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FinTech: The growth propeller for MSMEs

As an enabler, FinTech has the potential to transform the MSME industry, says Ravi B Goyal

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Ravi Goyal, CMD, AGS Transact Technologies

Last Updated : May 04 2017 | 6:12 PM IST

Beginning November 2016, a particular department in our company started receiving unusually high number of calls and enquiries from customers. The sales force went into full throttle and the product team was finding it hard to meet the excessive demand. This was the ‘card swipe machine’ department.

Demonetisation affected many people in many ways. But the most to feel the heat were small and medium business owners. Largely a cash intensive market, scrapping of Rs 500 & Rs 1000 notes and scarcity of lower denomination notes drove them to adopt digital payment tools to keep the business going. But the

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