'Go cashless', banks, e-commerce, fintech companies tell customers
Prime Minister Narendra Modi announced the decision to withdraw Rs 500 and Rs 1000 notes from the system last week, which has created a mayhem outside banks and ATMs as people scurry to exchange or withdraw money.
Banks, e-commerce companies, and mobile wallet providers are asking their customers to go cashless, in the aftermath of Prime Minister Narendra Modi's decision to withdrw Rs 500 and Rs 1000 notes from the system last week.
While the banks were supposed to be equipped with Rs 100 (now the highest denomination of the rupee), long lines outside banks to deposit or exchange the now-demonetized bank notes, and outside ATMs to withdraw cash, has left many confused and angry.
Banks, e-commerce and mobile wallet companies have risen to the occasion, and are asking their customers to go cashless to make payments for their purchases, through e-mails. Mobile wallet provider, PayTm was one of the first responders to the government's clampdown on black money and terror funding. They released the punchline 'ATM nahi, PayTm karo', and was also quick to release a new TV ad campaign.
Payments solutions provider MobiKwik, in a mailer titled 'Still standing in queue to book your bus tickets? Pay cashless with MobiKwik' announced atleast four different cashback offers for its customers.
Furniture e-tailer Pepperfry announced its 'Cash me not' sale' dishing out a 51% discount on all electronic payments, for its customers.
Flipkart wants its customers to #LiveCashFree, and announced a 10% discount on debit and credit card payments in an e-mailer titled 'Go cashless today'.
​Amazon.in released the 'Cashless' promotional code to offer 15% discount on gift card credit.
HDFC Bank and ICICI Bank took up the opportunity and urged their customers to download their mobile app or the Unified Payments Interface (UPI) app.
HDFC Bank, in an e-mail, wrote to its customers about 'three ways to #ForgetCash when you eat, shop pay & recharge'.
ICICI Bank was offering a free cappuccino to its customers in exchange of downloading their mobile wallet app Pockets.