Demonetisation - will it help us see rising technology use in financial transactions?India has been witnessing unprecedented queues in front of the banks and ATMs. The demonetisation of Rs. 500 and Rs. 2000 notes has been a reason for joy for us as a nation united. Yes, there are several issues being faced by general public, but for the larger cause a few sacrifices are indeed needed.
Political and financial implications of the decision apart, will demonetisation drive impact the use of technology in financial transactions in a positive way? The mobile wallet companies and credit/debit card issuers have been leaving no stone unturned to reap the benefits. In fact, I have always believed in using plastic money. I would expect the rise in the use of alternative means of financial transactions like Net banking, wallets and cards. And the money so used will be accountable. That would be another advantage for the nation's economy.
What do our techian friends think, would be the implications of this huge change? Share your views so that we can have a positive discussion.