The impact of digital payments on job creation and employment opportunities in India has been significant. It has played a crucial role in boosting employment rates and fostering economic growth in India. This study examines the relationship between digital payments and economic growth in India using...
Ant Financial and Paytm will also build on synergies in the mobile wallet front in order to offer Indian consumers comprehensive product and services and to tap the significant potential of the India mobile payment market. “With over one billion people, India’s payments market has vast untapped...
Digital Payment Market Size & Trends The global digital payment market size was estimated at USD 96.07 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 21.1% from 2024 to 2030. According to the data published by The World Bank, at the end of 2021, ove...
The payments feature is additionally supported by State Bank of India, HDFC Bank, ICICI Bank, and Axis Bank through UPI for its users of 20 million in number in India. This feature by WhatsApp makes the digital payment section more competitive. WhatsApp rolled out its payments services in ...
2 Third, government pushes for cashless payments to facilitate interoperability, plug tax leakages, and ensure the effective distribution of aid accelerated the take-up of new digital payment systems such as Wave in Côte d’Ivoire, UPI in India, and Pix in Brazil. Final...
in unbanked individuals presents a significant opportunity for digital payment providers. With a larger customer base, increased adoption of digital payments, reduced reliance on cash, and support from financial inclusion initiatives, digital payment vendors can expand their market, foster innovation, and...
where close to 80 percent of our orders are cash on delivery, and we have seen very encouraging improvements now on Lazada Wallet and other digital forms of payment. This is a stark contrast to my experience in the United States, where cash on delivery was not an existing payment option. ...
Ready to fuel digital payment growth To ensure the continued widespread adoption of biometric smart cards, it is important that all fingerprint biometric sensors are deployed with anti-spoofing technology while being optimised for user experience. Fingerprint biometric cards, when combined with anti-spoof...
India introduced digital Trade Receivable Discounting System (TReDS) platforms in 2017 to help SMEs overcome late payment issues, with three licensed entities expected to reach $25 billion in throughput by FY 2024-25.
According to the OECD, the majority of the global digital workforce is situated in Asia, with India leading (33 per cent of English-speaking online platform workers in 2021), followed by Bangladesh (15pc) and Pakistan (9pc). The United Nations Economic and Social Commission for Asia and the...