In 2013, TCS had announced receiving an over Rs 1,100- crore multi-year contract from the Department of Posts
Customers of SBI can use the YONO app on their smartphones to withdraw cash from SBI ATMs, or YONO Cash Points,
Tokenisation of debit and credit cards: All you need to know about how to do transactions through mobiles and tablets safely
Tokenisation differs from encryption significantly.
Cash crunch: Cashless economy is still far away; govt hasn't done enough to push digital transactions
The steps thus far taken by the government are few and unsubstantial like 0.75 percent cash back on card payments in petrol bunks, waiver of user charges for online booking of rail tickets, etc.
Increasing number of PoS terminals and ease of doing digital transaction will increase this level further, SBI report said
To augment card acceptance infrastructure for use of debit cards, a major drive was undertaken between December 2016 and March 2017, resulting in an increase in PoS terminals
After note ban spike in digital transactions was mostly due to lack of an alternative option. When cash returned, people went back to their old ways
To encourage purchase of PoS machines, the excise duty payable on acquisition of POS machine which was earlier 16.5 per cent has been waived till March 31