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11 Digital Payment Modes Making Cashless Transactions Easier. Share your experiences.

Start Date: 14-10-2019
End Date: 14-11-2019

Today, Digital Payment covers a significant percentage in the payment sphere of the country ever since the evolution of the latest technologies and applications after Digital India ...

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Today, Digital Payment covers a significant percentage in the payment sphere of the country ever since the evolution of the latest technologies and applications after Digital India was launched in 2016. Digital Payment or Cashless Payment is a convenient payment method where both the payer and payee uses a digital medium to send and receive money-saving time and energy involved in a physical or hard cash exchange. Almost every payment these days can be made through one or the other modes of digital payment available, whether sending or receiving money to or from anybody, purchasing items from offline or online stores or bill payments, etc.

Below mentioned are the various modes of digital payments available today:

1. Banking Cards (Debit Card, Credit Card, Cash Card, Travel Cards, etc.)
2. USSD (Unstructured Supplementary Service Data) Banking
3. AePS (AADHAAR ENABLED PAYMENT SERVICE)
4. UPI (UNIFIED PAYMENT INTERFACE)
5. Mobile Wallets or E-Wallets
6. Banks Prepaid Cards
7. PoS (Point of Sale)
8. Internet Banking
9. Mobile Banking
10. Micro ATMs
11. QR Code

Share your views and ideas about the digital payment modes you prefer the most by mentioning their reliability, functionality and security aspects while making any digital transaction.

Note: Click on the digital payment modes listed above to read and learn more about the features of each and every mode.

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Bhawna 6 years 2 months ago

4. Mobile Wallets
Mobile wallets have become a convenient way of making payments without cash. Once you load money into your mobile wallet, you can use it wherever it is accepted. The most popular mobile wallet that is trending is Paytm. The disadvantage with mobile wallets is that it isn’t linked to your account. Once you load the money into your mobile wallet, you can only spend it with a merchant who accepts payment through the said app.

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