Digital payments growth: India’s stunning stride3 min read 21 Jan 2022, 03:32 PM IST
Indians are adopting digital payments at a scorching pace. This digital stride has left China and a few developed country markets trailing digital transaction numbers
Back in mid-2015, Nandan Nilekani made a presentation in Mumbai and a few other cities, articulating what he reckoned could be a “WhatsApp moment" in finance for India. Smartphones, he said, were going to be the banks for Indians. That would mean smartphones double up as a bank branch, and e-commerce replaces the conventional shopping experience. Government transfers made on digital channels, Nilekani predicted, promised a systematic redesign for reducing corruption. Prescient, you may say.
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