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In India's 2019 Budget the Government proposed new policies to reduce merchant discount rate (MDR) to zero for larger businesses, aimed at incentivising low-cost digital payments at organised retailers. A 2% tax on cash withdrawals above Rs 1 crore in a year is intended to compensate banks and payments services providers. Payments industry organisations are already requesting the regulator to clarify and review the MDR waiver proposal.
Expanding Digital Payments in India
Digital payments businesses in India are growing rapidly. The volume of card payment transactions is increasing. UPI transactions are growing exponentially and yet, according to RBI data, cash in circulation has increased from the pre-demonetisation era. Currency in circulation touched a new high of Rs 20.65 lakh crore on January 18, 2019, way above the pre-demonetisation high of Rs 17.97 lakh crore. Driving digital payments adoption is important but is an MDR waiver the only solution? This session at Digital Payments South Asia will explore strategies and untapped opportunities to compete against cash and displace it with digital payments, including but not limited to:
·  Reducing the level of interchange fees
·  Easier customer on-boarding for e-payments
·  Educating and incentivising customers
·  Targeting tier 2 and tier 3 cities
·  Facilitating e-commerce digital payments
Speakers discussing the untapped opportunities to drive digital payments include:
Digital Payments South Asia includes a focused technology exposition offering a limited number of opportunities for organisations providing payment services and solutions. Exhibitors will be able to demonstrate their payments services and acceptance solutions to financial institutions, payment schemes, e-payments companies and merchants from India, South Asia and Asia Pacific markets.
Click here to view the exhibition floorplan.

 Contact us & book your space! 
Abhijit Sengupta, Director, APSCA India at 
📧 abhijit@apsca.org or 📞 +91 98310 01116 / +91 98731 30155.
Mounisse Chadli, Business Development Manager, APSCA Asia Pacific at 
📧mounisse.chadli@apsca.org or 📞 +86 15618790417.

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