to the reverse bank of India between 2014 to 2017 online transaction has been done 2000 crore. Rbi also issues the guidelines for the online transaction like do not share your pin with anyone. The cashless economy also restricted corruption and fraud but there are many demerits of the cashless economy like.

Cybercrime is one of the biggest crime problems in a cashless economy many hackers are trying to steal your money if you don't follow the guidelines according to reports some people trying to show fraud transaction to the retailer.

Rate this: +12 -3

Manisha Jadhav said: (Mar 29, 2021)  
Hello everyone,

I am here to give my opinion on a given topic.

So, first of all cashless economy is a very good initiative taken by the government. As you all know there are always two sides to anything like coins one is positive and the other is negative. So first of all we will see the merits of a cashless economy.


It is a very easy, simple process that doesn't consume much time.
No need to carry much cash with us so there is no tension of robbery safety is achieved.
No worries about change.
Control on black money.
Proof and record of the transaction is maintained.
No need to print cash and thus time and work is saved.
We can give an exact amount to anyone.
No confusion in calculating what amount should we return or got in the market.
Sometimes in the market due to a shortage of change, we are unable to buy something but due to a cashless economy, this problem is resolved.


A strong network connection is required.
Cybercrime is the problem with a cashless economy.
Some chances of frauds are there if we are not alert all time.
In rural areas, some people still don't know how to do mobile banking and internet banking so they can't go with a cashless economy.
But the overall cashless economy is becoming fruitful to digital India.

Thank you.

Rate this: +33 -2

Tushar Deorale said: (Mar 23, 2021)  
Hello everyone.

According to my point of view, the cashless economy is the need of today's world as nowadays time is not money but more than money.

Every coin has two sides.

So, the Merits are;

* Time-saving is one of the best benefits in a cashless economy.
* If we take proper care during the transition there is safe payment can be done.
* Otherwise, if you do not take care during simple payment by giving cash there is the possibility of fake people.
* There is many ways of payment like UPI GPay, phone pay, Paytm.


* Cybercrime is happening.
* Fake advertisement.

But if we take a proper care I think it can be avoided.

Rate this: +11 -2

Ankit said: (Mar 17, 2021)  
Hello everyone.

My name is Ankit and I am here to give my points on the given topic.

First of all, let me tell you what is cashless economy? Cashless economy means doing anything, buying anything without paying money in cash form.

This is really great initiative taken by pm Modi to make India digitalize and cashless.

There are so many advantages of cashless economy.


1. Due to cashless economy now we need not to wait in a que for any type of transaction, hence it saves a lot of or time and energy.

2. It keep us safe everywhere from robbery as we need not to carry cash with us everywhere.

3. We can easily make payments in few seconds without having cash with us with the help of Google pay, Paytm, Yono SBI etc.

4. We need not to fill form and wait for our time by standing in a queue in bank. Hence it saves our time, energy etc.

5. We can book train ticket, flight ticket and can pay from home sitting at any place.

As every coin has two sides it has some demerits too.


1. The biggest challenge is internet as every online work depends on internet, if there is not proper internet available we can not use these resources in proper way.

2. In villages and hilly areas there is a lot of networking issue so these resources doesn't work there.

3. India is a developing country As technology is increasing day by day hackers are also increasing that can hack our data. So there is security issue but our government is very strict against it.

4. In India there is a lot of problem of unemployment so there are many people who has no electric device such as smartphones to use these resources. So it is not available for every type of citizen.

In conclusion I would like to say that cashless economy is time saving, energy saving, that is a golden opportunity for us but we have to take care of our security, and government should also do something good in villages by solving problem of electricity, and government should also take care of our security and should take very strict action against hackers.

Thanks a lot for reading carefully.

Rate this: +50 -1

Misbagi said: (Mar 17, 2021)  
Good morning.

Cashless economy is the revolution in the digital world whether it is used in the field of business just like as a marketing field, educational field and many other governments and private sector so when our country is used is as a platform of digital interface, also when the user of the cashless economy all over world trade recognition is very vast revolve on the basis of phonpay, google pay so the using of cashless economy whatever we used a currency in modulation.

Rate this: +6 -1

Sohan said: (Feb 26, 2021)  
Hello everyone.

The Merit of a cashless economy is that it can reduce the robbery of money and easy in paying large transaction. It can also easy if we want to make a payment to the people who live in large distance by easily doing cashless transaction. It can also ease the people by helping in not going to bank for deposit their money because in cashless it directly go to the bank account it helps in giving electricity bill, gas bill and many other bill which can help the people in saving time. It also connects people digitally with technology.

Demerits of cashless money.

It may increase the cyber attack people who do not have knowledge about hacking may lose their money in a few minutes. For a cashless economy, it made the mandatory to the people to use the phone and it may also cause people to go to a bank account to getting cash because do not have the facility of using cashless transaction.

Rate this: +11 -6

Pritesh Kushwaha said: (Feb 12, 2021)  
Today we talk about the merits and demerits of cashless economy.

1. It reduces the extra time that you can use in some other works.

2. You don't need to stand in a long queue for paying your electricity bill and railway ticket you directly do this online.

3. In online you have many options pay your amount but in cash, only one option that is cash in online you have a debit card and credit card, google pay, Paytm, phonepe etc.


1. In online some people are scare because they thought it might be a chance of theft, fraud, fishing etc.

2. Some times there will be a technical issue that will happen.

3. One thing that I mentioned is when the payment failed and your amount has deducted from the account it takes 4 to 5 days to back, from my opinion it should be 2 to 3 days than people will be very happy.

