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Old 10th January 2017, 11:17   #91
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Paytm has grown tremendously, but yesterday I found out what happens when you run into issues. All I did was to merge my 2 accounts as I wanted to update my email id on my primary account.
Lo and behold, after all of it - I am unable to login - it keeps giving me a warning that my account is temporarily blocked. I tried contacting their CC - utterly useless, it is an IVR, contacted them on twitter, again useless, wrote them emails - ticket opened and I am still waiting for a resolution.

In this day and age, to have such a pathetic grievance redressal is just unacceptable.
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Old 10th January 2017, 11:40   #92
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

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Originally Posted by pratyush6 View Post
I tried contacting their CC - utterly useless, it is an IVR, contacted them on twitter, again useless, wrote them emails - ticket opened and I am still waiting for a resolution.

In this day and age, to have such a pathetic grievance redressal is just unacceptable.
I made a purchase of Rs 5300 worth stuff from Bata and made payment via PayTM since card machine had 'server issues'. The amount was deducted from my PayTM wallet but Bata didn't receive it. Contacting PayTM was pretty useless since they don't have a phone number to speak to someone. They log tickets but the resolution is canned response quoting the transaction ID. I had to escalate via Bata and finally after 2 weeks, the amount was credited in PayTM account. Those 2 weeks were tense since there was hardly any update from PayTM.

Wallet statement:
The Cashless Transactions Thread (apps, wallets etc.)-capture.png

Last edited by msdivy : 10th January 2017 at 11:56. Reason: Attaching wallet statement
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Old 10th January 2017, 11:46   #93
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

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Originally Posted by msdivy View Post
Contacting PayTM was pretty useless since they don't have a phone number to speak to someone. They log tickets but the resolution is canned response quoting the transaction ID. I had to escalate via Bata and finally after 2 weeks, the amount was credited in PayTM account. Those 2 weeks were tense since there was hardly any update from PayTM.
Oh after this I will never purchase anything from them, even if it is at a throwaway price. I did not even buy anything, I just merged my accounts - and all funds are in the account which is blocked

God forbid if there is a problem with anything, you are just left holding the bag. They may try and model their CC on Uber, but Uber atleast responds. I hope more people know about this.
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Old 10th January 2017, 14:09   #94
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

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Originally Posted by J.Ravi View Post
Today, I wanted to order a refill Indane cylinder by paying online in advance so as to save ₹ 5 through my account in www.indane.co.in. First, I searched in vain for RuPay debit card option as I have a RuPay debit card issued by SBI. So, my hopes of hitting a jackpot in a lucky draw for UPI/RuPay cashless transactions were dashed. The available options were MasterCard/Maestro/Visa debit cards. I tried my MasterCard debit card. While processing, it showed ₹ 1.50 plus taxes for banking charges! Then, I changed my mind and decided to try my luck with the netbanking option. When I selected SBI, it showed ₹ 8 plus taxes for banking charges! I decided enough is enough. Why should I save ₹ 5 by advance online payment, only to pay back to these intermediaries? I cancelled the advance payment option, selected COD and booked the refill. Cashless India, my foot!
Very much true. Even Bharat gas payment is similar. You book a cylinder online, but pay these intermediaries their banking / card charges. Then you get back some consolation amount from government to 'encourage' cashless transaction.

If they do want to encourage cashless transactions, these service charges of all kinds charged by card companies & banks should be withdrawn. No refund* stuff (*Conditions apply).

On RuPay Card:
If RuPay card is the way forward, can the Government make a deal with Visa / Master / Maestro companies, until all the cards in India are replaced with RuPay cards?
Can the Government make sure that the RuPay card never ever charge anything as a service charge / transaction charge in the future?
Can the Government make sure that the RuPay card is accepted worldwide (with relevant partnerships, probably with a service charge abroad).
If everyone in India use RuPay card, all those who create an online interface would have RuPay card listed for sure due to our population.

UPI Apps:
There are just too many apps now, and BHIM really seems to be a good contender. We can maintain multiple accounts, check balance easily, can transfer funds easily with a QR Code scan. However, BHIM, and all other UPI app require some decent internet The 2G internet is sufficient, but with low connectivity, and for micro payments it can become a headache. At this moment, we can't say it is a reliable option. It is as trust-able as the internet in that area.
Tried Empower (Canara bank app) and is kind of okay. Also using HDFC Bank Netbanking app, which also has UPI integrated.

