Regulation Board must be set up for faster adoption of digital payments among traders: CAIT

New Delhi, Feb 9 (KNN) The government should consider to create a Digital Payments Regulation Board to ensure faster adoption & acceptance of digital payments in India among the trading community and general masses, said the Confederation of All India Traders (CAIT) on Wednesday at a seminar.

The leaders of the New Delhi based traders’ body National President B C Bhartia and Secretary General Praveen Khandelwal suggested that this can also be achieved if transaction charges levied by the banks on digital payments is waived.

The seminar was inaugurated by Rohit Singh, Secretary, Consumer Affairs and also attended by Navneet Goel, Chief Commissioner, CGST, Excise & Custom for MP & Chattisgarh besides trade leaders from Delhi and other states.

In the wake of RBI issuing digital-e-rupee reflecting intentions of the Government to create a less cash society, CAIT has announced to launch a nationwide knowledge series “Digital Bhugtan Se Vyapar Aasaan” in association with MasterCard as its technology partner.

It aims to make trading community aware about the impact of digital-e-rupee in its current business format.

Further it intends to explain them why it has become essential to adopt and accept digital payments in the business particularly when the consumers are rapidly adopting digital payments for their purchases.

The nationwide campaign will work to enable access to digital learning for Indian traders across the country including tier 3 and tier 4 cities via a series both in virtual & physical mode knowledge sessions conducted during the current year.

Senior ministers from the Government, heads of public sector banks, fintech and experts from various sectors will be invited to conduct the virtual and physical knowledge sessions that will focus on a range of topics that are important to MSMEs and traders.

These topics include challenges in digital adoption, new product innovations to help traders and businesses get online, and safety and security of digital payments.

CAIT will also join hands with national organizations of transport, MSMEs, consumers, farmers, hawkers, self-entrepreneurs, women entrepreneurs and startups.  (KNN Bureau)