The 10 Best Digital Payment Service Providers in India ‘Cashless’ is the New Formula At present, there would hardly be anyone who has not noticed the upsurge of digital payments. From demonetization to the rise of mobile wallets to Government initiatives such as UPI and Aadhaar card transactions, the digital payment industry has come a long way. Further riding the digitization train are the smartphones and connected devices which are currently the preferred payment tools for consumers.
The non-cash payment acceleration has transformed the dynamics of the industry for digital and omnipresence providers. It has also pushed the companies to diversify, collaborate, and capitalize on a flourishing revenue opportunity. Complementing this are the customers that demand quick and simple ways of transactions, which further open opportunities for service providers. The said rise has been feasible because of the proliferation of e-commerce, m-commerce, mobile POS, the willingness of customers to seek new payment channels, mobile in-store payments, digital payments applications, and voice & chatbot payments. In turn, compelling all types of service providers to boost adoption, building and strengthening partnerships, and ultimately offer esteemed services. All of this happened in no time and hence, the nation has come up with the most evolved payment system in history compared to 25 other countries. Surveyed by the FIS, a US-based