Problems related to Digital payments.
After the cash curtailment by GOI, middle class people are unable to transact their day to day purchases easily. Even though GOI has given direction for Digital transaction through debit/credit cards, e payments, mobile transactions, wallet payments, net banking, etc, in each system there are some problem or other. They are:
1.Shop keepers are desisting for use of swipe machine, since it will make them accountable in respect of sales they have done. Many shop keepers do not accept the swipe machine.
2.Banks are charging up to 2% service charges for every transaction through swipe. The shop keepers and even clinics are not ready to bear this charges and throw this charges on the customers. The middle class customers are not ready to bear extra cost on the service / products they buy. Hence only cash transactions are widely done in this country.
3.The Govt.of India, Ministry of Telecommunications have not taken any concerted immediate steps to improve failure free network by the service providers like Airtel, Aircel, BSNL, etc. The capacity of SERVERS has not been increased to cop up with the increased web transaction. Due to GoI orders many transaction are done through web and our servers are not capable enough to withstand the load put on it. So, increase the Servers, web service. If service providers are reluctant due to increased cost on them, then support them to get better web network. Otherwise GOI itself may have to setup NATIONAL SERVERS WITH 5TH GENERATION AND INSTALL THEM AND ALLOW THE SERVICE PROVIDERS AT A COST FIXED BY GOI.
4.Of late, in every bank, every post office or places where financial transactions are being taken place, Computers are lying dead due to Power failure, system failure due to overloading, system corrupted, etc.The shops who are having swipe machine, cannot operate due to telephone connectivity or lack of net connection. This happens invariably every day for some hours. Customers have to return home from Banks, Post Offices, etc, without their transactions undone. I my self could not do transaction in Banks and Post offices due to these factors. WHO IS RESPONSIBLE FOR THIS AND WHO IS TO BE BLAMED? WHO SHOULD RECTIFY AND MAKE THE SYSTEM SMOOTH FOR CARRYING OUT DIGITAL TRANSACTIONS.
5.The NET CONNECTIVITY SHOULD BE IMPROVED IMMEDIATELY TO INDUCE CONFIDENCE IN THE MINDS OF PEOPLE. FISHING OF DEBIT CARD NUMBER, PIN NUMBER etc should be declared as criminal offence and any offender (traders) should be punished for 7 years R.I. NET SAFETY SHOULD BE ENSUREDL ( HERE ANY ONE CAN SEE Mr. Renold Trump, American president to be, has expressed his concern about phishing and untrustworthy of Net safety.)
6.Supply of Debit Cards free of cost to all the Bank account holders, as is being done at Post offices. No transaction charges should be levied either from customers or from Traders (as this charge is in turn thrown on the customers).No renewal charges levied and the ATM/DENOT / CREDIT CARDS should be give with expiry time of minimum 5 years.
7..CASH CARDS SHOULD BE ENCOURAGED AND ALL BANK SHOULD SUPPLY CASH-CARDS TO THOSE CUSTOMER WHO WANT IT WITHOUT ADDITIONAL COST(or initial cost for Card).
8.. On completion of any transaction, the Bank concerned should immediately send SMS message to the customer concerned about the Debiting of amount with details.
Finally we want to inform that people are very much disgruntled due to GOI style of handling this issue. The FINANCE MINISTER cannot think of "EAT THE CAKE AND HAVE IT TOO" method. He cannot make common man (customers) to adopt cashless method by using Debit card etc., were in he pays for the transaction from his own pocket which is hard earned money saved in the banks. We do not know whether this is due to WRONG FINANCIAL ADVICE? How an ordinary man, would prefer to pay extra payment in addition to product price /charges for the service they receive in places like clinics? Naturally he will prefer to pay by cash only. Time and again all people requesting the GOI to remove the Debit Card Transaction Charges forthwith in order to encourage cashless transactions.
IF THESE SUGGESTIONS ARE CARRIED OUT THE USE OF DEBIT CARDS WOULD INCREASE MANY FOLDS WITHIN A SHORT TIME AND ECONOMY WOULD BOOST. more
1.Shop keepers are desisting for use of swipe machine, since it will make them accountable in respect of sales they have done. Many shop keepers do not accept the swipe machine.
2.Banks are charging up to 2% service charges for every transaction through swipe. The shop keepers and even clinics are not ready to bear this charges and throw this charges on the customers. The middle class customers are not ready to bear extra cost on the service / products they buy. Hence only cash transactions are widely done in this country.
3.The Govt.of India, Ministry of Telecommunications have not taken any concerted immediate steps to improve failure free network by the service providers like Airtel, Aircel, BSNL, etc. The capacity of SERVERS has not been increased to cop up with the increased web transaction. Due to GoI orders many transaction are done through web and our servers are not capable enough to withstand the load put on it. So, increase the Servers, web service. If service providers are reluctant due to increased cost on them, then support them to get better web network. Otherwise GOI itself may have to setup NATIONAL SERVERS WITH 5TH GENERATION AND INSTALL THEM AND ALLOW THE SERVICE PROVIDERS AT A COST FIXED BY GOI.
