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Digital Payments

Digital Payments,


Both credit and debit cards looks alike with 16-digit card numbers,expiration dates and PIN codes.But they work different from each other. How does a credit card work? Credit card allows the card holder to borrow money upto a ceretain limit from the card issuer for the purchase of any item or for payment purposes and many more.Credit cards generally work with the signature of the card holder.Credit cards are issued as either standard cards(extend the

Digital Payments,


Would INDIA really become a cashless economy or is this sudden boom in the usage of various forms of cashless transactions just an option until the regularization of money supply in the economy? According to SBI chief, Arundhati Bhattacharya India would restore to its original self after February tentatively as there would be sufficient money supply. She also confirmed that cashless modes of money transfer is being used since the residents of the country are

Digital Payments,


Demonetization has brought about a change regarding cashless transactions.There are various states of India which have taken a lot of efforts to meet up to the current scenario in the country.The various‚Äč forms of e-payments which were not used by the majority by the people has now become the most frequent modes of payments. UTTAR PRADESH ON CASHLESS TRANSACTION: Uttar Pradesh being one of the rural states in India has made a great progress regrading

BHIM - India
Digital Payments,


BHIM-BHARAT INTERFACE FOR MONEY The BHIM is a mobile wallet.It was launched by the Prime Minister Narendra Modi on 30th December 2016.This app is launched to promote digital transaction. This app takes on the likes of paytm,mobikwik,freecharge and other mobile payment apps which have gained recent popularity on account of the recent demonitization status of the country.This newly launhed app is to reduce the useage of plastic cards and Poit of Sale(pos) machines. BHIM eliminates the

Digital Payments,

Paytm Wallet and Tamil Nadu on cashless transactions

Paytm Wallet Paytm is an e-commerce company. Their initial services were mobile recharge and utility based payments. Now they have a widened their usage to a full market place. Mobile wallet store money and it is used in place of debit and credit cards, net banking. The RESERVE BANK OF INDIA has set a monthly basic limit of a maximum amount of 10,000 rupees per month, for upgradation to 1,00,000 rupees the account must be

Digital Payments,

Digital Incentive scheme – Lucky Grahak Yojana

Lucky Grahak Yojana and Digi-Dhan vyapar Yojana – Digital Incentive scheme With an aim to give impetus to the cashless economy drive by the Government of India, Niti Aayog (National Institute for Transforming India) has come with a slew of incentives to digitize cash. The broad objectives which NITI Aayog wants to meet are Drive the development and modernisation of the payment system, promote transparency and accountability, reduce transaction costs, and decrease the size of

Digital Payments,

Demonetization and cashless transactions

Demonetization is the act of stripping a currency unit of its status as legal tender. Demonetization is needed whenever there is a change of national currency. Demonetization was implemented in India for the third time on the 8th November 2016 removing 500 rupees and 1000 rupees notes from its status of legal tender leaving the residents of India in shock. The permitted amount of exchange of the old currency notes with the new 500 rupees