Demonetization Promotes More Cashless Transactions via Mobile Apps

Mobile Apps

Indian Government’s move towards ‘Digital India’ has already digitized a considerable segment of operations. Moreover, our honorable Prime minister Narendra Modi’s ‘Demonetization move’ the latest initiative to curb corruption and black money has motivated and is speeding up the process of digitization.

The IRCTC is digitizing financial transactions on various fronts such as booking of train and flight tickets; season tickets; online meal booking, and so forth. The passengers are able to make payment through e-wallets, Android or iOS-based mobile applications, debit or credit cards.

Buying vegetables or daily essential commodities at mall stores like spencer’s, Big Bazaars, More, and, etc., have immediately installed e-wallets like Paytm for the convenience of the public. Any citizen is able to download the Paytm app in minutes, scan the QR code hung in the stall, punch the amount and make the payment in seconds. Most of the vegetable vendors in metro cities are opting for Paytm instantly and a lot of people have already started to pay through e-wallets. The POS terminals are also going mobile with affordability and faster Internet connection.

Mention not to say, several small taxi services are clubbing their system with other taxi services (in Mumbai) who are having cashless payment services on a commission basis as an immediate set up to avoid knock-out of their taxi services. Similar voices are echoing throughout the country where people are making a move towards cashless payments for their daily activities.

Though Indians are used to pay through cash since ages together, it is a fast and welcoming move where young and old people alike are learning the digital mode of payment. It is getting extended into the rural areas also where people are illiterates though with some internet connectivity issues.

Moreover, the prime minister is motivating the people to get switched over to e-transactions by downloading mobile applications. We witness many of the banks have started developing mobile banking apps for a smoother transaction.

The Prime Minister of our country states that “In the coming days, the country would admit that even though the decision was tough but the future is bright,” and urged the people that hence everyone should adapt to the new technology and ensure that transaction is made through mobile apps.

A snippet on how to make e-payments represented below:


For more details on developing e-commerce apps, mobile banking apps, and any other mobile application development on major platforms like Android and iOS, get in touch with the mobile app developers at Mobibiz.

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