Digital Payments - A 360 Degree turn in Indian Finances

India is a country with rich and wealthy culture as well as people. Our history tells people uses coins made of gold , silver and copper for payments and transactions.

It was in 1987 HSBC the Hong Kong and Shanghai Banking Corporations launched first ATM in India. As the time passed there was slow number of increase in the transactions done through ATM or card transactions.

It was under Digital India campaign a Govt. of India initiative that digitalised the complete banking sector.

Internet banking, Mobile Banking, UPI, Payments using mobile without internet,etc. etc. What more a country needs. People carrying bank in the pockets, one tap and you can access the awhole new world of banking and finances.

Many new digital platforms launched like Pay-Tm, G-pay, Phone pay, Jio Pay etc. to assist people in digital transactions and also taking people to a new world of digital payments. 

Peoples who believed only in cash payments have started to learn this digital method of payments in their daily life.

I know one incidence encountered by me a today’s generation guy at least I was thinking like that till the day that incidence happened in 2018.

I went to the Chai ki Tapri as usual and had the chai and biscuits and what I see forgot the cash in the wallet has emptied last night only. I told the chaiwala will give you the money in the evening need the cash to be withdrawn from the ATM. And guess what …..he laughed at me and said bhaiya Google pay kar do na kaha cash ke chakkar mei pade ho…….and I was like stunned and imagined how this digitization changed my country that even a illiterate is able to do payments dealing by digital mediums.

The world is changing day by day and so do we . We have to be updated in this digital tech times .Be it by news, magazines, articles, post but one thing for sure keep up the pace.

Every new technology comes with a bug as well. Using cyber world does comes with cyber threat also. Govt. must ensure people of the country that there new digital money is in secure and safe environment. And Govt. is doing also taking steps that are helping people to encourage the modern technology for the welfare of themselves and country.

For more informations visit - NIDM India