Faulty card swiping machines turning down people’s basic need
ATM and Debit Cards as a medium of cashless-economy. Image Credits: www.datatechti.com
In India, many switched to plastic money after the Prime Minister’s demonetization drive has started feeling the pinch in the name of cashless-economy.
After the announcement of demonetization by Prime Minister Narendra Modi on 8th of November 2016, the immediate impact was long queues in front of Banks and ATM’s. Small scale shopkeepers, workers in unorganized sectors and even small business found it difficult to cope. The move expected some temporary problems acknowledged by the Prime Minister in the time of announcement. But the main problem occurred when people relied on cashless economy and produced their debit and ATM cards to multiplex, restaurants, hotels and even hospitals to pay online Transactions were refused and after the amount got debited from their account due to faulty card swiping machines.
When citizens of India continued to suffer the effects of demonetization which includes no cash in the ATM’s, availability of only 2000 rupees note and queues in ATM’s and banks were growing longer is the time when people started depending on online banking and cashless economy.
But due to old, poorly maintained and faulty card swiping machine, people are facing huge problems as most of the time either the transactions are declined or the amount gets debited from the account, still the machine shows transaction is rejected.
Mr. Mihir while shopping in Bangalore’s Garuda Mall Westside said “I have bought a pair of jeans and they swiped my card twice as the transaction details on their machine showed declined, but later I got two text messages from my bank saying that the amount got debited twice.”
“I belong from a middle class family and in this period of demonetization we have limited cash and if cashless system is not proper then it is very difficult for us to sustain. Government should take a look at the maintenance of these card swiping machines on which most people are dependent on nowadays and it is also necessary to make India cash free country,” said Mr. Mihir.
Mrs. Seema, a resident in Jayanagar 9th Block said “ I went to buy some medicines for my husband, but when I reached the cash counter to pay, they informed me that the machine isn’t working and I searched the ATM’s, there were only 2000 rupees note and I didn’t had that much cash in my account. So I had to return back home without buying the medicines.”
According to Banks, the supply of card swiping machine is very less in this period of demonetization. It has a demand of around 1300 card swiping machine in a month but it had a supply of only 900 machines from Canada and China.