Monday, October 19, 2015

Consecutive Holidays – Golden opportunity for alternate eTransaction Modes

Dusshera celebrations are taking place all over the country. The festival runs for 9 days which in turns translates into holidays depending on the importance in the respective States.
 There will be consecutive holidays at certain cities from 20th to 27th Oct’15. Holidays has been summarized as below.

            RTGS/NEFT as usual will be closed on Sundays and 4th Saturdays. RTGS/NEFT will be closed on 22nd October, 2015 too.
           This provides a golden opportunity for alternate eTransaction modes to be in the limelight.
            Major alternate eTransaction modes are:
  • ·        IMPS
  • ·       Card-to-Card transfer through ATMs
  • ·       eWallets
  • ·       Mobile Wallets

 ATMs might run out of cash, hence this would also encourage alternate eTransactions.
 In the festive spirit, it would be great if the Banks and Card Issuing companies waive service charges during this period.
 This would go a long way in boosting Digital Transactions in our country.