By ET Bureau | Updated: Dec 02, 2016, 01.11 AM IST
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Building on the demonetisation, the govt has launched a massive effort to ensure India starts using more of digital payments & less of cash. ET looks at the initiative
Multiple digital payments options
Unified Payment Interface (UPI)
*App-based transaction platform on smartphones
*Download the UPI app, create your unique ID, set your PIN
*Send/receive funds using this unique ID
e-Wallet
*Another app-based payment mechanism
*Link debit or credit card and use the app for payments
*Top up the e-wallet with cash and use for transaction
Cards
*Payments can be made using prepaid, debit or credit card
*Needs a PoS terminal to swipe the card
Aadhaar-enabled payment system
*Link your Aadhaar card with bank account
*Transfer funds or withdraw cash using Aadhaar number and biometric authentication
Unstructured Supplementary Service Data (USSD)
*Normal mobile phone used to transfer funds
*Mobile number linked to bank account to facilitate transactions
