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Abstract
This article examines the cashless transactions and its impact on Indian economy. The Indian payment system is speedily transiting to more and more IT-based systems. In the retail area, we have very high volumes of money circulation. Other than cash, one of the growing payment methods accepted by merchants in the sector is payment cards. However, the whole isometrics of moving from cash-determined economy to a cashless economy has somehow been mixed with demonetization that was aimed to extract liquidity from the system to extract black money. With the increasing acceptance of electronic payments, particularly those driving e-commerce and m-commerce, there is a growing demand for quicker payment services which, in turn, enable ease in doing financial connections