Rate this: +14 -2

Swati said: (Feb 2, 2021)  
Hello friends.

Today, our topic is the cashless economy.

According to my point of view, the cashless economy is very important for our country because the world is growing too fast and we need it. Cashless economy is the root of Indian economic development. Every coin has two faces good or bad so it depends upon you how to use it. We should be learnt how to use it. If we don't know how to use online transaction it's our mistakes. If we go to the shop and suddenly ATM card is not working in the ATM machine at that time we can use an online transaction. Hence we can say how much benefits of cashless economy.

Now I am explaining the demerits of cashless economy. Cybercrime is increasing after the establishment of the cashless economy so we should be awarded.

Rate this: +37 -2

Nusrat Khan said: (Jan 30, 2021)  
Hello Everyone.

So today our topic name is Merits and Demerits of Cashless Economy.

As we all know, everything has two sides i.e Positive or Negative also.

So first we talk about Merits:

-> It helps us very well because now for electric bill, e-payment and other renting things we don't need to stand in queue for hours.


-> Demerits are it is quite difficult for those who doesn't know how to use the online method and how to transfer money.

Rate this: +14 -4

Shibu said: (Jan 28, 2021)  
Hello Everyone,

Today our Topic is cashless Economy has everything as two sides good and bad. The cashless economy also has merits and Demerits.


- It makes it easy to transaction of money.
- It reduces the time of people to withdraw their cash.
- It make unneccessary to carry cash because everywere online payments are done.

- Due to some network issue transaction are restricted.

Rate this: +11 -1

Sudharsan said: (Jan 27, 2021)  
For now, it's so likely a demerit for us.

1. Cybersecurity will be crucial.
2. Pending transactions will be difficult for both sender and receivers.
3. Even internet available in all the places still many people are not using smartphones. Anyhow it can be card transaction.
4. Banks will give very fewer interest rates.

Rate this: +9 -1

Rama Krishna Battula said: (Jan 19, 2021)  
Hi, This is Rama Krishna Battula.

I would like to express my thoughts on the merits and demerits of the cashless economy.

Merit: Going cashless is simple and easy and all about a transaction between banks.
Demerit: Transaction does online so that there is a chance to theft, fraud and cyber-attack.

Rate this: +11 -3

Mayank said: (Jan 16, 2021)  
A warm welcome to everyone participating in this discussion.

I am Mayank, I would like to put some light on the cashless economy which as eventually come into the trends.

So starting with some positives I would tell you that going cashless has made the process of payment fast and efficient.

It has also reduced the extra efforts made by people for the payments from big to small, from goods to services, from country to states.

Going cashless has made all of them a work of seconds.

But digging under the topic to its roots.

It has become the top most reason of frauds and scams happening in the states, has effected a lot of people who are not aware of these malicious activities and news of thefts.

So, I would conclude by saying that though the people are ready for change in terms of payment and commerce but will be requiring knowledge and basic education for going online for the capital transaction.

Rate this: +19 -5

Vasu said: (Jan 11, 2021)  
Hello my name is Vasu lets come to the topic which is the cashless economy as we know them to love in 21 century without digitalisation is not possible our pm Modi ji started this campaign in 2015 as we know that everything ha it's pros and coms first talk about its pros. It reduce robbery and theft. Now people can book the tickets of aeroplanes and train just in seconds. One can transact money from one place to another place just in a sec but it increases the risk of cybercrime and hacking.

Rate this: +11 -4

Poonam said: (Jan 2, 2021)  
Cashless economy is a requirement of 21st era. Cashless economy means the transaction of money, a bill by online banking or digital payment apps.


1. Cashless economy made transaction transparent do it will minimize corruption.
2. It will save travel time, extra cost.
3. With online payment we can send money from one corner to another corner of the country in few seconds.
4. Now people cannot evade tax because all transaction are recorded.
5. E-ticketing, e-services reduce wasting of time.
6. Cashless economy minimise wasting money on cash printing.


1. Cybercrime theft issue arises.
2. Illiterate people can't understand cashless transaction so there are chances of happening fraud by duplicate payment app or duplicate website.

Rate this: +83 -9

Abhi Chauhan said: (Dec 31, 2020)  
Hello, everyone Jai hind to all of you.

Today, I am going to discuss the merits and demerits of the cashless economy as we all know that there are two faces of every coin so the cashless economy has also two sides. First, I will discuss the good side of the cashless economy. Due to cashless economy, we can save our time because you can pay in a minute by paying, phone pay, other digital apps but in my opinion, India is not ready now for the cashless economy because as we all know that the most of people in India are illiterate so they don't know how to do payments by phone or computers so I think India will be ready for the cashless economy after two or three-decade. Now I will tell you about the bad effect of the cashless economy. There is a lot of risk for cybercrime. As we know that there is not any strict rules in India for cybercrime so it is increasing day by day. So if your account would get hacked then you will lose your money.

Rate this: +20 -9

Vinay Pratap Singh said: (Dec 31, 2020)  
Jai hind to all.

Respect Sir and my dear friends.

Today We gather here to discuss an interesting topic and our topic is Merits and demerits of cashless economy.


1. Our data and information about the transaction will be safe.
2. Save our time.
3. Reduce corruption.
4. Easiest method to transfer fund one person to another person.
5. No need to go bank and ATM.
6. Rapid growth in online buyers.


1. Chance of hacking.
2. Cyber Threat - As we know that in India there is no strong law against the cyber threat and cybercrimes increasing day by day. As per data 12592 cybercrimes are recorded in 2019.
That's why people hesitate to a cashless transaction.
3. People lost their money in fake transection app because most of them uneducated.

