Can cards really replace cash in coming days??

The Transanctions will be more towards without handling cash, it may be either through cards or internet based transanctions. still in India 50 % of population living largely a rural areas deal in cash only, it will take its time to convert from cash to other modes of transanctions.

Yes ! I support card replacing Cash.

On acknowledging this statement few very Important process/mainstream that has to be in place like

1.Infrastructure to support the Huge population number we have in Our country.For a Country like Singapore which has limited Population the Citizen card used there is Quite successful.

2. High Security mechanism to deplete fraud ideally three layers of security check are expected & hacking proof.

3.Widely excepted transaction mode prompted by Government for all transactions.

Now when the Infrastructure is Place, the biggest menace of Black marketing, Money laundering, fraudulent Transaction, can be checked to great extend.The bankers like Ajay Banga & the banking fernity are struggling  hard to reduce their NPA & overdue on bank transaction. The signatures are manipulated. Identity of the pupil who take the unscupulous process to dupe banker could be located, it can be wrong address proof provided during account opening, leaving the town or city, fraudulent document's for example Driving Licence(people can get a DL issues paying a small extra amount) but No authentication of the person can be done as the Transport department are not equiped to store the finger prints & Retina scan of the person.The worst part the huge Legal cost the Banks incur to check & compensate

Our RBI issues currency & it has so many chest to print along this activity it has to check the duplicate notes in the market, as per a survey , in our economy it has more than Rs3000 crores of fraud notes in circulation which is slowing killing our credit of banks. The cards can minimise the currency Frauds, RBI cost of printing these notes & during round the clock regularity check.

I can go on to provide more reason to support the Card to cash, but to sum up for a healthy sounding economy cards can provide huge data on spending habits in across community to check inflation , better credit policy & best the credit situation of the country will be enhanced to great extend. The Business startup can be much faster .

Yes. Provided if we have,

• A very good Network security that enables the transaction between card, machines.
• For every transaction, every one owns a system to make use of cards (footpath vender to big merchants. It can be wireless. That's what mobile tech is planning)
• Every one (includes daily wagers) possess a system to get his money. Either through mobile networking/Bank cards)
• Every remote village is given a chance to provide a kisok(ATM).
• Mobile technology can take a major share on these aspects.(Each penny through mobiles' tranaction)