payments

India is expected to become the worlds third-largest consumer economy with a size of USD 400 billion in consumption by 2025.

Having multiple payment systems in an omnichannel ecosystem will translate into operational issues in managing disparate systems and a high cost of payment processing as each provider charges differently.

The size of the digital payments industry in India to be $500 billion by 2020. Thats 10X of the current levels.

Digital Payment was yet another topic that was touched at IReC 2017. The digital payments is one the emerging verticals in the country, and is expected to touch USD 500 billion by 2020.

Attacks on POS systems has been growing over the past few years, with new breaches such as Code Red, SQL, and Slammer moving in, affecting both, small retail shops and large hotel and restaurant chains

With this new technology, it removes the hassle to enter the CVV and auto-reads the OTP sent on mobile phones.

Payments are an integral part of shopping. The modes of payments have been enhanced by the introduction of plastic money plummeting the use of paper money. With an array of options available, shopping has become much convenient and exciting.