• Shahiba.Ec

In India continues to be driven by the use of cash less than 5% of all payments happen electronically, however the finance minister in 2016 budget talked about the idea of making India a cashless society with the aim of curbing the flow of black money. Even the RBI has also recently unveiled a document-“payments and settlement system in India: vision 2018”-setting out a plan to encourage electronic payments and to enable India to move towards cashless society or economy in the medium and long-term. A cashless economy is one in which all the transactions are done in which all the transactions are done using cards or digital means. The circulation of physical currency is minimal. India uses too much cash for transactions. The card based payment system has several players. On the one hand, we have the providers of the card based payment system-first of which is the card companies like MasterCard and visa who provide their payment network for the system to function. The second set of providers in the banks that act as acquirers for merchants and issuers for cardholders and reach the card payment services to the ultimate users.

cashless economy, digital transactions

"A Study On Customers Awareness Towards Digital Transactions With Special Emphasis To Rural Area", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 12, page no.79-82, December-2018, Available :http://www.jetir.org/papers/JETIRP006022.pdf

"A Study On Customers Awareness Towards Digital Transactions With Special Emphasis To Rural Area", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 12, page no. pp79-82, December-2018, Available at : http://www.jetir.org/papers/JETIRP006022.pdf