LPE 2403 Group Discussion Task 1 (GROUP 1) THEME 2

Summary

In this group discussion, participants explore the pros and cons of a cashless society. They highlight the convenience of cashless payments, such as not needing to carry physical money and the ease of transactions using mobile devices. However, concerns are raised about the accessibility in rural areas and the potential security risks of digital transactions. The conversation also touches on the need for improved cybersecurity to protect users' financial information and the gradual shift towards a cashless economy, with some businesses already refusing cash payments.

Takeaways

• 📝 The discussion revolves around the topic of a cashless society and its implications for convenience and technology use in payments.
• 💡 The introduction highlights that a cashless society utilizes technology for transactions without the need for physical cash or checks.
• 🛍️ Participants share personal experiences of preferring cashless payments for their ease and convenience, especially when they don't want to carry money around.
• 🏞️ A concern is raised about the accessibility of cashless payments in rural areas where internet connectivity might be limited, making it less convenient for some individuals.
• 💼 One participant mentions the need to carry a significant amount of cash during industrial training due to the lack of internet and ATMs, illustrating the necessity of cash in certain situations.
• 📲 The convenience of using mobile phones for payments is emphasized, with the ability to scan QR codes making transactions faster and more efficient.
• 👛 The issue of forgetfulness when it comes to carrying wallets is discussed, with cashless payments being a solution for those who often misplace their wallets.
• 🔒 There's a debate on the security of cashless payments, with some participants expressing concerns about cyber threats and the safety of their funds, while others believe in the security measures that come with digital transactions.
• 🏦 A specific case of a bank where customers lost money is mentioned, underscoring the potential risks associated with digital transactions and the need for robust cybersecurity.
• 📈 The script notes that while cashless payments are becoming more common, especially among students, there is still a preference for cash in certain situations, such as when using card machines.
• 🔑 The conclusion suggests that personal preference plays a significant role in choosing between cash and cashless payments, with the ability to set spending limits being a notable advantage of cashless methods.

Q & A

What is the main topic of the group discussion in the script?

The main topic of the group discussion is 'cashless society' and its effectiveness.

What does the speaker suggest about cashless payment in their opinion?

The speaker suggests that cashless payment is more convenient because it eliminates the need to carry physical cash and reduces the risk of misplacing money.

What concern does Nana express regarding cashless payment in rural areas?

Nana expresses concern that cashless payment might not be convenient for those living in rural areas where there is limited or no internet connection, making it difficult to use electronic payment methods.

What personal experience does the speaker share about their industrial training and cash?

The speaker shares that during their industrial training, they had to bring a significant amount of cash because there was no internet connection or ATM nearby, which was inconvenient.

How does the speaker describe the convenience of QR code payments?

The speaker describes QR code payments as faster and more convenient than cash, as it only requires scanning a code with a phone, eliminating the need to carry a wallet.

What issue does the speaker mention about being forgetful with their wallet?

The speaker mentions that they often forget their wallet when going out, which leads to inconvenience when they need to make a payment.

What is the speaker's view on the security of cashless payments?

The speaker believes that cashless payments have good security because transactions are recorded and can be traced, making it harder for hackers or scammers to steal money.

What concern does another participant express about the safety of cashless payments?

The participant expresses concern about the safety of cashless payments, citing cases where people's money disappeared from their accounts, possibly due to security breaches or scams.

How does the speaker suggest that cashless payments could help with budgeting?

The speaker suggests that cashless payments can help with budgeting by setting limits, preventing overspending.

What observation does the speaker make about the adoption of cashless payments in society?

The speaker observes that many places, including their college, are encouraging the use of cashless payments, and some shops no longer accept cash, indicating a shift towards a cashless society.

What conclusion does the speaker draw about the group's opinion on cashless payments?

The speaker concludes that everyone has their own opinion on cashless payments, with some preferring the convenience of cashless while others prefer the simplicity of cash.