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56 pc merchants still do not accept digital payments: Survey

As much as 56 per cent 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

IANS, New Delhi [ Published on: February 17, 2017 12:14 IST ]
demonetisation
56 pc merchants still do not accept digital payments Survey

As much as 56 per cent 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, a new survey has said.

"More than half -- 56 per cent -- 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," a Confederation of Indian Industry (CII) - Deloitte India survey said.

The study titled 'Demonetisation for Merchants - The Promise, Potential and Practicalities' 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. 

Sixty-seven per cent of the merchants who accept digital payments said that they did so because of customer demand post-demonetisation.

"Customer demand and convenience are the primary reason for merchant's to accept cards and mobile-wallets," it added.

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