Question

list various ways through which digital transactions are made​

Answer 1

Answer:

About Digital Payments

There are various types and modes ofdigital payments. Some of these include the use of debit/credit cards, internet banking, mobile wallets, digitalpayment apps, Unified Payments Interface (UPI) service, Unstructured Supplementary Service Data (USSD), Bank prepaid cards, mobile banking, etc.

Answer 2

Various ways through which digital transactions are made are listed below-

1. Mobile applications that have enabled phone banking- Certain applications enable the user to connect with their bank digitally with the required security to secure the credentials of the user. The user can use this app to pay digitally without availing of any cash. The balance gets directly deducted.

2. Debit and credit cards- Banks have been providing the facility of financial cards like debit and credit cards to their customers for availing of cashless payments.

3. Internet banking- Every bank has initiated the process of internet banking. The customer can log in and transfer the required amount of money to another user.