Dealing with digital black holes

Electronic transactions are rising fast, so are cases of payment failure and delayed settlement

The government’s demonetisation drive has forced people to adopt digital payments. But, as the numbers of electronic transactions are rising rapidly, so are issues related to those. While shopping online, Deepika Kohli used a mobile wallet for payment. The service provider e-mailed that her transaction was successful. But, the online retailer claimed it didn’t receive the money. It’s been over a week and she has no clue where the money disappeared.

 “Depending on the instrument used for a transaction, it can take from a few seconds to seven working days for settlement. If it takes longer, the money usually is in