India s e-payments space: A dawn or down of retail in India?
With the government unwilling to foot the bill on digital transactions and no viable business model for banks, there are no incentives for banks to maintain the UPI infrastructure
The payments space in India is tangled in various knots and there are many teething issues that will arise in the future
Technology companies like Google, Facebook, and Amazon are now in a new competition amongst themselves. There is a race to digitise small businesses in India by opening digital storefronts.
More than 90% of Indian retail is unorganised and large organised retailers have not been able to crack mom-and-pop stores in India called Kiranas. They also hold an undisputed sway - 98% of the grocery retail market. Therein lies the unique opportunity to make them a part of the formal organised ecosystem.