Topic: Connect data to accelerate cashless payments - page 2. (Read 506 times)

This should be their focus too, on making our data safe and I think even banks are not safe from any hack since there’s already a situation where banks claims that their data are being exposed especially the credit card details. Well, this could be the consequences on rushing to adopt technology but I believe in the future they will come up into a better solution and make this technology more worth it. Digital world is growing, we’re making our transactions online most of the time and to be more safe will always depend on how we protect our data.

Cashless payment has become so popular and is gradually becoming a habit of many consumers, like last weekend I went to a market in a rural area when I saw that there were very few ATMs around, but surprisingly, the sellers there accept online payments, and the real amount is only about $2 for some fruits. I'm impressed with them because it's still a poor area and payments are mostly cash, but the way they're approaching the changes in the world is still unrestricted.

In recent years, especially after the outbreak of the disease worldwide, the shift of people to payment via Internet channels or mobile phones has increased both the number and value of transactions. In the digital age, data can be used to understand and capture customer behavior and consumption trends, helping banks and businesses identify new opportunities and make the right decisions. and improve operational efficiency. Regarding the role of data in the operation of the banking industry, connecting data will help banks gain insights into customer behavior, helping to cross-sell products. In addition, the full data connection contributes to preventing fraudulent acts, enhancing information security.

Although this is a rather small issue in terms of personal experience, it is undeniable that it is the direction of future development in the new era, what do you think about this issue? Although I know that not everywhere has enough conditions to be exposed to changes in technology, finance, new knowledge, ... but what I am paying attention to is that it is more convenient for life. In life, there are problems that will come to universalize it but over time people do think we will use less cash.

I agree that it could lead to a more convenient future, but I also wonder what trade-offs and costs we might have to pay for it. Like how do you balance the convenience of cashless payment with the potential ethical impacts such as data exploitation?

The data can be used by the payment providers, banks, businesses, and third parties for various purposes, such as marketing, profiling, targeting, or even manipulating us. Definitely read the fine print before using these cashless payment systems.

Cashless payment has become so popular and is gradually becoming a habit of many consumers, like last weekend I went to a market in a rural area when I saw that there were very few ATMs around, but surprisingly, the sellers there accept online payments, and the real amount is only about $2 for some fruits. I'm impressed with them because it's still a poor area and payments are mostly cash, but the way they're approaching the changes in the world is still unrestricted.

Although this is a rather small issue in terms of personal experience, it is undeniable that it is the direction of future development in the new era, what do you think about this issue? Although I know that not everywhere has enough conditions to be exposed to changes in technology, finance, new knowledge, ... but what I am paying attention to is that it is more convenient for life. In life, there are problems that will come to universalize it but over time people do think we will use less cash.

Cashless payment has become so popular and is gradually becoming a habit of many consumers, like last weekend I went to a market in a rural area when I saw that there were very few ATMs around, but surprisingly, the sellers there accept online payments, and the real amount is only about $2 for some fruits. I'm impressed with them because it's still a poor area and payments are mostly cash, but the way they're approaching the changes in the world is still unrestricted.

In recent years, especially after the outbreak of the disease worldwide, the shift of people to payment via Internet channels or mobile phones has increased both the number and value of transactions. In the digital age, data can be used to understand and capture customer behavior and consumption trends, helping banks and businesses identify new opportunities and make the right decisions. and improve operational efficiency. Regarding the role of data in the operation of the banking industry, connecting data will help banks gain insights into customer behavior, helping to cross-sell products. In addition, the full data connection contributes to preventing fraudulent acts, enhancing information security.

Although this is a rather small issue in terms of personal experience, it is undeniable that it is the direction of future development in the new era, what do you think about this issue? Although I know that not everywhere has enough conditions to be exposed to changes in technology, finance, new knowledge, ... but what I am paying attention to is that it is more convenient for life. In life, there are problems that will come to universalize it but over time people do think we will use less cash.

