Most people still preferred cash payments for regular expenses, especially for small value transactions up to 500 rupees. In smaller cities, 90 % of e commerce transactions still use cash on delivery payments. 70% of the people who bought a property in the last seven years paid for it partly using cash. But how on earth do you reconcile these data points with the burgeoning digital payment ecosystem?
In today’s episode for November 10th 2021, we’re trying to solve a riddle — what explains a record surge in cash when we’re seeing massive growth in digital payments?