Challenges and Opportunities in the Adoption and Growth of Digital Payments in India: A Sociotechnical PerspectiveAhmed, MusheerYadava, Laxmi NarayanKakkar, ManishaVinimaya
India Digital Transformation Market Analysis The India Digital Transformation Market size is estimated at USD 89.88 billion in 2024, and is expected to reach USD 229.59 billion by 2029, growing at a CAGR of 20.63% during the forecast period (2024-2029). Several factors, including increased ...
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. Fina...
Also, presence of businesses on world of web, unparalleled response to it by consumers, and role of digital payments in these transactions has helped digital payments market to further itself towards newer horizons. Governments across the globe are keen to promote digital payments. For instance, ...
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 ...
Moreover, governments and central banks are eagerly facilitating digital payment systems in the country as these payments are more efficient and transparent. The proliferation of digital payments in the country is further analyzed to assist in Indonesia ecommerce growth. ...
They have also given rise to a thriving ecosystem of services – some of the most significant being digital payments, shipping, and logistics. In fact, India’s e-logistics sector is now one of the world’s fastest growing markets and is forecast to reach US$9 billion by FY2026. ...
Yes, you guessed it right. The power ofdigital marketingis mind-boggling. It is omnipresent yet it can reach the right audience at the right time thus making it one of the most powerful tools in the marketing world today. Here are some key facts and figures that tell us exactly why digi...
It is expected that UPI adoption will surge from 35% in FY 21 to 75% in the next five years, and the value of digital payments in India is expected to treble from USD 3tn today to USD 10tn by 2026, according to BCG. Prosus-owned PayU is at the heart of the digital payments revo...
One of the world's biggest markets for mobile phones is India. The government's initiative for a cashless economy boosts the digital payments scenario in the country. This exponential growth of the digital payment sector is driven by multiple factors, including convenience to pay, the ever-...