In the current environment there has been significant growth in adoption of contactless payments, both globally and in India.
The value of transactions on the Unified Payments Interface, a platform created by India’s largest banks in 2016, reached an all-time high last month as people feared to handle banknotes amid the pandemic.
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The unprecedented crisis triggered by the coronavirus pandemic has severely dented Sri Lanka’s economy, causing a steep fall in the earnings from tourism, remittances and outflow of foreign investment, the nation’s central bank has said.
A number of people who were earlier used to paying their utility bills in cash may have shifted to the digital channels during the lockdown, they added.
In this worldwide 'lockdown' situation enforced for preventing COVID-19, expatriate Bangladeshis are relying on online-to-wallet money transfer service to send remittance to their loved ones back home.
Paytm, India’s largest digital payments and financial services company has entered into a strategic partnership with Indian Oil Corporation Limited to enable digital transactions across its fueling stations as well as LPG cylinder delivery ecosystem.