Srinagar- In recent years, there has been an increase in the integration of technology with the daily life of people. Kashmir like any other place has not lagged behind and kept pace with technology.
In urban pockets of Kashmir, transactions are shifting from cash payments to digital payments catering to the needs of people.
Street Vendors, who mostly cater to the demands of low income families, have equipped themselves to accept digital payments using UPI QR codes.
Musaib Ahmed, in his early 20’s sells homemade pickles outside Hazratbal Shrine in the outskirts of the city.
He has been in this business for around a year. In order to keep pace with time, Musaib started to take payments online.
“It has been around five months that I have started to accept digital payments using UPI QR codes. It has proven useful and mostly young people transfer money online” he says.
Abdul Majeed, another vendor, says that online payments are better and prove beneficial at times.
“Sometimes people need to make a payment of Rs 10 and they don’t have loose change, so they go for an online payment. It helps us retain a customer” Majeed said.
However, amid the sweeping change, there is a concern of mischief. It has been alleged that some in the garb of using technology plot resort to loot and plunder.
Adil Baba, who sells fruits on his cart has been a victim of online fraud.
“There are times when a fraudster comes and says he will make a payment online, he ends up paying nothing” Adil said.
However, these aren’t the only issues creating hurdles in the way for a cashless economy. Experts say, Kashmir has a long way to go for a cashless future.
Even though there are many street vendors in the summer capital who use the digital payment system, there are many who are hesitant to use online payments because of illiteracy and fear of losing money.
It is pertinent to mention, vendors in India constitute around 11% urban workforce.
It is estimated that around 10 million vendors are adapting to the changes in consumer payment methods.
In the financial year 2016, 5% vendors used online payment platforms, which increased to 15% of vendors in the FY2021 and it increased to 20% in FY2022.
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