Go Contactless During A Crisis

Having some cash is a necessity, but diversify your digital payment options

- Bindisha Sarang

Money changes hand frequently, and cash even more so. But in times when the COVID-19 outbreak is putting entire populations under threat, and social distancing has become the norm, it does make sense to avoid transacting in cash. Some countries have already quarantined cash, while others like South Korea, have burnt, or high-heat laundered their notes. The World Health Organisation has advised switching to contactless payments too.

No wonder, the Reserve Bank of India Governor Shaktikanta Das, too, urged customers to go digital on Monday. Says Vikas Saraogi, vice president, acceptance development, Mastercard: “Given the current situation, contactless cards could provide conscious consumers with a new option to pay.” Adds Mandar Agashe, managing director and founder of Sarvatra Technologies: “Considering the current situation, contactless payments could be the way ahead, and payment modes like UPI, IMPS, RTGS, mobile wallet and net banking could contribute effectively in reducing human interactions.”