To make government payments through e-payment method through e-Kuber of Reserve Bank of India
Consumers want convenience; This is one of the reasons for increasing popularity in online shopping. A study conducted by Big Commerce found that e-commerce is growing 23 percent throughout the year.
In the coming years, e-commerce is expected to pick up in the Asian region. The number of digital buyers in Asia Pacific is projected to pass the one billion mark for the first time in 2018, accounting for 60 percent of all Internet users in the region. In line with regional growth, the fast growing Asian market, India shows optimistic projections for the e-commerce industry. The current active e-commerce penetration in India is only 28 percent, with plenty of opportunities for improvement.
This is a great opportunity for the business to expand their brand and significantly increase their revenue. Therefore, you need to know about the electronic payment system.
Why is it important to know about e-payment system?
The electronic payment system has grown rapidly in the last decades due to the increasing spread of internet-based banking and shopping.
As the world is advancing with technology development, we can see the rise of electronic payment systems and payment processing devices.
Online payments are instant, so it is convenient and saves a lot of time. This is important, especially today when every aspect of our lives is fast.
As the system grows, improvements will be made and more secure online payment systems are provided, the percentage of checks and cash transactions will decrease.
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