Posted on 08/11/2017
A significant new study has found that 63% of retailers in the countryside may now be inclined to use the cashless system of payment. The study reports a marked jump in the number of rural consumers willing to use mobile payments, post demonetization, on par with their urban counterparts. In locations with moderate consumption levels, there is also a significant increase in shops that are prepared to pay a transaction charge in excess of 1%.
Titled “Going Cashless?”, the research report covering perceptions, usage, and behavior, toward digital payments, pre and post demonetization, was conducted by the Centre for Digital Financial Inclusion (CDFI) at the Institute for Financial Management & Research (IFMR) in collaboration with researchers at Digital Innovation Lab, IIM Bangalore. The report was released at the IIMB campus at an event in Bangalore today, a year after demonetization.
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