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Challenges Faced in Cashless Transactions

Zambo is a global payments network built to provide one-stop solutions like domestic money transfer, bill payments, mobile recharges, and card payments to their customers. The platform is built with the intention of making money transfers as simple as purchasing a cup of tea. We have revolutionized the way people pay and get paid around the world.<br><br>We capitalize on this enormous need, which will continue to grow in view of the under-penetration of the offered services, growth of the service sector, and increase in spending power of the average consumer. The main advantages of choosing our serv

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Challenges Faced in Cashless Transactions

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  1. Challenges Faced in Cashless Transactions www.zambo.co.in/

  2. Cashless EconomyThat form of economic system in which most of the money transactions are done through electronic modes, including credit card, debit card, net banking, mobile payment, and more, is called a cashless economy. In this system, the circulation of cash (paper notes or coins) gets reduced.Cyber SecurityCyber security is the technical process that prevents unauthorized access to a computer, Internet network, or other digital devices. • Present Scenario of cashless economyOn the one hand, the use of mobile payment mediums like Zambo, and payment apps is increasing tremendously. Simultaneously, on the other hand, due to the increase in the use of credit cards, debit cards, and net banking of banks, the cashless system has increased in shops, petrol pumps, stores, and restaurants. www.zambo.co.in/

  3. Challenges: Encrypted dataThe data present during the journey from one end to the other over the Internet within digital media is encoded in 40 bit, 64 bit, or 128 bit to provide security and transmitted. It has the strongest 128-bit encryption, which will take 10 trillion years to break.Therefore, under the guidelines of the Reserve Bank of India, there is a compulsion to encrypt customer data on digital mediums through 128-bit encryption systems.Felony and Precautions in Cashless TransactionsIf the card is lost or stolen, the card should be blocked by contacting customer care immediately.Phishing Sometimes you may get Emails, phone calls, received in order to check the name & details of banks. Therefore, it is advised not to share your secret information with anyone. www.zambo.co.in/

  4. Viruses, spyware, key-logging - some spy viruses in our computers or Wi-Fi networking can monitor our activity and pass our online payment information to their controllers.Data theft from banks - Many times data is stolen from the bank's computer and server itself. To avoid this, banks should be alert to suspicious activities of their bank employees along with strong security features/mechanisms.Some general precautionsUse URLs with HTTPS:// on websites, not HTTP://. A logo of a lock appears next to the web address of such websites. If you are looking to make transactions online then register your details with the Zambo Payment Network Portal today and feel the 3D-Secure and safe transactions in few taps. Zambo provides digital transactions facilities like Phone recharge, Money transfer, Electricity bill payment, postpaid bill payments, and many more. Start using Zambo today to experience a world of hassle-free transactions. The fundamental benefits of utilizing online transactions are cost and time-saving. Expand the scope of sales and reduction of labor costs. Undoubtedly Zambo facilitates safe and secure digital transactions. www.zambo.co.in/

  5. /Zambo ContactUs /zambopay /zambo /ZamboTech helpdesk@zambo.in https://zambo.co.in/ SEC-18, 587, BLOCK C, INDIRA NAGAR- LUCKNOW UTTAR PRADESH-226016 +91-8800-880-3680522-4333736

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