Important Points Regarding Cash less Payment : MUST Read
Here we will tell you the 8 decisions point by point which Cabinet, Govt. of India took to promote digital economy since February 2016 which subsequently will give cashback to the customers who will pay through cards at Petrol Pump, Utility Bills etc. Most of the people says that demonetization has been done without preparation while what govt. says as per the decisions the cabinet took from february 2016 to December 2016 tells a different story. Here we will see what decisions govt. cabinet took from feb 2016 to Dec. 2016 to promote Digital and Cashless Economy :
Digital Economy Decisions by Government
1. Incentives/ Cashback at PSU Petrol Pumps
If you are Paying using your debit/ credit/ prepaid card on a PSU owned Retail fuel outlet, you will not pay any amount against transaction charge/ fee and addition to this the PSU petroleum company will provide you the cashback incentive around 0.75% in your account by which you have paid.
2. 70+ Government Departments Accept Digital Payments
More than 70 government departments accept the payments through digital ways be it be credit/ debit/ prepaid cards, net banking, UPI App etc. which includes electricity department, Utility Bills, Water Bill, LPG etc.
3. No Transaction Fee
To encourage the citizens of India to pay through cashless media like credit/ Debit cards or Net banking or any cashless media, the govt. has decided to waive off the transaction fee to free the customer from extra burden that will be levied upon them by charging a few percentage of transaction fee/ charge.
4. Pay Electric Bills Digitally
Govt. has issued clear advisory to all state, private and central owned electricity distribution companies to allow users to pay their electricity bills using cashless media like credit/ Debit Cards without any transaction or processing charge i.e. consumer will pay only for what he had consumed or as per their usage and other fixed surcharges.
5. Non-Tax Receipt Portal bharatkosh.gov.in for 237 categories
Government has introduced a new non-tax payment portal for the citizens to pay online without visiting bank or government offices for 237 categories of payments including RTI application fee, online magazine and gazette purchasing etc.
6. UPI app Launched
To let the smartphone users do the banking transactions more securely and operate their multiple bank accounts through single app, The NPCI has Launched the Unified Payment Interface (UPI) App which uses Virtual Payment Address for sending or receiving money which has already been adopted by 27 banks.
7. Aadhar Card Based Payments
To promote the concept of card less and PIN less banking, RBI instructed to make it mandatory for new Point of Sale (POS) terminals to enable aadhar verification mechanism.
8. Digital Payment System in Smart Cities
All the Mission directors of 33 launched smart cities to deploy the Digital/ cashless payment systems while designing the smart city services.
Apart from these there are many more points..