Cashless / Digital Transaction

[tweaker]

Users of e-payments company PayTm on faced difficulties in transacting through the app which the company said was due to some "technical" error.

"We are facing some technical issues. We will have it resolved shortly so please try again after some time," an automated message popped up on screen at the time of transaction.

When contacted, a Paytm spokesperson attributed the outage to challenges the company is facing with a sudden jump in the number of users and associated traffic.

The spokesperson said that Paytm has added 20 million new users in last 40 days taking the total number of registered users with us to 170 million.

[Singh bling]

Quote

Prakash Javadekar dangles extra marks for cashless modes

http://timesofindia.indiatimes.com/city/pune/Minister-dangles-extra-marks-for-cashless-modes/articleshow/56092391.cms

 

[Mariyam]

On 12/20/2016 at 0:45 AM, Singh bling said:

 

According to this report after having tea Ram vilas Paswan wanted to pay through Pay tm , but system was slow it took half an hour.

 

Mantri ji ko pata nahi thaa ki paytm server Mantri aur aam aadmi mein difference nahi jaanta

Thank heavens he didn't order for biscuits.

[tweaker]

Snapdeal, on Thursday announced the launch of a “Cash@Home” service, which allows users to order cash and have it delivered at their doorstep.

 

The service is a goodwill gesture by Snapdeal to allow users to easily access cash without having to queue up at their bank or at the ATMs. Snapdeal will be using the cash that it receives through Cash on Delivery (CoD) to operate this facility.

[tweaker]

Mobile payments company Paytm is still facing issues in transacting as many users have complained that money was deducted from their bank accounts but did not reach the e-wallet.

 

Besides, the users said they are not able to see the existing balance in their Paytm wallet and their attempts to transfer the balance back to bank accounts were failing. Paytm customers have been facing such issues for the last few days.

[tweaker]

The central government’s push for cashless transactions is likely to benefit small businessmen filing the tax under the presumptive tax scheme for the current financial year.
 

[Rohit S. Ambani]

23 minutes ago, tweaker said:

Mobile payments company Paytm is still facing issues in transacting as many users have complained that money was deducted from their bank accounts but did not reach the e-wallet.

 

Besides, the users said they are not able to see the existing balance in their Paytm wallet and their attempts to transfer the balance back to bank accounts were failing. Paytm customers have been facing such issues for the last few days.

I face weird issue with Paytm, they send an OTP after 10-15 mins, by that time my session expires lol. Then I get bombarded by multiple OTPs every 15 seconds interval.

 

Mobikwik sucks even more, my money is in limbo now.

 

Indian banks do not trust customers, if your money gets stuck, you have to wait a month.

[Singh bling]

Quote

Post demonetisation, banknotes still call the shots in ‘cashless villages

http://www.hindustantimes.com/india-news/post-demonetisation-banknotes-still-call-the-shots-in-cashless-villages/story-3yLYwDlWsbi5E2P0kO6hCJ.html

 

Badjhiri (Madhya Pradesh)

“They (the authorities) say our village is the first cashless village in the state. The truth is we are really becoming cash-less,” laments Shyam Sharma, the ex-sarpanch of the roadside village of about 400 households some 25km away from Bhopal.

Read | A month of demonetisation: From people’s pain, job losses to political war

Earnings, Sharma and other villagers say, is down at least 50% following last month’s demonetisation.

State finance minister, Jayant Malaiya, declared Badjhiri cashless last week with much fanfare. But days later, less than half of the two dozen shops in the village have got swipe machines for cashless transactions.

Minister for finance Jayant Malaiya on Tuesday dedicated first digital ‘cashless’ village Badhjhiri, 25 kms from Bhopal, to the public. (PTI)

Even those who have the machines complain not many villagers are willing to use them. “They don’t trust cashless transactions,” pointed out a grocer.

Shop owners say despite being the state’s first cashless village, they have their own compulsions in not insisting upon online payments. “Our business is already down. We can’t afford to turn away customers,” pointed out Vinod Verma, the owner of a general store.

Moolchand, a farmer, felt the PM has erred. “Jaldi ka kaam Shaitaan ka. Notebandi achchha decision tha, par bahut jaldi me kiya Modi ji ne, woh bhi bina taiyari ke…(Acting in haste is the work of devil. Demonetisation was a good decision by Modi, but he did it without much preparation and in haste)”, he pointed out.

