Connect data to accelerate cashless payments

[lixer]

I think it's generally make the transaction more seamless and for a customer it's better. In my country the latest payment system that is pushed by a Single QR Code, so people with different payment processor, like Bank App, Venmo-like Payment and other type can scan the same QR Code to pay for a service. But the one issue that appear is that most of merchant complaint about the fee, it makes them increase the price of their product, and it's not good for them.

For Crypto this phenomena when the government pushing digital payment for people will ease the transition to crypto, transition from a traditional cash to crypto payment will be very hard, but when the merchant familiar with digital payment they will accept crypto more easily.

It's not only about the merchant and the customers deciding which payment method they want to use, and whether they would like to transition from traditional modes to cryptocurrencies such as Bitcoin and others just for convenience, the authorities and the government wouldn't allow it for long if their stance about Bitcoin isn't very positive and there hasn't been any official rules and regulations within the country regarding Bitcoin and cryptocurrencies.

It would obviously be way more convenient for merchants to have cryptocurrencies as payment methods as there will be no third-parties involved that way and they can easily set up their wallets and put up the QR codes to be scanned by users for paying with Bitcoin or cryptocurrencies at the stores.

[Despairo]

I disagree the way you use cashless payments terms because not all cashless payments are centralized. You're talking about government can track every citizens wealth and spending, it's true if they use mobile banking, credit/debit card, CBDC, digital fiat. But, Bitcoin is one of cashless payment and it's decentralized, even though the government and seller know your address, but they're not know your personal information as long as you use non custodial wallet and never link your KYC.

Since you're already know there's a major privacy concern over cashless payments related with fiat, you need to keep use cash and push other people to use cash too.

[icalical]

I think it's generally make the transaction more seamless and for a customer it's better. In my country the latest payment system that is pushed by a Single QR Code, so people with different payment processor, like Bank App, Venmo-like Payment and other type can scan the same QR Code to pay for a service. But the one issue that appear is that most of merchant complaint about the fee, it makes them increase the price of their product, and it's not good for them.

For Crypto this phenomena when the government pushing digital payment for people will ease the transition to crypto, transition from a traditional cash to crypto payment will be very hard, but when the merchant familiar with digital payment they will accept crypto more easily.

It's not only about the merchant and the customers deciding which payment method they want to use, and whether they would like to transition from traditional modes to cryptocurrencies such as Bitcoin and others just for convenience, the authorities and the government wouldn't allow it for long if their stance about Bitcoin isn't very positive and there hasn't been any official rules and regulations within the country regarding Bitcoin and cryptocurrencies.

It would obviously be way more convenient for merchants to have cryptocurrencies as payment methods as there will be no third-parties involved that way and they can easily set up their wallets and put up the QR codes to be scanned by users for paying with Bitcoin or cryptocurrencies at the stores.

Yes, I agree that cryptocurrency as mainstream payment system is still a long shot, but I still hope the day will come and I can still witness it. Looking at how some countries made their own CBDC, made me think crypto payment goes mainstream is not impossible.

I myself mainly accept crypto as payment for my service (mostly from international client), tho I still need to exchange it into fiat for paying bills and fulfilling daily needs.

[Unbunplease]

I disagree the way you use cashless payments terms because not all cashless payments are centralized. You're talking about government can track every citizens wealth and spending, it's true if they use mobile banking, credit/debit card, CBDC, digital fiat. But, Bitcoin is one of cashless payment and it's decentralized, even though the government and seller know your address, but they're not know your personal information as long as you use non custodial wallet and never link your KYC.

Since you're already know there's a major privacy concern over cashless payments related with fiat, you need to keep use cash and push other people to use cash too.

The problem with using cryptocurrencies is the end point. When you exchange bitcoin for fiat money, all your transactions can be tracked. There's also IP - even IP spoofing doesn't always help. Cash is more anonymous - but there is a problem with transferring it. Also, fiat money is restricted to the country in which it is issued.

[Husires]

Cashless payment has become popular due to inflation and not due to factors such as the outbreak of disease around the world. These applications enable you to spend, buy, sell and transfer millions of dollars with the click of a button. You do not need to have an armored car to transport the money or be worried about where to put that money. It is your phone and remember the password, so the adoption of these services in poor and middle-income countries is increasing rapidly due to inflation.
The millennial generation has a phone, and almost most of the world's population has smart phones. All of these things have become encouraging banks to invest in banking services, but cash is still accepted in most countries of the world.

[justdimin]

I disagree the way you use cashless payments terms because not all cashless payments are centralized. You're talking about government can track every citizens wealth and spending, it's true if they use mobile banking, credit/debit card, CBDC, digital fiat. But, Bitcoin is one of cashless payment and it's decentralized, even though the government and seller know your address, but they're not know your personal information as long as you use non custodial wallet and never link your KYC.

