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

Nur Atikah
14 May 202313:01

Summary

TLDRIn 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

  • πŸ“ The discussion revolves around the topic of a cashless society and its implications for convenience and technology use in payments.
  • πŸ’‘ The introduction highlights that a cashless society utilizes technology for transactions without the need for physical cash or checks.
  • πŸ›οΈ 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.
  • πŸ’Ό 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.
  • πŸ“² The convenience of using mobile phones for payments is emphasized, with the ability to scan QR codes making transactions faster and more efficient.
  • πŸ‘› 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.
  • πŸ”’ 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.
  • πŸ“ˆ 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.
  • πŸ”‘ 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.

Outlines

00:00

πŸ’‘ Introduction to Cashless Society

The speaker initiates a group discussion on the topic of a cashless society, explaining it as a method of payment that utilizes technology without the need for physical cash or checks. They share their personal preference for cashless payments due to the convenience of not carrying large amounts of money and the reduced risk of misplacing it. The speaker also acknowledges the challenges faced in rural areas where internet connectivity is limited, making cashless transactions impractical. They invite others to share their opinions and experiences with cashless payments.

05:02

πŸ”’ Security and Convenience of Cashless Payments

The discussion continues with participants sharing their views on the convenience of cashless payments, such as not having to remember a wallet and the ease of scanning QR codes for transactions. However, concerns are raised about the security of cashless transactions, with references to cases where money has been stolen from bank accounts. The participants also discuss the importance of cybersecurity in protecting against such thefts. There is a general consensus among the group that while cashless payments are efficient and convenient, there are still significant security concerns that need to be addressed.

10:02

πŸ›’ Adapting to a Cashless Future

In the final paragraph, the speaker reflects on the inevitability of transitioning to a cashless society, noting that some shops are already refusing cash payments and only accepting digital transactions. They acknowledge the need for change and the importance of setting spending limits when using cashless payments to avoid overspending. The speaker concludes the discussion by recognizing the diversity of opinions on cashless payments, with some preferring the simplicity of cash and others the modern convenience of digital transactions.

Mindmap

Keywords

πŸ’‘Cashless Society

A cashless society refers to a system where financial transactions are conducted electronically rather than through the use of physical currency. In the video's context, it is the main theme where participants discuss the advantages and disadvantages of a society that relies on digital payments instead of cash. For example, one participant mentions the convenience of not needing to carry cash, which is a key benefit of a cashless society.

πŸ’‘Payment Technology

Payment technology encompasses the various methods and systems used to facilitate the transfer of funds in a digital format. It is central to the discussion in the video, as participants explore how technology enables cashless transactions. The script mentions using phones to make payments, which is a common form of payment technology in a cashless society.

πŸ’‘Convenience

Convenience in this context refers to the ease and practicality of performing transactions without the need for physical cash. The video's participants highlight this as a significant advantage of cashless payments, noting that it simplifies the process of making purchases and reduces the risk of losing money, as illustrated by the participant who prefers not to carry a wallet.

πŸ’‘Rural Areas

Rural areas are regions that are characterized by a lower population density and less urban development compared to cities. In the video, a participant points out that cashless payment methods may not be as convenient in rural areas due to limited internet connectivity, which is essential for digital transactions, thus illustrating a potential drawback of a cashless society in less developed regions.

πŸ’‘Security

Security in the context of the video refers to the safety measures in place to protect financial transactions from fraud and theft. While some participants argue that cashless payments offer better security due to transaction records, others express concerns about the risks of cyber attacks and data breaches, as mentioned in the discussion about the CIMB Bank incident.

πŸ’‘QR Code

A QR code is a type of barcode that can be scanned using a smartphone to facilitate various actions, including making payments. In the video, the use of QR codes for cashless transactions is mentioned as a quick and efficient method of payment, highlighting the role of QR codes in enabling a cashless society.

πŸ’‘Forgetfulness

Forgetfulness is the inability to remember, and in the video, it is used to illustrate the inconvenience of forgetting one's wallet when using cash. Participants share personal anecdotes about forgetting their wallets and how cashless payments can mitigate this issue by relying on devices, such as smartphones, which are less likely to be forgotten.

