Issues with Digital Transactions - Inputs Sought
Many of you have shared your concerns on high cost of digital transactions, fees and service charges to merchants and as a result to consumers as a deterrent to digital transactions.
Kindly share all the issues you have experienced in last 6 months that made you use cash and others you anticipate in the future.
With your participation, we will then derive the solutions and take this matter forward with the key stakeholders.
We look forward to your inputs!
Dept of Consumer Affairs more
Insurance companies also are not accepting card payments for renewal of vehicle insurance . They ask for cash. Ex New india assurance in Rajahmundry , AP. more
lacs of crores of Rupees is being waved off by the govt for the business tycoons default in loan and people are enjoying outside India. Why the Govt should not bear 75% of the service charge for digital payment this will encourage digital payment in India and proper income hence income tax. Some business man still enjoying all facilities without paying any tax though their income is taxable.If calculated by this Govt will be profitable. more
If the money is kept before the digital transaction, there should not be any charges, rather the idle money should fetch some interest. more
Government should initiate the action for the following two issues:
1. All Government / Semi-government department to accept the money through credit card without any transaction / convenience charges. Example: IRCTC. Credit card is charged with the transaction charges on booking of ticket through IRCTC because IRCTC (merchant) does not pay the same to the bank. (2) Private Merchant should not charge the 'Convenience Charges'. In fact the cost of the transaction through website is much less than the cost when you transact on counter. It should be mandatory for NOT CHARGING Convenience charges. Merchant must bear the cost rather than transferring to the buyer. more
To start with, all online remittances to Govt and ULBs/utilities should be encouraged, to reduce hardship to consumer and lower cost of transaction. Hence the levy of gateway charges is counterproductive. As we are in the transition between cash/chq era to scan-click-swipe era - triggered by the demonetization in Nov 2016 - there is a pressing need to popularize and promote this habit and wean away the user from paper currency to a very large extent. It appears that more organizations / entities are getting into the payment gateway or digital wallet business as there should be money to be made there. Like the GST implementation - which never met it's promise of lowering end-user price by subsuming the various (and often double-) taxes - the side-benefit of demon of reducing paper currency is now appearing to fail. The internet charges or convenience fee or 'cute' fee charges are over and above the stated price (where this could be Govt regulated like in airlines) and hence similar to the service charges which get added to a restaurant bill in lieu of tips. In a restaurant bill, we can refuse and threaten to kick up a fuss and cause embarrassment. For online cases, too, only such collective action and name-and-shame may work. more