For financial transactions in India, traditionally there is a reliability and reliability of people on cash. There is still a lot of efforts left in India to move towards digital payments. There is a lot of suspicion among the people regarding the payment of the charges in the digital payment to internet connectivity and cyber crimes. Therefore it is necessary to meet the basic needs of the people and try to increase the reliability of digital payments among the people.
There are many problems in digital media transactions. For example, payment by card has to be paid from 0.25% to 3% or more than the transit charge. Due to the cloning risk on the use of the card and poor Internet connectivity in many areas of the country, digital media is facing difficulties in transactions.
Thus, banks are saying that they are taking steps to promote digital media transactions and will see better results later. On the other hand, the government is trying to reduce the transaction fee on the card. It has also made a favor for this in response to the Reserve Bank.
The government is also preparing to make it more user-friendly to promote Bhima App. Not only this, India QR code is coming up with a new form of Quick Response ie QR code. Due to this, there will be no need to scan separate code for different payment arrangements at any shop. QR code is considered to be a very secure medium of digital signage. Any kind of information will not be shared unnecessarily through its medium.
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