Cashless payments are common in my country, but even in big urban areas, there are places that don't accept cards. For example, there's a type of public transport where you can only pay with cash, and you mostly can only use cash at farmers' markets as well. In smaller cities, even cafes often don't accept card payments or don't have the proper devices to do that, which means you need to transfer money via online banking if you don't have cash on you. I don't use cash most of the time, especially if there are other options available, but I don't really think that cash will go away globally because the tendencies strongly depend on a country. Also, unfortunately, increased adoption of cashless payments doesn't mean increased usage of crypto payments.

Cashless payment has become so popular and is gradually becoming a habit of many consumers, like last weekend I went to a market in a rural area when I saw that there were very few ATMs around, but surprisingly, the sellers there accept online payments, and the real amount is only about $2 for some fruits. I'm impressed with them because it's still a poor area and payments are mostly cash, but the way they're approaching the changes in the world is still unrestricted.

In recent years, especially after the outbreak of the disease worldwide, the shift of people to payment via Internet channels or mobile phones has increased both the number and value of transactions. In the digital age, data can be used to understand and capture customer behavior and consumption trends, helping banks and businesses identify new opportunities and make the right decisions. and improve operational efficiency. Regarding the role of data in the operation of the banking industry, connecting data will help banks gain insights into customer behavior, helping to cross-sell products. In addition, the full data connection contributes to preventing fraudulent acts, enhancing information security.

Although this is a rather small issue in terms of personal experience, it is undeniable that it is the direction of future development in the new era, what do you think about this issue? Although I know that not everywhere has enough conditions to be exposed to changes in technology, finance, new knowledge, ... but what I am paying attention to is that it is more convenient for life. In life, there are problems that will come to universalize it but over time people do think we will use less cash.

I think it's generally make the transaction more seamless and for a customer it's better. In my country the latest payment system that is pushed by a Single QR Code, so people with different payment processor, like Bank App, Venmo-like Payment and other type can scan the same QR Code to pay for a service. But the one issue that appear is that most of merchant complaint about the fee, it makes them increase the price of their product, and it's not good for them.

For Crypto this phenomena when the government pushing digital payment for people will ease the transition to crypto, transition from a traditional cash to crypto payment will be very hard, but when the merchant familiar with digital payment they will accept crypto more easily.

Maybe it depends on the region and everyone can accept online payments, although I completely agree that the next generation of us will use more internet devices, like around where I live. A lot of people don't use the internet and they don't even understand what it is and how to pay online. Small transactions are still cash-based, and if there is no cash here, you can be said to be unfit.
Before, I moved to some big cities and it really impressed me because it was quite a long time about 5 6 years when online payment was probably too little known, but when I saw how they use It's really quick, convenient and much less risky.

Personally, I see a threat to personal security in the case of global digitalization. Data can always be available to criminals. They will know your income and plan their actions accordingly (blackmail, extortion, fraud will increase significantly). So I wouldn't get excited about the world being completely covered by cashless payments. There is always a fly in the honey.

Cashless payment has become so popular and is gradually becoming a habit of many consumers, like last weekend I went to a market in a rural area when I saw that there were very few ATMs around, but surprisingly, the sellers there accept online payments, and the real amount is only about $2 for some fruits. I'm impressed with them because it's still a poor area and payments are mostly cash, but the way they're approaching the changes in the world is still unrestricted.

In recent years, especially after the outbreak of the disease worldwide, the shift of people to payment via Internet channels or mobile phones has increased both the number and value of transactions. In the digital age, data can be used to understand and capture customer behavior and consumption trends, helping banks and businesses identify new opportunities and make the right decisions. and improve operational efficiency. Regarding the role of data in the operation of the banking industry, connecting data will help banks gain insights into customer behavior, helping to cross-sell products. In addition, the full data connection contributes to preventing fraudulent acts, enhancing information security.

Although this is a rather small issue in terms of personal experience, it is undeniable that it is the direction of future development in the new era, what do you think about this issue? Although I know that not everywhere has enough conditions to be exposed to changes in technology, finance, new knowledge, ... but what I am paying attention to is that it is more convenient for life. In life, there are problems that will come to universalize it but over time people do think we will use less cash.