Cashless India: Dream of Future India

India is going cashless and here's why. Over the last decade mobile technology has flourished throughout the developing world much faster than any other technology. The latest offspring of mobile technology is mobile money. Mobile money is allowing millions, the ‘unbanked population ’(especially in the developing countries) to safely transfer money and pay bills without the hassles of handling cash. The exploded adoption of smart phones due to declining ASP (Average Selling Price) is resulting in an enormous surge in the number of mobile internet users in India. According to the latest report from IAMAI, titled Mobile Internet in India 2016, the country is estimated to have 371 million mobile internet users by June 2016. India will attract 65 million new mobile internet users coming onboard during the period of six months, ending June 2016. According to the another the previous report from IAMAI, the number of total internet users in India will reach 462 million mark by June 2016, a 31% YoY growth during the first half of 2016. The percentage, however, is way below than the estimated 56% YoY growth in the number of mobile internet users in India during the same period. This paper is about future prospects and challenges before India to become cashless economy.