The Punjab government has ordered a shift toward digital payments, directing businesses across the province to adopt cashless transaction systems through QR codes and Raast.
The directive has been issued to all deputy commissioners to ensure implementation of digital payment systems at the district level, signaling a major move toward a cashless economy.
The decision makes it mandatory for businesses, traders, and retailers to display QR codes to facilitate digital transactions.
Under the new instructions, payments will increasingly be processed through digital channels instead of cash, to improve transparency and ease of transactions.
Officials stated that the move toward a cashless system will help enhance public convenience while also strengthening accountability in financial dealings. Special focus has been placed on petrol pumps, where immediate implementation of digital payment systems has been ordered.
According to the directive, petrol pumps must ensure both QR code-based payments and mobile payment options for customers. In addition, the issuance of petrol pump licenses has been linked to compliance with digital systems, with online booking and digital payment capabilities made a requirement.
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This is exactly the start of doom. This stuff is gonna happen in Europe first and will be implemented all over the world. Everything will be in their control if cash disappears.
Like restaurants, there should be discount on digital payments, only them people will adapt it. Digital payment will enable to know the actual spending of people and actual sale of business and data will support tax evasion.
These haphazard implementations will face tough resistance so long as govt. refuses to make all it’s transactions digital and public. When that happens everything will follow
The problem with cashless transaction is that the transaction charges remain above 0.8% of the transaction value so it is not implementable unless they are completely waived off for cashless economy. In fuel station margins are 8.64 minus the license fee minus the 12% income tax deducted at source. So the 0.8% of the 260 rupees per liter means the fuel station is earning less than 4.5 rupees earning even less.