Some early pilots are running where a PoS device is being installed at the level of a village panchayat and even in temples to ensure that cash deposits move digital
Based on a report by India Briefing, over 8,000 Indian companies have registered in Singapore since 2000. Many of them register their businesses online in Singapore without even coming to the country
January 13, 2021
While digital payment adoption began to grow significantly post demonetisation, the COVID-19 pandemic accelerated this shift over the last year, according to PwC India’s Indian Payments Handbook. The total value of digital payments is expected to grow to ₹238 lakh crore by 2024-25 from ₹92 lakh crore in 2019-20, while the total volume of transactions is expected to grow to 167 billion from 42 billion during the same period, the report says.
“Growth in digital payments in India has been driven by multiple factors such as the launch of new and innovative payment products, increasing smartphone adoption, a growing need for faster payment modes, and a strong push from the Government and regulators towards adoption of digital channels, the report says. levels. “We have seen a V-shaped recovery post the pandemic, as the outbreak accelerated the shift to digital platforms. Businesses are now looking to integrate both online and offline channels in order to provi