• fonePaisa Blog


    Teaming up to serve our customers better

Game changing year 16-17. Will it continue?

Written by  Siddarth Tuesday, 30 May 2017 09:47

Game changing year 16-17. Will it continue?

Phew, that was quite a financial year. We want to throw some light on what happened in the payments space in the last financial year.


Will it continue?
With the Prime Minister putting his entire weight behind digital payments, the payment
industry received a boost equivalent to the tune of a 1000 PSLV 4 rockets! With the
sudden demonetisation of 86% of the currency, digital payments pretty much
became the only way to pay for goods.

E wallet firms such as Paytm, Freecharge, Mobikwik and hardware based payment
firms such as Mswipe, Ezetap saw a surge in demand.
With close to 75% remonetisation by the end of the financial year, will digital payments
continue to surge or will India go back to its old ways of transacting with cash?

How many more? The last financial year saw quite a few important mergers & acquisitions.

A prominent few include:

1. PayU acquiring Citrus Payments
2. Ingencio acquiring EBS Payments
3. Merger of Infibeam and CCAvenue

These are pretty significant moves as it shows:

1. Consolidation is here to stay
2. Payments is moving towards omni channel.
3. Payments are no more an accessory.
They are as important as the entire product is.

We will watch the industry very closely and also be active participants. Do watch for more.




Read 1125 times Last modified on Wednesday, 31 May 2017 05:28