Community POS
The present demonitisation drive expects people to go cashless in future. The country is flooded with Aadhar number, Smart phones, Wallets, Apps and POS to enable reaching to a cash less economics in future. The real problem lies at not that people are not interested to go cashless but the sellers and commercial establishments are not interested in receiving payment in cashless mode. Further, there is dearth of such hardware in villages which can enable cashless activation. So in this juncture, I would suggest the following.
1. To have at least one community POS in every village, where people can receive and send payment in cashless mode.
2. Make possession of POS and/or other mode of accepting cashless payment mandatory for all shop and commercial establishment.
3. A national helpline to assist people who run into difficulty in making cashless payments.
4. A learning initiative for small traders for cashless economy and direct/indirect tax related issues.
5. To make computation and reporting of income easy for businessmen earning up to 15 Lakhs PA, so that they are able to file their income tax return without help of tax consultants.
More suggestions are invited. more
1. To have at least one community POS in every village, where people can receive and send payment in cashless mode.
2. Make possession of POS and/or other mode of accepting cashless payment mandatory for all shop and commercial establishment.
3. A national helpline to assist people who run into difficulty in making cashless payments.
4. A learning initiative for small traders for cashless economy and direct/indirect tax related issues.
5. To make computation and reporting of income easy for businessmen earning up to 15 Lakhs PA, so that they are able to file their income tax return without help of tax consultants.
More suggestions are invited. more
Viewed by 151
The shopkeepers do not accept e money more as they can not keep all the different means provided for that and would perhaps also be scared of being taxed or service charges levied by the providers fo the e-maney. If bank transaction tax as single income tax is levied and surcharge for service by banks are totally eliminated (they save as no human is needed to perform the transaction, anyway), I am sure even the village bazar person will adopt very quickly. more
Dec 11
Good idea, with some education and efforts it will catch faster in remote areas, as they will be more secure by not handling much cash and able to come to mainstream of banking and get better exposure to world too... lets find ways to promote more of it and educate people too more
Dec 11
Good idea. The problem is hassles and understanding of the technicalities of the cashless payment at village level and small time traders. My view is that at village level the Ppanchayats should be empowered to do Banking services. Earlier when there was an acute shortage of coins, shop keepers used to give slips which was recognized as legal tender at local level. Similar such systems should be introduced to be monitored by the panchayts or by some local co-operative association. more
Dec 11
The main problem is that small shops and service providers are not willing to accept any form of digital payment they rather insist only cash payment. They seem to fear hassles in getting their payments and tax implications. more
Dec 11
If memory serves me right, machalioatnam smnall market already has a communiti POS for use of the market. Making POS compulsory is utopian idea. The reason is there there are many ways of cashless transactions but they are not accesible from same instrument. So the need is to make a common instrument that can handle the credit/debit cards, Adhar payments/UPIs, SSDI and mobile wallets, preferably as an app which with an attachemnt to the cell phone can also use the swiping of cards. Till this is done there is no compelling traders. Even after this is done it might not be practical to make this compulsory, because then we will become an authoritarian state, which certainly the Government has no wish to do. more
Dec 10
