3. To bring out solution in the form of applications to uproot Electronic Payment.

8. Individual does not have possession personally of electronic cash

9. Trusted third party, e.g. online bank, holds customers’ cash accounts

10. Off-line

11. Customer holds cash on smart card or software wallet

17. The aim is to give shoppers a single, simple, and secure way of carrying currency electronically.

23. It has Some fixed amount to spend.

26. Credit Risk

33. Growing Internet access and mobile subscriber base

34. Rising consumer confidence.

35. Convenient delivery/payment models

36. India has been one of the fastest growing country for payment cards in the Asia-Pacific region.

39. In this direction, the “Payments and Settlement System Act” was enacted .

46. Debit cards