Rate this: +32 -2

Ranjeet Chaudhary said: (Dec 29, 2020)  
I don't think India is ready for a cashless economy. It is on the way of cashless economy. India needs two to three decades to become a cashless economy. Here is the reason for not becoming India into a completely cashless economy. Right now many people of India are illiterate. There is no proper banking connectivity all over India. There is also no proper connectivity of the Internet. Corruption rate in India also very high tremendous effort of the government also failing in this field. Many labourers in India are dependent on cash for their daily expenses and they are illiterate or half-educated. So to tackle all these things India need more time to be cashless.

Rate this: +14 -3

Sudhanshu Kumar said: (Dec 29, 2020)  

My name is Sudhanshu Kumar.

Here I am talking about merit and demerits of cashless economy.


1. Pay and accept money in seconds.
2. Protection from spreading duplicate currency.
3. Protection from theft.
4. Prevent inflation.
5. Safe and secure debit and credit.


1. Chance to cyber theft.
2. Transaction can't be done in lack of network.

Rate this: +16 -2

Jmx said: (Dec 28, 2020)  
Cashless economy means appealing and ideal. But the thing is our government is yet to perfect its the current monetary system.

1) Government should "abolish" all kinds of manhandling of currency. Currency is global dignity of a country.

2) Mishandling, making of fake currency should be heavily investigated and punished properly to an extent it simply stops.

3) Meanwhile Gov should be formulating and working efficiently towards the secure virtual system. It should join hands to the newest generations for this. And take info from cyber culprits who have done related crimes to make sure it doesn't happen.

4) The change should be slow and perfect.

The cashless economy can minimize paper wastage and reduce all sorts of cash-related crimes. But it brings a whole new set of problems in the cyber level where our country is yet to properly believe and invest in. How can a Gov that cannot yet handle ancient monetary issues cope with the newest ones? It's better to take time and start with a bang; not let hackers make use of naivety.

Rate this: +6 -0

Ram said: (Dec 27, 2020)  
Hello everyone,

This is the Ram, today I'm going to speak about merit and demerit of the cashless economy.

We are in the 21st century that is the digital era.

By adopting the cashless system we are so much benefited. Like, pay bills just in few seconds, by ticket quickly and many more.
It's a good initiative by our government.
It also has some drawback for which we have to careful.

Rate this: +7 -1

Tejas T Devakate said: (Dec 24, 2020)  

Merits and Demerits of Cashless Economy.

My scenario for Cashless Economy.

Cashless Economy is a new scenario for money. Cashless economy use to a transaction. The transaction is paid through with or without cash. Means cashless transaction do directly through Banks. This is the merits of cashless Economy.

Rate this: +4 -9

Nishant said: (Dec 23, 2020)  
Cashless economy means we do our transaction by cards and many digital apps like Paytm phone pe and others. By this, we do our transaction safely. It also saves our time because in one click we do our transection. But this is not useful for illiterate people. Many parts of India is not access to internet so that it is a problem for those people who live in these areas. But it is very beneficial for progress in the country.

Rate this: +15 -0

Bipan Kumar said: (Dec 22, 2020)  
Hello friends.

I am Bipan Kumar.

According to my opinion, the cashless economy is a safe method away from robbery and corruption. In it every person can stay happily without any tension to how I am kept a large amount of money from one place to another place. It is possible with the help of digitalization.

With the merits it's having a demerits also in such cases sometimes when we do transactions through ATM our cash didn't recd but from account has deducted the money that time the person has harrassed.

Rate this: +8 -2

Raj Kumar said: (Dec 18, 2020)  
Hello everyone,

My name is Raj. As you know that today topic is the cashless economy. In today's world, every country who is more cashless is less burdened with corruption. In this system, the exchange of money is done digitally so there is every chance of embezzlement and also provides a secure and easy mode of payment. But on the other hand, everyone technology has some weakness and this cost very much because in this system if we don't keep or pay our money by a very secure or insured platform a large amount of money can be looted just by one click. So we also have to keep precautionary measures while using the cashless system.

Rate this: +15 -1

Rajneesh Yadav said: (Dec 16, 2020)  
Hello, friends good morning /evening.

I am Rajneesh Yadav. Thanks for giving me big opportunity to speak on the topic cashless economy.

In my point of view, every topic has two aspects so cashless economy has also one his merits another demerits.


1. Now a days cashless economy plays a very important role in human life.
2. Corruption, Robbery will be reduce by cashless economic system.
3. Cashless economy help us to send money one place to another place easily.


1. Sever issue, internet problem this is the big problem of cashless economy.
2. Now a days cyber crime is also involved in cashless economy that reduce all money in few second from account.
3. We can check high privacy policy which application which provides us cashless election.

Rate this: +29 -7

Abhi96 said: (Dec 16, 2020)  
Hello everyone.

My Name is Abhi and I would like to pay your attention to the topic cashless Economy.

Today we can see that every country engaged.

To improve there economy Where cashless or.

Digital plans. It is important because it reduces black marketing and provides good service. This also helps us to save time and precious money but in other hands, ti is a major problem to implement in a large population like India. The cashless economy always feared to hack and other cybercrime. Ti is a hard nut to crack for an illiterate person to understand it.

Thank you.

Rate this: +14 -3

Deepak said: (Dec 14, 2020)  
Hi all.

Now, l am going to discuss the topic 'CASHLESS ECONOMY'.

