India’s Digital Payments, Bitcoin Adoption Will Grow to $500 Bln by 2020, Study Shows
According to a recent Google and Boston Consulting Group BCG study, India's digital payments industry will grow to $500 bln by 2020. The key trends mentioned in the study present a viable opportunity for Bitcoin adoption to grow in the world’s second most populous country. Non-cash overtaking cash by 2023. The study includes the prediction of a ten times growth in merchant acceptance network by 2020, payment-driven consumption and not the other way round, and non-cash payment transactions overtaking cash payments by 2023. India’s payment landscape has mirrored four major global shifts that....
Related News
Digital finance has great potential to improve life for consumers and merchants in India. But the lack of familiarity has impeded digital money’s growth in the country. This lack of awareness exists despite India Prime Minister Narendra Modi’s national mission for financial inclusion. To help improve India’s digital future, the United States Agency for International Development (USAID) conducted a study identifying ways to ensure the success of Modi’s national mission for financial inclusion. The report, “Digital Finance – Beyond Cash,” examines the current behaviors and perceptions of....
The explosive Web3 growth in the country is supported by several factors, including a large talent pool, a high adoption rate and product development for global markets. The global Web3 boom is expected to add $1.1 trillion to the Indian economy over the next decade, supporting the investment-based momentum driven by over 450 in-house startups, including CoinDCX, Polygon and CoinSwitch. A recent study from the National Association of Software and Service Companies (NASSCOM), an Indian non-governmental trade association and advocacy group, highlighted India’s position as a leading global....
Africa has proven to be a hotbed of adoption for Bitcoin in 2020. But what fueled this growth? And what will next year look like? The post How The Use Of Bitcoin In Africa Continued To Grow In 2020 appeared first on Bitcoin Magazine.
A new report has found that FinTech revenue in Australia is predicted to grow at a compound annual growth rate (CAGR) of 76.3 percent and exceed A$4 billion by 2020. The research, Australian Fintech, Forecast for 2020, found that this increase was down to a reduction in taxes on investments in startups, tech-savvy digital individuals, and a rise in mobile payments. According to Research and Markets, in 2015 the Australian FinTech market produced A$247.2 million with 2016 generating further growth and 2017 predicted to continue the upward trend. The research found that there are three areas....
Offenders that use cryptocurrency for illegal activity in Australia are more likely to receive a tougher sentence. Criminals that used cryptocurrency as part of committing a crime are more likely to receive a tougher sentence in Australian courts, a new study has found. The study, titled “Crime and Cryptocurrency in Australian Courts,” published on Monday in the Monash University Law Review, found that the use of cryptocurrency in criminal activity was seen as indicating an increased “degree of planning” and sophistication, leading the court to “consider general deterrence above other....