EDITORIAL Shyamanuja Das email@example.com Digtal Payment: Understanding the Shift P After more than a year, it is probably time to take a dispassionate look at the real impact of demonetization on digital payment in India. What better way than analyzing data to ensure that dispassionateness? Post-demonetization, when we were left with literally no money in our pockets, it is Paytm that most of us turned to. Some of us had Paytm accounts; some of us did not. And the only thing that separated us, the Paytmhaves, from our Paytm-havenot friends, is the use of Uber services. Yes, almost all of us had signed up for Paytm because initially, that is the only form of payment that Uber accepted. After some time, while the cab-aggregator started accepting cash, we stuck to wallets because it was far more convenient. Yet, few used Paytm for anything else. And here, I am talking of a set of people who have been using non-cash payments such as credit cards and debit cards for several years now. Why did we start using Paytm? Elementary, my dear Watson; that is the only type of payment the neighborhood kirana store accepted; that is the only form of payment Mother Diary outlets in Delhi accepted; the usage was everywhere. After more than a year, it is probably time to take a dispassionate look at the real impact of demonetization on digital payment in India. What better way than analyzing data to ensure that dispassionateness? That is what we have done, largely, in this issue’s cover story. So, what are the findings? I do not want to give them away here but can actually say this much—it does confirm the anecdotal evidence that digital payment enhanced its breadth post-demonetization, reaching sections that had never used that before. The headline on the cover would have given you that already! We have also tried to figure out what it could mean for businesses? The consumer businesses and digital payment systems support each other. Initially, the (ab)use of Uber started Paytm. Talking of Uber, at the time of writing, it is there in news for wrong reasons—for allegedly failing to report massive compromise of customer data and paying hackers to hide it. Well, when we talk of digital payments, digital business, digital India and 4th industrial revolution, we cannot close our eyes to this real threat. In case of payment, a hack could actually mean a direct financial loss to all parties November2017 | CIO&LEADER 1
S P I N E A 9.9 Media Publication FEATURE 15 must-haves for the IT leader's bookshelf Pg 34 TRACK TECHNOLOGY BUILD BUSINESS SHAPE SELF INSIGHT Volume 06 New CIO Appointments Issue 08 November2017 Pg 28 150 Demonetization did not push up digital payments but took it to the common man. What that means for businesses... pg. 06 CONTENT NOVEMBER 2017 COVER STORY 06-10| The Democratization of Digital Payment Demonetization did not push up, let alone initiate digital payments. But it managed to spread it significantly. It is now for the consumer businesses to make innovative use of the new regime Please Recycle This Magazine And Remove Inserts Before Recycling COPYRIGHT, All rights reserved: Reproduction in whole or in part without written permission from Nine Dot Nine Interactive Pvt Ltd. is prohibited. Printed and published by Vikas Gupta for Nine Dot Nine Mediaworx Pvt Ltd, 121, Patparganj, Mayur Vihar, Phase - I, Near Mandir Masjid, Delhi-110091. Printed at Tara Art Printers Pvt ltd. A-46-47, Sector-5, NOIDA (U.P.) 2013011 THE DEMOCRATIZATION OF DIGITAL PAYMENT Cover Design by: Shokeen Saifi advertisers ’ index Schneider FC Google India 11 Vodafone BC This index is provided as an additional service.The publisher does not assume any liabilities for errors or omissions. 2 CIO&LEADER | November2017
The fourth issue of the Payments & Cards eMagazine \"PCM\". In this issue we talk about the growing role of digital wallets for payments and the customer journey. Contributions from bluesource, Paysafe, UL, Amdocs, Bankable, PayU India and Sixt SE.