Pandemic impact: Indians shifting to digital payments to avoid spread of Coronavirus
By MYBRANDBOOK
As the adage goes 'Precaution is better than cure', it goes so true here again. Amid global pandemic and lasting lockdown, the government is making a renewed push to urge the citizens to use digital payments during this Coronavirus pandemic, for any goods or services they procure.
Simpl - a startup simplifying Digital Payments revealed that there’s been an increase of new offline to online users, who are trying out services from various e-commerce sites. There’s been a 40% increase overall in the number of transactions involving essential food items and around a 40-45% increase for medicines when compared to pre-Coronavirus days,
Many retail stores and local general stores have been reporting a major rush and spike in order because of the lockdown and as people purchase and stock essentials for use during this period, the payments are made via digital modes.
As per a recent report by Capgemini, The shift towards digital payments in India is particularly striking when the evolvement of consumer behaviour can be seen among different segments, including older consumers who have traditionally preferred cash for transactions. Eighty per cent of the older consumers in India between the age group of 56-60 years show the highest usage of digital payment channels in the next six months. This was followed by the age group of 36-45 years at 83 per cent.
Similarly, Xpay Life, a digital payment company is helping rural audiences to pay utility bills witnessed 564% growth on its platform since India has been under lockdown.
BREAKING NEWS
TECHNO TRENDS
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
E-Magazine
TECHNOTAINMENT
Airtel Xstream Play strengthens regional content library, part
Bharti Airtel (“Airtel”), one of India’s leading telecommunications
ED attaches Raj Kundra, Shilpa Shetty’s Rs 97 crore worth as
The Enforcement Directorate (ED) has seized businessman Raj Kundra's pro
MOVERS & SHAKERS
Clover Infotech appointed Subham Banerjee as CDO
Clover Infotech has announced the appointment of Subham Banerjee as its Ch
Saviynt ropes in Sanjeevi Kumar as new Sales Director in India
The cloud-native identity and governance platform solutions provider Saviy
OPEN YOUR EYES
INTERVIEWS
Check Point takes pride in providing customers with the best c
Check Point has categorized its 80 products and technologies into four main
Dell Technologies lives by its commitment of driving growth th
Dell believes in an agile approach to innovation that leverages the brighte
HOT PICK
COLORFUL rolls out an array of gaming laptops
COLORFUL launched its incredible series of COLORFUL EVOL P15 gaming laptop
Dell Technologies launches new AI-powered commercial PC portfo
Dell Technologies has launched the broadest portfolio of commercial AI lap
MAKE IN INDIA BRANDS
BEETEL TELETECH LTD.
TVS ELECTRONICS LTD.
LAVA INTERNATIONAL LTD.
LENOVO GROUP LTD.
EMINENT CIO'S OF INDIA
ICONS OF INDIA
Technology Icons Of India 2023: Sandip Patel
Sandip Patel is the Managing Director, IBM India/South Asia. He is res...
Technology Icons Of India 2023: Lt Gen (Dr.) Rajesh Pant (Retd.)
LT Gen(Dr.) Rajesh Panth (Retd.), National cyber security coordination...
Technology Icons Of India 2023: Bharat Goenka
Bharat Goenka is the Managing Director of Tally Solutions. He is well ...
PARTNER SPEAKERS
PSU
BEL leveraging next generation technologies to keep the country ahead in Defence space
Bharat Electronics Limited (BEL) is a Navratna PSU under the Ministry ...
RailTel connecting every corner of India
RailTel is an ICT provider and one of the largest neutral telecom infr...
PGCIL transforming India with its wide power transmission network
Engaged in power transmission, POWERGRID or PGCIL is a stated owned In...
VIDEOS
Top 25 Brands
Value-Added Distribution
M. TECH SOLUTIONS (I) PVT. LTD.
M.Tech is a leading cyber security and network performance solutions ...
Crayon Software Experts India Pvt Ltd
Crayon helps its customers build the commercial and technical foundati...
IRIS GLOBAL SERVICES PVT. LTD.
Iris Global services is one of the leading distribution houses that d...
ITFORUM 2024
WIITF 2024
CMO of the Year
WOMEN LEADERSHIP
EMINENT CIO's OF INDIA
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
