Cash is better than digital payments

[Sushubh]

Because if it is in your hands, you know it is there and it would work. Today I could not even buy eggs because Paytm just refused to work at Mother Dairy.

 

[amish]

Yes cash is better in world of distrust.

Because

1. Cash given is un-returnable once you receive cash - u know its urs unless u return it
2. Credit card transactions can be stopped. Fear of fraud is always there
3. UPI is far from perfect. It may happen that sender sends money but receiver does not receive it!!
   So now buyer wud say - I sent money. Seller wud say - I did not receive money!
   And inspite both being honest - transaction wont complete!
   Buyer will demand for item and seller wud refuse to give item!!
4. Need for internet on both sides is major drawback

 

[hitech0101]

Really depends on the situation. There are some places i prefer cash. I did stop relying on cash much before demonetization, my reasons were very different i found it convenient to use and track my expenses easily. I do carry cash all the time but i only spend it where nothing else is accepted.

 

[Sushubh]

Need for internet on both sides is major drawback

Paytm does not need internet at both ends. UPI also does not need internet at both ends. In both cases, receiver would receive a text from bank. Now it could be delayed but it comes. My Mother Dairy outlet guy does not have a smartphone. He just gets a text when I pay. He does not even check for message anymore when I pay. He just hears the tone and confirms the payment because I have been paying using Paytm for so long.

In some cases like 98.4... You do not even need internet at your end. You give your mobile number at time of payment. You get a text from Paytm with OTP. You give the retail outlet your OTP and that's enough for the payment to be made.

I have no problem with digital payment. I pay using Paytm wherever it is accepted. But at Mother Dairy today I was stuck because I did not carry cash with me so I was unable to buy eggs and bread that I had gone to buy.

 

[Neo8]

For small transactions cash is indeed better.

 

[Sushubh]

Paytm worked fine for payment in the evening when I went back to Mother Dairy. This is probably the first time Paytm failed for me during a payment. And it's frustrating because I was getting too used to not carrying my wallet with me when I went to buy milk and bread and stuff. Now I would be carrying my wallet just because of this incident.

 

[hitech0101]

I always carry my wallet. I am very sure i will end up at at least one situation where i have to use cash. The problem with digital payments is they are not 100% reliable someday sometime something does go kaput. I would still prefer them anyday over cash and use cash as backup. Besides most of the shopping i do nowadays is online anyways.

 

[Sushubh]

Paytm failed spectacularly again today. And it was not a local problem as @mhsabir confirmed that it was down for him too. Had to come back from Mother Dairy.

Mother Dairy guy said that many people faced the same issue through the day so it was not even temporary. Paytm does not get to have these downtimes when they promote their service as an alternative to cash honestly.