1. Cashless Economy is a part of Digitalization.

2. By using this we can save our time which is more precious for all in modern time.

3. The most important advantage is that we can pay anyone by sitting at home without any disturbance in our work.

4. As we can see that in Corona time it helps a lot.

Like we can pay our electricity bills and water bills etc.

It plays an important role in human life in Corona time.

Thank you.

Rate this: +15 -6

A.R.Prusty said: (Dec 12, 2020)  
Hello everyone.

I am Akash.

Cashless Economy comes under the Digital India incentive taken by the Indian government in July 2015.

It is a double-edged sword. I firmly believe it has more pros than cons. I would like to mention a few positives about it:

1. It made transactions more transparent. This will significantly reduce corruption. It will bring down the level of black money accumulated.
2. Transaction has become fast. No more worry to maintain hard cash.
3. It reduces the theft of physical cash.
4. Now it is harder for someone to evade tax as all transaction is being recorded.
5. E-ticketing of railways, cinema halls, aviation service and many more. Prior to cashless Economy people had to stand in a long queue to get their tickets.

Cashless Economy still has many flaws in it like Cyber Fraud, Inconvenience caused during transaction due to internet disruption, etc. The government needs to resolve these issues as soon as possible. It needs to aware Rural people about cashless economy. It should frame stringent laws against cyber fraud.

Rate this: +27 -1

Ritik Parmar said: (Dec 12, 2020)  
As we are here to discuss about the topic cashless economy.

Cashless economy means the transfer of money from one person to another with the help of internet banking. Cashless economy has its own advantages and disadvantages. In India cashless economy becomes popular at the time of demonetization. At that govt of India promotes transaction with the help of internet banking because of due to lack of physical currency. From that time cashless transaction is increasing day by day.

Cashless economy is very beneficial because from this if we want yo transfer money to another person we don't need to go to bank with the help of our smartphone we can easily transfer money. And many other advantages such as robbery also decreases as cashless transactions increasing. Hoarding of black money and corruption also reduces from cashless transactions. Because govt has all the records of money which anyone transfer to other.

Rate this: +10 -1

Rishav said: (Dec 11, 2020)  
In my opinion, the cashless economy is beneficial for India and any other country. We can do transaction just in one click. It saves us time. In the modern age, no one wants hard work but all want smart work. But we know every coin has two faces so it's demerits also exist. It is not useful for illiterate people. By increasing education cashless economy grow. So the government should increase education for a successful cashless economy. In a cashless economy, there is less fear of theft. But sometimes hackers are successful in hacking.

Rate this: +4 -3

Ramesh Pal said: (Dec 7, 2020)  
Hello Everyone.

As we know that we are the youth of modern age and we want more relaxation in our life because we don't want to do hard work. So the cashless economy is very helpful in our daily life. Many people of India are using this facility which is saving money and reducing time. But everything has two sides one is good and another is bad. Nowadays anybody can steal the data and information easily so this is the minus point of this technology. And another problem is many people in our country do not read and write so they do not know about it and poverty is also the major problem of this system they cannot buy expensive mobile phones.

Thank you.

Rate this: +7 -4

Anonymous said: (Dec 2, 2020)  
Today we are discussing cashless money.


In the 21st century, the cashless payment in India is growing rapidly and also benefits to our overall development of a country because of cashless payment we can easily transfer money whenever require and also can get money from anyone no need to waste our energy and time but as we know every coin or topic has 2 sides one is positive and the negative and cashless payment also have negative because of cashless payment we don't need to stay in the queue for an hour and hour's it saves our time, energy, and also money from the thief.


As we know nowadays the digital crime has bosted various scams schemes running all over the internet and also our data is not safe anyone can hack our data because of our small mistake and also 50-60% of the population of India belongs from the village who don't have good internet connectivity how they can do cashless payment as the cashless payment increase the digital crime also increase if we don't keep alert ourselves.

Thank you.

Rate this: +27 -2

Raushan said: (Nov 29, 2020)  
As we know the cashless economy is a symbol of a developed as well as developing countries. But it has some positive and Negative points.

Cashless economy reducess may problem such as fear of looting money while carring, reduce tax froude. It is very easy, simple and fast way of transfer money from one another. As more and more people pay cashless it boost economy, reduce black money.

But it have some limitations like people still fear of using it due fraud. Some People not know how to use it or even know then they still not use due to economy conditions. Cashless transaction is still not use by every business man.

Rate this: +21 -3

Hitesh Yadav said: (Nov 29, 2020)  
Hi everyone.

We all are here to discuss the cashless economy.

We all know that the online transactions occur through net banking, phone pay, google pay e-wallets etc is known as the cashless economy.

Every technology has two aspects good or worse its totally depends on our thinking.

Good aspects of the cashless economy.

Firstly it eliminates the headache of putting money in the pocket every time. Most of the terrorist's attacks are also reduced due to a cashless economy. The problem of stealing or securing money is also sorted out.

Every department becomes corruption less or bribeless. We get easily accountability of each and every transaction, funds etc.

-Worse aspects of cashless economy.

For a country like India, there is the vast problem of connectivity and accessibility in rural area where there is no network available and also most of rural peoples are not able to operate the smartphones or in case if they will be learned at some extent the 2nd problem in front of is that they easily robbed by hackers and fraud's.

And in the online transaction, if we do by mistake a wrong transaction then we have no option to repent.

But in overall, my point of view cashless economy makes life more easy and fast.

We hope Our government must focus on education because without education nothing is good !

Rate this: +17 -3

Ashish Kumar said: (Nov 25, 2020)  
Hello Friends.

