Consumers’ Perception towards Cashless Transactions and information Security in the Digital Economy

Abstract

" A cashless economy is an economic system in which there is little or very low cash flow in society and goods and services are purchased and paid the amount through electronic media. A cashless economy is an economy in which transactions are made by debit cards, credit cards, e-wallet, cheques, or direct transfers from one account to another through e-banking. According to the Government of India, cashless transactions will maximize employment opportunities in the economy, avoid cash-related robbery thereby minimizing the risk of carrying physical cash. Cashless transactions will also decrease cash-related corruption and attract more foreign investors to the country. The present study focuses on the concept and methods of cashless transactions in India. Besides, the study examines the benefits and limitations of a cashless economy to the general public."