India gears up for a robust digital ecosystem as e-payments witness an upward trend

Synopsis
The payments industry, which saw unprecedented changes and challenges during the pandemic crisis last year, expects 2021 to be the year of innovation. With more small businesses adopting digital channels, India could see millions of new users enter the digital ecosystem.

The coronavirus pandemic, which crippled many sectors, has inadvertently aided India’s credentials as an innovative and digital payments market rapidly gaining in scale. Every day, more than 100 million Indians use a plethora of digital and electronic channels such as debit cards, Unified Payments Interface (UPI), e-wallets, Fastag, or Aadhaar Enabled Payment Systems (AePS), putting their trust on an intricate network of companies and technology

Ashwin Manikandan Saloni Shukla

ET Bureau

11 mins read, Last Updated:

Jan 19, 2021, 12:33 AM IST

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India gears up for a robust digital ecosystem as e-payments witness an upward trend

Synopsis
The payments industry, which saw unprecedented changes and challenges during the pandemic crisis last year, expects 2021 to be the year of innovation. With more small businesses adopting digital channels, India could see millions of new users enter the digital ecosystem.

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India gears up for a robust digital ecosystem as e-payments witness an upward trend

SynopsisThe payments industry, which saw unprecedented changes and challenges during the pandemic crisis last year, expects 2021 to be the year of innovation. With more small businesses adopting digital channels, India could see millions of new users enter the digital ecosystem.

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Synopsis
The payments industry, which saw unprecedented changes and challenges during the pandemic crisis last year, expects 2021 to be the year of innovation. With more small businesses adopting digital channels, India could see millions of new users enter the digital ecosystem.