Esay digital device use digital service in cash transaction
Answers
The call for digital cash, or going cashless, has never been as loud and clear as it has been in the past two months across India. One of the positive impacts of demonetisation has been the exploration of alternate methods of payment such as credit and debit cards, online money transfer and payments, use of e-wallets, digital transaction apps such as BHIM, etc. The various means of digital payments have made life a little easier.
However, each of these has one common challenge — low penetration. According to the Reserve Bank of India, a little over 2 per cent of Indians have a credit card and around 59 per cent have a debit card but even these are not accepted at all merchant establishments. In cities, the acceptance of cards is high but in rural India, it’s scarce and challenging.
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