In one of our earlier blogs ”How #Demonetization is pushing us to go for #Cashless transactions” we had discussed the way demonetization has pushed us to opt for cashless transactions in continuation to that today‘s blog would discuss whether the non tech savvy people are ready to go cashless,what is holding them from going cashless and how we could help them out. In my view the non tech savvy is “NOT YET READY” to go cashless under the present circumstances. I refer to daily wage workers,people living below the poverty line,educated computer illiterate, people living in remote areas and not having any access to mobile or the internet ,senior citizens, the invalids as the Non tech savvy
In the present circumstances I feel that the below factor play a major role in non tech savvy choosing the cash forms over cashless
- Not willing to come out of their comfort zones and learn the cashless modes especially by the educated computer illiterates.
- Absence of stringent cyber security laws which increases the chances of cyber thefts and loss of senior citizen's savings .According to a recent TOI report almost 9 million people are not having any access to internet especially those in remote areas. With so many people not connected to the internet how will the government ‘s cashless dream be realized??
- Expensive Smart phones and Personal Computer being out of reach of the daily wage workers and the people living below the poverty line.
- High internet costs
- Lack of power availability and Frequent Power cuts discharge phone battery .Absence of battery recharging facility restrains the citizens from going cashless.
- Nil bank accounts held by the daily workers and people living below the poverty line.
With reasons being clear why the non tech savvy people are not willing to go tech savvy I strongly feel that financial institutions and the government will have to come to the forefront if the latter wants that the Non Tech savvy become tech savvy and go cashless
- One such way setting up agency banking in the remote areas, BPL areas with the help of fin tech companies
- Secondly help the daily workers to open accounts entitled for them such as No Frills Account , E wallet accounts,PMJY accounts
- Hold internet banking classes especially for the senior citizens and the computer illiterate and teach how to use laptops , smart phones how to do safe banking , which are the sites fit for browsing and how to know whether the site is genuine or not
- Setting up mobile and net banking kiosks in branches and remote ATMS
- Tying up with up with internet service providers to lower charges for online transactions.
- Currently while the government has launched the below schemes to help the non tech savvy
- Exempted the USSD charges of Rs 1.50 on financial transaction made on the regular phones (not the smart phones
- Launched the digital payment app called“BHIM .”This app based on the Unified User Interface (UPI).Through this app payments wimade or received from other non UPI accounts . The receiver need not have the BHIM app to transfer money
- Offers and cash back features on RuPay cards
- Launch of Jan Dhan Yojanas
- Waiving off service charges on the debit cards and online transactions.It can further pitch by
- Providing mobile battery recharge points at remote areas ,and basic power facility in remote areas.
- Launching schemes than ensures laptops and smart phone are within the purchasing power of the senior citizens and poor.similar to the laptops offered to poor in Tamil Nadu under the AMMA brand.
- Make internet connections available for everyone especially those living in the remote areas at affordable prices
- Implement stringent Cyber Security Laws
- Special mobiles and laptops for the invalids
With government providing basic amenities, infrastructure for the senior citizens and poor living remote areas,incorporating stringent cyber laws its aim of going cashless dream would become easier.
While awaiting for the above inputs come into play ,Our upcoming blog would discuss ” At the Ground Level Help Provided by the Government and Financial Institutions To Non Tech Savvy”