| |AUGUST 20218Currently, India has the pivotal position in the thrilling era of digitalization. Certainly, during the previous decade, digitalization has spurred the boost, with the electronic commerce industry becoming a significant component and the digital payment system. But, India's digital environment is yet to reach to a mature level, as it is underwriting a great deal of transition driven by policy and technological adoption. The digital payment system has changed its dynamics as the poster child of the banking sector. Digital payment trends are rapidly increasing, with large battlefield companies giving cashback, incentives and offering users the chance to utilise their platforms. The increasing smartphone penetration and cheaper Internet have greatly benefited digital carriers and began to take-up a role in the lives of customers. Thanks to pandemic, not only are firms trying to acquire consumers, but the customers have started to understand how important it is to have a digital alternative of payment when shopping. The digital transaction industry is gaining momentum and exponential growth, which is also a good indication for the economy. The shift inhabit was imposed and when the demonetization declared, the entire digital payment trend grew more powerful.Impact of the Pandemic on Digital Payment COVID-19's continued spread has become one of the most serious dangers to the world economy and financial markets. To combat the effects of the coronavirus outbreak, India, like many other countries around the world, has implemented nationwide DIGITAL PAYMENTS ROADMAP IN INDIABy Bharat Panchal, Chief Risk Officer - APAC, Middle East & Africa, FISIn his career spanning close to three decades, Bharat has handled key responsibilities across companies such as AVAYA GLobalConnect, Reliance Communications, Citi Technology Services, Kotak Mahindra Bank, PCI Security Standards Council, and NPCI, to name few.THOUGHT LEADERSHIPBharat Panchal, Chief Risk Officer - APAC
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