Digital Payments: Trends, Issues & Opportunities
The digital payments market in India is set to become a trillion-dollar industry in the next five years, led by growth in mobile payments which are slated to rise to $190 billion by 2023 from $10 billion in 2017-18, according to the NITI Aayog. This would present huge business opportunities for players in the digital space, according to the NITI Aayog’s
“Digital Payment: Trends, Issues and Opportunities” report released recently. This spotlight is based on the NITI Aayog’s report.
Digital Payments – Definition
- The Payment and Settlement Act, 2007 has defined Digital Payments. As per this any “electronic funds transfer” means any transfer ....
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