Embracing Digital Payments – Need of the Hour for MSMEs blogs.agsindia.com
India was already at the cusp of transforming into digital economy and the pandemic has further accelerated the adoption of digital payment methods, both at consumer and retailer’s end.
According to a statement by RBI, the Digital Payment Index (DPI) in March 2019 and March 2020 was 153.47 and 207.84 respectively, indicating an appreciable growth. Additionally, the Cisco India SMB Digital Maturity Study 2020 estimated that digitalisation of small and medium businesses (SMBs) could add anywhere between $158-216 billion to India’s GDP by 2024.
Let us understand why MSMEs should opt for digital payment
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