Sluggish digital payment growth in small town India despite government push
Updated : October 07, 2019 07:45 AM IST
Digital payment has been one of the key features of the government's 'Digital India' initiative and online payment platforms and services have indeed spread themselves in the country. However, its penetration and acceptance in the tier-II and tier-III cities still face some obstacles, market players said.
According to Credit Suisse report, India's mobile payments market is likely to touch $1 trillion by 2022.
Despite the rise in the number of platforms that enable businesses to offer online payment experience to their customers regardless of location, instrument or mode, still there is a long way ahead as the penetration has mostly been in tier I cities.
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