Presented by Meet Shah

A Payment Or Transactions which are
operated or performed out without the
use of COINS or CURRENCY NOTES for
Money Transactions, instead using
BANK CARDS or ELECTRONIC
TRANSFER of Funds for Transactions is
known as CASHLESS PAYMENT .
After Demonetization in India for
currency of 500’s & 1000’s, the
Cashless Payments / Digital
Payments are given more importance.

BANK CARDS
AADHAR ENABLED
PAYMENT SYSTEM
(AEPS)
UNIFIED PAYMENT
INTERFACE (UPI)
Unstructured
Supplementary
Service Data (USSD)
E - WALLETS
POINT OF SALE
(PoS)
There are mainly 6 types of Cashless Payments Systems.

1. Getting a Bank Card -- First of All you need to go to your nearest bank for registration
of getting suitable type of Bank Card for your Account. Banks gives a 4 Digit PIN XXXX which is
to used to operate the Card Anywhere.
2. Types of Cards & Usage -- Bank Cards are mainly classified into 4 types i.e. ATM
Cards, Debit Cards, Credit Cards & Prepaid Cards.
DEBIT CARD
•Linked To your
Bank Account.
•Can be Used to
at Shops,
Online
Shopping's,
ATM’s.
•Amount is
directly
Debited from
your Bank
Account.
CREDIT CARD
• Linked to Bank
Account. But
here we Use the
Bank’s Money.
• Can be used at
Shops, Online
Shopping,
ATM’s etc.
• Here the Bill of
Usage of Card
comes at the
End of Every
Month and the
Amount used
had to Paid to
Bank in Certain
Time Limit.
ATM CARD
•Linked to
Bank Account.
•It is mainly
Used For the
Purpose Of
ATM’s
Transaction.
PREPAID CARD
•Pre-loaded
From Bank
Account.
•Safe to use,
limited
amount of
transaction.
•Can be
recharged like
mobile
recharge.

• AEPS allows bank-to-bank transaction at PoS .
• Only Aadhar needed.
• Aadhar enabled Services : - Balance Enquiry, Cash Withdrawal, Cash Deposit, Aadhaar to
Aadhaar Funds Transfer.
GO TO A MICRO ATM
OR BANKING
CORRESPONDENT
PROVIDE YOUR BANK
NAME AND AADHAAR
CHOOSE WHICH
TRANSACTION TO DO
PROVIDE FINGER
PRINT ON SCANNER
ON SUCCESSFUL
TRANSACTION, TAKE
THE PRINT SLIP
PROCESS COMPLETD
Key Steps for AEPS Transaction

Requirements for registration on UPI
• Smartphone with internet facility
• Bank Account details (only for registration)
UPI Registration Process
DOWNLOAD ANY
BANK’S APP OR 3RD
PARTY APP
CHOOSE YOUR UNIQUE
ID (AADHAR, MOBILE
NO.) AS VIRTUAL
PAYMENT ADDRESS
(VPA)
SELECT YOUR BANK
GIVE ACCOUNT
DETAILS FOR FIRST TIME
SET M-PIN FOR
VALIDATING
TRANSACTIONS
REGISTRATION
COMPLETED
AVAILABLE APPS (28 BANK APPS) SBI app, PNB UPI, UPI Collect (ICICI), Axis Pay, Canara Bank UPI, UCO UPI, Union Bank
UPI, OBC UPI and 20 other banks
UPI also helps in
Sending & Collecting
Money.

*99# - National Unified USSD Platform (NUUP) -
• Required for Activation
1. Account in a Bank.
2. Any Mobile Phone on GSM Network.
Step 5: In the final step,
you have to enter your
MPIN to authorize the
transaction and last 4
digits of your account
number (separated by
space), and tap on
send. That’s it, once
your transaction is
authorized, the money
will be instantly
credited to the
recipients account.
Step 4: Next, you
need to enter
amount and
remarks (separated
by space).
Step 3: Enter
beneficiary MMID,
which you will
have to get from
the person you are
sending money to.
Step 2: Enter
beneficiary mobile
number.
Step 1: Dial *99#,
type bank name,
and when the
interface opens,
enter ‘3’ and tap
send.
• Registration Process For USSD.
1. Visit your branch to link mobile number and bank
account, Can be done at ATM or online also.
2. You will get your Mobile Money Identifier (MMID)
and Mobile PIN (MPIN) upon registration.
3. Remember your MMID and MPIN.
Transfer Funds to another Bank Account
Can be used for payments upto Rs 5000 per day per customer

