| | MAY 20219shining examples of the same being the Digital India initiative, UPI, Aadhar and much more. This all is possible due to the cashless payment system. Mobile wallets, in-app, and peer-to-peer (P2P) payment options are the driving forces for a cashless society. As customers prefer the convenience of online payment technologies, businesses must rely on them to appeal to a wider range of customers. MSMEs should definitely leverage the advantages of this evolving technology, that can result is a great benefit for all. Even the payment platforms are now constantly being upgraded to make payments more secure, as well as provide additional functionalities that can improve business processes. This will help improve the MSME's credibility and increase customer satisfaction.Mobile-based commerce can greatly benefit the MSMEs community. Nowadays, consumers are increasingly relying on mobile phones for communication and shopping. Using a progressive web app with integrative tools such as GPS-related marketing, chatbots, and live stream videos can help create an experiential connective platform that engages users and draws in customers.Artificial Intelligence (AI) is a technology that is being used by various large organizations nowadays on a regular basis for simplifying their business processes. It can also greatly improve MSME's sales process. Organizations can manage and above that simplify their business sales process with the help of better digital marketing strategies, data analytics, and sales forecasts. Many MSMEs deem AI to be far too complex for their needs. However, applying machine learning algorithms to existing customer data can help business owners identify patterns and trends that otherwise will be missed.Augmented Reality (AR) is a buzzword and might seem like a novelty today, but it's already starting to make an impact in industries including realty, retail, travel, and medicine. AR enables technology to be integrated with the real world, allowing customers to see possibilities in real-time. This helps to attract new customers and enable users to make decisions quicker. The Virtual Reality (VR) and AR technologies can create synergies for the promotion of skill development activities and enhance the innovative environment. Also, implementing a small digital platform for public and MSMEs can create a huge change in people's lives and generate economic value in the industry.Based on a peer-to-peer (P2P) topology, blockchain is a distributed ledger technology (DLT) that allows data to be stored globally on thousands of servers, while letting anyone on the network see everyone else's entries in near real-time. This technology allows businesses to perform secure and private transactions without needing a third party for validation. This equates to cost savings. Although cryptocurrency (medium of exchange) is currently too volatile for transactions, MSMEs can start to look at accepting digital currency payments in the future for faster and more transparent payment processes.Though the aforementioned technologies are extremely useful for any business, but most of these are not commonplace for MSMEs. Still dedicated organizations must start adopting these trends, which in return will definitely help them to raise employee
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