Vendors take the e-route

Vendors are taking to cashless payments. Deveshi Trehan spoke to a few vendors to find out how difficult or easy was for them to take to digital payments.

Gurugram: With the onset of the pandemic, cashless payments have taken the forefront in the retail industry. As safety and hygiene concerns rise, along with the hike in cases, consumers are opting out of cash payments. Since we now live in a world where social distancing is the normal, technology that allows no-touch payments is a savior.

The rapid widespread of Covid-19 has fastened the need for the adoption of digital payments. Vendors from all over the world have an increased demand for contactless payment methods. A matter of five seconds and the given amount is transferred from one phone to another. This seamless process seamless has been embraced by merchants across the globe.

Vendors take the e-route

I spoke to Mohan Lal, a worker at the Dairy. “When the demonetization took place, we noticed a few of our customers using these apps to pay at the store. However, the number was quite small as compared to what we’re seeing today. Because this virus can spread through touch, customers find relief in paying via the QR code technology”, he said.

On asking him if he had a hard time transitioning to this “Digital Payment Mode” Mohan said, “Initially, it was tough. I did not have enough money to afford a smartphone to support this method of payment. However, my kids taught me why the transition is important. They spent hours helping me make calls & to use an e-wallet. We worked hard to save money for this phone”.

Going around town, I realized how irrespective of their size and type, businesses are slowly accelerating their shift to digital payment platforms - right from a sabjiwala (vegetable vendor) on the streets, to a dhobi (iron-man, ironing clothes) in the market.

Faizuddin, a tailor by profession, said, “I’ve found a new friend in these e-wallets. Earlier, people used to never pay the exact amount I’d ask them to. If their bill would be of Rs. 37, they would just pay me Rs. 35. They never realized that for them it is just about a coin, but for me, it was about my livelihood. By using digital payments, I’ve overcome this hassle. As a result, my annual business revenue has doubled. I not only accept payments on e-wallets but also pay my utility bills through them”.

Recent RBI figures indicate that since 2015, digital payments per capita have shot up by five times. Moreover, according to a survey conducted by the Boston Consulting Group and Facebook, e-payments have risen since the lockdown in India.

The past few months have proved that we are truly dependent on e-wallets and net-banking since physical currency can be a carrier of the virus. Gradually, we all are adjusting our lives to this “new normal” which demands us to steer clear of crowded spaces at any cost. Considering technology enables us to carry out all our day-to-day activities, it is essential now more than ever. Everything around us has taken a digital route - how we shop, work, conduct business.

Deveshi Trehan can be reached on instagram@ https://instagram.com/shopsoutenir?igshid=f19x48j37lac