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What's the credit/debit card penetration like in India? I recall most transactions happening in cash when i visited a few years ago. Which also led to amazon an
by dhruvrrp 9y ago
What's the credit/debit card penetration like in India? I recall most transactions happening in cash when i visited a few years ago. Which also led to amazon and flipkart offering cash on delivery payment methods.
Did something change in relation to that? coz if not then stripe is gonna have a hard time finding customers
- iamgopal 9y agoDigital wallet is the new thing.
- derefr 9y ago> Did something change in relation to that? https://en.m.wikipedia.org/wiki/2016_Indian_banknote_demonetisation https://en.m.wikipedia.org/wiki/2016_Indian_banknote_demonet...
- virtuabhi 9y agoYes, last year's demonetization changed it all. https://www.forbes.com/sites/wadeshepard/2016/12/14/inside-indias-cashless-revolution/ https://www.forbes.com/sites/wadeshepard/2016/12/14/inside-i...
- simonk 9y agoOthers have pointed it out that it may but its also for Indian startups being able to easily accept payments internationally without setting up a US company.
- subbu 9y agoWhen I started accepting online payments for simplyguest.com the percentage was less than 50%. Customers preferred to pay cash, but cash is difficult to manage, so I started pushing towards online payments. My cash collection this month was less than 2%. I am trying to avoid this as well. As businesses realize cash is not easy to scale, and if they are ambitious enough, they will push their customers towards credit/debit cards and other scalable channels.