As COVID-19 travelled through countries and economies, governments across the globe responded with lockdowns that drove people towards digital marketplaces; overnight we became dependent on connected devices especially mobile phones and PCs as learning. Soon, working moved online with many more applications moving to cloud infrastructure than ever before. According to a 2021 study by the International Telecommunication Union, globally, digital adoption increased by five years in merely two months in 2020. India has set a target of reaching a US $1 trillion digital economy by 2025, a fivefold growth from the US $200 million.
Since the launch of the “Digital India” program in 2015 to date, there have been many significant improvements in digital infrastructure, in the digital delivery of public services and financial assistance to citizens, and in enhancing digital consciousness and literacy. Yet, while COVID-19 brought on a 500 per cent increase in tele-health consultations, a structural shift towards online shopping with e-retail reaching 95 per cent of Indian districts, and digital payments touching the 100 million transactions per day mark, it amplified a new threat – the risk of creating a new class of digitally poor citizens, which further gave rise to the gendered digital divide.
Growth in consumption across emerging economies is projected to come largely from tier II and rural areas. In India, it is slated to grow by 4.3 times in just 10 years; compared to 3.5 times in urban areas, according to a report by Bain & Company and the World Economic Forum. Rural India contributes a substantial part of the total net value added in many sectors, with an overall 46 per cent contribution to our national income. In these regions, the economy, however, continues to be an informal one, largely cash-oriented with unstructured cash flows. Most of the rural working population is typically the “Earn and Pay” segment, largely excluded from formal employment opportunities and predictable cash flows. But things are changing on the ground. While the government and regulatory bodies have rolled out several policies and financial initiatives aimed at inclusive digital growth – Aadhaar, a unique biometric identifier, zero-balance Jan Dhan savings bank accounts, direct transfer of social benefit payments, the digital payment infrastructure BHIM – physical and digital connectivity, however, continue to have gaps.
Digital Literacy Is A Key Piece Of The Larger Puzzle.
While the availability of digital infrastructure will play a crucial role in bridging the existing gaps, it is equally important to build digital skills among the Indian population to be able to take advantage of this infrastructure. Most citizens, especially of rural India and low-income groups still do not have enough knowledge about the internet and its uses.
Meta's "We Think Digital" Programme
Working in partnership with experts from across India, We Think Digital provides resources to build a global community of responsible digital citizens equipped with skills for a digital world.
Click here for more information: https://wethinkdigital.fb.com/
Pradhan Mantri Gramin Digital Saksharta Abhiyan
The scheme has been initiated under Digital India Programme and covers six crore households in rural areas to make them digitally literate. MGDISHA is one of the largest digital literacy programmes in the world. Approximately five crore beneficiaries have been enrolled and more than four crores have been trained in 2021. Over two crore women beneficiaries are registered in the scheme.
Click here for more information: https://vikaspedia.in/e-governance/digital-india/national-digital-literacy-mission#:~:text=The%20Pradhan%20Mantri%20Gramin%20Digital,to%20make%20them%20digitally%20literate.
Digital Infrastructure
Within infrastructure, practical solutions that increase access, affordability, and usage are critical. Business activity at small businesses, such as kirana stores, restaurants, pharmacies and electronic goods retailers, have been an indicator of India’s domestic-consumption-led economy. In the wake of the pandemic, traditional businesses have been affected the most – from wholesale markets to customer traffic – as most usually operated in and catered to a local area. A simple and intuitive technology-led, mobile-first commerce and financial services solutions for MSMEs ( Micro, Small & Medium Enterprises) can help bring efficiencies in and solve problems related to supply chains, as well as bring alternative credit sourcing.
These E-Commerce Softwares Are Helping Indian Businesses Adopt A Digital Lifestyle
Shopify
Shopify is an all-in-one commerce platform to start, run, and grow a business.
Key Features:
· It has a great range of templates - above 70 and customization features as well.
· It supports multichannel selling on websites like Facebook, Amazon, Instagram, and eBay.
· The sellers are provided with an extensive range of apps to add more features to the site.
Click here for more information: https://www.shopify.in/
Magento
One of the preferred e-commerce softwares in India. It started as an open-source platform, so its users can develop eCommerce websites with ease.
Key Features:
· It is completely free to use and it provides a multitude of customising options to users.
· Also, it has an established user-base with a ton of resources for beginners and experts alike.
· It provides free/paid plugins to improve the UX of the eCommerce store.
· Magento-based stores are highly customisable. The users can customise every aspect of the e-commerce store down to altering the code structure and the data inside the databases. But here you should know how to code which limits some people to choose this.
Click here for more information: https://business.adobe.com/in/products/magento/magento-commerce.html
Zoho Commerce
Zoho Commerce contains all the tools you need to build a website, accept orders, track inventory, process payments, manage shipping, market your brand, and analyze your data.
Key Features:
· It is primarily used for eCommerce and multichannel eCommerce.
· This software supports drag and drop methods with pre-build templates.
· It is suitable for all individual, small and medium kinds of business.
Click here for more information: https://www.zoho.com/commerce/
Shoptimize
Provides end-to-end, D2C (direct-to-consumer) method-focused e-commerce growth platform. It collates data from a variety of sources for data-driven insights, for businesses to set up, operate, manage, and grow their online sales.
