PayNearby has been recognized as a thought leader in digital payments and branchless banking. Our founders views are regularly sought by media. Read more
We are offering financial training programs with our retail partners better known as ‘Digital Pradhans’, which will help create awareness about various financial products that are beneficial for rural audiencesRead More
Small retailers have little choice but to seek cash from customers as their suppliers are demanding payments in cash. A look at the digital payments data for April paints a dismal picture as all but AePS have seen volumes crashRead More
The segment of the population that the government is making transfers to anyway deals in cash. So right now, cash is in because there is no other option.
Cash in circulation in the economy has also grown since the beginning of the financial year 2020-21 by 3.6% to ₹25.35 trillion as on 1 May. A look at the digital payments data paints an abysmal picture as all but Aadhaar-enabled payments system have seen volumes crash in April.
“Aadhaar-enabled payment system (AePS) was thought to be poor man’s fintech, but covid-19 has blurred that distinction,” said Anand Kumar Bajaj, chief executive of PayNearby, a firm that provides digital banking services.