Today we have to go discuss the merits and demerits of cashless economy. Friends as we know that there are lots of advantages or disadvantages of cashless. Firstly we know that in the cashless economy we don't need to carry cash so this is a big advantage for us. If we carry cash we are afraid to carry physical cash. But in the cashless economy, we need not to worry about physical cash we can transact money through any online payment mode like phone pe, Gpay or paytm etc. But there is a big problem in the cashless economy is that we have to face network issue, failed transaction issue as well as If we do transaction to a wrong person we unable to take our money. So, we can say easily that if we use cashless economy with some precautions we surely find it a very good model of payment and in the physical cash economy, this is a good payment mode for the rural area because we know our economic system in a rural area there is not good network facilities. So here we know about a few merits and demerits of cashless economy.

Rate this: +20 -1

Harsh Thakur said: (Nov 24, 2020)  
Hello everyone.

Today our topic is merits and demerits of cashless economy. As we know every coin has two aspects positive as well as negative aspect. But point is that which one is more. So here, in my opinion, positive aspects are more than a negative one. A want to clarify some of them. Cashless economy is safe as there is no fear of fake currency. And no fear of stealing. We can any payment in one click and in no time. And nowadays it is ideal because we are facing a big problem of Coronavirus which is contagious so we should also promote cashless transaction. And by cashless economy we can save papers and by Saving paper we can save trees and our environment. So, it is safe and it is good. Thanks to all.

Rate this: +29 -8

Akshay Shukla said: (Nov 22, 2020)  
Everything has merits and demerits depends on you what way you are looking if talk about the cashless economy it has been boon in pandemic made my life easy there are several transactions you can within seconds with help of an application like Google or phone you don't need to stand in the line of the bank no need to have huge cash in your bag or pocket so it is reducing crime and corruption if I talk about demerits issue of cyber crime hacker may get benefit so for avoiding this problem should be more privacy and policy there are many people are not aware not well educated so they may face the problem.

Rate this: +18 -1

Rahulojha said: (Nov 20, 2020)  
Cashless economy means there is no physical case, payment and transaction made through credit card and debit card, mobile banking and internet banking. After launching the program digital India, the govt of India aim to drive people into the caseless economy. This mission boost by announcing the demonization. It has both merit and demerits.


Cashless economy reduces dealing the fake and fraud money it also reduces the money getting stolen and lost. It provides us with every detail of our transaction that helps us to keep records and analyze one's expense. Many builders, businesses man and trader used the physical cash to avoid service tax but the implementation of the caseless economy they can't do that.


India is a country where 60 per cent belongs to a rural area and more than half, doesn't have a mobile phone so it is difficult to spread it. Another reason is illiteracy where people do not aware of the use of technology. Hacking and tracking is a big hurdle for the caseless economy.

Rate this: +67 -3

Kanak Sharma said: (Nov 18, 2020)  
According to my perception- cashless economy is good and gradually it becomes part of our nation.

But at present we can't emphasize it to all because lot of people in northen part of India is illitrate they are not able to operate new technology system. They all are face lot of problem in it. But every coin has two face - second one show optimistic part of it by this system people will take a little step to move ahead in technology.

Thank you all.

Rate this: +9 -8

Abhishek said: (Nov 18, 2020)  
Hello everyone myself Abhishek Yadav from Bangalore district of Karnataka.

As per cashless economy is concerned I think that it will be beneficial for our country.

As we know that there's a lot of work like paying bills to government and many more can be done online as we also know that our population is growing day by day so the government also need to increase there offices workers rather than that if it goes online we will be able to do stress fewer works.

As per demerits is concerned nowadays due to unemployment hacking and frauds has gone on another level which Ultimately does the loss of people I think the government should launch some skims for knowing properly use of technology.

That's all my opinion.

Have a nice day thanks.

Rate this: +10 -3

Sunny Kumar said: (Nov 15, 2020)  
In my point of view, cashless economy is very beneficial for our country. Because the number of tex payer in our country is very low so with the help of it we can improve our economy and we can also stop corruption which is in the form of black money. Our government can save the money which waste on the printing of cash. But it has its demerit also cyber crime cases are increasing rapidly. And it is not suitable for every person.

Rate this: +29 -1

Ajay said: (Nov 12, 2020)  
Hello everyone.

Today we are discussing the cashless economy. The cashless economy has its economic impact on the society.

Due to the cashless, it is now easier transaction through your bank or e- wallet. Because of this, we buy anything online from various platforms without going anywhere. Cashless economic also gives boost our to increase employment opportunity in this sector. Due to cashless banks to able to manage money multiplayer in the economy.

Apart from that it also has the disadvantage of the cashless economy as rising this sector no of cases of fraud is rising. This needs to be addressed so that we insure the cashless economy remains safe.

Rate this: +8 -0

Rahul Kumar said: (Nov 12, 2020)  
Cashless Economy is Good for the new generation but in this generation, it's not good for everywhere the cause of not all of the people know about it. Like a village in any other places where education level is not good.

Rate this: +7 -0

Sanjeet said: (Nov 12, 2020)  
Hi everyone.

I am Sanjeet I belong to Alwar(Rajasthan)

Today our topic the cashless economy
Let's discuss it.
Every coin have two sides as the cashless economy has two sides
First, we discuss it advantages

Cashless economy is very helpful for us we save them time and energy by this. This economy is provided us with many facilities.
We can online payment easily with sitting one place there is no risks.
We can pay the electricity bill, water bill and other bills.
We can pay online payment it's saved our time and time is very important for us.