What are e-wallets?
• Electronic pre-paid payment system.
• Used in purchasing items on-line with a computer or a smartphone at a store.
• An individual's account is required to be linked to the digital wallet to load money in it.
• Most banks have their e-wallets and some private companies
Consumer Wallet Limits: Rs.20,000/month for all. Rs.1 lakh/month with KYC
CONSUMER
DOWNLOADS
THE APP ON
SMARTPHONE
SIGN UP USING
MOBILE
LOAD MONEY
USING DEBIT
CARD/CREDIT
CARD OF
NETBANKING
START USING
WALLET TO
MAKE PAYMENTS
Merchant Wallet Limits: Rs.50,000/month with Self Declaration. Rs.1 lakh/month with KYC
SHOPKEEPER
/SERVICE
PROVIDER
DOWNLOADS
THE APP
SIGN UP USING
MOBILE
SELF DECLARE
ITSELF AS A
MERCHANT
START
ACCEPTING
PAYMENT
Basic Requirements to Start Using a Wallet: Bank Account, Smartphone, 2G/3G Connection & A Free Wallet App
E – Wallet Example – PayTm, FreeCharge, MobikWik, Oxygen, etc.

Types Of PoS
PHYSICAL PoS
• SWIPE A DEBIT/CREDIT
CARD ON THE POS
MACHINE
• ENTER AMOUNT TO BE
PAID AND PIN
• GENERATE RECEIPT
M – PoS
• PLUG-IN THE M-SWIPE
• LAUNCH THE APPLICATION
• SWIPE YOUR CUSTOMER
CARD
• ENTER THE CARD HOLDER
MOBILE NUMBER & E-MAIL
ID
• OBTAIN YOUR CUSTOMER
SIGNATURE
• NOTIFICATION IS RECEIVED
ON SUCCESSFUL
TRANSACTION
V – PoS
• No PoS machine
required
• QR code used for
payment to bank
account of merchant
• Complete privacy of
merchant bank
account
PoS Points To Be Taken Care Of.
• Register your mobile number at
bank for regular information by
SMS for every transaction
• Never share your PIN to anyone
• Transact at only trusted
merchants
• While at ATM, ensure no one is
looking over your shoulders

Moving towards a Cashless Economy: Here are the advantages
1. Cost of handling cash reduces
2. Brings transparency
3. Help curb the creation of black money
4. Will increase the tax base and add to tax revenues.
Hightlights of the incentives announced –
1) Discount on fuel Purchase
2) PoS Machines in Village
3) Discount on Suburban Railway tickets
4) Service Tax Exemption
5) Discount on Highway Toll
6) Discount on Insurance Premiums
7) Rupay Cards to Farmers

Here are the Disadavntages of Cashless Payment System
1) Poor knowledge about transaction process, India is still ill-literate democracy.
2) Hacking into one's account due to server vulnerability.
3) Mass scale cyber theft into central government account, website, which has
chances of deleting your transaction history or government stats about all
citizens
4) Mistake by many individuals of entering wrong digits in hurry, believe me it's
major drawback
5) Cashless transactions are not guaranteed by sovereign. In absence of
sovereign guarantee, people are left at mercy of businesses who have founded
these methods and promoting their use.
6) The dispute mechanisms are business and method specific and can leave
people in chaos and very confused about what is binding regulation Vs what is
a business practice
7) Inconsistency over payment mechanisms - merchants accept only a specific
type of cashless method. If consumer is using different method, the capability to
conduct transact might be effected.

India is a country where 98 per cent of total economic transactions by volume are done through cash.
However, this may no longer be the case in future as the government has already steered the country
towards cash less society.
Prime Minister's demonetisation move has also divided the top economists in and outside the country over
its unquantifiable outcomes, at least for now.
COUNTRIES CASHLESS
TRANSACTIONS
1-Singapore 61%
2-Netherlands 60%
3-France 59%
4-Sweden 59%
5-Canada 57%
6-Belgium 56%
7-United Kingdom 52%
8-USA 45%
9-Australia 35%
10-Germany 33%
11-South Korea 29%
12-Spain 16%
13-Brazil 15%
14-Japan 14%
15-China 10%
• Cashless Transactions in India can be
taken up by Giving Proper information
of its usage to the people.
• Govt. should organise a proper Demo
of the New Payments systems
Launched in Rural & Urban Areas.
• The importance & Benefits of Cashless
Transaction should be explained to
users.
• Cashless Transactions Should also
take place in Education System, so
students are also aware of about it.