“We welcome various measures to promote digital economy announced in the new budget by our honorable Finance Minister:
Measures like exemption of import duty on all types of PoS devices, additional 10 & 20 lakh POS terminals, No service charges on IRCTC bookings and incentivization schemes on digital payments for merchants, along with ban on cash transactions above INR 3 Lacs will provide a huge boost to the country’s digital payment revolution.
Also as per recommendation of the Dr. Ratan Watal Committee - creating a Payment Regulatory Board (PRB) within RBI is a great start and we believe additional direction towards bringing parity between physical cash and digital payment transactions, along with 'Interoperability' and access to a unified payment infrastructure with absorption of merchant discount rates by the government allowing non-bank PSPs to directly access payments systems of (RTGS & NEFT) would also follow soon.”
Please find below views on Union Budget 2017 by Mr. Dewang Neralla, MD & CEO, Atom Technologies:
“Special Focus on digital payments in the union budget and acceptance to specially look into the various committee recommendations on digital payments is a welcome step. Tax breaks on the POS devices as well as other devices will hopefully ensure affordability for the devices and help foster better penetration for digital payments” said, Mr. Dewang Neralla, MD & CEO, Atom Technologies
Please find below views on Union Budget 2017 by Mr. Deven Mehta, Managing Director, Smart Card IT Solutions Ltd., India’s largest manufacturers of smart cards:
“Overall it is a growth oriented budget with the government undertaking multiple measures to provide the necessary impetus to the economy. Abolition of FIPB is one such encouraging measure which will enhance the ease of doing business in the country.
Government’s decision to launch Aadhaar based smart cards with health information for senior citizens is one big constructive step which will help millions of senior citizens. India is one of the few countries which lacks a secured national identity card. I feel going forward we will see all Aadhar cards being converted into chip based smart cards thereby enhancing the safety and security of one’s identity and information.”