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14 Aug 2019
Movement for change
Suggestion View - 110
Tracking of digital payment

Some people do not like digital payment because of the risk that the payment can be tracked. 

I find this fear to be unjustified, for the following reasons:

a) Payment by credit card or bank transfers are already tracked.

b) Cashless payments, e.g. using e-wallets are for small amounts. The state is not interested in small transactions by ordinary citizens. It is a different matter for criminals and terrorists.

c) Cashless payments can also be anonymous, i.e. there is no identity of the payer.

d) Many countries have move far ahead on the use of cashless payments. Their citizens do not seem to face any risk of being tracked.

e) Some people are worried that the digital money could be lost. The same risk exists with paper money as well.

I cannot understand the reluctance of some people to move to cashless payments, and the ridiculous excuses that they put forward. It is an example of a society being quite backward. It is rather disappointing.

Perhaps the real reason is that it does not cost them any fee to take cash  out of ATM machines. Maybe, they will change their mind when there is a fee imposed for ATM withdrawals.

I hope that people in Singapore take the step to adopt cashless payments. We cannot continue to be inefficient, costly and backward.

Tan Kin Lian 

Vote - do you agree that the fear of tracking of digital payments is overblown?

Tan Kin Lian

Vote - do you agree  


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