Merits and Demerits of Cashless Economy
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434 comments Page 30 of 44.
Sanjeeda pathan said:
5 years ago
Hi everyone,
Our today's topic is "Merits and Demerits of Cashless Economy" which is very broad term in itself.
So, in my point of view, pros & cons totally depend on us, if we have a better/complete knowledge of cashless economy then there will be no cons right!
Do you think around 50%-60% population which is educated, they use smartphones and they know how to use the internet, all they aware of cybercrime or digital robbery?
Before discussing merits and demerits I think awareness is a must.
Our today's topic is "Merits and Demerits of Cashless Economy" which is very broad term in itself.
So, in my point of view, pros & cons totally depend on us, if we have a better/complete knowledge of cashless economy then there will be no cons right!
Do you think around 50%-60% population which is educated, they use smartphones and they know how to use the internet, all they aware of cybercrime or digital robbery?
Before discussing merits and demerits I think awareness is a must.
(5)
Mahesh said:
5 years ago
Following are the Merits and Demerits associated with a Cashless Economy:
Merits:
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.
Demerits:
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.
Merits:
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.
Demerits:
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.
(35)
Vivek said:
7 years ago
Hi everyone,
A cashless economy is the best option for Making transaction online and get benefits like Cashback.
Merits -.
1) Saves time and reduce work to go the bank and take or give money in a traditional way.
2) For doing an online transaction -there are many payment applications are available and it gives Cashback offer also, so there is a way to save our money, time etc.
Demerit-.
1) If one doesn't have any mobile, internet then he/she doesn't get any benefit of the cashless economy.
A cashless economy is the best option for Making transaction online and get benefits like Cashback.
Merits -.
1) Saves time and reduce work to go the bank and take or give money in a traditional way.
2) For doing an online transaction -there are many payment applications are available and it gives Cashback offer also, so there is a way to save our money, time etc.
Demerit-.
1) If one doesn't have any mobile, internet then he/she doesn't get any benefit of the cashless economy.
(2)
Deepak said:
5 years ago
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.
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.
(17)
Ashok waghmare said:
7 years ago
A cashless economy is one step ahead for India.
Do you think is India really capable of cashless technology. As there are the majority of people live in rural area. There is a big issue in the area there may not single atm or even there is no range for mobile then how they learn to how to transfer money using UPI or buy some goods with paytm. This major demirts for cashless India. And merits are we can get discount by the online transaction, we no need to carry money every time so its safe.
Do you think is India really capable of cashless technology. As there are the majority of people live in rural area. There is a big issue in the area there may not single atm or even there is no range for mobile then how they learn to how to transfer money using UPI or buy some goods with paytm. This major demirts for cashless India. And merits are we can get discount by the online transaction, we no need to carry money every time so its safe.
(7)
Shubham Lawaniya said:
6 years ago
I would like to say fee points only about the cashless system. We know that every system have some merits and demerits also so due to the cashless economy we can save the currency from wear and tear no thefting occurs as well as our money is safe we from other such issues while having no internet service available in your area then you may got trouble with this cashless economy. So if it have 70% positive point then we can not deny that it also have at-least 30% of trouble issues.
That's it.
That's it.
(2)
Vasu said:
5 years ago
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.
(11)
Manas ranjan ojha said:
7 years ago
Hello.
As we all know a good things have both merit and demerit. So, In this case, Digitalisation is very crucial. Because. When. We want to check our balance or transfer money, at that time may be holiday will be there, many people will be in the line. So it's really difficult to overcome from this situation. Hence digitalisation is the only process to overcome from this situation. But also there are some demerits like leakage of data, haking. But in comparing to merits, it is quite less.
As we all know a good things have both merit and demerit. So, In this case, Digitalisation is very crucial. Because. When. We want to check our balance or transfer money, at that time may be holiday will be there, many people will be in the line. So it's really difficult to overcome from this situation. Hence digitalisation is the only process to overcome from this situation. But also there are some demerits like leakage of data, haking. But in comparing to merits, it is quite less.
(5)
Himanshu said:
5 years ago
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.
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.
(15)
Ashish Kumar singh said:
5 years ago
In my opinion, the Cashless Economy is a main economic future of any developing country.
As soon as possible we achieve it we become developed. Many hurdles come in our ways to adopt a cashless economy but good effort makes it possible.
In future cashless economy will become time demand.
Demerit -.
Low technology infrastructures and illiteracy rates discourage us for a cashless economy.
Less Knowledge about the financial aspect is low in society one major demerit of cashless economy.
As soon as possible we achieve it we become developed. Many hurdles come in our ways to adopt a cashless economy but good effort makes it possible.
In future cashless economy will become time demand.
Demerit -.
Low technology infrastructures and illiteracy rates discourage us for a cashless economy.
Less Knowledge about the financial aspect is low in society one major demerit of cashless economy.
(9)
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