CONTACTLESS PAYMENTS – Making it Safe, Secure and Easy for a Billion Indians
Contactless payments have been emerging as a credible and innovative payment option for quite some time now. With the onset of COVID-19, digitalisation has been pushed to the top gear. Globally, the concerns of infection and role of fomites in the spread, underlined the need for contactless payments. Contactless payments have been found to relieve the users from cognitive burden and minimizes friction in processing transactions quite significantly.
India is witnessing a rapid adoption of cashless payments fuelled by active government push, architectural intervention like UPI, institutional arrangement for effective execution, and vibrant FinTech industry. This growing ecosystem is further offering a secure, safe, and convenient means of conducting cashless transactions.