Demonetisation has left many in a cash crunch. Though the government is taking steps to increase the flow of cash, small vendors have taken the worst hit because of this. To adapt themselves to the changing scenario, the roadside vendors are fast implementing cashless economy to get through the situation. Those who were unable to access the net are now taking the help of those who understand it and are enabling themselves to log in and keep updated.
The PoS machines are a cumbersome process and hence with the easy applications process of e-wallets and benefits provided even the small vendors are opting for this process. This is aiding them in retaining the customers and keeping their business afloat. The sellers were forced to work at lower rates as they could not turn away customers and let the products get stale.
While the fruit and vegetable vendors are implementing these digital payment methods, small businesses are making profits by using the e-wallet and payments that get them a return on their investments. Prime Minister Narendra Modi and Finance Minister Arun Jaitley have time and again stressed the usage of the digital economy. This online payment will have benefits not only for the vendors but also to the customer as it will reduce the usage of cash.
