{"id":1695,"date":"2016-12-04T00:12:14","date_gmt":"2016-12-03T18:42:14","guid":{"rendered":"http:\/\/easybankingtips.com\/?p=1695"},"modified":"2017-01-03T21:15:41","modified_gmt":"2017-01-03T15:45:41","slug":"cashless-economy-digital-payments","status":"publish","type":"post","link":"https:\/\/easybankingtips.com\/cashless-economy-digital-payments\/","title":{"rendered":"Cashless Economy Survival Guide: How to Go Cashless in India"},"content":{"rendered":"

After the government of India demonetized high-value old currencies, a lot of people in the country are facing a cash crunch and struggling to make day-to-day transactions.<\/p>\n

While the government is advocating for a cashless economy, there are arguments both in favor of and against the motion. Whether or not you\u2019re in favor of a cashless economy, learning about how modern digital payment options will never hurt.<\/p>\n

The purpose of this post is to educate readers about how digital payments work and how they can choose from the available digital payment options.<\/p>\n

What is Digital Payment?<\/h2>\n

Digital Payment is a process of paying money via a digital interface, to a seller or service provider for the product or service received.<\/p>\n

Whether you\u2019re booking a train ticket, dining at a restaurant, paying house rent or buying grocery, you\u2019re essentially paying for the products or services received.<\/p>\n

In India, the conventional payment methods are predominately cash-oriented especially for small transactions such as paying for the snacks at a roadside vendor. Even though India is one of the largest users of mobile phones, many consumers still recharge their prepaid cards by paying cash at a local store.<\/p>\n

The digital payment is essentially a process of paying the seller through the following options.<\/p>\n