The cashless economy has some disadvantages with have advantages.
Cashless economy is not successful in the rural area or network problems areas.
This technology is not used by illiterate persons.
Today the thieves hack our bank account and steal the money so this technique is not profitable Completely.

Rate this: +10 -3

Vipin said: (Nov 11, 2020)  
Good morning friends, My name is Vipin Saroj.

I live at Pratapgarh in Uttar Pradesh. Let me start the discussion on the given topic MERIT AND DEMERIT OF CASHLESS ECONOMY. The cashless economy has more benefit. Like to protect corruption. With cashless, we can easily pay all the payment like bill, shopping and other things. But the cashless economy also has the demerit. The cyberattack is very dangerous for cashless. And it is not comfortable for everyone because some illiterate person does not understand the cashless economy.

Rate this: +49 -3

Dimple Gautam said: (Nov 11, 2020)  
Hello, all of you, today we are here to discuss merits and demerits of the cashless economy so let's break the ice cashless economy is best there is no doubt about it but it has many cons. First thing should be discussed is hacking this word create an image of threat in our mind everybody wants to know how much his transaction is secure so that is I think is big cons about cashless economy know I want to know yours view if you have any.

Rate this: +17 -4

Jitendra Kumar said: (Nov 11, 2020)  
Hello everyone,

I want to give my opinion on the cashless economic is merits and demerits.

First of all, I am talking about that it economic has very important and time-consuming techniques for doing work like as (bill payment, payment-related all other shops, money transfer). All important work-related this economic done from home not go anywhere and without waste your money and time.

Most of us use Google pay, Phone pay, Amazon pay and any other applications for do better work. That's all about merits.

And some demerits are cybercrime, bank account hacked.

Thank you everyone.

Rate this: +15 -4

Anurag Yadav said: (Nov 9, 2020)  
According to my opinion, today we discuss the merit and demerit cashless economy as we know everything has pros and cons first I discuss the merit of the cashless economy today we can complete all our work in a very short period like bank work as money transaction and the transfer we can save a lot of time to use this method. Its demerit 1when we work in important things and we face server problem and sometimes hijackers hacked my bank account and with a drawl, it's money we use.

Rate this: +18 -9

Rohit Lohar said: (Nov 8, 2020)  
Good morning everyone.

Today we have a great day to discuss on cashless economy. In my opinion, cashless is the best way to save time, energy and tree.

But as we know that everything has its own pros and cons. In that way, cashless is good in some case but it is also bad in some case.

First of all, I will talk about its pros :

It is very important for reducing the crime rate, corruption and saving time. Because we spend many times in queue for bank transactions.

If I talk about its cons:

Many trees cut down for producing paper for note. And it is very hazarded for us. In the rural area, there is a lot of network problem. Rustic people are not well acquainted with the digital system and its uses.

Rate this: +41 -2

Aishwarya.B said: (Oct 28, 2020)  

Everyone today's topic is about the cashless economy it means carrying out business and.

Economic activities without using of money physical or in ". It is less flow cash on people ".

Every topic have its own pros and cons cashless economy also has some advantages and disadvantages they are:


*By using advanced technology the money can be transferred for anybody and anywhere.
*The best apps like phone pay, Google pay, Bharath pay etc.
*It saves precious time and fewer efforts to do work.
*It is best for old people because they need not stand online for a long time.
*If there is no money their will no robbery.
*The bills can be easily paid and we will get cashback also.


*Using cashless economy is dangerous because their will be harmful for uneducated people.
*There will be hackers they can hack our money.
*There is no evidence for bill transaction it will become difficult for payment of tax.
*Old people and village people will become foolish because of fraud people.

At last, I can say that we need a cashless economy to overcome from its cons is to educate about new technology to everyone is only the solution.

Thank you.

Rate this: +47 -11

Mahesh said: (Oct 21, 2020)  
Following are the Merits and Demerits associated with a Cashless Economy:

1) It saves our time for paying off the various bills through one click.
2) It reduces the risk of robbing because you won't carry physical cash.

1) Imagine if you are travelling with your friends in hilly areas or near the village area and all of them having money in their Digital wallet only and there is a possibility of the network issue in that area because of this you won't be able to transfer money.

Rate this: +34 -4

Angel said: (Oct 16, 2020)  
It's useful for time management. We can pay any bills or payments within a second. And also we reduce the robbering and it's also the solution of money losing problem.

Rate this: +12 -5

Sarika Mishra said: (Oct 15, 2020)  
Cashless economy we already know this renowned concept in earlier year when pm of India announced demonestisation in that time we step ahead with cashless transaction and with time phase we are habitual to it now wherever we go we prefer highly on cashless transaction whether to pay for shopping, electricity bill, tution fee etc which are easy to use and time saving. This new concept is best known for tracking illegal money which was not possible earlier days with lots of benefits of cashless economy there are lots of demerits like with advent of cashless transaction there is also increase in cyber crimes at peak level.

Rate this: +7 -1

Anu Mohanan said: (Oct 12, 2020)  
N 8th November 2016, our honourable prime minister of India, Shri Narendra Modi made an announcement that the 500 and 1000 rupee notes would be banned. With this announcement, 86% of currency notes in India were just mere pieces of paper. The main objective was to curb black money and eliminate the circulation of fake currency in the Indian economy. India is a cash-centric economy where less than 5% of all transactions happen by money. But with demonetization there resulted in a currency crunch and many people started making online payments. Thus Demonetization took an unprecedented turn of trying to make India move towards a cashless economy. Cashless transaction means using debit, credit cards, internet banking, e-wallets for making payments instead of paying in hard cash. The cashless economy has its own pros and cons.

