7. Journey
Paper based instruments (cheques, drafts, etc)*
Electronic instruments and other instruments,
such as
Mobile banking
ATM based
Point of sale terminals
Online transactions
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33. Trends set to transform the payments landscape
in India over the next five years
Technology will make digital payments simpler;
Merchant acceptance network to grow 10x by 2020;
Payments will drive consumption- and not the other way
around;
Consolidation will drive ubiquity;
Modified UPI will be a game changer.
Digital identity to accelerate customer acquisition;
Cash to non-cash ratio will invert over the next ten years;