The future depends on how we plan the present.If the planning and decisions are right, the future is definitely good.
...A renowned Economist.
Digital/Online transactions refers to the transactions without involvement of paper. The transcation
may or may not be money related, which means a dealing (using electronic medium) when takes place between two parties without the usage of paper/document etc.,
is considered a digital transaction e.g. it may be placement of an order to supplier or any other such electronic form of document/paper.
But, yes generally it is related to money transaction ,with no cash involved. This means that cashless transaction between two parties.
These types of transaction are done using electronic media mainly the Internet.
So, typically, it is the “Faceless, Paperless, Cashless” economy" i.e., when a payment or receipt is done over the internet where the money from givers account is debited and received in the receiver’s
account almost instantaneously , then it is an online payment.
So, in nutshell it is:
" ----the payer-payee interface----"
There are two types of online transactions/payments:
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