Merits of cashless economy:

People to boost their customer base even in far of geographic locations and hence will result in enhanced business.

The real estate prices will come down because of the curb on black money, as most of the black money is invested in Real estates.

Electronic payments will improve transparency and accountability. Most of the cashless societies are corrupt-free as all the transactions are being traced, are visible and are transparent.

Making online payments are handy and it will lead to slim wallets as people need not carry cash.

Majority of election funding is done through Black money. Cashless transactions will make it impossible for political parties to spend thousands of crores of unaccounted money on elections. Buying votes by giving cash will also come to an end. True democracy will come into the picture.

Amount of tax collected will also increase, and it can be spent for the betterment of poor and underprivileged people.

Generation of counterfeit currency will be reduced and hence terrorism can be prevented.

It will reduce pickpocketing and robbery of cash in crowded locations.

Through online payment, one can view the history of their expenses and plan their budget in a smart way.

Printing costs of notes and maintenance itself is accounting to 27 billion; this can be removed by electronic payments as there would be no need of paper currency.

De-merits of Cashless economy:.

Many of the rural people and even some urbanites still do not have a functional bank account in order to make online payments.

A majority of India's population is in rural locations, and there are no proper internet facilities available to make online payments.

People in rural areas are not educated about the digital mode of payments.

There are still some places which take cash and do not accept cards. Making a purchase at such locations with card becomes difficult. Small retailers in India still deal only in cash as they cannot afford to invest in digital infrastructure.

Cash is not under your control, you will try to spend excessively.

If you lose your debit/credit card, it takes some time to get a new one.

Hacking and cyber theft are challenging problems which can be caused by online transactions. Cyber Security measures have to be brought in place to prevent money from going into wrong hands.

Even in big cities, sometimes online transactions cannot be made because of poor internet facilities.

In a country like India where cash is more pervasive, it requires some time for India to take a transition towards Cashless economy. Meanwhile, the government of India has to address many challenges to meet the objectives of the cashless economy. The government has to provide internet facilities and financial literacy to all its people. While a cashless economy is still not here, the move towards less cash economy is on the move.

Rate this: +45 -11

Akash said: (Oct 7, 2020)  
Hello everyone,

This helps to curb corruption and the flow of black money which results in an increase of economic growth.

Rate this: +11 -4

Sonu said: (Oct 6, 2020)  
I think merits of cashless economy is that we don't have to keep cash with us which will reduce chances of robbery, we can do transaction easily with a proper record of the payment, it will help to reduce corruption, if we have to transfer money to other countries then it is also easy, because of cashless economy people have to open a bank account which will be beneficial for them.

The demerits of cashless economy is chances are there that bank account can be hacked which is risky, and some people might not understand how to use the online money transfer.

Rate this: +9 -4

Ajit Inaniyan said: (Sep 22, 2020)  
Hello everyone,

The Cashless economy means an economy or market without cash or cash flow in the market. And use some alternative methods for transaction of money. So it means to use an online platform like a Paytm, phonepe and google pay etc. To transaction of money. It have both pros and cons.

The cashless economy provides us more viable and flexible system of money transaction. Now we don't need to stand in long lines in banks, so it saves both time and energy of a person. By using online methods all the things can be done by using mobile, so now we don't need to carry cash with us always. Now just by one click, we can complete all our essential task at any palace. It also decreases the corruption in our country, because now any many government schemes, people are getting their money directly in their account, rather than to take less money from middle people in the system. Digital platform make peoples life more flexible and easier.

Every good thing has some default, so here are also some issue to implement this scheme in our country where most of the people live in rural areas. And people are not aware of the digital or online transaction. We need to aware those people about frauds making by some unsocial people. And there is also the chance of hacking in the online system. So we need to ensure our security system more robust and viable to use these online platforms.

So in the final, I would like to say that it is good to adopt cashless economy for our country, so that we can complete our all task without any difficulty and with save of time and energy. What we need is just some efforts to aware people about the cashless economy and governments effort towards the security of its citizen's account.

Thank you.

Rate this: +53 -4

Anand Kumar said: (Sep 17, 2020)  
Every situation has two sides Merits & Demerits. First of all, I want to say about Merits.

That is if we are handling cashless money means we can more safe from any kind of Roberry/Save time.

But sometime that will be a problem for us just like suppose we are paying money to others by using any other application/internet banking so at that time some technical issue it can be stopped. Just down of bank server. So at that time you unable to pay to others.

So, in my point of view, in this topic here some demerits are also there.

Rate this: +21 -13

Poonam Lega said: (Sep 12, 2020)  
Hello everyone.

So here I got an opportunity to give my points regarding the cashless economy,

I would like to add merits to the topic as this will help the country:

The cashless economy will bring out the fear of theft and dangerous incident to life eg. Robarrey etc.

*Clear and easy payments with the benefits of cashback and other coupons.
*Proper records of payments can be possible.
*Chances of corruption get reduced.
*Distance payment can be done easily.
*No harm to currency,
*Fast way of payment,
*Trustable except in case of hacking or server error.

Rate this: +32 -7

Himanshu said: (Sep 11, 2020)  
Hello friends.

I am Himanshu.

As this topic merit and demerit of the cashless economy.

In my point of view, Cashless economy is a better option for the citizens by cashless economy we can use our 100 per cent of cash of the account.

As well as we don't have a tension of stealing and losing of money.

In this pandemic time, we can use UPI and avoid touching.

We don't' have to need the carrying of the money by the cashless economy.

And we can pay easily they gave us many kind of profit.

Rate this: +15 -2

Surekha said: (Sep 9, 2020)  
I think cashless economy is great.

