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A Conceptual Study on Benefits of Electronic Payment System During Demonetization

International Journal of Emerging Trends in Science and Technology

Volume 5 Issue 1

Published: 2019
Author(s) Name: K. Malarkodi, S. Prasanna and R. Renukadevi | Author(s) Affiliation: Assist. Prof., Dept. of Management, M. Kumarasamy College of Engineering, Karur, Tamil Nadu.
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Abstract

Demonetization is the act of stripping a money unit of its position as legal tender. It is essential, whenever there is a change of national money. The older unit of money must be retired and replace with a new money unit. This paper suggest the positive impact of Demonetarization on Electronic payment by providing numerical data on how the volumes of transaction increased during the period in which Demonetarization was implemented in India.

Keywords: Credit card, Debit card, E-Money, Electronic fund transfer, Mobile banking, Smart card.

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