The Dept of Post is planning to launch a series of cards called theWhite Line pre-paid smart card by the India Post. They will work like debit cards to make transactions and bill payments at stores, mobile and internet. Post offices will issue these cards with denominations ranging from Rs 1000 to Rs 50,000. An easy to carry plastic money scheme. Will they be able to replace debt cards fro small time users or will they have a bigger market share ?
this is a great news.. taking a look at the bigger picture, it has various benefits. mainly it would ease the work of payments and there would be no hassles of carrying money and shelling it out at counters. more over if this is used on a large scale the corruption and black money issues can be tackled as there would be not much notes to launder.
This would ease off the burden of carrying money in our wallets. Though most of us use ATM cards to withdraw money immediately, but we need an ATM machine nearby to do so. But with these smart cards one can directly enter any purchase store and do the payments without much difficulty. Its more of like plastic money and i think its use would also reduce the thefts and other such criminal acts.
