Digital Or Cash Payments?

Discussion in 'Payment Methods' started by luckycharm, Aug 2, 2017.

  1. luckycharm

    luckycharmActive Member

    Joined:
    Oct 5, 2016
    Messages:
    461
    Likes Received:
    123
    I rarely use cards and online methods to pay for goods and services. I use them only when they are mandatory to do so; like in online shopping I have no other option and COD (Cash on Delivery) is not available in our area. The main thing why I am reluctant to do digital payment is that I spend more money when I use it. But if I pay through hard cash I tend to spend less. In our country digital payment methods are getting encouraged by all.

    I know digital system is easier and traceable I use cash most of the time. How about you?
     
  2. NicholasMukuha

    Joined:
    Jul 31, 2017
    Messages:
    56
    Likes Received:
    11
    If I had a crown in my hand, I would proudly place it on digital payment's head and kiss his feet. This is why. In Kenya for instance, we there is a digital transaction method we call m-pesa. It transacts over Ksh. 15 billion on a daily basis. One reason I like this platform is that it's saved us from carrying bundles of cash around which is in itself very risky. If you don't lose the money, the possibility of falling prey to pickpockets, con men or even armed robbers is not negligible.

    Another thing, now with most digital transactions, the service provider can offer you a statement of all transactions within the requested period. This helps keep track of your spending habits which can allow you to improve your financial discipline.

    The only advantage cash payments have over digital payments is that any one can use it without requiring special registrations. It's also good where anonymity is required, but I don't see any reason to hide details if a transaction is legit. Thank you.
     
  3. morgoodie

    morgoodieActive Member

    Joined:
    Jan 26, 2016
    Messages:
    460
    Likes Received:
    131
    I do a lot of shopping online and use PayPal or my debit card so I can only spend so much money at a time. If it isn't in my account, then I can't spend it. Using a credit card makes it so much easier to overspend which is why I refuse to have them. I prefer my debit card since it is just like using cash. Digital payments are so popular because they are so much easier and take less time to do transactions. I think one day everything is going to go digital and we won't have cash to keep track of anymore.
     
  4. Kimika

    KimikaMember

    Joined:
    Jul 20, 2017
    Messages:
    51
    Likes Received:
    13
    I use cash most of the time, I only use digital payment if there's no other choice. I do shop online and if they have an option for COD then I would pick that one. I just feel a lot safer paying cash than digital, at least I don't get my information stolen by crooks.
     
  5. larryl332

    larryl332Active Member

    Joined:
    Oct 31, 2016
    Messages:
    625
    Likes Received:
    55
    Digital payments still do seem a little strange to me, but they are getting more and more commonplace so I am starting to become more used to using them. It might take a little more time, though.
     
  6. Zero

    ZeroActive Member

    Joined:
    May 3, 2017
    Messages:
    184
    Likes Received:
    12
    Well digital payments have gotten pretty popular over the last few years, i use them quite often since they are convenient and are easy to use.
     
  7. TheOtherSide

    Joined:
    Jul 29, 2017
    Messages:
    39
    Likes Received:
    14
    I still prefer using cold cash as payment over e-cash or digital cash because it's more practical and convenient to use. Whilst in digital cash, there are lots of things to consider like internet security, tracking and hacking matters, fraudulent transactions and many others. Plus you have to have an internet connection to be able to access your funds or a phone for that matter.
     
  8. Rossy

    RossyMember

    Joined:
    Jul 26, 2017
    Messages:
    36
    Likes Received:
    12
    I don't like carrying cash around with me. It is very easy to lose cash or get stolen from. On the other hand credit cards are safer to carry around. You could lose them and still have your money. Carrying your credit card means accessing any amount of your money at any time. A credit card is also less bulky compared to cash.
     
  9. Pravish

    PravishMember

    Joined:
    Jun 14, 2017
    Messages:
    36
    Likes Received:
    5
    I have always been a fan of digital payments simply because it's so convenient unlike cash, which you have to take care all the time and do not miss the coins which keep jingling in your pocket until you reach home and put them in your jar. I keep a minimum amount of cash in my wallet to get home just in case my digital option does not work or if it is lost. If you have the cash there may be a risk of you being robbed or your wallet being stolen or simply just forgetting your wallet somewhere. If cash is lost you it is difficult to get it back as it does not have your name on it, but if your debit/credit or any other form of digital payment method is lost or stolen, you may immediately block it and your money is secure. It is simple safe and secure.
     
  10. overcast

    overcastActive Member

    Joined:
    Jun 29, 2017
    Messages:
    146
    Likes Received:
    6
    These days I try to pay most of the time through digital means. And I try to avoid the cash payment. This way I am saving more money. And I tend to have more cash in my wallet. You can see that in some of the cases digital cash may make you spend more. So always avoid using the debit or credit card. And instead use the wallet balance for shopping online.
     
  11. Heatman

    HeatmanMember

    Joined:
    Aug 9, 2017
    Messages:
    26
    Likes Received:
    3
    I prefer cash payments for my shopping but I do digital payment only in times of emergency if I accidentally run out of cash. Also in my country Nigeria, most people don't really fancy digital payment of goods and services.

    Here, sellers prefer cash payments of items bought. Some businesses might have POS but they really won't have it to be functional. Their reason sometimes is that people are fraudulent in nature, so they don't believe in digital figures because it can be manipulated.

    Cash payments are less stressful for me because there are sometimes banking networks would be unavailable making it impossible for you to complete your transaction, thereby disappointing you and frustrating your days program.
     
  12. Shine_Spirit

    Shine_SpiritActive Member

    Joined:
    Jan 30, 2017
    Messages:
    521
    Likes Received:
    74
    I like and use both options, but I think the digital payment is safer because you do not need to use the printed money. It's fast and practical. ;)
     
  13. jakubMember

    Joined:
    Aug 2, 2017
    Messages:
    45
    Likes Received:
    5
    Well of course they are far more practical and are much faster to use and safer as well, but you should always be careful.
     
  14. Shine_Spirit

    Shine_SpiritActive Member

    Joined:
    Jan 30, 2017
    Messages:
    521
    Likes Received:
    74
    When talking about online transactions, "security" is a keyword that must always come first. Before finalizing any purchase, you must check the veracity of the sites.
     
  15. FrfrNew Member

    Joined:
    Sunday
    Messages:
    2
    Likes Received:
    0
    Heyy! I just made an order with credit but the order stucked at verification 2 days now, finally i wanted to cancel cuz the site is in US and i live in europe so the taxes are high as i checked. The point is that there is no cancel button and at the official site says that u can cancel ur order before it shipped out and they havent inform via email not even with tracking code... i really want to cancel and take money back but the damn cancel button isnt there any ideas?
     
  16. kaka135

    kaka135Active Member

    Joined:
    Mar 4, 2017
    Messages:
    205
    Likes Received:
    46
    As much as possible, I will use my credit card to pay, unless credit card is not available at the store. There are still many places we have to use cash here. If I am doing online purchase, I would prefer to pay by PayPal if it's available. Some online stores may not have PayPal option, hence I have to choose to pay by credit card or bank transfer. Paying by cash is always my last choice.
     
  17. Zero

    ZeroActive Member

    Joined:
    May 3, 2017
    Messages:
    184
    Likes Received:
    12
    Unlike you kaka i only use my credit card for large purchases or when i'm short for money, otherwise i use my debit card for everything.