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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:17 Feb 2017, 12:14:36]

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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56 pc merchants still do not accept digital payments Survey