Money matters

This is old post of mine but makes perfectly sense in today’s context in India post demonetization and drive for digital economy

R' Cube

The past decade was the time when Credit cards reached the masses and a lot of banks moved from the traditional on-premise banking to online banking and debit/credit cards. Almost a century old practice of using paper money was replaced overnight with credit cards and debit cards.  People started actively using plastic money rather than the paper money. The wallet got shrunk for some time and people found it greatly helpful not to be carrying wads of money but were able to easily buy stuff without much fuss and not worrying about the need to have exact change. Of course there was security concerns on what if someone stole your card or the information and siphoned out your hard earned money. Cash transactions had become a thing of past and card money was in vogue. But the problem here again was people started accumulating cards from different banks and again…

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