πŸ’‘Limit Setting

Limit setting in the context of the video refers to the ability to control one's spending by setting maximum transaction amounts in cashless payment systems. A participant mentions this as a personal preference for cashless payments, as it helps them avoid overspending by setting a limit on their transactions.

πŸ’‘Cybersecurity

Cybersecurity is the practice of protecting internet-connected systems, including those used for cashless payments, from attacks and unauthorized access. The video discusses the importance of cybersecurity in ensuring the safety of cashless transactions and preventing fraud, emphasizing the need for robust security measures in a cashless society.

πŸ’‘Physical Stores

Physical stores are brick-and-mortar establishments where customers can purchase goods and services in person. The video mentions the use of cashless payment methods in physical stores, indicating a shift towards digital transactions even in traditional retail settings, and how some stores may prefer cashless transactions for efficiency.

πŸ’‘Personal Experience

Personal experience refers to the individual accounts and anecdotes shared by the participants in the video. These experiences provide insight into the practical implications of living in a cashless society, such as the challenges faced when there is no internet access, as well as the benefits of convenience and security in using cashless payments.

Highlights

Introduction to the topic of cashless society and its advantages such as ease of use without needing to carry physical cash.

Personal preference for cashless payments due to reduced risk of misplacing money.

Challenges of cashless payments in rural areas with limited internet connectivity.

Experience of needing to carry cash for industrial training in areas without internet or ATM access.

Efficiency of QR code payments for quick transactions without the need for cash or cards.

Preference for cashless due to convenience and reducing the need to remember a physical wallet.

The downside of being forgetful and sometimes not having a charged phone for cashless payments.

Discussion of the prevalence of cashless payments among students and in campus facilities.

Concerns about the security of cashless payments and instances of money disappearing from bank accounts.

The importance of cybersecurity in protecting cashless transactions from hackers and scammers.

Debates on the convenience and safety of cashless payments, with differing opinions among the group.

Examples of cashless transactions being recorded and traceable, adding a layer of security.

Observations of shops gradually adopting cashless payments and the need for adaptation by consumers.

The ability to set spending limits with cashless payments to avoid overspending.

Conclusion summarizing the diverse opinions on cashless payments and the benefits and drawbacks discussed.

Transcripts

play00:00

so hi my name is

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number is 214207

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hi my name is and my magic number is

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214891

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um

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hi my name is

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number is 2.5968

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um

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I'm fine

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um

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a lot of physical training today

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basically I forgiven this morning so I

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want to say sorry once if I equip today

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so I think we can start to step for our

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group discussion today and our topic for

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today is cashless society and we will

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discuss our effective it's so I think I

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can introduce a little bit about cases

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Society okay this Society is one one way

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of payment and use that use technology

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qualification and also not using any

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cash you know using any test not using

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any paper so usually people will pay

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using their own or maybe

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so I think I want I don't want to play I

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don't want to introduce it for too long

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so I can open for anyone they prepare to

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keep their opinion

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personally

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I will just cash this payment

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in my opinion cashless payment is more

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easier for you to use

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uh why would I say that because we don't

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need to bring a bunch of money on our

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hand or pocket and I'm not the person

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that like to bring my hand back around I

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just like

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about my dog back okay you don't when

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you use cashless cashless payment you

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you don't need to worry about misplacing

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your money around okay how about you

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Nana

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um personally I do agree with you uh

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regarding not to bring a lot of cash

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but at the same time I feel it's not too

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convenient for someone who live around

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Village or Noble rural area because not

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every places that have

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um what do you say not every places have

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uh

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not heavy places has internet connection

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yes so when you are going to pay using

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your cashless method for example like

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debit card or

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foreign

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it's kind of not suitable uh at those

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places and those environments so foreign

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[Music]

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for my

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industrial training and to be honest I

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have to bring a lot of money there so I

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prepare around 500 to survive for two

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months because there is no internet

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connection and ATM is

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sixth hour from My Places yeah yeah so

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it's quite far so it's really hard for

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me

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that's why I don't I don't like the

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questions mated because my place is not

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supported by one point in technical

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Nation it doesn't have internet for

