This is the age of digitalisation. Going cashless is the way ahead, and going forward we will see people using only e-wallets and net banking for all transaction purposes. Even today, retailers across the nation can be seen indulging in cashless transactions having M-POS machines installed at their outlets. In the coming times this is only going to increase, as this mode is transparent, quick, and really safe both for the retailer as well as the customer.
All the three payment modes, vis-à-vis is popular and can be seen being used at stores big and small across the country. But going ahead, which of the three modes is going to prevail and be liked by retailers and customers alike. It is certainly the level of comfort a mode generates that makes it stand apart from the rest. Net-banking is something which is limited to high-end, metro cities as not every Indian is technologically sound nor is internet that widely used in the country that it might become a success in the near future. Also, for net-banking one needs to remember a lot of details. So this is something which will only see limited usage in the coming times.
e-wallets have become highly popular owing to the advancement of mobile handsets in India. But is everyone comfortable with such transactions? Take for instance an old lady residing in a far-away village who has a landline with fidgety signal strength in the name of phone. She will never be able to take advantage of such a nice advancement in the form of e-wallet. Similarly, many Indians are still unable to use this service. With the onset of this service, came many competitors providing e-wallets. But since they lack in interconnectivity, retailers and customers do not always find a middle-ground and can be seen thinking about ways to take transactions any further.
This is where the role of M-POS machines becomes all the more significant. Everyone in India has their bank accounts these days. This means that almost everyone also has Debit Card issued to their names. The working of M-POS machines involves swiping the Debit Card/Credit Card of any bank to make payments. Everyone can do this anywhere with the help of the PIN they have set for their respective cards. Retailers do not need to worry about which bank’s card the customer has and the customer too does not need to do much than swipe the card and enter the PIN.
Payworld is one such provider of M-POS machines that help make lives easier. Wherever the machine is installed, you can simply go and not just do payments but can also withdraw up to 2,000 rupees in case of emergencies. Payworld strives to make lives easier for everyone around and our introduction of Cash Point service is a giant step from the company towards betterment.
