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- Oct 15, 2023
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The aggressive push towards cashless transactions, digital wallets and the closing of physical bank branches has turned routine errands into onerous technical tasks. When seniors must hand over passwords, OTPs or their mobile phones to their adult children or grandchildren to pay a utility or credit card bills and transfer funds, a shift occurs. It takes away the financial privacy of our elderly. A person who once managed an entire household budget may feel reduced to a state of perceived second childhood, asking for assistance to spend their own money.