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so

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then let's get high

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okay in my opinion uh

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testing payment because

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for my experience

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paper we don't have to make a lot of

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money so we just can scan the QR code at

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the uh

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counter and just be more faster than uh

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cash so uh

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for example uh when we when we use a

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cashless payment we don't have to bring

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our back like this now so uh we don't

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have to bring uh and anything else just

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bring our phone and phone uh we can just

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uh

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bring uh

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and put it in our pocket and when when

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we want to use we just take out our mode

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and just scan so at that time we we can

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save our time and

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so what about

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so personally I prefer cashless because

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so every time when I go out I forget to

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bring my wallet and if I bring my wallet

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I forget where I put my wallet

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so after I bake then I just got into my

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car and then oh my God my wallet where

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is it

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but

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since I forgetful person sometimes

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forget to charge my flip so when I want

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to play

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inconvenience yeah I think that's one of

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the YouTube

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independent needs

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I couldn't help anymore we everything

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all of your operating I think we are

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almost everyone uh only the same place

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because actually I also have quite a lot

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of experience and also a lot of what we

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say personal experience because

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especially like us we are famous student

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and I could say that you've been already

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used the tasteless Society using their

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caseless payment for a long time if we

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go to the cafeteria or videos to

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anywhere usually

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yeah

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and sometimes people also using

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relationship like many machines there is

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also using the QR they don't want to use

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HD anymore

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so actually uh I think maybe I think

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maybe anyone uh anyone can add one more

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but guys I don't know

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in our college right now they have cases

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like people care yeah

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yeah so why not we encourage people to

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use cashless money because it will save

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us and not only that when when do you

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sketch this money because

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gamer and hacker will will try to steal

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your that information but with the

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security

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uh

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yeah

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okay

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cyber security okay and then we'll then

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we'll make hacker or scammer hard to

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take your money from your bank

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[Music]

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regarding the occasions is more

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efficient it's more convenient for

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people that ask for students but in

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terms of safety I kind of very disagree

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because

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um I don't know if you have heard the

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cases about CIMB Bank where is your

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money suddenly disappeared there is a

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lot of CMB Bank users like us they lost

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their money in the blink of oil for

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example for example

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when you are shopping online or

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sometimes you are shopping at the

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physical store when you tap there is

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some

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what do you see from Storage need to

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some people you need to use the pin yes

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then sometimes the the

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putting something at the

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delicious

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some people they put something on the

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questions they can take all your

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information and then when you

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accidentally

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[Music]

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so for me the security for the cashless

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is quite not

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obviously

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not too much

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but there is a lot of places even when

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even if we can trace the money

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is really high yeah

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there's a lot of the cases are kind of

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feedback

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uh which is uh she said uh

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she always forgot about uh

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bring my wallet and and just uh put

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there at the counter and don't forget to

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yeah

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so I think uh

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because he

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uh program about the

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project so for me if we use cashless

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payment

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we have a great security because uh

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donations are recorded and can be easily

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the case and it's yeah because we as

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human we can we we always remember that

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our phone is our priority right

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um compared to money so when we just uh

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always uh bring our food so we don't

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have to

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bring our money to

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when when we want to buy something at

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store or physical

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[Music]

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because sometimes they obviously they

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don't want to use they are good because

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I think they say they feel and see using

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it but I think it's slowly getting to

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them because

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sometimes I'm not I think are there some

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shop that grateful cashless and they

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don't provide any cash anymore so

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um

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they like it or not I think they need to

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start to change

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I think this quite a long time I think

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everyone already shared your opinion so

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I want to open for anyone that I want to

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conclude these discussion

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[Music]

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I think everyone have their own opinion

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on their own children with shoes

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so maybe some of you would prefer to use

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cashless but some of you will prefer the

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simple cash

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but like I said I would prefer cashless

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because

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when I use cashless payment I can set

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the limit

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so I will not over the limit

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so

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exciting uh this is

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good discussion today I think that's it

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for today and thank you for this

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everyone thank you all

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Related Tags
Cashless SocietyDigital PaymentsConvenienceSecurity ConcernsPersonal StoriesGroup DiscussionTechnology ImpactFinancial SecurityCyber ThreatsPayment Methods