Top 5 Digital Payment Trends 2021 : India
Though cash remains the king in India, the Covid-19 pandemic has proved to be an accelerator for the adoption of digital payments. Covid-19 has accelerated adoption of online payment and digital financial services as more consumers & merchants are now rely on digital ways to pay & accept.
But what’s coming in 2021? With the repercussions of the global pandemic expected to continue for some time, here are top 5 trends of the merchant digital payment space in India.
1. Digital Payment for Offline Retailers
Offline small and medium size merchants responded very well to the pandemic by moving to e-commerce, but this is just the start. In year 2020 we have seen the second wave of merchant digitisation in India after demonetisation in 2016.
In 2021 more and more retailers will come online with the emergence of low cost payment acceptance methods like UPI and mobile ePOS. There are two sides of the trade that different players are eyeing to digitise- consumer sale & supplier purchase. Below are few trends that will be observed on the either sides.
1.1. Consumer Payment (B2C payment)
In-store payment
Since, UPI has emerged as a preferred choice of payment acceptance among merchants, players like PayTm…
