Tuesday
September 12
2017

Digital Payments in India – The Race to Capture the Market Begins

Indians are becoming savvy at digital payment, and most companies are not wasting any time in setting up their wallets.

2016’s demonetisation may have kicked up the so-called Cashless India procession, but if numbers have ever given us an indication of where the future is headed, then the narrative has been set up rather nicely.

Experts are quietly optimistic of payment companies making the best of India’s growing mobile internet population. And the fact that people won’t be allowed to do cash transaction to a greater extent should work in favour of digital payment.

India has predominantly been a cash-obsessed nation, and when 99 percent of the economy was deprived of it, they had no option but to go digital.

Photo courtesy of pixelfusion3d.

Source: The Quint (link opens in a new window)

Categories
Technology
Tags
cashless, digital payments, financial technology, fintech, India, mobile money