After the recent demonetization in India on November 8, 2016, there has been a significant rise in digital transactions and use of plastic money.
Cards replaced cash in most transactions.
(Plastic money includes credit cards, debit cards, prepaid balance cards and smart cards that can be used for any kind of payment.)
Other noticeable trends were: fall in the use of COD in online shopping and also a slump in the usual volume of transactions.
Digital wallets and plastic cards, which spread a considerable hold in the new situation, reached a good level in their usage. However, there has recently been some worries regarding security as regards digital payment wallets like Paytm and the lot.
Check out the following infographic by CouponRani.com which throws light on the rise in the use of credit card and debit card usage in India post-demonetization: