In a cashless economy, most transactions take place online utilizing credit cards, debit cards, e-wallets, and other digital payment methods (such as ECS, NEFT, RTGS, USSD, UPI, and Aadhar-based payment systems). India is making a concerted effort to transition to a cashless transaction economy by reducing the use of actual currency. Eliminating black money is the main benefit of developing a cashless economy. The best method of moving to a cashless economy is to digitize transactions.