This story now
IN Science & Technology ON 16 Nov, 2016
"India's not a third world country, it's a digital race."- Vijay Shekhar Sharma, the founder, and CEO of Paytm shared his incredible words on Digital India. He exclaimed that India is no way a third world country when it comes to digital India and it should not even allow "colonization of the internet."
In India, if you have a basic bank account, it is considered sufficient, rather privileged, and that is exactly what is changing in today's world. The only change that we wish to see is people not exchanging paper money but believing in the concept of a smart method of payment.
With a hope in our heart, this country's billion people will belong to a platform as strong as Paytm. As of now, these are the people we look forward to for inspiration.
I know it's amusing to watch these street side vendors use Paytm for taking payments. But we need to realize that 90 percent Indian consumers are likely to use digital payments for both online and offline points of sale, as per the Digital Payments 2020 report.
It is a great pride that India is growing ahead in time with the use of technology and that too at this rate. Much to your surprise, the Digital payment market size in the country is expected to touch $500 billion by 2020.
We all know mobile phones are a basic necessity and especially now that the 500 and 1000 rupees notes are banned, there is a need for people to use the digital media more.
The reports state that 81% of the Indian digital users prefer to use the non-cash methods of payment. It tells that half of India's internet users use digital payments.
As the nation is facing a cash crunch, this tea seller is proudly forwarding the service of Paytm.
What could be more feasible than buying your daily "Sabzi" from your Paytm wallet.
I am sure that the use of Paytm allows its customers to pay through their mobile app.
You no longer have to dig your pockets to give the "golgappe wala" a change. Thanks to Paytm, even your micro transactions are possible.
The one click payment site and the mobile app gives you merely 30 seconds to get done with your payments.
The users play a role in at least half of the transactions done online. You see, India is up for a revolutionary digital change.
Paytm has worked quite fine tuning the nitty gritty of starting payment banks.
Thanks to Vijay Shekhar Sharma!