Some people are worried about cashless payments because their spending can be tracked.
I do not share this fear.
We are already using credit card for the major payment. They are being tracked. For anonymity, some places use an innocent name for the purpose of payment.
For example, you do not want your credit card bill to show that you have paid for social escort services, right?
When it comes to small payments using e-wallets, there is little need for anonymity.
Who is interested in your payment for a few dollars at a hawker stall or coffee shop? Anyway, most of these payments do not need to show the detail of the merchant.
Finally, if I have to make a payment that require anonymity, I will use cash or get someone to pay on my behalf. I hardly need to keep such secret.
So, I will find e-wallet or cash payments to be convenient. I do not have to worry about anonymity or privacy. It will help to reduce the time taken by the merchant and the customer.
At the pharmacy, I saw a customer paid the bill in coins. The cashier has to spend some time to count the coins. The payment would be much faster if the customer paid by e-wallet.
I do not share this fear.
We are already using credit card for the major payment. They are being tracked. For anonymity, some places use an innocent name for the purpose of payment.
For example, you do not want your credit card bill to show that you have paid for social escort services, right?
When it comes to small payments using e-wallets, there is little need for anonymity.
Who is interested in your payment for a few dollars at a hawker stall or coffee shop? Anyway, most of these payments do not need to show the detail of the merchant.
Finally, if I have to make a payment that require anonymity, I will use cash or get someone to pay on my behalf. I hardly need to keep such secret.
So, I will find e-wallet or cash payments to be convenient. I do not have to worry about anonymity or privacy. It will help to reduce the time taken by the merchant and the customer.
At the pharmacy, I saw a customer paid the bill in coins. The cashier has to spend some time to count the coins. The payment would be much faster if the customer paid by e-wallet.
Our money in full electronic form will always be in the bank and they will be in full control of our money.Then,they can do monkey things with it.Including charging negative interest rate for all saving/FD account without worrying a run on the bank.
ReplyDeleteToday,there are more paying systems that is more confusing for graduate than using simple cash. Smart nation,my foot.lol.
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