echo ''; Clamorworld » In everyday life every one of us comes across various experiences, incidents which we either don’t share with anyone or share with family members and friends. Print media, electronic media and various medium shows the news, but its ends up showing one sided of the story. We never come to know the other side of story. With so much happening every day, every second across our neighborhood, society, and world it’s difficult for the news media to cover all the news. Many times we have felt wish we could share our voice, opinion, thoughts with the world. Many a times we have felt the frustration, anger and helplessness for not being able to do anything about an incident. Have you ever felt, for a good cause, you need support, but don’t know how to garner the support and attention. So, now you have an option “www.Clamorworld.com“. This is a platform to share everything you want to. A website 100% runs by the people for the people. The world is waiting to listen to your voice, the voice which has kept you suppressed so far. If you do not want to share the incident, event personally, please send it to us at contact@clamorworld.com, and we will share it on your behalf and assure to keep your name confidential. Let’s make this world a peaceful and a happy place to live. » Clamorworld Exclusive: Payment Industry Riding The Electronic Transaction Catalyst

Clamorworld Exclusive: Payment Industry Riding The Electronic Transaction Catalyst

 

In a country which is predominantly cash based and where the physical currency comprises of nearly 11% of the country’s GDP, the Govt’s demonetisation has ushered in a new wave of electronic transaction. Choosing between standing in long queues and getting their daily needs addressed electronically, many hithertho strong believers in cash also are resorting to cashless transaction. It is therefore needless to add that the payment industry has received a big boost and there is a sudden spike in its growth trajectory.

Infact digita prepaid wallets have received great acceptance in recent weeks. Estimates indicate that some of the leading players in this segment have an aggregate stored wallet value close to 117 million. With humble beginnings as a mode of transaction for telecom recharge and bill paymentsdustry, they are the most commonly used transaction adopted even by the likes of vegetable vendors, laundry industry and even the street food vendors. Not only have these digita wallet players simplified transactions but also made electronic transfer accessible to the many Indians who are not computer literates and who might ot be able to read and write anything beyond their name. It is but obvious then that several e-commerce players have now partnered with leading wallet players.

Banks too are responding to this changing trend with focus shifting more towards banking using social media, linking bank accounts to these digital wallets, enabling direct person to merchant links and the like for a better and a quicker response time and bringing their services at par with the need of the times.

However it’s not a smooth ride yet and the payment industry does have to overcome a few challenges including the operation module and its long term impact on profitability, breaking age old habits and bridging the urban-rural divide and most importantly dealing with the pricing pressure sensibly. The need is to balance the cost of acquiring users with that of latest innovation and the resource used to remain at par with modern demands.

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