The ATM card hack incidents and the attacks on India's websites are indicators of the increase in cyber threats as India is slowly shifting towards a cashless economy
Micro ATM, in the most basic terms, is a card reader and PIN Pad device to do banking transactions in remotest locations where there are no bank branches because of connectivity issues, and other unfavourable conditions
Instead of standing in long queues for hours, Delhi Metro commuters can now get their tokens and smart cards recharged using Bharat Quick Response (QR) code through mobile banking applications
The entire shopping complex in the region has Wi-Fi facility and businessmen have Point of sale (POS) machines and each shopkeeper has e-payment facility. The villagers use BHIM app and Paytm to pay for their shopping
More than 2 lakh ration shops across the country have been provided with PoS machines to facilitate cashless transactions
The Government eMarketplace is the one stop e-portal for goods and services to be supplied to all ministries
Merchants and traders will have to adopt digital methods to pay GST amounting to more than Rs 10,000
Delhi Metro commuters will now be able to wear their smart cards on wrists to make payments at the gates
SBI Cash Management Product (CMP) will help the state government to make its payments online and will reduce paper work and manual reconciliation of government transactions
This cashless service, currently active in all six Token Vending Machines and Recharge Card Terminals (RCTM) at Lal Quila Metro Station, will subsequently be extended to 36 such machines installed on the Delhi Metro's Heritage Corridor (ITO-Kashmere Gate) of Violet Line
T Wallet, which is the official digital payment wallet launched by the state government of Telangana, facilitates transactions across several platforms.
A partnership between the state government and global payments giant will see the implementation of multiple initiatives in Visakhapatnam to make it India's first cashless city
While India moves towards a digital economy, it can look at some European and African nations which have successfully moved towards a functioning cashless economy.
Going cashless is now the target of the universities and colleges - while some have already switched to the online payment mode for collecting fees, some are now looking at different ways to make other transactions - such as parking fee, journal fee and canteen payments - digital
An increase of 22 per cent in cashless payments in 2016 paves the way for India to further adopt cashless methods and move steadily towards a digital economy
NDTV along with MasterCard is launching a multi-platform campaign “Cashless Bano India”, to create digital awareness and educate the masses about digital payment solutions for day to day transactions.
The campaign aims to take the message of a cash free India to the country, and will charter a blue print which can help all stakeholders to become a part of the digital revolution.
It also focusses on the steps we need to take to ensure digitisation reaches the common man, and what are the problems which each one of us face on day to day basis?
We aim to reach out to people and educate them on:
1). Digital and financial literacy
2). New generation digital payment solutions
3). Enabling merchants and consumers to understand and adopt secured and safe payment Solutions
4). Ease of usage at point of sales