India has a lot of potential for electronic payments. What is the potential? By 2020, India’s third-largest Asian economy is expected to have a $ 500 billion mobile payment market that will account for 15% of the country’s GDP.
India’s electronic payment should be achieved jumping development, how to say? General electronic payment means by bank cards, ATMs, people can finish the deposit and withdrawal by barcode scanning easily etc., to the development of the Internet to pay, and then to today’s mobile Internet payment. India can jump directly to mobile Internet payments, and even block-based technology-based digital money payment phase. Because India is not out of date in computer, including Internet-based technology research, even with the United States. India has the development of electronic money jumping technology and strong technology.
India has begun to study and focus on block-chain technology. Indian financial officials said the use of blockchain can make electronic payment security, can not be cracked and transparent. Blocks are like Uber and Airbnb, eliminating the need for ‘brokers’, a person who wants to rent or call a car, and another person has a house to rent out or have a car to provide, the block chain is to get them together, Form an electronic contract. Perhaps in the future, India’s blockchain technology to promote a large area, the existing mobile payment tool will be completely subversive. India looks very far in the field of payment and sees the future.
The face of India’s $ 500 billion electronic payment market, apparently relying on existing Indian domestic forces is difficult to meet. And bluntly said that China Mobile’s electronic payment has been completely ahead of the world. In addition, with India’s proximity to the regional advantages, China is the best country to pay India’s $ 500 billion in electronic payment cake.
China’s Alipay, WeChat Payment and other mobile payment tools companies must carefully study and analyze the Indian market, firmly grasp India’s efforts to vigorously promote the development of electronic payment market a rare opportunity to occupy the Indian electronic payment market. This will not only be able to share $ 500 billion in electronic payment cake problems, but also to promote Sino-Indian cross-border trade development will be of great benefit.
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