Analysis of digital Payments in India in the wake of

covid 19.

The far-reaching humanitarian consequences of the coronavirus outbreak bring

about the equally devastating economic fallout. Unfortunately, the way forward is
so far unstable, as a result of epidemiological fluctuation, ever-changing
consumption behavior, and the given conditions in the worldwide macroeconomy.

However, the coronavirus crisis and social restrictions have shown that there has
never been a more critical time to be truly digital. Thousands of Americans,
Europeans, and Asians are tested positive for the virus. Governments are forced
to shut down schools and universities, restaurants and beauty salons, airports
and railway stations. They have to cancel public events, reschedule the
Olympics, and postpone the elections. Some companies have organized remote
working, while others had to cease operations.

Social distancing and isolation give a boost to online services, including e-

shopping and door-to-door delivery, distance learning, video streaming,
communication and management tools, digital banking, and more.

Cash - the best transmitter of Coronavirus.

Covid 19 will be the death of cash (& cheques)

Using cash in the period of coronavirus is an invitation to be infected. Cash is a hand to hand
currency - not being sanitised between uses. Cash was already in decline - banks have been
reducing the number of ATM's as more people use cards and "tap 'n go" and contactless
payments. Coronavirus will accelerate the death of cash - and probably checks/cheques. The
USA's plan to post a check to every person and business - and then require them to present the
check to someone else - is a recipe for further widespread infection.

Online Payment Security Market size is expected to reach USD +22 Billion by 2028, at a
Compound Annual Growth Rate (CAGR) of +14%.

This emergency situation really emphasized the importance of E-Commerce and its advantage.
Now it's time to invest on many areas such as online payment, e-cash.

Unlike many other industries, banks and financial service providers have online solutions and
technical capabilities that allow individuals to address nearly all their banking needs without even
getting off the couch or bed. Digital payment solutions and mobile banking apps are on the rise
now since even the World Health Organization asks people to prefer online payments to cash
whenever possible.

Coronavirus Outbreak Changes

the Banking Future Forever