Cashless transactions.

eldavis

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The current situation in Nigeria has lead a lot of business owners to adopt the cashless transaction policy. Its either you pay with the new naira notes or you simply make transfer. What about small business owners like the market women who do not have accounts, how do you think they would survive this situation.
 
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Starmix

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That seems difficult and hard to define, those who do not have an account may face problems with purchasing. In Ph, both can have cash buying or credit cards.
 

Bisolami

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The current situation in Nigeria has lead a lot of business owners to adopt the cashless transaction policy. Its either you pay with the new naira notes or you simply make transfer. What about small business owners like the market women who do not have accounts, how do you think they would survive this situation.
A lot of us now need to make bank transfers anyway we buy something and it may be so tiring some people may not receive their money immediately
 

Chibson

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The major reason for the current situation is designing and printing of new currency notes to stop corruption. I think it is something that may happen for a while and normalise.
 

eldavis

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A lot of us now need to make bank transfers anyway we buy something and it may be so tiring some people may not receive their money immediately
This would even increase the rate at which scammers give out fake alerts to unsuspecting persons.
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The major reason for the current situation is designing and printing of new currency notes to stop corruption. I think it is something that may happen for a while and normalise.
Yea i understand their motive, but everything has a side effect. They printed little but now how would it be enough to circulate round the country.
 
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Springtime

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In Hong Kong, most people are using credit card, mobile wallets to pay for purchases. But there are still some small stores or those in the wet market which only accept payment by cash.
 

Chibson

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This would even increase the rate at which scammers give out fake alerts to unsuspecting persons.
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Yea i understand their motive, but everything has a side effect. They printed little but now how would it be enough to circulate round the country.
Good you understand that everything has a side effect. It will take some time before everything will be able to normalise.
 

eldavis

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Good you understand that everything has a side effect. It will take some time before everything will be able to normalise.
The worse part is that there are still persons who do not even have a bank account for their business to be able to take transfers.
 

Elendu

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Cashless transactions refer to financial transactions that are conducted without the exchange of physical currency or coins. Instead, they are performed using electronic payment methods such as credit cards, debit cards, digital wallets, and mobile payments. Cashless transactions offer convenience and security, and they are becoming increasingly popular as more and more people adopt digital payment methods.
 

Chibson

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The worse part is that there are still persons who do not even have a bank account for their business to be able to take transfers.
any business person who does not have a bank account to take transaction is not serious. Except the person does not want to do that.
 

Starmix

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I also prefer paying in cash. I can budget my money unlike using my debit or atm cards. I like to do shopping rampage and regret follows, lol.
 
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IB D

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The cashless transactions where mobile banking apps are not working. USSD codes are not working. We are not ready for these kind of things in Nigeria.
 

Starmix

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@IB D , it might happen months or a few years from now your country can adopt the systems like paying cashless. The right time and timing are needed by your government and people.
 

Stardom22

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I think going for the paperless transactions I a transition. So I think they might accept both of the payment in cash and the e-payment system for the time being.
 

Chibson

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@IB D , it might happen months or a few years from now your country can adopt the systems like paying cashless. The right time and timing are needed by your government and people.
Yes, when such policies are adopted people can suffer it for a few time but as time goes on everyone will be able to get used to it.
 

Starmix

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Yes, when such policies are adopted people can suffer it for a few time but as time goes on everyone will be able to get used to it.
That will not be made perfect because there are individual differences in income or financial status. It will never happen perfectly.
 
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