India is one of the fastest growing economies
However, the digital payments ecosystem needs support for increasing its reach and usage. A specific support area would be Point of Sale (POS) machines, which is perhaps the biggest channel today, to compete against cash transactions.
At the same time, the Unified Payments Interface (UPI) system could emerge as a cheaper and more scalable alternative to POS machines, because of the rising penetration of smartphones and internet connectivity. Budget 2018 can possibly provide the