The Benefits of Using Cashless Transactions

Benefits of using cashless transactions and cashless services are accentuated recently. During emergencies, they transform from being conveniences to lifesavers.

Cashless services can help in speeding-up the money multiplier. As we enter the digitalised world, it is imperative to choose cashless services over other forms of non-digital payments.  

Here are key points in support of cashless transactions:

For a new-age consumer, cashless services like pre-paid cards; online payments, tracking spends and more, can grab attention. You can see many youngsters wanting to make an online payment while making a purchase. However, at present, you witness only a few shopkeepers would own a swiping machine. Additionally, you might also have to pay a charge of 3-5% extra for your card payment! 

Cashless Transaction during emergency

In contrast, you can find, persons who paid in cash would walk away with their heads held high. Shouldn’t it be the other way round? 

In such cases, what would you do if you are witnessing a pandemic? Or, if you are struck by a natural calamity? How will you carry and secure your cash if your locality is impacted due to frequent thefts? 

Effective dealing with these situations is where the benefits of cashless services lie.

The benefits of going cashless in India can be analysed with the help of the following questions: 

Can India go Cashless?

If you asked this question to anyone a few years ago, the answer would be a clear and resounding no. Now, there’s advancement in technology and the advent of affordable internet services on the mobile platform. There’s also an effort on the part of the government to encourage cashless services. This can be a measure to curb black money, which is what most governments believe. 

Is India ready for a Cashless Economy?

Most of the people are not ready, yet. However, things are becoming more fluid. Mobile Internet penetration is on the rise not only in urban but also in rural areas. We are on a steady path of getting closer to the cashless economy as more people are now appreciating the benefits of using cashless transactions.

Cashless Services are growing steadily

A few years back, would you have imagined that a street side vegetable vendor would accept or even prefer digital payments over cash? Or a rickshaw driver? Or your local grocery store owner? 

But look at things now! 

Everyone knows the benefits of using cashless transactions. Today, in many places, you can find street vendors, auto/cab drivers having a printed QR code for ‘scan and pay’. 

Cashless Economy during an Emergency Situation

InstantPay, with its Neo banking solutions, can help you all in your cashless transactions journey. You can use the hassle-free QR code scanning feature, that enables payments to breeze through all payments from your mobile phone. With these sizeable benefits, shopkeepers will be pleased to turn their attention towards cashless services. 

Cashless Economy during an Emergency Situation

You would have witnessed the spread of Coronavirus in your locality. There is a heightened risk of infection at multiple instances through the process of withdrawing, handling and exchanging cash. Thus, cash-based transactions during emergencies can put you at risk. What would you like to do during such emergency situations? A cashless transaction service can help you steer clear of these inefficiencies.

InstantPay, with its neo banking solutions, can be your lifesaver, due to its cashless services for all transactions. 

“Better safe than sorry”, could you agree more?

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