Eyeing an aggressive push towards cashless payments, discounts on debit and credit card transactions are being offered by banks and payment companies to cash in on the ban on Rs 500 and Rs 1000 denomination currency notes. ICICI bank is giving additional credit limit of 20% on select credit cards, Snapdeal is offering an additional 10% discounts through card payments while card company American express is giving a Rs 1000 credit back on new card approvals. Upcoming payments bank, Paytm, in its huge advertisements is offering more cash back for making payments through its application and wallet. Adaption to digital cash will now find a sweet spot among public at large as a precursor to counter similar occasions while they leverage the immense convenience and seamless interoperability it offers. Zeta, a year-old start-up in digital payments (online and offline) and employee benefits space, helps consumers shop at merchants through its digital meal vouchers, medical reimbursements, gift cards and gadget cards.

Source: Hindustan Times November 10, 2016 09:22 UTC