Info-tech

India moves up 8 spots in Visa’s e-payments adoption ranking

Our Bureau New Delhi | Updated on October 03, 2018 Published on October 03, 2018

Visa, a global leader in payments technology, on Wednesday announced that India ranked 28th among 73 countries in the 2018 Government E-Payments Adoption Ranking (GEAR) study.

This is up from 36th rank in 2011, reinforcing the country’s progress towards digital transformation. This is the third edition of the study after those in 2007 and 2011.

TR Ramachandran, Visa’s Group Country Manager for India & South Asia, said: “It is heartening to see the country’s efforts to drive digital payments bearing fruit. India must continue to take steps that can help us emerge amongst the world’s leading cashless economies”. Insights from this study will help India to build infrastructure and deploy electronic payment products and services.

The 2018 GEAR, an Economist Intelligence Unit (EIU) global Index and benchmarking study commissioned by Visa, ranks governments by quantifying their e-payment capabilities based on various indicators.

India leads the Business to Government category, along with Australia, Singapore and South Korea. The category refers to the ease with which businesses can calculate and make their tax payments, register and renew their registrations online and digitally calculate their pension fund contributions, thereby making those payments on a periodic basis.

At the same time, by simplifying refund and loan application processes, wherein businesses can track status digitally, coupled with dedicated digital portals to submit proposals for government procurement services, India leads the Government to Business category as well.

Published on October 03, 2018
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