DIGITAL PAYMENTS

Principal Advisor to NITI Aayog launched a booklet titled ‘Digital Payment: Trends, Issues and Opportunities’. This is the 2^nd annual edition of the booklet which was first published in 2017.

Summary findings of report:

• Post demonetisation, the growth in digital payment gained momentum in both volume and value terms.
  
  
• Future drivers of growth of digital payments in the country:
  • Growth in mobile payments are slated to rise to $190 billion by 2023 from $10 billion in 2017-18
    
    
  • Proposed changes in the regulatory framework as per Watal Committee Report
    
    
  • Entry of global giants
    
    
  • Advancement of technology; Growth of New Products like unified Payment interface (UPI)
    
    
  
  
  
• This will present huge business opportunities for players in the digital space.
  
  

Do you know?

NITI Aayog has also initiated a short-term course on Digital Payments in collaboration with HRD Ministry under the Global Initiative of Academic Networks (GIAN) Scheme.

It was held at Mangalore University in July 2018.