USSD Mode:
This is a surprise actually and is quite good. All we need is mobile signals. We can check Account balance, as fast as checking the mobile balance. Never tried fund transfer though.

In General, acceptance is still low. I am living in a rural part of a city. Here cash is still the king. Every single item is paid by cash, and it will take some time before they all start using cashless modes. However since I travel the whole length of the city, I manage to meet all my needs on the way using my Credit / Debit cards (Visa / Master). For me nothing has changed so far, except for the BHIM & USSD raising some amount of curiosity (as a tech user)
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Old 11th January 2017, 12:40   #95
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

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Originally Posted by msdivy View Post
I made a purchase of Rs 5300 worth stuff from Bata and made payment via PayTM since card machine had 'server issues'. The amount was deducted from my PayTM wallet but Bata didn't receive it. Contacting PayTM was pretty useless since they don't have a phone number to speak to someone. They log tickets but the resolution is canned response quoting the transaction ID. I had to escalate via Bata and finally after 2 weeks, the amount was credited in PayTM account. Those 2 weeks were tense since there was hardly any update from PayTM.

Wallet statement:
Attachment 1593865
In a retail store, I find PayTM (and other digital wallets) to be less efficient and error prone to use compared to cash for smaller amounts, and simply makes no sense to use for high value transactions. Only time i have used PayTM in any brick-and-mortar store is because of the incentives (cash backs etc) it offered compared to other options.
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Old 11th January 2017, 16:26   #96
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Quote:
“BHIM uses three-factor authentication and hence, is relatively more secure from a consumer point of view. It also combines the convenience of a mobile wallet with the security of net banking,” he said.

When a user opens BHIM application for the first time, the application automatically binds itself to their device ID and phone number — both of which are unique. This means that the same UPI cannot be used from two phones. The BHIM application will also not work on a phone which doesn’t have a SIM card.

“This uniquely identifies not just the device but the active number. If there is some fraud…you have an operational number plus the device ID, which in some cases can be masked, but a combination of both makes it easy to track the cell phone and law enforcement agencies can physically trace the person, if needed.” Mr. Modi said.

“The third factor is the UPI PIN, set by the user, which will be required for every transaction through the application.” No user would be able to do transactions without the UPI PIN, he said.
http://www.thehindu.com/business/Ind...le17009140.ece

And by the way the Modi in the text is CEO of a Security Firm.
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Old 13th January 2017, 13:18   #97
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

I believe, going cashless is not a technique but an entire cultural change.

We may argue that Internet has penetrated well enough, however that penetration into the populace does not translate into belief over internet. It would be silly to expect a person used to cash to suddenly trust some app or non human interface to manage his money effectively. Also, the fact that despite all the user experience research going in making these apps easy to use, a majority of the users are still struggling to figure out how to use these apps.

The second point is payments to the merchants. Quite a few merchants have complained that their payments are delayed by banks and then the merchants face a lot of trouble.

The third point is how trustworthy are apps like PayTM and how are consumers and merchants legally protected in case these apps or businesses go awry? PayTM ran into trouble sometime back and there have been a few cases of these apps not working. For a new user, such experiences erodes the trust that he can levy on these interfaces.

The last point is about the security. Just a month before demonetization announcement the news came out where more than a million cards were hacked. The banks had to replace these cards. Time and again we see news articles over how customers suddenly see their money wiped away by some hacker and the hapless customer making endless rounds of the bank. Nobody is even discussing the security aspects of internet and cashless transactions. There is absolutely no discourse over it.

I believe, when you are trying to move a 85% cash transacted economy towards cashless transaction, you need to at least answer the security, legal aspects of it. Cultural may follow sooner or later.

