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Are we moving to a cashless society?

While the tech-savvy have reduced their dependence on cash by 30-40%, many are still not using cards because merchants charge them extra

Tinesh Bhasin & Sanjay Kumar Singh 

Many consumers in metros have seen their cash transactions go down significantly because of growing e-commerce, expansion of mobile wallets and online banking. This is only the start of a march towards becoming a cashless society. Things are expected to change dramatically in a few years for urban consumers. Many entities are working on different electronic payment mechanisms that can usher in a digital payment revolution. Wallet companies are aggressively tying up with retailers to let customers use mobile payments. National Payments Corporation of India (NPCI), a company promoted by ...

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First Published: Mon, March 14 2016. 08:52 IST
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