Awareness and utilization of cash less system in Hisar district: A review

Abstract

Application of Technology has transformed the lifestyle of the people and the whole world is reliant on it. In service sectors like banking, education, health, retailing, etc. technology has become the main player (Hugar and Basavaraj, 2014). Integration of cash less in the banking services with the technology has given rise for new ‘technology-driven’ services. Credit card facility of banks combines technology with the flow of credit and serves the needs of customers (The Times of India, 2010). As civilization progressed, the support systems in the society got transformed with improved techniques and technology. Today, the technology has transformed cash system from traditional, manual system to modern technology–driven industry (Goyal, 2008). In this transformation, the role played by cash less system is very significant. India is one of the fastest growing economies in Asia and with this emerging state people are using cashless payment methods for purchasing goods and services.