Indian Digital Payments Industry currently stands at INR 2,153 Trillion and is expected to grow at 27% CAGR to reach INR 7,092 Trillion. India is seeing a second wave of digital payments adoption after demonetization led by a huge surge in smartphones-based payments solutions.
The Payments Industry has identified select technologies such as NFC, QR Code and tokenization for new solutions in a post-pandemic world where thrust is towards contactless payments. With RBI’s new set of QR code rules, India’s payments landscape is set to alter. This post takes a look at the Digital payments Industry in India
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