 

[Singh bling]

Quote

A U-turn! Manohar Parrikar says cashless Goa neither possible nor desirable 
 

Read more at:
http://economictimes.indiatimes.com/articleshow/56159083.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

 

[tweaker]

[wtachetna]

This decision is wrong. Digital transaction is very difficult in a country like India. The process should have been slow, not like this when all of a sudden PM proclaimed in the evening that from next day onwards people cannot use their paper money. This decision is very childish decision taken by PM.

 

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Edited December 26, 2016 by wtachetna

[Singh bling]

Quote

 

Paytm employees' role probed by CBI in Rs 10L fraud cases

http://tech.economictimes.indiatimes.com/news/mobile/paytm-employees-role-probed-by-cbi-in-rs-10l-fraud-cases/56174396

 

Abhi se ghotale shuru ho gaye cashless mein

[tweaker]

NITI Ayog along with Nasscom and telecom operators has set up a dedicated helpline to address issues related to digital payments as the government has taken several steps to promote digital transactions after demonetisation.

 

"Nasscom, telecom operators, along with NITI Aayog, were creating a helpline -- 14444 -- for addressing all queries on digital payments," said NITI Ayog on Wednesday, after the fourth meeting of Chief Ministers` Committee led by Andhra Pradesh Chief Minister N. Chandrababu Naidu, which has been formed to boost digital payment system.

[Detonator]

Paytm will eventually disappear when banks develop their own transaction apps. SBI already has their SBI Buddy which is far better than paytm.

[tweaker]

On the eve of the expiry of the deadline to deposit demonetised currency in banks, Prime Minister Narendra Modi urged citizens not to regard digital transactions as a short-term substitute for cash payments.

 

"Digital transactions should not be viewed as a short-term substitute for cash payments," Modi told India Today magazine in an interview.

 

"Digital transactions facilitate formal accounting and sizing of the economy," he said.

[Singh bling]

Today I was at  stationary shop for photocopy,there were two women  were purchasing some gifts when photocopy started of 15 pages  both sides. they asked the amount and shopkeeper said 280 rupees. , they started scanning freecharge code  but it did not happen , shopkeeper told them transfer money  to mobile number , they tried it did not happen , then shopkeeper asked them if they had card they gave it , he also started trying it with his wireless machine but again the transaction did not happen ,so shopkeeper again started photocopying and finished my work .I paid him in cash but those women were still standing their , cashless India  

[tweaker]

Prime Minister Narendra Modi on Friday launched a new mobile application called 'Bharat Interface for Money (BHIM)' in order to give a push to digital payments. 

 

BHIM is interoperable with other Unified Payment Interface (UPI) applications, and bank accounts. BHIM is developed by the National Payment Corporation of India (NPCI), as per the application's summary given at Playstore.

[tweaker]

Since November 8, every Indian has only one thing on mind: the dilemma of choosing a safe, secure, convenient and cashless payment option. Currently available cashless payment systems include credit/debit cards, e-wallets such as Paytm, Unified Payment Interface (UPI), IMPS, USSD, RTGS, and NEFT. Which one should you use and for what kind of transactions? Here's how you can decide. 

We have compared them all on eight different parameters to help you choose what suits you best: 

 

1. Time taken to complete a transfer/payment; 
2. The maximum amount you can transfer; 
3. The financial details/information (e.g. account number etc) that you need to complete the transfer; 
4. How is the transaction validated/authenticated; 
5. Whether you will earn interest on the money kept in reserve in the payment system? 
6. Whether you need to specify who the money is being transferred to in advance i.e. register the beneficiary (recipient) of the money (beneficiary registration); 
7. What infrastructure/technical support is a must for the transfer to happen 
8. And lastly, what are the costs involved There is no single 'best' payment option for everyone and all transactions. However, you could try to pick a payment option suitable for your purpose. Below is an overview of the comparison analysis. 

[tweaker]

E-wallet companies like Paytm, Freecharge and MobiKwik, among others, were over the moon when demonetisation was announced in November. But they won’t be as enthused at the government’s decision to roll out the Bharat Interface for Money, or BHIM app, to push digital cash transfers in a big way.

 

If marketed properly, BHIM — an upgraded version of the United Payment Interface (UPI) launched last year — has the potential to render mobile wallet players redundant.

[tweaker]

Paytm on Tuesday announced that the Reserve Bank of India (RBI) has given it permission to formally launch its Payments Bank. The company which had deferred the launch by more than three months has now got the go ahead to launch it. It is expected to roll out Paytm Payments Bank within the next 30-60 days.