Kolkata, Aug 29: KPMG India’s report titled – ‘Fintech in India – Powering Mobile Payments’, was launched on Thursday at the Nasscom India Fintech Day 2019.
The report aims to offer a thorough view of the global mobile payments ecosystem and themes, thereby drawing key learnings, addressing opportunities and challenges for the Indian mobile payments ecosystem to propel this vibrant and valued sector. The financial services sector today has undergone a massive shift towards digital. This shift has meant that new opportunities around digital financial services have opened up.
The payments business services have been at the forefront of this digital transformation. The transformation can be attributed to a combination of innovations that include robust infrastructure, evolving customer expectations, progressive government initiatives and policies and technological advancements.
Commenting on the report Manish Jain, Partner, Digital and Fintech, Management Consulting, KPMG in India said – “India today is one of the leading countries when it comes to payment transformation. The seamless integration of mobile technology and financial services has paved the way for increased digital adoption. What is made this possible is proactive participation from all the key stakeholders involved here- i.e. government, regulators, banks and financial institutions, merchants, mobile payments service providers, and investors who today have become a key enabler to leverage the mobile payments ecosystem.” (UNI)