Cashless Transactions And Spending Habits

Outlook Money

Cashless Transactions

Unified Payments Interface (UPI) and other digital payment platforms have made transactions cashless, and thus, more convenient than before.



Users often tend to overspend as they have direct access to their bank accounts through their mobiles and are not ‘cash-trapped’.


Simplified Payment Process

The cashless nature of UPI resonates with several people, as it obviates the requirement to carry tangible currency.


Nill Transaction Fees

UPI has no processing or transaction fees for person-to-person (P2P) or person-to-merchant (P2M) transactions, unlike credit and debit cards.


Digital Wallets

UPI and other digital transactions have found their way into our lives as digital wallets.

digital wallets

Financial Security

Exposure of one’s transaction habits and behaviours online could lead to financial security breaches, digital fraud, and identity theft. So, one must exercise due caution.