India’s position as an emerging economy was hurt by the Covid-19 pandemic. Undoubtedly, the businesses took a beating but, thankfully, showed early signs of bouncing back soon enough. Digital adoption by Indian masses, especially in the field of finance grew by leaps and bounds. Several government measures to establish a digital ecosystem paid back big … Read more
Call it deep impact. The wider repercussions of COVID-19 are becoming clearer as most industries now put into motion an array of continuity plans. Payments organizations should now act urgently to moderate the damage it does to their customers, their people, their partners, and their businesses. The focus of their actions will necessarily be short … Read more
The last four months have been nothing but a roller coaster ride for digital lending players in India. Not only did the country go through the most severe lockdown (and associated demand shock) in the world, the RBI announced a moratorium on loan repayments that added to the uncertainty. At the same time, this period … Read more
Even though most people are unaware of the nomenclature ‘contactless payments’, it has been very much present around us. It is as simple as hailing a cab using a cab-aggregator. You take the ride and the payment is taken care of digitally. Now, we are just deepening the penetration of these solutions. Banking & Payments … Read more
A majority of industry professionals polled were of the view that inadequate awareness of modes and discomfort in use of technology is the primary obstacle for adoption of digital payments in India. While set-up cost and the inherent transaction charges was the second largest concern, most agreed that the Indian population is still not … Read more
An overwhelming majority of industry doyens polled agreed that the current limit of Rs. 2000 for contactless card payments needs to increase. Although many people had reservations about fraud and security breaches, they still agreed some enhancement in limit is possible, especially in light of the pandemic.
Over 67% of senior business leaders polled in an industry study opined that a return to cash payments from digital mode of payment is most unlikely. They believe that once people get used to the convenience, security and touchless method of digital payments, they would prefer to remain digital, and cash will gradually lose its … Read more
RBI has been advocating the use of digital payments due to the coronavirus crisis. Do you see a rise in the adoption of digital payments as a result of this, specifically at the bottom of the pyramid? Consumer confidence to embrace UPI as a form of payment has seen a consistent growth in the last … Read more
The on-going spread of COVID-19 has become one of the greatest threats to the economy and financial markets across the globe. To contain the impact of the outbreak, India has taken several measures, including a nationwide lockdown; limiting movement of the entire population; shutting down public places and transport, and urging the public to stay … Read more