Disclaimer: Having stayed in Mumbai, I do a majority of my transactions via cashless methods and have come to completely rely on it for their speed and convenience. Despite that, I would urge everyone to think and debate upon the legal and security aspects.
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Old 14th January 2017, 17:25   #98
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

Initiative taken by the Government Of India is undoubtedly praiseworthy but this effort needs to be adequately complemented by the Banks. I have a ICICI Bank Coral Credit Card which gets me a cash back of 2.5% in addition to reversal of Service tax and Surcharge when I swipe in ICICI POS Terminal at HPCL Petrol Pumps. Post Demonization, I was expecting that Surcharge and Service tax would not be charged when I use my Credit Card at Petrol pump through any POS. But to my surprise I was charged Rs 1440.25 when I filled up fuel amounting Rs 1400.00 while using the Credit Card. I used it at HPCL Petrol pump through Corporation Bank POS. I am clueless in terms of the following points:

1. Does the Govt still expects general public to pay this extra amount(Surcharge plus Service Charge) at a time when Govt itself is rigorously advocating Cashless Mode of Transaction?

2. I live in a Asansol (Tier 2 City as per RBI Classification), approximately 80% Petrol Pumps are still not equipped with POS Terminals. Remaining 20% Petrol Pumps invariably say that their POS are “Out of Order” during pick times of the day and insist on cash transactions.

3. Cashless Transaction is the future and Govt has taken a historical decision on this, but why NEFT & RTGS charges are still being collected by the Banks when I am using the same through my Internet Banking?

Govt must ensure that “Cashless Transaction” Infrastructure are put in place and Banks are supporting this system with complete sincerity and commitment so that it makes the life of the Consumer easier compared to what it was earlier. Unfortunately, we are paying the price for going “Cashless” presently.
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Old 22nd January 2017, 13:40   #99
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

I am a strong supporter of cashless transactions and has been practicing it from long time. I only pay in cash where I don't have any other option.

One good thing the recent demonetization exercise has done is that now a lot of people are open to take soft currency. I must say Paytm has grabbed this opportunity by both hands, I don't find it very user friendly just yet but still better than using cash and its reach is great.

In addition to this I must admit that I never knew that I could pay toll with cards and got to know it only after the recent developments. Its a little slow in comparison to cash but I prefer it over cash.
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Old 25th January 2017, 12:49   #100
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

CM's panel recommends a tax on cash transactions above 50K among other measures to improve digital payments.

http://www.business-standard.com/art...2400958_1.html

http://timesofindia.indiatimes.com/b...w/56769962.cms
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Old 3rd February 2017, 15:51   #101
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

I bought New Spare Parts and New Tyres for our i20 and did payment using SBI Debit-cum-ATM Card (issued for our Current Account). I was charged 1% for Spares and 1.5% Extra for Tyres above the amount of Tax Invoice. Is it Ok or did I pay the Card charges unnecessarily? If it's latter, how can I avoid this in future?
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Old 3rd February 2017, 17:22   #102
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

I strictly use Paytm for receiving client fees and it works like a dream and I have transferred the amount to my bank a/c without a hitch. It's useful to do a KYC with them.
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Old 3rd February 2017, 19:02   #103
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

With regard to Paytm (and other wallets) how do they make money to sustain themselves?
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Old 3rd February 2017, 20:37   #104
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

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Originally Posted by IndigoXLGrandDi View Post
I bought New Spare Parts and New Tyres for our i20 and did payment using SBI Debit-cum-ATM Card (issued for our Current Account). I was charged 1% for Spares and 1.5% Extra for Tyres above the amount of Tax Invoice. Is it Ok or did I pay the Card charges unnecessarily? If it's latter, how can I avoid this in future?
Did the dealer warn you that you would be charged extra for using debit/credit card? If not you should complain to them.

Else log your complaint here http://consumerhelpline.gov.in/index.php
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Old 3rd February 2017, 20:59   #105
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Default Re: The Cashless Transactions Thread (apps, wallets etc.)

I have been relying on cards for making most of the payments since 2007, now with push for digital transactions multiple options have opened up. My rule is simple.
  • Transactions where credit card attracts surcharge (e.g. insurance premiums etc), pay via NEFT or debit card.
  • Use credit card for most high valued transactions. I have two credits, with very low and high limits. Low limits are mostly used for POS swipes (fearing skimming scams) and high limit is for online transactions (international transaction enabled only when needed). Credit card offers benefit of hot-listing and disputing any fraudulent / unsuccessful transaction.
  • Wallets are mostly used for low value transaction (<500), mainly for lack of customer support and perceived lack of security.
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