Best Cashless Payment Methods

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Cashless Payment Methods

 

It’s time we left without cash, because the purpose of demonization is not only to eliminate black money but also to encourage cashless payments as well. Instead of breaking your head by standing in the ATM queue, you must apply a cashless method for the transaction. The cashless method is more transparent because each transaction can be traced easily because it leaves footprints. Many smart people have adopted the option of payment without new cash.

If you are wondering which cashless option, which you should adopt here are some options cashless payment options for you. Checks are one of the oldest cashless payment methods. This is a method known to everyone. With this method, you issue a check for a certain amount to someone else. Checks will be stored in their respective banks. The bank processes payment through clearing house. All transactions conducted through checks will be recorded and there is proof of payment. However, there are cases where check payments are not honorable due to insufficient signatures or insufficient funds. To avoid such issues, you can use other non-payment options.

Then the draft request is another way for transactions without cash. This is the safest option to receive payments from anyone. The draft request (DD) never fails because it is signed by the banker. The disadvantage of DD and check is you need to visit the bank to order checks and checks. Check cleaning or DD takes extra time. The simplest third method for event analytics cashless transactions is online transfer using NEFT or RTGS. To make money transfers online.

You need internet banking facility. Online transfers using NEFT or RTGS are relatively faster than checks or DDs. Online transfer can be done from anywcashless paymentere by using internet facility. A credit or debit card is another cashless payment method. However, the use of credit and debit cards is increasing nowadays. The method limitation cashless payment of this payment is the availability of the card swip facility (poS) on the merchant end.

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