Digital Adoption

Indian Digital Economy has seen a significant boost in recent years. Earlier, people used to shop online if only there were cash on delivery option, but now people prefer to purchase items via online or DIGITAL payment methods. Millennials have always accepted this in a very dynamic way, but when it came to people in mid-40s, then they were sceptic about it. From Paytm to Google Pay and from Card payment to UPI payments, everything has taken a right turn. Anyways, This was just an overview of what Indian Digital Economy was beforehand, but what matters is how it will tune in future.

The future of Indian Digital Economy can be predicted by looking carefully to the outside world. Soon, there will be grocery marts where you only need to register yourself, and then you have to go to the supermarket and pick things of your choice, and the total bill will be sent to you online. It is not a prediction, but it's happening in the U.S.A and has been set up by Amazon. The next phase will include payment where you need to keep your smart-phone on a device, and only the billed amount will be deducted from your bank accounts. It happens when the smart-phone is well equipped with bank data, and the tools are encrypted so that no information can be leaked or misused. A very famous Smart-phone brand is already offering this service to their foreign clients, and you will not be surprised to know the name of the brand, of course, it is APPLE. Today, small villages, stall owners have at least Paytm as an option for payment. PhonePe, Google Pay (Earlier TEZ), Paytm, Freecharge, Mobikwik are some of the most used digital payments app in India. Not only private investors are keen to expand India's digital economy, but the Indian government have also taken the necessary steps to promote the digital economy. The steps that are already taken on the part of government are "Digital India" scheme, "BHIM-Making India Cashless". All the government initiatives have turned out to be fruitful because now when we look around, people are seen more making payments through their mobiles rather than pulling out their bulky wallets.

Popular Digital Payments App In India

The reason for the growth of Indian Digital Economy also consists of all the initiatives like cashback, giveaways, scratch cards, etc. It is the time when 8 out of 10 people keep at least two types of digital payment apps in their mobile phones, and 5 out of 10 keeps more than two kinds of apps. The most common apps being Google Pay, PhonePe, and Paytm. India's Digital Economy has a very bright future because this is the era where people are curious or rather, it can be termed as impatient. As their patience goes down, they want things to be fast, speedy, and one-tap payment options like that of Google Pay are a relief to the people of this era. Scan codes are a way of attracting customers to come to your shop. 7 out of 10 people prefer to go to a shop where digital payment methods are available and the day is not far when people 90% of them will prefer to go to such shops because this is a luxury, comfort and also it is ease. The growth of Indian Digital Economy is not equal in all the parts of India, in cities like Mumbai, Delhi, Bengaluru, Chennai, Hyderabad growth can be seen the most. However, there are small towns and villages which are still not able to accept this concept but slowly it is taking place. So, the rate of growth of the Indian Digital Economy in cities is much higher than that of small towns and villages. But digitization is everywhere. You can feel it when you are outside, want to have food. Still, you don't have cash, so what is the statement that you deliver "No problem, we can pay online, so let's eat". This is Future of Indian Digital Economy for you.

"Transformation comes from acceptance, and people are accepting the digitization because it provides the ease to deal with daily activities of life."

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