Business News›Industry›Banking/Finance›Finance›In times of social distancing, most Indians stay away from cash purchases this Diwali
In times of social distancing, most Indians stay away from cash purchases this Diwali
Synopsis
At leading brick-and-mortar retail chains including Reliance Retail, Tata-owned Croma, Vijay Sales and Sangeetha Mobiles, too, debit and credit cards, wallets, UPI and consumer finance together have become the choice for payment by consumers.
Kolkata: Cash transactions this festive season have taken a back seat. The share of cash transactions fell to around 25% on India’s two largest ecommerce marketplaces, Amazon and Flipkart, from 60-65% last year Diwali, with payments made through digital modes like the Unified Payments Interface (UPI) and cards taking the lead.At leading brick-and-mortar retail chains including Reliance Retail, Tata-owned Croma, Vijay Sales and Sangeetha Mobiles,
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