Question

Discussion 2 - What COVID-19 means for the future of commerce, capitalism, and cash

1. Do you believe that less traditional payment systems such as PayPal should be utilized in lieu of traditional payment systems? Provide examples for your argument.

2. Since PayPal is a payment intermediary and not regulated directly, there is a greater propensity for online fraud. Amidst being subject to some of the rules and regulations governing the financial industry including Regulation E should further restrictions be put in place for consumer protection? Why or Why not?

Answer 1

1. Somebody with COVID-19 hands a clerk their Mastercard. The exchange is prepared. You're straightaway. At the point when the clerk gives you your charge card back, it might have viral issue spread on top of it.

At that point there's the ATM touchscreen. Charge cards. POS terminals with keypads and pointer pens. The folio in the café with your bill, and the pen they offer you to sign the check.

Our out of date installments framework wasn't prepared for the computerized time, and it is even less ready for an infectious pandemic. In the ordinary day, somebody may make about six installments — Starbucks, the service station, lunch, cleaners, supermarket, cafés, and so forth. In any case, there is basically no conventional installment system that doesn't uncover the two players — the payer and payee — to the danger of a COVID-19 contamination.

A large number of exchanges each day. A great many chances to spread everything from the normal cold and flu to more genuine ailments … like the lethal Covid.

2. Yes, there must be rules and regulations because the chance of theft increases in online transactions. In South Asian Countries, Many poor people have been cheated on through online transactions so yes there must be sme rules and regulations to be goverened by the authority.