By: Sharanya Ranga
“Digital payments are to finance, what wheel is to transport”, so began the Watal Committee report that came out in December 2016. Rightfully recognising that we are on the cusp of a massive digital revolution, the Finance Minister in his budget speech outlined various proposals that will accelerate the pace of digitisation of the Indian economy.
By: Probal Bose
The technology disruption has made a significant impact on the pharmacy segment with the online-pharmacy market recording over 700% growth in India in the last four years. Given the nature of the pharmacy sector and the sensitivities involved in matters of consumer health, the dynamics here are slightly different from the e-commerce sector.
We take a quick look at the regulatory framework and key issues involving this nascent sector.
Existing framework for pharmacies:
By: Sharanya Ranga
Electronic monetary transactions and mobile wallets have been at the centre-stage since the Government’s announcement on demonetization. From the Aadhar enrollment, Jan Dhan Yojana for financial inclusion, mobile wallets, the rolling out of payment banks and the introduction of the Universal Payments Interface, we have been making slow but steady progress in building a strong digital payments framework in India. With the government now aggressively promoting digital payments, fin-tech players and mobile wallet companies are riding this massive business opportunity that has emerged due to the state sponsored ‘war on cash’!
With recent reports claiming that the total transaction volumes of Paytm (7 million transactions of Rs 140 crore a day) has recently exceeded that of all the plastic cards issued in the country, we may well be riding the next wave of transformation in digital payments in India. Its popularity with the younger, tech-savvy population has a lot to do with the ease of accessibility and convenience it offers, vis-à-vis