The device resembles a calculator and will be helpful for a wide range of traders as the merchant does not need an internet connection to use it
Madhya Pradesh achieved the top rank on the basis of 109 key performance indicators
India is on track to become the seventh largest e-commerce market in the world by 2021, worth US$ 104 billion
The MoU between the state government and SBI will facilitate revenue collection from citizens through digital modes of payment
A joint study by a global financial major and Roubini ThoughtLab concluded that four of India's biggest metros could gain immensely by shifting to digital modes of payment
Vizag's progress towards becoming India's first cashless city received a bigger boost with the introduction of communication cards on buses
Mastercard and Andhra Pradesh have signed a two-year memorandum of understanding (MoU) to create a digital ecosystem in the state
The Reserve Bank of India's revised directions to allow inter-operability among prepaid payment instruments, thus allowing the growth of digital payments across the country
RailYatri conducted this study among 50,000 travellers across 25 cities and consulted around 800 travel agents
Tez from Google is powered by Unified Payments Interface (UPI) and allows users to make small or big payments directly from their bank accounts
Designed for the Indian market and built on the government-supported Unified Payments Interface (UPI), Tez allows users, free of charge, to make small or big payments straight from their bank accounts
With WeChat and Hike Messenger already launching UPI-based payment apps, other big players may foray into the digital payments scenario soon
All customers who have opened their bank accounts with Paytm Payments Bank will receive the RuPay digital debit card
All the government department heads have been asked by the state government to promote digital payments and widely publicise digital modes of payment
The Confederation of All India Traders (CAIT), the traders body has prepared a report on universal access to infrastructure and open payment systems and it has many suggestions to encourage both consumers and merchants to opt for digital payments
In fiscal 2017, over 60 per cent MFIs disbursed loans through cashless means of which nearly 88 per cent were through NEFT/IMPS
The digital transactions can be made via an app-based solution through smartphones, and also by installing a device which will accept payments through all digital wallets, debit and credit cards
The integration of Unified Payments Interface for Uber cabs will allow users to pay for rides using UPI enabled apps like BHIM
The cashback scheme for accepting payments through BHIM app was originally supposed to last till October 2017 to encourage merchants to use the app for transactions
The mobile wallet will allow BSNL subscribers to pay bills, as well as pay for their daily purchases across various merchant outlets
The facility enables customers to scan the QR code with BHIM or any UPI enabled app and pay the required amount
With Hike Messenger and WeChat already launching their e-wallets in India, WhatsApp's entry into the digital banking market will see a rise in competition among messaging apps backed e-wallets
Mastercard was instrumental in the development of Bharat QR code, which allows users to make instant payments across merchant outlets
The decision to roll out point-of-sale machines for direct transfer of fertiliser subsidies is seen as a move to encourage digital transactions in rural areas
Demonetisation proved beyond a doubt that Indians not only like to buy in cash but save in cash as well
Cashless Bano Contest is now closed. Here are the stories of the winners, who shared their experience of going cashless.
Winner: Sumeet Kohli from Navi Mumbai, Maharashtra
Story: It just happened last week whilst I was travelling from Mumbai to Delhi via an early morning flight and in hurry I totally forgot to load my wallet with currency notes. I booked an uber to airport, paid through my debit card linked to the wallet. Also, I managed to grab a quick bite at the lounge with my credit card. And then I stopped by at a book shop in Delhi to buy a book and paid by my online wallet through QR code. It was at the hotel, where, I felt like to tip the porter boy for carrying my luggage, I realized that I'm not carrying any cash. Even here, I tipped him via e-wallet. Truly, it was an amazing feeling to know that I managed all my expenses through cashless means. And the following day, I deliberately didn't carry cash!
Winner: Bobby Miryalkar from Hyderabad, Telangana
As we are aware that marriage needs a lot of coordination and being in the after era of demonetization, managing the affairs became challenging. Though, my sister’s marriage was scheduled in April 2017, the limited cash reserves in my hometown and in banks around had the chance to educate people to use more of cashless transactions. Firstly, the Pandit Ji accepted his dakshina digitally, followed by caterers, decorators and the wedding hall owners. All had to budge and get the benefits of hassle free digital banking route. It was quite a Herculean task for me as I was the only one to coordinate with each and every one responsible for catering to all the work related to marriage. I preferably don’t carry cash or hardly little cash for managing daily chores.
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.
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