(The Gist of PIB) Merchant Digitization Summit 2021

(THE GIST OF PIB) Merchant Digitization Summit 2021


Merchant Digitization Summit 2021

  •  FICCI and UN-based Better Than Cash Alliance hosted Merchant Digitization Summit 2021.
  • Towards Atma Nirbhar (Self Reliance) Bharat with a special focus on Himalayan Regions, North East Regions and Aspirational Districts of India.

Key highlights:

  • The Summit brought together leaders from the public and private sectors to accelerate responsible digitization of merchants in India’s North-Eastern and Himalayan regions and Aspirational districts.
  • It focused on empowering women merchants who play critical roles in their communities.
  • This Summit is part of the series of Learning Exchange amongst all States and Union Territories under which DEA had also co-organized the webinar titled “Unlocking the value of Fintech in promoting Digital Payments’.
  • There was the consensus during the event that an industry-level approach was required to address the unique and fundamental challenges including gender targeting in national, regional and state-level merchant initiatives.
  • The participants agreed that the National Language Translation Mission can be used to disseminate digital payments information, privacy clauses and consent in local languages for trust and empowerment.
  • They also identified opportunities to address the challenges of connectivity, access to smartphones, and digital literacy for merchants at the last mile.
  • From an average of 2-3 billion digital transactions monthly, India has set an ambitious target for 1 billion digital transactions per day.
  • Person to merchant (P2M) digital payment transactions will scale to 10-12 billion transactions every month to contribute to India’s digital economy.


  • Along with the increased focus on ‘Make in India’ through Atma Nirbhar Bharat Scheme, responsible digitization must more strongly include rural networks such as Self Help Groups and community enablers.
  • This will create local digital ecosystems to help millions of merchants join the formal economy, access credit, and grow their business.



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Courtesy: PIB