Skip to main content

Cashless Business Transaction and its Future for Online Ordering/ Booking Business

online food order                                                          Pic credit :
As everything has become online and things get carried out on net platform the aeon of paper business has passed out and everything is cashless. Pen and paper work have lost their charm and significance but, yes paper work is a more reliable system for carrying out transaction. The arrival of era of cashless transactions have given rise to crimes such as unethical hacking, loss of our secrecy, forfeiture of all our important security information related to our account and so on.

Still, many folks around the world do not prefer to carry cash with themselves for carrying out general transactions instead they carry cards.

 Any field we delve into apart from table-booking everywhere cashless transaction is an emerging trend when we are travelling via metro or we order food online from home from a near by restaurant.

Types Of Cards Used To Carry Out Cashless Transactions:

                                                          Pic credit :
  1. Debit Cards(Quite Similar To Atm Cards).
  2. Credit Card(Type Of Loan).
  3. Atm Card.
  4. Smart Card Used In Metro.
  5. Travel Card Coupon Or Discount Card.
  6. American Express/Visa/Mastercard.
  7. E-Banking.
  8. E-Health Care Systems.
  9. And Transaction Digital Wallets And The List Is Unending.

 What are the Reasons for Failure of Cashless Transactions?

 As per research and recent news the penetration of cashless transactions in India is approximately 11%. Research data reveals that the main reasons for using cashless transactions and its failure are:
  1. Lack of Awareness among the common man.
  2. The seller or merchant might not be accepting card.
  3. Not everyone (especially the Rural India) is aware of the technological advancements (i.e. how to carry out e-payments, how to use ATM cards and so on). 
  4. People might consider that the account would get hacked or they might lose all their personal data.

 Why is Cashless Transaction important for a Online - Booking Business?

Reasons :

  • Most of the online food ordering restaurant businesses are nowadays getting themselves registered on the e-commerce platform, where carrying out cashless transaction is a growing trend as well as a necessity.
  • To attract large set of customers from urban as well as rural communities in India e-commerce platform should give opportunity for cash-based as well as cash-less transaction based on preference or demand of end consumer.
  • Though huge population is not equipped with the technological advancements still to attract global consumer base (from around the world) cash-based transaction is very important. Men and women belonging to Western culture or countries would mainly use cashless transactions.
  • In spite, of hacking or even third party might unencrypt all our personal security information still cashless transactions has gained immense importance and popularity among the present generation because it is fast easy and can be carried out while being at our homes.
  • When we book table online cash-less transactions eliminates the need to stand in long queues and wait for our chance to arrive.
  • Though online or cashless transactions have many risks involved still they can be made less risky using secure payment methodologies.
  • Cashless transactions are one of the most important criterions to tame or prevent the circulation of black money.

Question Arises: So how can cashless transaction help in elimination of the circulation of Black Money within the kingdom or country?
 Answer: As our money is stored in our legitimate bank accounts so we will not be able to gather illegal cash (Illegal cash means cash over which certain people would not pay any kind of tax knowingly or cash accrued via the sale of banned materials, drugs and so on).

 Summary- Cashless business transactions have gained huge importance in the present era for a table-booking business platform or any e-commerce daisdue to simplicity, technological advancements, helps in regulating the circulation of black money in the nation, eliminates the need to stand in long queues and offers a trendy way to carry out business activities.


Popular posts from this blog

Benefits Of Home Automation And Smart Appliances

Any human being living on this Mother Earth needs three factors for survival. They are food, clothing, and shelter. And when you have your own home, it is the safest place for your family members. There is seldom any home, in any part of the developed world, which does not have home appliances. In recent times, it is home automation which is the order of the day. In this article, let us discuss the benefits of home automation and smart appliances.

So, what was the first impression you got on the title? Saving money and state-of-the-art electronic appliances. Shall we look at some?
1. Benefits Of Home Automation - Savings

Let it be any smart home electronic appliance, they will save energy. Yes, they may be more expensive, but they will cut utility costs. There are some appliances which can be used for monitoring water usage. So, they can put a firm control on huge water bills.
2. Benefits Of Home Automation – Safety

When it comes to home automation technologies, prime importance is given t…

How to Clean Your Washing Machine

Are you surprised by the title? Usually, a washing machine is meant for cleaning and washing the clothes, but cleaning the same equipment, the title sounds weird. But have you noticed, sometimes, the clothes coming from the washing machine is not as clean as per the requirement? In this case, the washing machine needs cleaning. So, when you put the clothes in the washing machine, after the washing process, where does all the dirt get removed? Yes, you know that it gets out via the drain, but some residue will always remain. And there are times, you can find the light faint marks on the dark colored clothes. Now, that is an unfortunate situation and the washing process has to be done again. In this article, we shall discuss how to clean your washing machine.

Washing machine Cleaning - Steps For The Process
If you have a top loading washing machine, the process is very simple. You just need to fill the drum with the maximum number of hot water in the machine. The components are chlorine b…

Raksha Bandhan(Rakhi): The Festival of Bond and Strength

Saga of Raksha Bandhan(Rakhi)
One of the most celebrated festival in India Raksha Bandhan also known as “Rakhi” falls in the month of August. Rakhi defines the bond between a brother and sister, which is one of the most special bond of nature. According to Mahabharata “Draupadi- wife of Pandavas” tied a piece of her cloth on the wounded hands of Lord Krishna, and in return Lord Krishna Later protected Draupadi from Kauravas by supernaturally providing her with Sari of infinite length, when the Kauravas were trying to disrobe her.

From then till now this act is being practiced all over India which shows the love between brother and sister.  In this Sister ties “Rakhi- thread of strength” on the wrist of her brother which is followed by exchanging sweets and gifts to each other. By tying Rakhi she prays for the long life of her brother and lets him know that he is the most precious person in her life.  The brother then promises to be with her in every ups and downs in life and protect …