Positive and negative impact of demonetization on E-business
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A large part of E-business caters to educated or semi-educated people, who are aware of digital online payments. So, this segment of the market couldn't have been affected due to demonetisation.
The segment of the market that believe in paying cash on delivery would have been affected. But, a lot of e-retailers were seen collecting payments digitally as their couriers or delivery persons were carrying POS ( Point-of-sale) machines so that people could swipe their debit or credit or prepaid cards.
In rural and semi-urban areas, where paying cash is the norm for most transactions, E-businesses would have been adversely affected.
In the long run, however, E-businesses stand to gain as more and more of their customers adopt digital modes of payment. Cash handling will be reduced and the cumbersome process of depositing the cash into their bank accounts will become a part of history; on the other hand, money will get credited faster into their bank accounts.
The segment of the market that believe in paying cash on delivery would have been affected. But, a lot of e-retailers were seen collecting payments digitally as their couriers or delivery persons were carrying POS ( Point-of-sale) machines so that people could swipe their debit or credit or prepaid cards.
In rural and semi-urban areas, where paying cash is the norm for most transactions, E-businesses would have been adversely affected.
In the long run, however, E-businesses stand to gain as more and more of their customers adopt digital modes of payment. Cash handling will be reduced and the cumbersome process of depositing the cash into their bank accounts will become a part of history; on the other hand, money will get credited faster into their bank accounts.
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