Question

Technique used in cashless transaction and awareness in it

Answer 1

Answer:

The technique used in a cashless transaction is called digital payment or the electronic payment method.

Explanation:

It is a type of payment which is made through digital modes and involves no hard cash.

All such cashless transactions are performed online. Examples are Paytm, Debit card, UPI, etc.

However, people should be aware of the dangers associated with it. There are hackers trying to hack the website of the banks which leads to withdrawal of money without the customer's consent.

Answer 2

The technique used in the cashless transaction is the digital payment process.

Explanation:

• Every people should be aware of their transaction as it is the fastest means of transaction embedded with the component of its cost effective nature.
• The process can be done through online which reduces the demand of the users in searching the banks to perform their transaction.
• The online payment methodology is highly secure and a person can perform this process by sitting in his home through laptop or through the mobile phones with the net banking applications downloaded in it.

TO KNOW MORE:

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