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The Indian banking sector has undergone a digital makeover post-demonetisation. In this era, the payment methods are one
of the few happening spaces and therefore various modes of digital payments are making their way to the cashless economy.
Payments are becoming more invisible and ecient and Indian banking sector is also initiating several uprising initiatives of
smart and easy ways of banking.
Mobile wallet apps have reported surge in transactions after demonetisation: Paytm saw more than ve-fold rise in overall
trac, MobiKwik witnessed more than 40% increase in app downloads in less than 18 hours of the demonetisation.
Transactions worth Rs 361 crore have so far been made using the newly-launched Bhim application for mobile phones.
BHIM app which was launched last December for fast and secure cashless transactions, has recorded 17 million
downloads so far.
A Google-BCG report says digital payments industry in India will grow 10 times to touch $500 billion by 2020 and
contribute 15% of GDP
5% Consumption spend
currently done digitally 20% Possible to raise digital
spend share 950m
Now have the infracture required to go
cashless. They can pay digitally, even a small
amount, since they belong to one of these
250m 350m
three categories.
BHIM USSD for feature
for Smartphone. phone users
AND HELPING MERCHANTS WITH
350m
Lower transation charges on mobile compared to
Aadhar-enable Merchant Pay for those without phone cards can persuade them to switch Lower interest
rates on credit to make them go from cash deals to
formal economy.
About the Conclave
In sync with the latest developments in the banking sector, Elets Technomedia Pvt Ltd takes the privilege to announce
BFSI Digital Payments Summit on 18th May 2017 in Mumbai at Vivanta by Taj President.
India is transforming in alignment with the digital revolution initiated by Prime Minister Narendra Modi led government.
Banking and nance segment in particular is going through a paradigm shift with some of the most remarkable Next-Gen
initiatives. The present government from the very beginning of its tenure has portrayed nancial inclusion as one of its top
priorities by launching Pradhan Mantri Jan Dhan Yojna (PMJDY) to ensure a bank account for everyone.
In sync with this, Indian banking sector came up with several uprising initiatives of smart and easy ways of banking.
Elets has decided to host the special conference in Mumbai, to explore and discuss various practices and initiatives being
introduced by the BFSI segment for promoting the usage of Digital Payments in India.This summit will focus on Indias
endeavour to transform into a cashless economy.
Focus Areas
#BFSI_Payments bfsi.eletsonline.com/digitalpayments
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About elets
elets Technomedia Pvt Ltd was founded in 1997 and is a leading institution working in ICT advocacy in development sector. It is
home to the popular media brands (print + digital) and conferences in the areas ranging from Education, Governance, Healthcare,
Financial Inclusion & BFSI, Infrastructure, Smart cities and Innovations.