Isn't it easy to use cashless payment?

Around 20 years ago, our only finance options were services supplied through counters, whether it was through banks, government institutions of departments, or commercial businesses.

Everything we used to do, like for example pay utility bills at the post office has changed over time. We no longer need to go to an ATM to withdraw cash or switch to a third account; instead, we can accomplish it all with a few clicks.

Nowadays, everything requires an app on a mobile device, eliminating the need for lengthy lines or dealing with certain operation days and hours.

The procedure of getting in line at the bank, receiving a number, and withdrawing tiny coins from your pocket to pay at the counter will only be a memory behind the presence of simpler and time-saving methods.

Various applications that provide online payment methods are now a necessity for almost everyone in this country. The important thing is that there is money in the account.

Therefore, to move our nation closer to a totally digital system, it is best to support the government's plan to implement a cashless system.

Given the likelihood of cash transactions becoming compromised due to past experiences, it is only natural that we would prefer secure transactions in the modern era over cash purchases.

Digital transactions also include several security levels, biometric authentication, and fraud detection tools, such as two-step detection, which successfully safeguards financial information.

As previously reported, studies have found that contactless payment is the most preferred payment method by Malaysians for categories such as supermarkets and retail purchases.

These days, practically everyone in this country requires one of the several applications that offer online payment solutions. The account's balance being present is what matters.

Therefore, the move by some state governments to urge small traders to do business without cash to avoid becoming victims, especially the use of fake cash by irresponsible parties, needs to be supported.

There are many benefits if we practice a cashless system and QR code payment, among which traders can reduce the risk of being exposed to counterfeit money.

On Sunday Sinar had reported a survey conducted among small traders admitting to having received fake banknotes from customers and that it is alleged to be more prevalent after the Covid-19 pandemic.

The activity of certain individuals using counterfeit money when making payments is indeed difficult to detect not only among small traders, but also the public itself.

So, to reduce the risk, cashless transactions should be an option for our entrepreneurs.

We must practise using current technology and expand the number of go cashless promotions. Make purchasing and selling easier while also avoiding being scammed with counterfeit cash.

However, cyber and digital security must be a top priority for the government in order to ensure that the present system is free of fraud.

Therefore, regardless of whether we pay with a card or an application, the account owner is in charge and needs to be alert about the risk of falling prey to virtual technology that is supposed to make life easier.