Merits and Demerits of Cashless Economy
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Discussion:
434 comments Page 29 of 44.
Pooja said:
6 years ago
Good morning everyone.
The Cashless economy means paperless money. Which is now very common so first talk about its merits.
It's paperless money. And it's easy to carry & use everywhere. It's like your money in card and phone. No one takes it without your permission and its safe and secure also.
If we talk about demerits. Not every person know how to use mobile or cards for payment and especially in rural area. Also in someplace, there is no system for the card and online payment. Where paper money is needed.
The Cashless economy means paperless money. Which is now very common so first talk about its merits.
It's paperless money. And it's easy to carry & use everywhere. It's like your money in card and phone. No one takes it without your permission and its safe and secure also.
If we talk about demerits. Not every person know how to use mobile or cards for payment and especially in rural area. Also in someplace, there is no system for the card and online payment. Where paper money is needed.
(30)
Ambica sahu said:
7 years ago
Without any doubt, the cashless economy is a wonderful concept. It checks the risk of theft of both life and property. Cashless directly or indirectly keeps us burden free. Here the transaction of the bigger amount can be done in a fraction of second but along with that as we know that everything in this world has both merit and demerits so this concept also has the both. The main demerit is that the stealing of important information and data security but although it can be checked by various measures.
Thank you.
Thank you.
(13)
Aditya Zope said:
6 years ago
Hello Friends,
Cashless economy is very useful in day to day life. But as Coin has two faces like wise our topic also has two faces.
Clashless is more benificial, the corruption will avoid by using cashess, It is easy to record on our money.
Few years ago there will be cange in currancy, there will no effect of it on cashless payment.
Demerits are in villages people not have much knowledge of cashless economy. Also due to some issue if our mobile phone is switchoff then it is not possible to pay via cashless.
Cashless economy is very useful in day to day life. But as Coin has two faces like wise our topic also has two faces.
Clashless is more benificial, the corruption will avoid by using cashess, It is easy to record on our money.
Few years ago there will be cange in currancy, there will no effect of it on cashless payment.
Demerits are in villages people not have much knowledge of cashless economy. Also due to some issue if our mobile phone is switchoff then it is not possible to pay via cashless.
(8)
Pavikumar T said:
3 years ago
Merits:.
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.
Demerits:
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.
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.
Demerits:
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.
(23)
Rushi said:
6 years ago
Hello, guys. There are too many merits an demerits of cashless economy in India.
PM, Narendra Modi started digital India it helps lots but something disadvantages are also there, first I discuss the merits. The main advantages of cashless economy is you have to don't take money with you anywhere with you. You can directly transaction with mobile or your card. You can pay the bill for electricity etc are pay directly with your home is your time is save and also free of travels. You can do at your home directly.
PM, Narendra Modi started digital India it helps lots but something disadvantages are also there, first I discuss the merits. The main advantages of cashless economy is you have to don't take money with you anywhere with you. You can directly transaction with mobile or your card. You can pay the bill for electricity etc are pay directly with your home is your time is save and also free of travels. You can do at your home directly.
(6)
Bhawna Verma said:
6 years ago
Hello everyone,
This is Bhawna Verma.
I am in favour of the cashless economy because this is a very easy way to pay the money. The cashless system brings down the cost associated with printing, storing and transportation of cash. A lot of eCommerce website offers huge incentives in terms of discounts, cashback to the customers for making a digital transaction for shopping online. And we can do easily these cashless transactions with high security.
THANK YOU FOR GIVING ME A OPPORTUNITY TO REPRESENT MY VIEW.
This is Bhawna Verma.
I am in favour of the cashless economy because this is a very easy way to pay the money. The cashless system brings down the cost associated with printing, storing and transportation of cash. A lot of eCommerce website offers huge incentives in terms of discounts, cashback to the customers for making a digital transaction for shopping online. And we can do easily these cashless transactions with high security.
THANK YOU FOR GIVING ME A OPPORTUNITY TO REPRESENT MY VIEW.
(65)
Bipan Kumar said:
5 years ago
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.
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.
(8)
Swapnil Dhage said:
3 years ago
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.
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.
(21)
Sayyed Md Qasim Rehan said:
7 years ago
Merit:
Cashless economy is hassle free from the bundle of cash that we usually keeps with us while travelling and concern about losing it or being theft. It is more secure now to keep and transfer wherever we want and to whomsoever we want.
Demerit:
As the use of online transaction is increasing and the world is going digital so the cyber theft is also increasing. If in 10 years from now cyber crime/theft related to this do not increase then it could say that cashless economy is better or the best.
Cashless economy is hassle free from the bundle of cash that we usually keeps with us while travelling and concern about losing it or being theft. It is more secure now to keep and transfer wherever we want and to whomsoever we want.
Demerit:
As the use of online transaction is increasing and the world is going digital so the cyber theft is also increasing. If in 10 years from now cyber crime/theft related to this do not increase then it could say that cashless economy is better or the best.
(6)
Shivani said:
6 years ago
The Cashless economy plays a making and India digital. As every coin pros and cons cashless has also two sides. Cashless economy helps to reduce corruption because of the digital transaction. It also helps in digital India. A cashless economy is more secure than bringing money with ourselves. In an emergency cashless transcation helps a lot. While traveling also it is more benficial because no one can our debit card. Because of that we don't have burden of stealing money. It also helps in GDP growth.
(13)
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