56% Merchants Still Do Not Accept Digital Payments
As many as 56 percent of the merchants still do not accept digital payments because of the risks and cost of handling cash along with a fear of income loss after adopting digital payment solutions, highlights a Survey.
According to a Survey conducted by Confederation of Indian Industry (CII) and Deloitte India, "More than half 56 percent of the surveyed merchants still do not accept digital payments. Fear of an income loss can be a key determinant for merchants to adopt digital payment solutions. Reduced time, risks and costs of handling cash is another reason."
The study was titled 'Demonetisation for Merchants - The Promise, Potential and Practicalities'. It was conducted to gain an understanding of changes after demonetisation and focussed on two modes of digital payments cards (debit and credit card) and mobile wallets.