Unlock BFSI 2.0: Covid has accelerated digital payment adoption by 5-10 yrs

Apart from accelerating its evolution in India, Sameer Nigam, CEO, PhonePe, said, "Covid has been very helpful in customer acquisition, even more than demonetisation"

The Covid-19 pandemic has done more to digitising payments in India than what demonetisation achieved, and the digital future is here to stay, said executives of some of India's top fintech firms while speaking at a webinar organised by Business Standard on Friday.

What otherwise would have taken 5-10 years to achieve for India’s digital payments ecosystem, the pandemic has done in just five months, said the panelists at Unlock BFSI 2.0, the second of a series of webinars on banking, financial services and insurance (BFSI), moderated by Consulting Editor Tamal Bandopadhyay.

The panelists concurred that the pandemic had presented