We don't have search of changes. We don't have cut down trees. Transaction can be done very easily and accurately.

Rate this: +11 -4

Adarsh said: (Sep 9, 2020)  
Hello everyone,

Today's topic is very much interesting and relevant to the economy of India. A cashless economy means we are doing a transaction of money with the help of the internet or different type of platforms. As we all know that every coin has 2 sides, so a cashless economy also has some merits and demerits accordingly. So, I am going to talk about both things.


1) With the help of a cashless economy, we have no need to carry money in our pockets. Because sometimes carry a big amount of money can be harmful to us.

2) A cashless economy gives you a facility of transparent and reliable, payment of hotel bills, restaurant bills, etc.

3) You have no need to go in the long queue of banks, with the help of Paytm, google pay, phone pay you can do any type of transaction of money which is a very easy and helpful thing.

4) "Time is the most prestigious thing in everyone's life' so a cashless economy saves our time and energy.

5) Our honourable PM Mr. Modi always exclaimed on Digitalization and cashless economy because by this we can stop the black money and corrupted people who have lots of black money in their accounts.


1) Cashless is a good technique for us to save time, energy, and efforts, but on the other side India right now is a list of developing countries, a lot of people in India don't have a smartphone, the best internet facility even electricity also. So they can believe in his technology.

2) With the development in technology simultaneously no. Of hackers and thieves also increases day by day, they can hack your bank account in a single second if you are not aware of the precautions.

3) After the 73 years of freedom in India, Village citizens believe only in cash because they aren't aware of the cashless economy. They have no bank account, So it is the duty of govt that they have to arrange campaigns in the remote and backward areas of India.

So, although there are lots of merits and demerits of the cashless economy, eventually I strongly believe in a cashless economy because by this I am utilizing my save time in different activities.

Thank you!

Rate this: +66 -2

Monika Moo said: (Sep 7, 2020)  
Nowadays everyone is going for online payments, even a small grocery shop has services, by which customer can pay them online which have many benefits but one important benefit is that people don't have to carry cash with them. And also there are many more merits of cashless payments like you get extra coupons or cash backs when you do a payment online. But again everything has its merits and demerits, the biggest demerit is the network availability/internet connection, your payment can get stuck and sometimes withdraw has been done from your account but the amount does not reach the other person account. Which actually makes us more worried about it. Second important thing is that online payments are not for larger transactions, there's a fixed limit for your daily transactions. But I personally do prefer cashless payments, which makes me less worried about my cash as I don't have to carry much with me. And sometimes cash backs make us happy, right?

Rate this: +7 -1

Aashlesha said: (Sep 5, 2020)  
Well, there are merits as well as Demerits to every change which is brought about.

An interesting and possible "merit" here is that the "demerits" of Cashless economy, which are low-quality internet and electricity and less awareness among the people, IF attempted to rectify, can fast forward the development of this country. People living in rural areas will be forced out of their nutshells and seeking good education and facilities will become more important for them. This could lead the government to prioritise their needs, collaterally igniting sparks of innovation and creativity in a lot of individuals, thereby plummeting the overall potential of this country to extremely high levels. This innovation can take a different and greater form even after these issues have been sorted.

However, there are some environmental concerns regarding radio waves and their impact on nature. Some studies have stated that an out of control presence of radio waves can affect human life and make them highly susceptible to diseases like cancer.

A simultaneous preparation to control this situation and not let it get out of hand could take not just this country, but the whole mankind to an environment-friendly, at the same time technologically advanced, sustenance.

Rate this: +10 -2

Anushka Lohia said: (Sep 1, 2020)  
According to my point of view, it is safe and secure for all transactions. But as every coin have two sides, so most of the rural people were not having more awareness about the cashless economy so the government should take a step to give some awareness.

Good evening everyone.

Today we are going to discuss on the topic "cashless economy" which is a very fascinating topic which we have to discuss upon.

So Let's start.

Cashless economy means where the economy is digitalized. It is especially coined by our prime minister ahead with its plan to Demonetize the currency note of rupee 500 and 1000.

As we all know every initiative have it's own pons and cons so as the cashless economy has.

Now, I am discussing the merits of it.

1) Now don't have to stand in queue for a long time in banks for small transactions.
2) Now we don't have to walk with a lot of money to purchase something.
3) You can also pay your electricity bill or water bill or any bill through online you do not need to go anywhere.
4) It also helps on our GDP. Which is more important?
5) Black money is totally obsolete because no involvement of the third person is there.

Now comes for demerits.

1) Most of the small cities and villages oblivion of the country.
2) remote areas don't have proper knowledge on how to handle online transactions.
3) Most of the rural areas don't access the internet because of network problems.
4) Most of the people worried about security for cashing transactions.
5) Refunding the money also takes much time.

From my point of view, the cashless economy has both merits and demerit. But I am with merits because they are in the majority and also very helpful. Because it saves time. And time is so important nowadays.


Rate this: +17 -1

Deeksha Sharma said: (Aug 27, 2020)  
Cashless economy is the major and important topic in today's era. As it is really beneficial for all of us to discuss it.

It has many merits and demerits.

- As during the pandemic time, it really helpful as the exchange of currency notes can also increase the risk of disease transfer.

- Cashless also helps the easy transfer of money from one place to another.

It has lots of merits but has demerits also.

As it requires proper knowledge of using technology, as it is difficult for poor or illiterate people to use. Even in the remote areas, it is difficult to use due to improper internet connection and also leads to an increase in digital crime rate.

Rate this: +13 -0

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