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From cash to cashless transactions 💰📲 Microfinance institutions have gone cashless for loan disbursals and the collection as MFIN reported a 3% increase in the cashless collection of loans from Q3 FY 21-22 to Q3 FY 22-23 Loan disbursement is referred to the process of MFIs sending loans to customer bank accounts, while collection is the process of field officers collecting weekly EMIs from customers. The rise in cashless payment modes in microfinance institutions is attributed to benefits of r
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Cashless transactions are on the rise, driven by smart devices, booming online sales and the need for contactless payments during the pandemic. AB Magazine look at the statistics here. https://bit.ly/35L6E6v | ACCA
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