26th August 2020, Kathmandu
Nepal undergoes yet another phase of lockdown to prevent the fast-growing coronavirus. We are all staying home and avoiding social gatherings. Right now, health and survival are our top priority. Many of us have stored food items to sustain ourselves during this uncertain lockdown.
Eventually, people will run out of stock food and reserve cash. This will make life even more difficult.
Coronavirus from physical cash
Most of us still use physical cash to barter our needs. The cash that we accept from strangers has the potential of carrying coronavirus in them. This can also mean that while we exchange cash, we might also transfer or infect ourselves with coronavirus. WHO themselves urge us to use digital transactions rather than cash transactions to prevent the spread of corona infection.
Digital Cash: QR Payment
QR scan and pay in Nepal is quite popular among young people. It’s digital, simple, and most importantly safe. In a QR payment, there is no exchange of physical cash.
Had QRs been properly formulated, groceries and necessity items could be bought and sold without the fear of corona through cash.
The good news is some of us can rely on digital payments to some extent. The sad news is that many Nepalese are unaware of QR or were reluctant before corona. This makes them unprepared and unable to transact digitally today at the time of crisis.
Lockdown and Banking
There is a contrast with the government rules and practicality. We are under strict orders to not participate in any outdoor activities. Yet, we need our basic requirements and banks are opening limited branches for limited hours every day. Despite having QR facilities and despite the heavy #GoDigital campaigns, we are still risking lives to withdraw cash from banks.
Does this mean that our digital transformation hasn’t been proper yet? Are we not ready to go cashless right away?
What are your thoughts regarding this issue? Are we not ready for a digital transformation?
Do we have to wait for coronavirus to end to prepare for a Digital Nepal?
Share your thoughts!
Suggested Reads:
- NIC Asia Capital Website Defaced?
- How To Open an Online Account For Machhapuchchhre Bank
- How To Open an Online Account For Sunrise Bank
- List of Base Rates of Commercial Banks in Nepal
