Tap, Scan & Pay

If one thing Millennials are keen on developing, then it is a cashless society.

- Maitri Panchal

The raging generation is redefining the way we conduct our daily finances. Since a very long time, we have been striving to create a digital society. But after the long and tedious struggle, we have just scratched the surface. We might have adopted the idea of plastic money, but it is soon going to be a thing of the past. Digital Wallets. The new fad in the world of finance is stepping up and taking over.

The extensive use of digital wallets is leading to a cashless digital society. Even the world of banking is now embracing wallets of the new era. The tech takeover in the world of finance is changing the way we perceive money and most importantly the way we conduct our transactions. Think about it. The next generation will be tapping their smartphones to conclude their transactions. Your smartphone is your wallet. Sounds slick and futuristic? But the future is here.

THE PREVAILING SITUATION:

Traditional leading brands such as Visa, Mastercard are all making efforts to meet the essential trends of the industry. They are applying strategies to keep their customers engaged by collaborating with brands to provide an efficient and a personalised experience. According to recent stats, tech-savvy millennials are ready to give up their traditional banking apps in favour of new digital wallets in no time. This is leading to the creation of a cashless society. But will a society run by digital wallet be a luxury or a necessity for us? Let’s understand how digital wallet will impact the customers as well as business owners.

DIGITAL WALLET FOR CUSTOMERS:

SECURITY: