Post demonetization, India witnessed increased adoption of digital payments among its citizens. With an overnight ban imposed on high-value currents and the subsequent cash crunch, consumers, as well as merchants, had to turn to digital modes of payment. A similar trend is being observed in the country now. According to Credit Suisse report, India’s mobile payments market is likely to touch $1 trillion by 2022.
The government of India is also supporting and encouraging people to use digital payments.In a recent tweet Prime Minister Narendra Modi said“This is the time to ensure social distancing. Digital payments help you do that. Let’s listen to these stalwarts and adopt digital payments. “
Digital Payments are making transactions simple and easy for people but, It is a very tedious and frustrating job for people to enter an otp/ passwords and go through the process every time they do any digital payments on any of the apps like if we buy 4 things from 3 different platforms we have to enter the otp/password and go through the passwords thrice in that day then, is int that frustrating?
This where Simpl is Redefining the way payments are done in India, Simpl is a mobile application that provides consumers to buy now and checkout in one click with pay later functionality to build trust and provide strong buyer protection. the platform uses modern technologies to digitalise the traditional `khaata’ system, with the same foundation of trust