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
While the Uttarakhand High Court has asked to block 857 websites, the Ministry of Electronics and IT (Meity) found 30 portals without any pornographic content.
...
Recently posted . 64K views . 1 min read
The four boys as well as five school officials, including the director and principal, were arrested after the incident. The minors were presented before the Juvenil...
Recently posted . 9K views . 1 min read
Rahul was having an Italian passport and was carrying suitcase full of dollars. Some say it was about was it $2 million.
Rahul and his girl friend was th...
Recently posted . 9K views . 7 min read
True – Tr...
Recently posted . 8K views . 83 min read
More in National
The German state of Bavaria has passed a controversial law that requires all immigrants to recognize the "dominant" neighborhood tradition.
...
Recently posted. 654 views . 18 min read
Atal Bihari Vajpayee joined the Rashtriya Swayamsevak Sangh in 1939, and in 1951, was seconded to its political wing, the Bharatiya Jana Sangh. He steadily rose i...
Recently posted. 728 views . 1 min read
Initial assembly election results suggested a clear majority for the BJP but later trends showed they were falling short of the halfway mark, opening up the state...
Recently posted. 774 views . 1 min read
Recently posted . 1K views
Recently posted . 492 views
Recently posted . 2K views
Recently posted . 2K views
Recently posted . 3K views . 20 min read
Recently posted . 3K views . 19 min read
• Ratan Tata revealed details about personal life and how he 'fell in love and almost got married' after his college days...
Recently posted. 658 views . 2 min read
Several kisan morchas launched 'Gaon Bandh' agitation on Friday, during which no eatables would be supplied from villages to cities.
Recently posted. 731 views . 1 min read