The Union Cabinet on Thursday revealed an outline to promote more digital payments as it is safe and secure. And, government is contemplating on removing levied charges on digital payments. It additionally plans to mandate digital payments in transactions above a certain threshold.
The Cabinet outlined several short and medium term targets that will be met by various ministries towards pushing more electronic payments in the country.
“This is a masterstroke by the government following last year’s RBI’s decision to roll out payment banks. This will force companies to not levy additional charges and it should not cost more when you’re paying digital,” said, Vijay Shekhar Sharma, Paytm Founder.