Document Type : Research Article


Department of Economics, Jagran Lakecity University, Bhopal


After demonetization initiatives, most of the people in India started electronic payments for their transactions. Everyone from the small merchant to the neighboring vegetable vendor is embracing digital payment solutions. Slowly India is moving from cash to cashless economy. A cashless economy is one in which all the transactions are done using cards or digital means (using smartphones). The circulation of physical currency is minimal in the cashless economy this reduces the usage of paper which decreases the cutting of the paper tree. There are numerous benefits of Cashless transactions. The increased use of credit cards will reduce the amount of cash that people have to carry which reduces the risk of misshaping and the cost associated with that. In this paper, an attempt is made to examine the Public perception in India towards cashless transactions and the attempt is also made to identify the challenges faced by them during their transactions.


Main Subjects

  1. A. J. Itah and E. E. Emmanuel, “Impact of Cashless Banking on Banks’ Profitability (Evidence from Nigeria),” Asian J. Financ. Account., 2014, doi: 10.5296/ajfa.v6i2.6268.
  2. J. L. Peng, V. Jeng, J. L. Wang, and Y. C. Chen, “The impact of bancassurance on efficiency and profitability of banks: Evidence from the banking industry in Taiwan,” J. Bank. Financ., vol. 80, pp. 1–13, 2017, doi: 10.1016/j.jbankfin.2017.03.013.
  3. M. Osborne, A. Fuertes, and A. Milne, “Capital and profitability in banking: Evidence from US banks,” 3rd Emerg. Sch. Bank. Financ. Conf. Cass Bus. Sch., pp. 1–54, 2012, doi: 10.1186/1472-6882-14-389.
  4. G. P. Eze and S. Egoro, “Electronic Banking and Profitability of Commercial Banks in Nigeria,” J. Financ. Econ. Res., vol. 3, no. 1, pp. 2251–15, 2016.
  5. N. U. Miko, “Impact of consolidation on the profitability of banks in Nigeria,” Niger. J. Account. Res., vol. 6, no. 2, pp. 99–107, 2010.
  6. I. O. Ailemen, A. Enobong, G. O. Osuma, G. Evbuomwan, and C. Ndigwe, “Electronic banking and cashless policy in Nigeria,” Int. J. Civ. Eng. Technol., vol. 9, no. 10, pp. 718–731, 2018.
  7. J. Kwaku and M. Mawutor, “Impact of E-Banking on the Profitability of Banks in Ghana,” Res. J. Financ. Account., vol. 5, no. 22, pp. 53–64, 2014, doi: 10.1007/s11414-007-9087-x.
  8. K. M. KAMBOH and M. E. JAVAID LEGHARI, “IMPACT OF CASHLESS BANKING ON PROFITABILITY: A CASE STUDY OF BANKING INDUSTRY OF PAKISTAN,” Paradigms, vol. 10, no. 02, pp. 82–93, 2016, doi: 10.24312/paradigms100208.
  9. V. C. Olajide, “Cashless banking in Nigeria and its implications,” MPRA Pap., vol. 32096, no. June, pp. 1–19, 2012.
  10. J. Pande, “Cashless Transaction – Mobile Transaction,” SSRN Electron. J., 2019, doi: 10.2139/ssrn.3309289.
  11. P. Sarika and S. Vasantha, “Impact of mobile wallets on cashless transaction,” Int. J. Recent Technol. Eng., vol. 7, no. 6, pp. 1164–1171, 2019.
  12. M. Pranjali, A. Shendge, M. Bhushan, G. Shelar, A. Smitaraja, and S. Kapase, “Impact and Importance of Cashless Transaction in India,” Int. J. Curr. Trends Eng. Res., vol. 3, no. 4, pp. 22–28, 2017.
  13. A. Kumari, “A PC transaction ‘ paperless and cashless payment methods ,’” Int. Res. J. Eng. Technol., vol. 5, no. 1, pp. 352–355, 2018.