One of the issue with cashless is that banks/financial service provided making money of of the money i.e. $100 making more than $100 with out adding any real value in fees (100 time circulation). I know time is money in most western countries but my place we do one crop a year and sit idle for 9 months. So time is not a money and we would rather give cash to a person get that much worth of a product.
E.g. My sons school charges 2% extra if i use credit card, Rs 20 if i use netbank and does not accept cash. So on a Saturday i am happy pay in cash when i have nothing else to do.
Unless government makes the transfer without fee (now they can print less money and that cost can be used for this infra of transfer), why is cashless better in the scenario where that saved time is not used for anything value generating?
Genuinely looking for answers to this that makes sense rather than saying time is money.
E.g. My sons school charges 2% extra if i use credit card, Rs 20 if i use netbank and does not accept cash. So on a Saturday i am happy pay in cash when i have nothing else to do.
Unless government makes the transfer without fee (now they can print less money and that cost can be used for this infra of transfer), why is cashless better in the scenario where that saved time is not used for anything value generating?
Genuinely looking for answers to this that makes sense rather than saying time is money.