The address you mean is a wallet address right? If so then yeah but I think they can follow its link if they check in the block explorer and see other details there but if you want more privacy, a crypto mixer might help you. If we are this conscious/strict then it would be better to not support cash as well because it is still owned by the governments.

This is the nature of the inevitable development of any form of technology that we see today. The financial system has evolved from barter to metal money, then gold, then paper money, and now we must move at some point to online payment or Cashless payments.

This is the nature of the humans. They can't be contented but they keeps on innovating. Not all things are subject to evolve though. Cashless payments have their advantage but they also have their own disadvantages. This is why we must still need a cash. Data's on the other hand must be stored in a very secure place that no hackers can reach because they are very sensitive.

[marcous]

Cashless payment has become so popular and is gradually becoming a habit of many consumers, like last weekend I went to a market in a rural area when I saw that there were very few ATMs around, but surprisingly, the sellers there accept online payments, and the real amount is only about $2 for some fruits. I'm impressed with them because it's still a poor area and payments are mostly cash, but the way they're approaching the changes in the world is still unrestricted.

In recent years, especially after the outbreak of the disease worldwide, the shift of people to payment via Internet channels or mobile phones has increased both the number and value of transactions. In the digital age, data can be used to understand and capture customer behavior and consumption trends, helping banks and businesses identify new opportunities and make the right decisions. and improve operational efficiency. Regarding the role of data in the operation of the banking industry, connecting data will help banks gain insights into customer behavior, helping to cross-sell products. In addition, the full data connection contributes to preventing fraudulent acts, enhancing information security.

Although this is a rather small issue in terms of personal experience, it is undeniable that it is the direction of future development in the new era, what do you think about this issue? Although I know that not everywhere has enough conditions to be exposed to changes in technology, finance, new knowledge, ... but what I am paying attention to is that it is more convenient for life. In life, there are problems that will come to universalize it but over time people do think we will use less cash.

Little by little, the world is changing. Technological developments have indeed had an extraordinary impact in various fields, especially in the transaction process. it would also be disastrous when someone took the opportunity to cheat. Various kinds of fraud motives were carried out by taking advantage of opportunities and taking advantage of other people.

There have been many cases of misuse of customer data, for example, I hope this can make us all aware to always be careful in maintaining the confidentiality of passwords and protecting personal data. I think this discussion is very educational for all of us.

[Smartvirus]

This is happening mainly because the fees paid by entrepreneurs and the self-employed have been considerably reduced. Twenty years ago it was impractical to accept card payments for $2 payments. Besides, nowadays it is more convenient because we carry the card in our cell phone.

Carry debit cards on your device, that's something I was particularly impressed about upon discovery although, I've been very skeptical in using the innovation, having all my details spread out even though, it's just within the mobile banking app.
Still, it cuts across the risk of losing your cards as per misplacing it and to those who might sort you for credit/debit card scams with pos machines and even having to grab it off you. Even forgetfulness don't get to be a hindrance to getting your transactions done.

Still, cashless policy remains a growing part of our finance system and while mayight sort safety in abstinence, its gaining gradual penetration into the means by which people pay for goods and services and would in turn, reduce what pull be spent in minting notes.

[edy_58]

Changes will continue to happen and now it is used to using a debit or cash card to make a lot of payments, in my place also the usual thing to buy a packet of cigarettes worth around $ 2 using a cash card or online purchase with a cash system and pay with a debit card even if only only only about $ 3. Surely this is a change that always occurs.

In the current era of technological development, of course, it will make it very easy for us to make purchases and sales, as you said, even in an amount of around $ 2, you can make online payments, of course, this makes it very easy for us to make payments. However in my place not all places can make payments as you said because we still use money in terms of making payments.

[Pejoh Asu]

Non-cash transactions are indeed getting easier and more popular, support from many places that accept cashless payments has made non-cash growth significantly increase, on the other hand, of course, non-cash transactions can avoid counterfeit money, theft crimes and so on, for the state of course this is getting easier to control circulating money.

[Kakmakr]

You have to go to Africa, if you want to see digital payments in action. I saw 1000s of people in rural areas using centralized payment options like M-Pesa and the informal markets are flourishing.

Yes..... communication networks are slacking, but Cellphone networks are quite established and alternative networks are being developed all the time. The thing is...... electricity networks go hand in hand with communication networks, so it must be developed at the same time. 

