Financial Express
- Aug 16

How contactless payments are becoming a transformational force for small retailers

By Amit Tyagi

Contactless payments for small retailers: The world has seen a huge shift in the way people make payments in recent years. The rise of contactless payments, fuelled by technological improvements and shifting consumer tastes, has altered the retail environment. The widespread usage of mobile phones, combined with the availability of Internet services, has given digital payments a boost. According to a report published by BCG and PhonePe in the year 2022, “Digital Payments in India Projected To Reach $10 Trillion by 2026.” Contactless payments provide a quick, secure, and simple alternative to traditional cash and card transactions, and this trend has boosted the growth of retailers, especially the small ones.