The digital trend, which has picked up as an immediate aftermath of the government’s announcement to demonetise high-value currency notes, is expected to continue and create a lasting impact.
INDIA IS SET FOR A DIGITAL payment revolution and the overall payments landscape of the country is up for a complete overhaul. The digital payments industry in India are expected to hit $500 billion by 2020, contributing 15 per cent to the country’s GDP, according to the latest ‘Digital Payments 2020’ report by Google and Boston Consulting Group (BCG). The recent move by the Narendra Modi-led government to demonetise high-value currency notes to wipe out black money has only added fuel to the fire by pushing more number of people to use digital modes of payments. The trend that has picked up as an immediate aftermath of the announcement is expected to continue and create a lasting impact.
Within hours of the government’s ban on the existing Rs 500 and Rs 1,000 currency notes, mobile payment and commerce platform — Paytm — saw an overwhelming 435 per cent increase in overall traffic. The company has registered a 200 per cent hike in the number of app downloads and 250 per cent surge in the number of overall transactions and transaction value. The number of ‘saved cards’ also grew 30 per cent, pointing at a strong set of repeat customers. The company has recorded a 1000 per cent growth in money added to the wallet and a 400 per cent growth in transaction value of offline payments.
“At Paytm, we are proud to announce that we have been able to help millions of Indians adopting digital payments during the recent cash crunch. It’s heartwarming to see merchants, small or large accepting mobile payments using Paytm…,” said Kiran Vasireddy, senior vice-president, Paytm.
هذه القصة مأخوذة من طبعة November 28, 2016 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة November 28, 2016 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
'Committed to helping India achieve carbon neutrality'
R. Purushothaman on how Danfoss India, part of Danish MNC, is supporting the nation's carbon neutrality goals with innovative products
INTELLECTUAL DEPTH & ACTIONABLE INSIGHTS
Anil K. Khandelwal is a transformational leader, who invites readers to rethink leadership as a journey rather than a destination. In The Gym of Leadership, he emphasises that helmsmanship is not a badge of authority but a commitment to creating a positive impact, says Srinath Sridharan
AN INDUSTR BENCHMAR
The MacBook Pro M4 doesn't just set the bar for laptops-it becomes the bar. With unmatched performance, breath-taking design and incredible endurance, Apple's latest offering redefines what a laptop can achieve, says Sahil Mohan Gupta
The drip of good health
IV therapy seems to be a popular procedure with people in pursuit of good health and glowing skin. We spoke to medical experts about aspects to keep in mind before walking into a wellness centre to get that drip.
"MACARONS FOR THE MASSES"
CHANDNI NATH ISRANI, the driving force behind Ladurée's India expansion, redefines luxury in the F&B sector. With four flourishing Ladurée outlets established since 2021, Israni is making iconic French pastries and delicacies accessible to the Indian market. BW Businessworld sits down with the visionary entrepreneur to discuss her journey in building the luxury brand and her strategy for democratising gourmet experiences
NAVIGATING THE PATH TO PROFITABILITY: A STARTUP'S BALANCING ACT
WHEN EVALUATING startup profitability, it’s crucial to break it down into two main components: unit economics and fixed costs. Unit economics refers to the profitability of delivering each singular order, which involves analysing transaction margins against costs incurred, such as delivery and payment gateway fees. This assessment helps gauge whether a business model is sustainable at a micro level.
THE HOLY GRAIL OF PROFITABILITY
Profitability for startups is elusive, often overshadowed by growth and investor expectations. Achieving profitability requires a delicate balance between revenue generation and cost management, with factors like market dynamics and competition playing significant roles
"WE ARE FOCUSED ON BUILDING A RESILIENT AND SELF-SUSTAINING SEMICONDUCTOR ECOSYSTEM"
S.KRISHNAN, Secretary of the Ministry of Electronics and Information Technology, outlines India's ambitious plan to build a resilient and globally competitive semiconductor industry through the India Semiconductor Mission
Shaping the Future of Cyber Risk Management
With its mission to advance cyber risk quantification through the FAIR (Factor Analysis of Information Risk) model, the institute empowers businesses to align cybersecurity with broader objectives using structured, data-driven insights. Managing Director TODD TUCKER discusses how the institute’s methodologies and community-driven approach are reshaping industry standards worldwide, including growing interest in India and Asia Pacific
THE PILLAR OF A RESILIENT DIGITAL FUTURE
The rapid evolution of digital technologies has transformed the world, driving unprecedented connectivity and innovation. Yet, as the digital realm expands, so do vulnerabilities, with cyber threats emerging as critical challenges for businesses, governments and individuals
