Go Back   Team-BHP > Around the Corner > Shifting gears


Reply
 
Thread Tools Search this Thread
Old 2nd January 2017, 17:07   #16
Distinguished - BHPian
 
Rajeevraj's Avatar
 
Join Date: Aug 2011
Location: Bangalore
Posts: 3,169
Thanked: 7,543 Times
Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Quote:
Originally Posted by ampere View Post
Same feeling here as well. Quite concerned on mobile security.

The other big point: I dont see Citibank on that list. Would have loved to have it.
Not very sure how they pulled out the account details. Was it just based on mobile number, or was it via Aadhar/PAN linked to mobile number? Whatever the method, it was scarily fast.

Citibank does not come up in a lot of these online government related sites. Not sure why. Smaller foreign banks are there.
Rajeevraj is offline   Reply With Quote
Old 2nd January 2017, 17:22   #17
Team-BHP Support
 
ampere's Avatar
 
Join Date: Sep 2009
Location: Bangalore
Posts: 15,349
Thanked: 8,166 Times
Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Quote:
Originally Posted by Rajeevraj View Post
Not very sure how they pulled out the account details. Was it just based on mobile number, or was it via Aadhar/PAN linked to mobile number? Whatever the method, it was scarily fast.
Its the same mobile which is registered against the bank account. Hence it pulls out the details. Thats why I am worried on the security of the interface.

On the Citi UPI, I hear they are working on it. But how it will be integrated to BHIM, cannot say.
ampere is offline   Reply With Quote
Old 2nd January 2017, 18:19   #18
Newbie
 
amit_rai's Avatar
 
Join Date: Dec 2016
Location: Hyderabad
Posts: 17
Thanked: 35 Times
Default

Banks provide this information to Government, this is very basic compared to what information we provide in lot of other places. Data privacy is always the barrier we have to cross to become really cashless.
amit_rai is offline   Reply With Quote
Old 2nd January 2017, 18:31   #19
Senior - BHPian
 
Join Date: Aug 2010
Location: Madras,Modena
Posts: 1,041
Thanked: 659 Times
Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Quote:
Originally Posted by amit_rai View Post
2. Limited amount of transaction can be done.
Is there a limit on how many transactions can be done? Or are you talking about the acceptance?
narayans80 is offline   Reply With Quote
Old 2nd January 2017, 18:44   #20
Newbie
 
amit_rai's Avatar
 
Join Date: Dec 2016
Location: Hyderabad
Posts: 17
Thanked: 35 Times
Default

In one go, you can pay/receive maximum 10000 rs. Maximum 20000 within 24 hours. I think the limit may increase as government gathers more data.
amit_rai is offline   Reply With Quote
Old 2nd January 2017, 20:39   #21
BHPian
 
Join Date: Sep 2005
Location: On The Net
Posts: 302
Thanked: 0 Times
Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Saw this comment in another website.. scary

Quote:
Made a few transactions using BHIM app, the other person doesn't receive any confirmation SMS, so there's no way for the other person to know if the money is transferred unless he or she has Internet connectivity and opens the app to check. This could lead to some confusion. One of the failed transactions resulted in money being deducted from my account, and I wasn't even aware of it until I opened the net banking (since there was no sms confirmation on the money deducted or added), no refund yet. Complaint redressal system is a pain.
pmbabu is offline   Reply With Quote
Old 2nd January 2017, 21:53   #22
Senior - BHPian
 
Join Date: Jul 2010
Location: Bangalore
Posts: 1,817
Thanked: 3,024 Times
Default Re: The Cashless Transactions Thread (apps, wallets etc.)

We need to temper our expectations when moving to cashless payment systems. Sure they're convenient, when they work as advertised.

When something goes wrong, there's bound to be painful experiences and a lot of trial/error before the systems mature. While it's great to have multiple options, it ultimately falls to the customer to make informed choices to avoid compromising data security.

Not very easy (esp. for illiterate/semi-literate users), but nobody mentions the hard bits when promoting a product, do they?
Chetan_Rao is offline   Reply With Quote
Old 2nd January 2017, 22:35   #23
Senior - BHPian
 
Join Date: Aug 2010
Location: Madras,Modena
Posts: 1,041
Thanked: 659 Times
Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Quote:
Originally Posted by amit_rai View Post
In one go, you can pay/receive maximum 10000 rs. Maximum 20000 within 24 hours
Thanks. 20K is more than enough.

What I was interested if there was any limit of the number of transactions/days as such. Like 50 or 100 per day types? Something that would be useful when on a drive and making low value transactions (paying tolls, highway eateries etc).

Quote:
Not very easy (esp. for illiterate/semi-literate users)
Personally, I think its more to do with the willingness on one's part. My parents aren't illiterate, but are in stone age in as far as cashless transactions are concerned. They haven't even got themselves an ATM card Their cashless transaction medium ends at cheques and demand drafts!. Yes, even post November 8.

I blame it on their mental block and unwillingness to adapt. I won't even say age is a factor here.
narayans80 is offline   Reply With Quote
Old 2nd January 2017, 22:41   #24
Senior - BHPian
 
Join Date: Mar 2010
Location: Bangalore
Posts: 1,018
Thanked: 520 Times
Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Indian masses are miles ahead of the liberal elites of the country in adapting new things. There were strikes by the liberal left when computers and ATMs were introduced in the country. But general public understood the importance of digital world in 90's itself, sent their wards to engineering courses and India could garner a major pie in the software economy. The country leapfrogged many generations in telcom revolution and today has a bigger mobile user base than even USA. Similarly digital payment methods are also bound to face resistance and initial hiccups. But it is heartening to see the young generation (teens and people in early 20's) as usual taking the lead in this.
One problem I see today is massive fragmentation of digital payment modes. All the UPI based apps should be unified. BHIM is a good beginning. But looks like there are some major technical glitches which need to be ironed out. If this picks up commission based POS and Pay through mobile apps will be history. Direct to bank with zero commission or payment charges will be music to ears of merchants as well as buyers.
Quote:
I blame it on their mental block and unwillingness to adapt. I won't even say age is a factor here.
My mother has gone fully digital. I send her money online. She lives in a tier 5 town and make all purchases using her debit card now. All her purchases have been consolidated and moved to a supermarket. This was never the case before Nov 8.

