“…The term 'cashless society' was proposed in the USA during middle of the 19th century to hint at a society that would rely on digital modes of payment and transactions that would replace the existing system of coins and notes (Batiz-Lazo and Smith, 2016;Batiz-Lazo et al, 2014;Schifrin, 1997;Manchester, 1997). The emergence of cashless economy can be observed through the various ways in which several countries around the world have started adopting it (Garba and Abu Tomma, 2015;Warwick, 2004;Goldman, 1998;Kiernan, 1994). With the growth of digital payment methods like credit cards, debit cards, net banking, mobile payments, etc., India is also moving towards becoming a 'cashless society'.…”