Question

Which of the following is/are modes of cashless transactions?

• A. Credit card
• B. Draft
• C. Cheque
• D. Mobile payment

Answer 1

Answer: (A), (B), (C), (D)

The correct options are
A

Credit card

B

Draft

C

Cheque

D

Mobile payment

These are all modes of digital transactions where one need not carry currency notes or coins of a large sum with them. In cashless transactions there is no flow of cash between people. Every transaction takes place through electronic media or credit cards, bank transfers, cheques, drafts etc.