The pandemic has triggered a three-fold increase in the use of mobile payments in India. It is unclear whether there has been a corresponding broadening in the number of people using cashless payment. Demonetisation, five years ago this week, also resulted in a surge of cashless payment but mostly by those who already had access to it, rather than new users. However India has taken big strides since then in modernising its payments infrastructure and should be better able to reap the benefits.
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