Key Features:
· The platform utilizes AI to help brands build and manage e-commerce sites. It is one of the emerging eCommerce platforms.
· Shoptimize not only is a website-building platform but also provides users insights into growing their business by optimizing their store for them.
· It also customizes every element of your brand and product selection.
Click here for more information: https://www.shoptimize.ai/
Here are the mobile payment apps to consider for your small business.
BHIM
BHIM (Bharat Interface for Money) is a mobile payment app that is backed by the government of India. It’s based on the UPI (Unified Payment Interface). Once you download and install this app on your Android/iPhone, you can register for a UPI ID for your bank account, if you don't already have one. You can use this UPI pin to receive payments from customers, which is credited directly to your bank account.
Salient Features:
· You can use multiple bank accounts in the app and decide which account to receive payments from.
· Customers can pay you by using a QR code, UPI pin, mobile number, Aadhar number, or bank account number.
· The app does not require any registrations with your bank.
· BHIM supports thirteen languages.
Google Pay
It works across all bank accounts that support UPI. Once you download and install the app, you have to connect your bank account. Once your bank account is connected, you can receive money from customers.
Salient Features:
· Customers can pay you by using a QR code, UPI pin, mobile number, bank account number, IFSC code, or audio QR code.
· Unlike BHIM, it does not offer Aadhar-based transactions.
· Customers can use the cash payment option to securely transfer money to nearby Google Pay users, without having to share their private details.
· It has enhanced security that prevents hacking and other attacks on your bank details.
· Secure the app using fingerprint or Google Pin.
· The UPI pin secures each transaction.
· Besides security and convenience, Google Pay also offers a wide array of cashbacks and other rewards, including scratch cards, discounts, etc.
PayTM
It’s one of the most popular mobile payment apps in India. It works on a semi-closed model. Customers can easily load money into their PayTM mobile wallet and pay merchants using the QR code.
Salient Features:
· It uses 128-bit VeriSign certified encryption for secure payments.
· You can also opt to open a savings bank account with PayTM Payments Bank. This savings account has various features like free virtual Rupay debit card, free digital transactions and zero minimum balance.
· Customers can send money to you using the payment link (shared by you) or by scanning the QR code.
· PayTM offers Buy Now Pay Later feature for ICICI bank customers.
PhonePe
Initially launched in 2016, it was the first UPI mobile payment app in India. PhonePe is powered by Yes Bank, and can be linked to other mobile wallets like Airtel Money, Freecharge and Jio Money.
Salient Features:
· It offers interoperability among various mobile wallets.
· It offers several rewards and cashback offers for transactions carried on the app.
· It has an intuitive and easy to use UI.
· You can connect multiple bank accounts with the PhonePe app.
Freecharge
It’s another popular mobile payment app and offers customers generous cashback and discounts for various transactions. As a business owner, you can link multiple bank accounts in the Freecharge app.
Salient Features:
· When you register on the Freecharge app, you can get a UPI id powered by Axis bank.
· Share the UPI id or QR code with customers to receive payments.
· It offers multiple discounts, offers and cashbacks for payments received and sent.
Apps That Offer Same Day Delivery Of Parcels And Groceries
From groceries, food, personal care products to medicines, stationery product businesses are quite rapidly getting into the on-demand fast delivery app market.
Borzo
The Borzo courier can deliver exactly when you want and can start processing your order almost immediately after they receive it, or on a specific day and time. For businesses, Wefast comes with 5 different subscription plans available at different prices. Apart from that, they let you choose your own customised plan at your convenience. Moreover, growing their business rapidly, Wefast can ensure delivery time as fast as 90 minutes.
Cities the company offers its services in: Mumbai, Delhi/NCR, Bengaluru, Hyderabad, Ahmedabad, Chennai, Kolkata, Pune, Surat, Jaipur, Goa, Indore, Bhopal and Chandigarh
Click here for more information: https://borzodelivery.com/in
Dunzo
Dunzo is an app-based courier delivery service provider. Dunzo has even partnered with local restaurants to offer food delivery services just like Swiggy and Zomato. For businesses, Dunzo offers the fastest delivery service within 45mins. When you sign up, you can get the first three deliveries for free. Download the application on your Android/iOS device today and get your package delivered using Dunzo.
Cities the company offers its services in: Mumbai, Pune, Bangalore, Chennai, Hyderabad, Jaipur, New, Delhi and Gurgaon
Click here for more information: https://www.dunzo.com/mumbai
SARAL
An app-based same-day intra-city courier delivery service provider, it is a venture started by eCommerce shipping company Shiprocket. The SARAL application is available for both Android and iOS smartphone users. With SARAL, you can ship hyperlocal orders within 50km. Partnered with on-demand fast delivery app providers like Shadowfax, WeFast, and Dunzo, SARAL lets you reconcile your cash on delivery orders. Shiprocket has built this application dedicatedly for online shops and businesses that want to enrich their customer base by offering hyperlocal deliveries.
Cities the company offers its services in: Delhi, Bangalore, Ahmedabad, Chennai, Jaipur, Faridabad, Mumbai, Hyderabad, Navi Mumbai, Gurgaon, Pune, and Noida.