BENGALURU : Digital payments firms have seen a decline in transaction volumes, as most online services such as e-commerce, retail and travel remained suspended in the ongoing lockdown to contain the spread of highly contagious coronavirus.
The uncertainty on lifting the lockdown has also made it difficult for companies to fully assess the impact on digital transactions in the coming months. “The immediate effect of the lockdown on online payments is negative.
Most online services including e-commerce, travel (including ticketing and hotel bookings) are not working. E-commerce, apparel, movie and entertainment bookings and home décor sales contribute to the largest share, forming 40% of the total digital payment universe.