The 'cashless' economy
BUSINESS & MANAGEMENT
If a higher proportion of payments via the internet, debit/credit card swiping, mobile etc as compared to the conventional mode of cash payments is an indication of an economy that is maturing, then the news link below definitely indicates that the Indian economy is on the right track. The below article appearing in the Economic Times publication highlights the growing trend towards 'virtual payments' in India - something that new age payment gateways such as Paytm, Mobikwik etc will be paying close attention to. It is also a good wake up call to all those organizations which are yet to commence accepting virtual payments against their goods / services.