4.Of late, in every bank, every post office or places where financial transactions are being taken place, Computers are lying dead due to Power failure, system failure due to overloading, system corrupted, etc.The shops who are having swipe machine, cannot operate due to telephone connectivity or lack of net connection. This happens invariably every day for some hours. Customers have to return home from Banks, Post Offices, etc, without their transactions undone. I my self could not do transaction in Banks and Post offices due to these factors. WHO IS RESPONSIBLE FOR THIS AND WHO IS TO BE BLAMED? WHO SHOULD RECTIFY AND MAKE THE SYSTEM SMOOTH FOR CARRYING OUT DIGITAL TRANSACTIONS.
5.The NET CONNECTIVITY SHOULD BE IMPROVED IMMEDIATELY TO INDUCE CONFIDENCE IN THE MINDS OF PEOPLE. FISHING OF DEBIT CARD NUMBER, PIN NUMBER etc should be declared as criminal offence and any offender (traders) should be punished for 7 years R.I. NET SAFETY SHOULD BE ENSUREDL ( HERE ANY ONE CAN SEE Mr. Renold Trump, American president to be, has expressed his concern about phishing and untrustworthy of Net safety.)
6.Supply of Debit Cards free of cost to all the Bank account holders, as is being done at Post offices. No transaction charges should be levied either from customers or from Traders (as this charge is in turn thrown on the customers).No renewal charges levied and the ATM/DENOT / CREDIT CARDS should be give with expiry time of minimum 5 years.
7..CASH CARDS SHOULD BE ENCOURAGED AND ALL BANK SHOULD SUPPLY CASH-CARDS TO THOSE CUSTOMER WHO WANT IT WITHOUT ADDITIONAL COST(or initial cost for Card).
8.. On completion of any transaction, the Bank concerned should immediately send SMS message to the customer concerned about the Debiting of amount with details.
Finally we want to inform that people are very much disgruntled due to GOI style of handling this issue. The FINANCE MINISTER cannot think of "EAT THE CAKE AND HAVE IT TOO" method. He cannot make common man (customers) to adopt cashless method by using Debit card etc., were in he pays for the transaction from his own pocket which is hard earned money saved in the banks. We do not know whether this is due to WRONG FINANCIAL ADVICE? How an ordinary man, would prefer to pay extra payment in addition to product price /charges for the service they receive in places like clinics? Naturally he will prefer to pay by cash only. Time and again all people requesting the GOI to remove the Debit Card Transaction Charges forthwith in order to encourage cashless transactions.
IF THESE SUGGESTIONS ARE CARRIED OUT THE USE OF DEBIT CARDS WOULD INCREASE MANY FOLDS WITHIN A SHORT TIME AND ECONOMY WOULD BOOST. more
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Cashless is better but some shopping place they have no digital machines. Only cash transaction is supported. Consumers forum has a right to think about this. They are not accepting debit card or credit card. But why I don't know. Reserve Bank is requested to investigate the matter as they look the market. more
Apr 16
The should be warned strictly and punished accordingly On Tuesday, 21 March 2017 6:09 AM, Karur Radhakrishnan Chandrasekaran wrote: more
Apr 16
A very relevant topic. The Dept. of Consumer Affairs (Government of India) & the Ministry of Finance should first take action to stop the service charges on credit\debit card usages. Many shopkeepers charge 2% extra from customer for using cards. It is hypocrisy to discuss Digital India on one side while unwilling to control factors which keep public away from going digital. At least start promoting Post Office based banking with Zero balance accounts and nil charge cards. Do something well and then seek feedback. more
Apr 03
Clinic are asking 2% more only to avoid accounting purpose. Even if you agree to pay 2 % they will resist. more
Mar 27
Mr. Radhakrishnan has written a long narrative most of which is just repetitive. I am using credit cards for well over 20 years and a couple of debit cards also ever since the facility for online transactions started. My comments are as under. 1. For the credit cards, the bank gives a credit of 20 to 50 days, depending on billing cycle, to the user but pays the merchant establishment immediately on presentation of the bills. It is but natural that the bank has to charge some transaction fee to cover its expenses on interest on the amount given to the shopkeeper and other incidental expenses. What some members do not realize is that it is unfair to expect the banks to give a free service to both card holders and shopkeepers. This at present is being recovered from merchant establishments and not the card holder. It is therefore wrong to say that the customer pays these charges. 2. Most of the established outlets willing to declare their sales absorb these charges in their expenses which are offset by way of increased sales. Some small ones are reluctant to bear these charges. 3. Telephone connections are freely available and are giving reliable service and so barring some remote places are no problem. 4. Those who are interested to run their business keep the infrastructure like power supply, computers (for billing) in working condition. A computer is not required for use of a credit / debit card. 5. Even in big cities, many of the customers who are otherwise knowledgeable, as well as outlets are reluctant to transact in white money and so make such excuses. It is time we understand the reality and start using cashless. transactions more and more. Barring small purchasers, all my transactions are cashless and I have no problem at all. more
Mar 24
