Merits and Demerits of Cashless Economy
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Discussion:
434 comments Page 39 of 44.
Sudharsan said:
5 years ago
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.
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.
(9)
Murali prasath said:
6 years ago
In my point of View, There is a Merit and demerit in cashless economy Nowadays Some places are available Online payments methods.
Demerits In cashless economy -There is No safety while Paying Money Still Some places using Direct payment. it's Not safety For Our Money so everyone should Use Online payment.
That's all.
Demerits In cashless economy -There is No safety while Paying Money Still Some places using Direct payment. it's Not safety For Our Money so everyone should Use Online payment.
That's all.
(9)
Ujjawal raj said:
6 years ago
India is not totally ready to be cashless.
There are numbers of people in India who are uneducated and some of them only know how to operate a smartphone but when they would do online transactions, they can be a victim of cybercrime.
India shouldn't be cashless before being totally educated and aware of such crimes.
There are numbers of people in India who are uneducated and some of them only know how to operate a smartphone but when they would do online transactions, they can be a victim of cybercrime.
India shouldn't be cashless before being totally educated and aware of such crimes.
(16)
Kaushik said:
5 years ago
Merit :
Cashless economy is very useful during this lockdown situation.
It's very help full to avoid cobid 19.
Low corruption.
Low risk to thief.
Demerits :
It's required internet connection so it's not possible in all area and village.
High risk by hacking our data.
Required high security by banking application.
Cashless economy is very useful during this lockdown situation.
It's very help full to avoid cobid 19.
Low corruption.
Low risk to thief.
Demerits :
It's required internet connection so it's not possible in all area and village.
High risk by hacking our data.
Required high security by banking application.
(13)
Tejas T Devakate said:
5 years ago
Hi,
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.
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.
(4)
Shelly Agarwal said:
6 years ago
Hey everyone, in my opinion cashless is a great initiative when we see easy way to pay out bills, to make payments for anything, to order anything online become so easy and quick but there are people on the other side who don't know online payment system because of lack of education and facilities to them.
(6)
Shweta said:
6 years ago
The cashless economy has merit but the number of demerits, for example, we have some transaction app like Google pay, pytm and etc this app is very much security means frauds people hacking this account by Google or any other by any way or if we have some net banking technology there is also some risk.
(4)
Karthik said:
7 years ago
Merits of the cashless economy:
1. Time can be saved.
2. Every paise can be counted.
3. No transferring of cash from one bank to another.
Demerits of the cashless economy:
1. It cannot be handled by uneducated people.
2. Hacking of accounts may lead to loss of money.
3. Smartphones are required.
1. Time can be saved.
2. Every paise can be counted.
3. No transferring of cash from one bank to another.
Demerits of the cashless economy:
1. It cannot be handled by uneducated people.
2. Hacking of accounts may lead to loss of money.
3. Smartphones are required.
(19)
Rama krishna battula said:
5 years ago
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.
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.
(11)
Anjali said:
7 years ago
I would like to add my point that Cashless economy means we can say digital economy which is trackable. It helped us to reduce one of the most dangerous disease "corruption".
It reduces the use of paper, it promotes us to make a payment by digital system which is much more comfortable and easy.
It reduces the use of paper, it promotes us to make a payment by digital system which is much more comfortable and easy.
(12)
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