By Naveen Surya
Alternate instruments are the safest owing to their ability of being tracked and accounted for. The transactions done using alternate instruments are subject to a pin or pass code, which the owner of the instrument is supposed to use as some means of authentication. Once the transaction is authenticated, it leaves a digital trail, which can, at any point in time, be tracked to the vendor or the device, if misappropriated.
Unlike cash, alternate instruments ensure that no transaction takes place without proper verification and, more importantly, a credible trail is ensured to trace the transactions.
Naveen Surya is Managing Director, ItzCash Card
