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What is Cashless Economy

Innovative Strategies for Implementing FinTech in Banking
Is a system where any type of money transactions are done through digital means like debit cards, electronic fund transfer, mobile payments, internet banking, mobile wallets.
Published in Chapter:
Fintech Challenges and Outlook in India
Neeta Baporikar (Namibia University of Science and Technology, Namibia & University of Pune, India)
Copyright: © 2021 |Pages: 18
DOI: 10.4018/978-1-7998-3257-7.ch008
Fintech refers to the novel processes and products that become available for financial services due to the digital technological advancements. Fintech includes technologically enabled financial innovation leading to new business models, applications, processes, or products with an associated material effect on financial markets, institutions, and financial services. India is transitioning into a dynamic ecosystem offering Fintech start-ups a platform to grow into billion-dollar unicorns. From tapping new segments to exploring foreign markets, Fintech in India is pursuing multiple targets. The traditionally cash-driven Indian economy has responded well to the Fintech opportunity, primarily triggered by a surge in e-commerce, and Smartphone penetration. However, India's growth is still not comparable in scale to its global counterparts but is stacked well, due to a strong talent pipeline of the tech workforce. Hence, adopting an exploratory approach, based on in-depth literature review, the chapter aims to identify the challenges and deliberate on the outlook for Fintech in India.
Full Text Chapter Download: US $37.50 Add to Cart
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India Towards a Cashless Economy
Cashless economy refers to the economy where transactions are done using digital payment methods instead of using cash.
Full Text Chapter Download: US $37.50 Add to Cart
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