On November 8, 2016 Prime Minister Narendra Modi in his address to the nation announced the demonetisation of Indian Currency notes of 500 and 1000 denominations from midnight, thereby, turning almost 85 percent of the Indian cash in circulation to “worthless pieces of paper” as these notes will no longer be legal tender.

With digital payments now becoming more of a norm, merchants have much to gain with the setup of a secure digital audit trail, and are already enjoying early benefits of going cashless, even as the government formalizes post-demonetization plans.

However, this transition to cashless business calls for a little more cautions.

Keep Note of Transaction Ids

Transaction id (or equivalent) is the value that is returned by the bank to identify a transaction on their system. It is always unique & you can anytime check the details of a transaction with this id. To keep track of the payments done by your customers, ask them to sms you the transaction id. Chuknu will automatically associate that sms with the lead in lead log, enabling you to easily find who paid & who didn’t.

Set Follow up Reminders

Online transaction sometimes take 48 hrs or more, make sure you don’t miss any opportunity or payment due to this time gap. Set follow up reminders for the payment from the leads. If the customer is claiming that he has already transferred the bill amount, set a reminder to check your account after 48 hrs or so. If he excused that their is some technical issue in transacting, set a reminder to follow up after sometime. One can add a reminder in Chuknu by simply clicking on the ‘+’ button available as shown here.

With India making steady progress on its digital payments journey, merchants can gradually let go of their cash-dependence and depend more on safe, secure and superfast online transactions.

Hoping for a greater India everyday. Happy Selling 🙂