Last edited by poloman : 2nd January 2017 at 22:48.
poloman is offline   Reply With Quote
Old 2nd January 2017, 23:02   #25
BHPian
 
Join Date: Sep 2015
Location: Pune
Posts: 404
Thanked: 382 Times
Default

I tried multiple txns with BHIM app. Worked flawlessly. Takes less than 10s to get confirmation.
If merchants shift to this, bye bye #Paytm
freedom is offline   Reply With Quote
Old 2nd January 2017, 23:04   #26
BHPian
 
Join Date: Dec 2015
Location: AHMEDABAD
Posts: 111
Thanked: 48 Times
Default

Paid for petrol through PayTm, got 0.75% instant cashback.
Attached Thumbnails
The Cashless Transactions Thread (apps, wallets etc.)-1483378410915.jpg  

iss1307 is offline   Reply With Quote
Old 2nd January 2017, 23:11   #27
Senior - BHPian
 
Join Date: Jul 2010
Location: Bangalore
Posts: 1,817
Thanked: 3,024 Times
Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Quote:
Originally Posted by narayans80 View Post
.....Personally, I think its more to do with the willingness on one's part....

...I blame it on their mental block and unwillingness to adapt. I won't even say age is a factor here.
I'm not sure you read my post right.

I was indicating at the problems faced when something goes wrong with the convenient-at-face value options. Even literate, tech-savvy urban folk have nightmares dealing with frustrating and often non-existent (or barely there) support services.

Now imagine someone like your parents, who may not have issues using these services while they work, but can't manage the hassle of following-up and resolving issues.

While it's easy to blame that generation's unwillingness to adapt, it merits consideration that they earned their money in entirely different circumstances and are fiercely protective of the little they have. It's a bit unfair to judge them while the systems they're being expected to adapt to are in their nascent stages and lack robust support.

They're used to dealing with monetary instruments and mechanisms where the complaint redressal usually involved visiting a bank manager (whom they've probably known for years) and talking in-person. We consider bank visits inconvenient (I didn't even know where my salary account's home branch was located for several years), but it's part of the banking relationship for their generation, something they consider necessary and maybe even look forward to.

Now if they suddenly have a PayTM, UPI, BHIM or whatever transaction going bust and not knowing whom to talk to (plenty of these options don't even have a proper support and escalation system today), imagine their plight.

Long story short, everyone will adapt (evolution is relentless and unstoppable), but let's not be quick to judge the reluctant and unwilling. There's two sides to that story, and tech-savvy folks like us probably don't see what's the big deal instead of being empathetic and patient while the oldies catch on.

Last edited by Chetan_Rao : 2nd January 2017 at 23:20.
Chetan_Rao is offline   Reply With Quote
Old 3rd January 2017, 08:45   #28
BHPian
 
deehunk's Avatar
 
Join Date: Nov 2009
Location: Bangalore
Posts: 859
Thanked: 546 Times
Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Quote:
Originally Posted by deehunk View Post
I have to wait for 4 hours to add funds to pocket account.
I got the money to my pocket account after 8 hours by doing a NEFT, so much of time for getting Rs.200. This may be the reason for so much of negative reviews about Pocket.
deehunk is offline   Reply With Quote
Old 3rd January 2017, 09:14   #29
Senior - BHPian
 
shankar.balan's Avatar
 
Join Date: Apr 2008
Location: BLR
Posts: 8,053
Thanked: 5,304 Times
Default Re: The Cashless Transactions Thread (apps, wallets etc.)

If BHIM is driven hard by the Government and UPI is pushed mandatorily to all Merchants and end users, the likes of Paytm and so on, will simply curl up and die.

This is one unique chance the Government has, of creating cashless economy and creating a clearly visible electronic trail.

This in itself, if properly pushed and implemented, will go a very long way in reducing black money and "hawala"...
shankar.balan is offline   Reply With Quote
Old 3rd January 2017, 10:26   #30
GTO
Team-BHP Support
 
GTO's Avatar
 
Join Date: Feb 2004
Location: Bombay
Posts: 46,537
Thanked: 80,270 Times
Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Quote:
Originally Posted by tht'snotME View Post
if you ask anyone who have gone to some developed countries they surely vouch for cashless transactions
You can say that again. My sister uses Apple Pay pretty much every place she has to make a payment.

They say, even a millionaire in the USA doesn't carry more than $20 in his pocket.

Quote:
Originally Posted by narayans80 View Post
They haven't even got themselves an ATM card
I'm reasonably tech-friendly and still don't have an ATM card . Neither do I have a debit card.

If there is a fraudulent transaction online, it's better that it affects my credit card (i.e. bank's money) than my debit card (i.e. my bank balance).
GTO is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
IT department tells car dealers to report transactions above Rs 2 lakh autobahnjpr The Indian Car Scene 28 31st August 2016 12:21
The wallets thread - Which one do you own joe1980 Shifting gears 32 4th April 2016 00:00
Watchout for questionable transactions by Tatasky Samurai Shifting gears 40 11th August 2011 10:46
Fraudulent transactions in the name of Kingfisher airlines in my Creditcard statement manojas Shifting gears 24 25th November 2009 23:01


All times are GMT +5.5. The time now is 06:29.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks