According to recent research, cash accounted for <15% of the total E-Commerce payment methods in India, expected to reach the lower single digits by late 2021.

And that’s good. Mostly because:

Cash is not free: We pay fees to access cash at ATMs, money is spent in transit to banks and ATMs, time is spent in long queues, loss due to theft or calamity, and importantly the opportunity costs

Go Global from the comfort of your backyard: Leads to a far-reaching audience base

Convenience: Faster transactions, attractive discounts, and waivers, safety features

Better economy: Lesser issues of illegal hoarding and counterfeiting. Increased revenue for the Government

Could this be a turning point for India’s cashless journey? The lockdown has offered a solid launchpad to spiral this uptrend.