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Developing technology produces diverse innovations to facilitate people just like cashless transaction that can be done with our phones. In line with campaign by Bank Indonesia, this culture where everyone does not need to carry cash with them everywhere actually has its own pros and cons.
For practical reasons, cashless transaction surely make people easier especially those who prefer to not bring a lot of money to do some transactions. But, the convenience some time makes people falling to a consumptive lifestyle. Within a minute, various transactions can be done – from paying bills, buying foods and any favourite drinks, online shopping, transportations even applying for loans – through your phones.
In Indonesia itself, there are bunch digital platform provide digital wallets (for non-cash transactions) including OVO, GoPay, DANA, LinkAja and so forth. They also provide many tempting promotions which successfully make people eager to purchase things they like.
It is unfortunate that non-cash transactions very dependent on signal and battery. If the signal is unstable or your phones are running out of batteries, you will have difficulty making any transaction using those digital wallets.
You also need to look up cyber criminals attempting to crack passwords, either you do not routinely change all of your passwords or simply connect to public internet (WiFi) networks. But, you can calm yourself down, because those provides have standard environment and network to secure your data.
Hence, as a smart user, you also need to pay attention to follow these basic security system including not using birthday or repetitive numbers, changing all passwords routinely, not telling others the OTP while verifying any transaction also checking balances and transaction periodically. With the exception of all pros and cons, providing cash is still useful because you need to pay your favourite food and drinks on the sidewalk cash.