You don't have javascript enabled. Please Enabled javascript for better performance.

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

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 ...

See details Hide details

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.

All Comments
Reset
1 Record(s) Found
322160

Bhawna 4 weeks 2 hours ago

8. ECS
ECS stands for Electronic Clearance Service. It is a convenient method to make bulk payments, especially to pay off your utility services, equated monthly installments, and for financial institutions to disburse payments like pensions, salaries, or dividend interest. ECS can be used for both debit as well as credit services. Authorisation has to be provided to your bank for periodic debits or credits to be made.