Question

what can be the alternative mode of payment in place of cash money. in easy language

Answer 1

HEYA>>>>>>>>>>

NOWADAYS,PEOPLE SAY THAT IT IS MORE PREFERRED TO USE BARTER SYSTEM BECAUSE LIQUID CASH IS CREATING A LOT OF HASSLES WHICH I YOU AND ANYONE WOULD FEEL RIDICULOUS .

I PERSONALLY BELIEVE THAT DIGITAL MONEY A.K.A CRYPTO CURRENCY IS THE BEST ALTERNATE FOR LIQUID CASH AND IS MOST PROBABLY THE FUTURE OF BANKING.THERE ARE A WHOLE LOT OF BENIFITS OF USING DIGITAL MONEY.COMPANIES LIKE PAYTM HAVE COME UP WITH THESE APPS THAT LET YOU TRANSFER MONEY DIGITALLY.BYT,ON THE LARGER SCALE,ITS ALWAYS CRYPTOCURRENCY THAT IS COMPLETELY GETTING DOMINANT AND LIONIZED .SWITCHING FROM CASH TO DIGITAL CURRENCIES WOULD HELP TO REDUCE THE BLACK MONEY ONLY IF THE SUTES ARE PROPERLY MONITERED AND HAVE A Z-SECURITY.

HOPE IT HELPS

Answer 2

Cheques and Demand Deposits can be good source of alternatives in place of cash in the mode of payments.
It is because they are easy to do so and there is an absence of carrying materials like coins, currency.

There can also be other replacements like Credit cards, Debit cards, E-Banking and so.......


^_^ Hope this Helps !!!