do cashless transaction by simple ways using UPI,wallets

how to to become part of cashless economy

Our  prime minister SHRI NARENDRA MODIJI  making our economy to become free from corruption ,black money , price unfairity , gap between rich and poor . we all have to move forward for cashless economy . now just understand the term "cashless economy" . cashless economy means any country that is working fully on digital transactions ,less use of paper currency is followed by people . in other words cashless economy means all the or most of the financial transaction ,all type of monetary transaction by people ,govt ,ngo and every citizen of country will only pay or receive money via digital medium that can be done from cheque to e banking  ,paying via wallets , cash cards ,any plastic money , any digital card that are accepted legally by RBI and authorised by govt . now as there are many medium so people will have more choices to do digital transaction .

use app based payments to make a cashless transaction

according to media , millions of citizens in india living in backward areas , in rural areas ,in urban rural areas are not having internet connection as are even not having smartphone may be in rare cases but the point is this portion of economy will have to  be trained for cashless economy , government is planning to start aadhar based payment system so the paying  person have to link his or her aadhar card to  his  bank account so that by showing aadhar card ,the payment or transaction is done by a biometric fingerprint scanning on the device that is being provided by government  . the device will work as a bank itself as the customer only have to show the aadhar card and have to scan  the biometric fingerprint scanner ,then bank will communicated via aadhar card and the shop owner bank account will be paid by customer's bank account and the payment slip and transaction id will be received to the registered mobile number .

there are many ways by using that we can  make a digital transaction . an online transaction is connected with the registered bank account and with the the mobile number that is registered with the bank .the bank will provide a unique username or id to login and the password will be sent to the mobile number as OTP . here two step verification is done and the double security is provided by the bank to make it more secure from un-authorization to someone unknown . app based payments are also working  in same process ,bank mobile app needed to be downloaded .there are many fake similar apps presents in the playstore  or istore .the bank app will be having registered app and will be on top with the bank details and logo . the bank app will be legal and authorised by the bank itself . bank apps also working as banks e-wallets for regular payments .there are many other apps that are accepting payments ,making cashless transaction , online based websites  that are having there mobile based app like paytm ,mobikwik ,payu money , oxigen wallet .

RBI have launched UPI payment system for smartphones .UPI app is available to all smartphones can be easily downloaded and installed . all registered banks are now having there upi app .just need to login or create account from registered bank debit or credit card , fill some bank details and start using it. 

• suppose anyone needs to transfer some money to person in any other location  like mumbai to surat .he needs to type the person's name with his bank , the bank will connect it as mail and the money will be transferred to the person . the bank will provide confirmation text to both the registered mobile number . as simple as opening whatsapp and sending a text to friend .

• today's economy of India now developed as e-commerce business . online buying and selling is now the trend in India so most of the purchases are done online .people can easily pay by the bank upi apps or by using e-wallets with the offer to pay online . the seller will receive the payment instantly and the buyer will pay the correct amount and may get some discount government  have taken off the tax on payment made through plastic money or online payment so people will not have to pay extra tax or service charge for transactions .

• e-wallets payment is the way to pay through any e-wallet account . e-wallets like paytm , oxigen ,  mobikwik , payu ,freecharge , ola , jio money  etc are some examples that can be used to do the transactions . in India paytm is on top all theses companies while all others are in competition to each other . paytm have utilised more investment in marketing so resulted in making it to top . all these wallets are having all the options that are needed in banking from money transfer to money deposit in bank . from recharge of mobile to paying a bill all options are available . e-wallets nowadays are making a track for store payment ie paying to any retail store the bill of product purchased from the shop and payment can be made by using  any wallet that are accepted in store . from purchase of grocery , eating street food  to buying from big malls ,all are now accepting these wallets .

• upi app is somehow similar to e-wallets as both are having similar facilities ,from  paying online to transfer of  money . upi app is direct app of banks so the registered account will be linked to directly to upi app where e-wallets are linked with plastic money like debit cards and credit cards to do cashless transaction . 

to make cashless economy , every citizen needs to understand benefits of digital transaction . for agriculture sector people needs to use cheque facilities , transfer or receive payments online directly to there bank accounts . government needs to allot number of volunteers teams to backward areas , rural areas where people are still not having banking system , atms , minimum internet connectivity ,mobile connectivity , not having smartphones . government needs to allot aadhar  enabled payment machines to these areas ,start bank accounts of all people living as soon as  possible within the fastest  period of time . once bank accounts are started  , tell them to deposit all money they have as cash . now allow aadhar to be linked to there bank accounts and once aadhar linked , they can pay to the local stores as mobile banking ,e-wallets banking can be difficult for them as are lack of smartphones so till they  get smartphones make them capable to work in cashless economy so they can full fill there daily needs without using cash .government have introduced around 700 aadhar payment machines ,i request government to shift all these machines in backwards areas if possible . urban areas people can manage to pay via other medium but these backward areas people with less or no banking facilities will face problem . now go for cashless transactions to support economy and our pm shri NARENDRA MODIJ

till then stay connected to marwari