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Social distancing during the current pandemic has seen a huge surge in cashless payments. With the advent of the contactless payment, few years back the merchants initially were reluctant to embrace this new technology. However, this behavior underwent a drastic change during the two years of the pandemic. The consumer became more familiar of the contactless payment and accepted it whole heartedly since it ensured safety form the Covid. This fact can be confirmed by the exponential growth in cashless transactions worldwide as shown below;

 

The cherry on the pie was the facility provided to individual customers to operate the digital wallet on the smartphone itself. This opened a whole new world of possibilities and convenience both to the consumer and the merchants. Their business expanded even through of the strict measures imposed during the lockdown.

 

PayAid was one of the first to realize the immense potential of the cashless payments and thus started providing the best payment gateway platform and support systems to empower and enable the merchants to implement their invoicing, reconciliation in digital payment and implement innovative safe products to develop sound payment ecosystems. Merchants will be able to access their entire transaction database with ease and thus ensure timely payments from vendors & customers. PayAid also provides an Integrated Automation Ecosystem across all departments to build a cohesive and ultimate customer experience. In addition, we also provide one stop payment solution on WhatsApp to collect compliant business payments.

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In a nutshell, the contactless payment methods naturally opened up more avenues for the trade and became a prominent means of business and growth for the merchants. Thus, it can be seen that cashless payment is truly a bonanza for the merchants.