Demonetisation: Debit cards surpass credit cards as primary mode of payment
Monday, March 27, 2017 IST
Demonetisation: Debit cards surpass credit cards as primary mode of payment
New Delhi: Following the withdrawal of Rs 500 and Rs 1,000 banknotes, the utilization of debit cards at dealer foundations have seen a decent surge, surpassing credit cards as essential method of payment, according to a news paper report.
A report in the Times of India said that the use of charge card has hopped to 60 percent after demonetisation.
Use of debit cards issued by little public sector lenders like Oriental Bank of Commerce and Punjab and Sind Bank, has gone up about five circumstances, the TOI announced.
Post demonetisation, many banks have said that the downloads of the banks' Unified Payments Interface, which encourages shared payments on the mobile phones has additionally seen an expansion.
According to the TOI report, open segment banks revealed check card exchanges esteemed at Rs 29,339 crore this year against Rs 19,664 crore worth exchanges recorded by charge cardholders of private banks.
Related Topics
Trending News & Articles
ALMATY: Hour upon hour, day upon day, Omir Bekali and other detainees in far western China's new indoctrination camps had to disavow the...
Recently posted . 224K views . 1 min read
If you have payed attention to the belly buttons of people on the beach or the members of your family, you have probably noticed that they have different shapes and...
Recently posted . 10K views . 2 min read
The Langya henipavirus has a place with a similar group of infections, including Nipah, which is known to kill up to 3/4 of people in extreme cases.
Recently posted . 6K views . 1 min read
Queen's death: The eldest of her four children, Charles, Prince of Wales, who at 73 was the oldest heir apparent in British history, became king immediately...
Recently posted . 6K views . 1 min read
More in National
HIGHLIGHTS
*Pakistan is seeking $8 billion from the IMF to bail itself out from a severe ba...
Recently posted. 951 views . 2 min read
Have you noticed how Google Maps never yells, condemns or castigates you if you take the wrong turn?
Recently posted. 954 views . 0 min read
FBI agents say fitness trainer and mother of four Tammy Steffen used those accounts to unleash a torrent of harassment on her ex-business partner.
Recently posted. 897 views . 1 min read
Recently posted . 1K views
Recently posted . 1K views
Recently posted . 5K views
Recently posted . 2K views
Recently posted . 4K views . 52 min read
Recently posted . 1K views . 49 min read
What if the "great ocean garbage patches" were just the tip of the iceberg? While more than 10 million tonnes of plastic waste enters the sea each year,...
Recently posted. 888 views . 2 min read
In the tiny fishing town of Ísafjörður, Iceland, an excellent development in road safety has just popped up – almost literally. A new pedestri...
Recently posted. 1K views . 1 min read