Categories: Business & Finance

The cashless world of Plastic money

Cashless is the new Mantra of modern world. At least we in India feel that cashless is going to be an imagined place or state of things in which everything is perfect. I guess even the western world has not yet reached to a stage where they can say that they are in living cashless world or what is better known as plastic money.

I know our government is willing to introduce as many schemes with no cash transactions. Even the big businessmen and banks are also looking for online business to grow. But in my views it’s an impractical scheme for social improvement in our country where most small business has no such facility.

I think it was almost 70 years from now when the first credit card came in the existence and the technique has since improved besides we have so many other ways to transfer money from one account to another at the flick of a finger even without having to use a card but it is the same old story, we the Indians are not yet ready to trust these online methods yet.

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However, whatever we Indians feel or think about these electronic transfers almost all of us have a debit card as the banks give it as soon as you open an account in a bank. Most of us have a credit card whether we use it or not as our deep rooted beliefs forbid us or maybe we do not trust or know the system of how to take the best advantage of a credit card.

I agree that cashless is an alluring word that promises a lot for making the world a better place to live in with lesser black money but we in India still feel that all these methods are not safe and it is not only me that thinks in these terms but even the younger generation in India is not yet very confident. They want to use cash which is considered safe and one feels more assured. How about you?

https://pixabay.com/en/ec-cash-paymentsatm-money-cashless-1750490/




  • suny

    View Comments

    • I am good with cashless money , like using the debit card. At least with the debit card you are still cautious in using it, because if it doesn't have a balance in there, you cannot use it.

      But not with a credit card, wherein you are given a purchasing power so big, that if you keep using it, you will be in deep water. It will have a big interest and would keep getting interest when you pay in installment or the lite scheme.

      Nowadays, here in the Philippines, people are already so much into debt because of the credit cards. Sad, that these people are now being harassed by the credit collectors of being sued for not paying the entire amount including the big interest, once they skip paying the monthly lite payment.

      Debit card , yes to me .

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