Dezan Shira & Associates：2017年印度数字支付展望报告(英文版).pdf：-www.deekpay.com

Title: A Glimpse into the Future: Dezan Shira & Associates’ 2017 India Digital Payments Outlook Report

The rapid growth of digital payments in India has been a subject of interest for businesses, investors, and policymakers alike. In 2017, Dezan Shira & Associates, a leading international tax and advisory firm, released a comprehensive report titled “2017 India Digital Payments Outlook,” which provides valuable insights into the burgeoning digital payments landscape in the country. This article delves into the key findings and projections of the report, highlighting the potential of digital payments in transforming India’s economy.

The report begins by providing an overview of the digital payments ecosystem in India, which has witnessed a significant transformation in recent years. The government’s push for a cashless economy, coupled with the increasing penetration of smartphones and the internet, has paved the way for the growth of digital payments. The report highlights that the demonetization drive in November 2016 played a crucial role in accelerating the adoption of digital payments among the masses.

One of the key findings of the report is the projection of the digital payments market in India to grow at a compound annual growth rate (CAGR) of 20% between 2016 and 2022. This growth is attributed to several factors, including the increasing smartphone penetration, the rise of e-commerce, and the government’s initiatives to promote digital payments.

The report identifies several key players in the digital payments space, including:

1. Unified Payments Interface (UPI): Launched by the National Payments Corporation of India (NPCI), UPI is a real-time payment system that allows instant money transfer between any two bank accounts using a mobile platform. The report highlights the growing popularity of UPI, with the number of transactions increasing from 17 million in September 2017 to over 1 billion in September 2019.

2. Mobile Wallets: Mobile wallets like Paytm, Google Pay, and PhonePe have gained immense popularity in India. The report estimates that the mobile wallet market will grow at a CAGR of 30% between 2016 and 2022, driven by the increasing use of smartphones and the convenience offered by these platforms.

3. Digital Lending: The report highlights the growth of digital lending platforms, which provide quick and easy access to credit for individuals and small businesses. These platforms leverage data analytics and machine learning algorithms to assess the creditworthiness of borrowers, thereby reducing the turnaround time and increasing the efficiency of the lending process.

The report also discusses the challenges faced by the digital payments ecosystem in India. These include:

1. Lack of Financial Literacy: Despite the growing adoption of digital payments, a significant portion of the population still lacks the necessary financial literacy to use these platforms effectively.

2. Cybersecurity Concerns: The increasing use of digital payments has also raised concerns about cybersecurity, with instances of fraud and data breaches becoming more common.

3. Regulatory Hurdles: The regulatory environment for digital payments in India is still evolving, and the lack of clear guidelines can pose challenges for businesses and consumers.

In conclusion, the Dezan Shira & Associates’ 2017 India Digital Payments Outlook Report provides a comprehensive analysis of the digital payments landscape in India, highlighting the immense potential of this sector in transforming the country’s economy. The report underscores the need for continued government support, investment in infrastructure, and efforts to enhance financial literacy to ensure the sustained growth of digital payments in India. As the country moves towards a more digitized economy, the insights provided by this report will be invaluable for businesses and policymakers alike.