Going Cashless: Virtual Cards, eCurrencies

It's no longer news that youths and businessmen around the world all seek a life of early retirement. Taking vacations in the Hamptons, celebrating birthdays in Dubai, Hawaii and The Bahamas. We all know how hard it is to achieve that sort of dream when one is practically locked in front of a desk in an office for hours daily and fully dependent on a weekly or monthly paycheck.entrpreneurhip kicks in.

Making money online is a reality that comes with the cashless policy of recent times. Why get an 8 to 5 job in a cubicle that pays about $250 monthly when you can comfortably make about $500 a week online legitimately, tax free?

In advanced and developing countries, where goods and services are paid for virtually through the use of credit cards, one's source of income may widely vary. In America for example one can get paid for mowing a neighbour's garden, babysitting for a couple of hours, collecting tips after serving in a bar or restaurants, even valets get paid for carrying luggages or parking cars at an event. So many gigs to get the green back. All these are paid for in cash. Anyway they later get converted by paying for credit cards bills to sustain their card limits which are in turn used to pay one's utility bills and also for purchasing gasoline, groceries, etc via PoS terminals.

However, the use of money cards also supercede domestic uses as they can be used to purchase goods and services online via ebay, amazon, etc. The emergence of online stores in Lagos where the cashless policy kicked off in Nigeria. Debit and Credit cards, Verve, Visa and Mastercards are used widely in purchases at malls, airports, cinemas, restaurants. 

Paypal, Webmoney, PerfectMoney, Payza Bitcoin, Netteller, Skrill are also other forms of money online. They can be used to pay for goods and services. They are widely accepted too.

With the online services rendered by GTB, Zenith Bank, UBA, First Bank, Mainstreet Bank, EcoBank, Diamond Bank and so on, the cashless policy seems to be working well for both sellers and customers. I could unload the benefits of online transactions in several paragraphs and forget about the idea behind this post. For the enormous number of traders online and offline, who earn steady 5 or 6 digit incomes weekly or monthly, the idea of online transactions and use of ATM cards matter alot.

Funding with ATM cards are very fast. The cashless policy is a quickie, save that transport fare to an agent's shop or the bank and simply use your ATM card to transfer money to any account in Nigeria. They are all secure but the OTP feature seems to make the Visa cards the most secure.


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