From Digital Payments to Digital Transformation: The next BIG opportunity for India's growth!
When was the last time you bought something with hard cash? At-least I don't remember using hard cash anywhere in the last couple of months and one of the primary reason is the rise of digital payments and adoption of this technology by vendors including street side vendors. The whole world is going through a transformation in how we buy something and how we pay for it. A lot of us are shifting to buying more and more through online channels like Amazon, Flipkart, Jio Mart, Tata Neu etc. in India but the fact is that a lot of goods and services are still sold off-line or through brick-and-mortar big and small stores and even street side vendors who sell stuff on the carts in India and primarily used to take cash only. But this is changing fast, very fast! Specially after COVID-19 struck the off-line business world where everybody became very cautious to accept any physical goods even if its currency notes or coins, a lot of people switched to or were forced to switch to the digital currency modes like Amazon Pay, Google Pay, PayTM or UPI.