Emerging Rails and Cashless Payments

Mr Narahari Narasimhaiah¹, Dr R Praveen Sam²

¹Bharathiar University, Tamilnadu, India
²Andhra Pradesh, India

Abstract

With the technological advancement, the scenario of transactions has changed all over the world. The "cash and carry" system has changed its face to the cashless system of today. The cashless exchange system has transcended all the boundaries of the currency exchange or the need of visiting brick and mortal banks. Journal publication is an effort which involves combined work of writers, editors and artists from different countries, each of them transacting in different currency. With people from so many diverse countries and economies participating together, the emerging payment rail and cashless world sounds more like the solution for the payment problems in journal publishing. This paper takes a look at various options of cashless payment available in the current scenario and if they can be used for overcoming the geographical and economic boundaries of the payment. The cashless system covered in the paper includes the current successful payment options of P2P FX, Crypto Currency, Mobile Money and even the Mobile Payment and Streamlined Payment. The paper also notes various ways the system can be altered to suit the needs of the journal publication market.

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Cite this Article as Follows

Mr Narahari Narasimhaiah, Dr R Praveen Sam. "Emerging Rails and Cashless Payments." International Conference on Interdisciplinary Research in Electronics and Instrumentation Engineering (2015): 66-76. Print.