Already 100% Cashless Campus LPU has Wide Usage of PayTM

JALANDHAR, India - Dec. 14, 2016 - PRLog -- Perhaps Lovely Professional University (LPU) is among the few universities in India, students of which are not affected at all through Prime Minister Narendra Modi's demonetization step. The reason is that LPU students are already living a cashless, paperless and almost online campus life. Students express that through its foresightedness and being innovative and high-technology oriented; LPU is following almost all online payment procedures for the last 4 to 5 years, and through 'PayTM' for 1 to 2 years. Following the demonetization announcement, long queues were seen and still can be seen outside banks and ATMs for exchanging, depositing old currency and withdrawing new currency notes. However, LPU students never had hassles as they pay their fees online, make payments to vendors even of small amount, say of Rs 10, by using Paytm.

Moreover, for LPU students' day to day small expenses, students need little amount in cash which 58+ ATMs and 5 national and private banks at the campus, along with post office, are sufficient to cater to their needs. LPU has online fee management system through wide service options. Students can use ATM, Debit/Credit Cards and also Net Banking with no convenience charges. LPU has internet partner gateways with PayTM, PayU, Karur Vaisya Bank, ICICI, HDFC and more.  Visualizing this smoothness, it is now being cherished all around that other universities & institutions should take LPU as an example in this context.

LPU students also hold that Indian government is endeavouring to guide all and sundry towards digital transactions so that there should not be any point left for unaccounted money.  On these lines, enthusiastic LPU NSS students are also volunteering in educating non technical people as how to go for cashless transactions in easy ways. So, LPU students are eager to see a total cashless Indian society existing in a safer and secure environment. Some of the activities undertaken by LPU-NSS students under government projects are: Bank queues awareness; Class IV Awareness Campaign; Presentation regarding cashless society; and, more. Volunteers are also ready to bring digital village awareness during their NSS Camps in adopted villages.

LPU students share: "We want this solid phase of demonetization should accelerate a move towards digital financial economy where every single credit/debit transaction will be made through mobile phones or through other modes as we are enjoying now. That time is fast approaching when even ATMs, debit and credits cards will also become outmoded leaving space to digital transactions only. The need of the hour is to learn such types of transactions, including e-wallet, as soon as possible" One of the LPU MBA students Rahul Sharma, who hails from New Delhi, says: "If last date to pay the fee is at hand, or a situation is like "note bandi" and we are running low on time, there are no worries. Such easy, fast and secure facilities are there at the immediate help to go through online transaction." Another student Chintamani from Hyderabad shares: "At LPU, one has not to wait in long queues or stand for hours to deposit fees, instead go for online transaction or "Paytm Karo" from the comfort of anywhere, anytime."

LPU Chancellor Mr Ashok Mittal shares: "In this current cash flow deficit period in the country, our students are feeling relaxed above all. Whether international or national, all students at LPU have greeted PM Modi's movement of demonetisation on positive notes." Mr Mittal also shared: "This trend is certainly heading in the right direction if movement is towards a cashless economy. However, the speed of technological development makes many fear cyber-attacks on making digital transactions. For this, I personally feel that companies, customers, and the government should collectively participate and share responsibility to control cyber-attacks through wide awakening. Companies should increase awareness among their customers of the risks, and educate them on ways to secure themselves."

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