Let me now dwell on some of the major benefits of e-payments. At the macro level, it enlarges consumer market, and thus contributes to economic growth. I am sure you are all aware of the tremendous advantages of e-ticketing, for instance. The advent of B2B and B2C portals enhances transparency and facilitates better price discovery.
Further, e-banking helps spread banking facilities to areas that might, for economic reasons, have been unviable for opening a brick and mortar branch. Thus, e-banking could facilitate greater financial inclusion. At a micro level, e-payment reduces the threat of physical loss of funds to the holder of a card and for the seller too, the ease of settlement helps in better cash flow management.