Be it be security or demonetization, the growth of card less payments is increasing everyday. The number of users who prefer making their payments without cards are spreading all over the world. The demonetization act in India has also played a really important part of, people freely making their card less transaction. Long ques in the ATM’s forced customers to consider to the option of other Fin Tech like Pay TM. It’s a Fin tech start up in India, which has been wildly spread in a very short duration of time.This start up has replaced the concept of people carrying cash. This is an instant money transfer platform which works a lot like Paypal , but the transfer of money is much faster. The PayTM stands from PAY through mobile, Uses all kinds of ways for money transfer. One can create a PayTM wallet and save your money their, Or It also provides you to save the option of your credit or debit card and the money will be deducted from that for the corresponding transactions ,It can also use our net banking accounts.This is an app which has spread and is also used in the payments of jeweler which involves a transfer of large amount of money to to the payment of your taxi fare.
2 thoughts on “Growth of Cardless Payments”
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Great post! I definitely saw the validity of Pay TM in India when I recently vacationed there. It’s also interesting to see how the younger generation of college students in the U.S. have shifted towards using Venmo (an equivalent of Pay TM) in their daily lives.
Nice read. Its fascinating to see how millions in a cash driven economy have adopted the concept of digital wallets post the demonetization phase in India.