Indian consumers are embracing e-commerce due to the pandemic
E-commerce payments in India to increase by a quarter in 2020. Source: unsplash.com
According to GlobalData, the e-commerce market in India is expected to grow at a CAGR of 19.6% and reach $98.4 billion by 2023.
The report highlighted that the increased shift from in-store to online spending might lead to e-commerce payments grow of 25.9% this year.
Earlier, the Indian government banned e-commerce firms from selling or delivering non-essentials products until the lockdown ends.?Nevertheless, on 5 May 2020, the restriction was partially lifted with e-commerce companies now resuming the delivery of all products across the country except areas where COVID-19 cases are high.
We’ve reported that the B2C e-commerce turnover in France forecasted to be worth €115.2 billion by the end of 2020. That would sign an increase of 11.4% compared to the previous year when the French e-commerce was worth €103.4 billion.
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