[Bloodseekers]

Non-cash transactions are indeed getting easier and more popular, support from many places that accept cashless payments has made non-cash growth significantly increase, on the other hand, of course, non-cash transactions can avoid counterfeit money, theft crimes and so on, for the state of course this is getting easier to control circulating money.

It is true that cash payments will greatly facilitate transactions, but of the many current technological developments, of course there will be advantages and disadvantages, there is still a need for adjustments to local environmental conditions, such as in areas that do not yet have good internet network support, of course this cannot be done. because this will be a problem if the network suddenly encounters a problem when making a transaction.

[dothebeats]

Non-cash transactions are indeed getting easier and more popular, support from many places that accept cashless payments has made non-cash growth significantly increase, on the other hand, of course, non-cash transactions can avoid counterfeit money, theft crimes and so on, for the state of course this is getting easier to control circulating money.

It is true that cash payments will greatly facilitate transactions, but of the many current technological developments, of course there will be advantages and disadvantages, there is still a need for adjustments to local environmental conditions, such as in areas that do not yet have good internet network support, of course this cannot be done. because this will be a problem if the network suddenly encounters a problem when making a transaction.

You are right. There are various aspects that need to be considered with non-cash transactions. There are still places in various countries that either do not have stable internet to offer or have zero to low signal. Another factor is that not everyone has the capacity to buy smartphones with updated software that supports scanning QR codes and downloading e-payment applications. Lastly, there are still individuals who are tech-savvy enough to understand and follow steps in using e-payments for cashless transactions. Hence, as both options have their pros and cons, it is best if both are offered by merchants in terms of transactions.

[19Nov16]

The easier and cheaper internet access is proven to make everything easier and simpler, and non -cash transactions are certainly very dependent on the internet network, it is natural that the presence of non -cash transactions is easily accepted and apply widely because of the ease of internet access, things are different, of course it is difficult to find If there is no internet access.

[sana54210]

The easier and cheaper internet access is proven to make everything easier and simpler, and non -cash transactions are certainly very dependent on the internet network, it is natural that the presence of non -cash transactions is easily accepted and apply widely because of the ease of internet access, things are different, of course it is difficult to find If there is no internet access.

This is why it is getting more digital. These days, even fiat is more digital and crypto is purely digital as well and we are getting there. It means that data will be there. One person could just check what they spend money on by checking their bank statement, all digital, all from their phone and could make their own calculations based on that as well. I am not saying that it should be a big deal or not, all I am saying is that we are at a stage where it is going to be not a big deal at all.

Digital situation is what helping the crypto world grow as well, when you are already at a level where it is digital then changing the situation would be a lot more important and then we are going to be able to change to crypto a lot easier.

[Negotiation]

Nowadays cashless transactions have become popular in the age of internet. Crypto is going up a lot but the turnover value and role of cash in the market situation is increasing significantly because many times cash transactions are needed. Indeed the impact will not be the same for all countries, favoring those who are able to spread it over a larger number of transactions. It cannot be ruled out that the gap with other systems will be wider for us. In conclusion we reiterate our strong opposition to the digital situation believing that the market can only develop by finding its economic benefits and reasons for being. But without internet cashless transactions will become very difficult.

[Joshapat]

Changes in many ways continue to occur and at this time many developers want to present a transaction system that is fast, cheap and of course safe, cash transactions are of course no longer effective because it makes us more troublesome, the presence of cash cards really helps facilitate transaction systems and for the government of course easier to monitor the circulation of money.

[Bloodseekers]

Non-cash transactions are indeed getting easier and more popular, support from many places that accept cashless payments has made non-cash growth significantly increase, on the other hand, of course, non-cash transactions can avoid counterfeit money, theft crimes and so on, for the state of course this is getting easier to control circulating money.

It is true that cash payments will greatly facilitate transactions, but of the many current technological developments, of course there will be advantages and disadvantages, there is still a need for adjustments to local environmental conditions, such as in areas that do not yet have good internet network support, of course this cannot be done. because this will be a problem if the network suddenly encounters a problem when making a transaction.

You are right. There are various aspects that need to be considered with non-cash transactions. There are still places in various countries that either do not have stable internet to offer or have zero to low signal. Another factor is that not everyone has the capacity to buy smartphones with updated software that supports scanning QR codes and downloading e-payment applications. Lastly, there are still individuals who are tech-savvy enough to understand and follow steps in using e-payments for cashless transactions. Hence, as both options have their pros and cons, it is best if both are offered by merchants in terms of transactions.

Yes, you are right, there are still many things that need to be considered in terms of non-cash transactions so that they can be carried out properly in the future. I think over time, if the community and environment have supported, of course, non-cash transactions will greatly facilitate the community in terms of transactions.