India, April 18 -- Digital wallets, e-transactions, OTPs, digital ledgers-the transactional world has seen a massive disruption over the last few years, and the trend has fast caught up our country as well. In fact, non-cash payments have become a norm in major cities across India. Driven by greater smartphone penetration, strengthening of digital infrastructure, a high boom in virtual transactions and positive regulatory changes, digital payments have caught the imagination of consumers, ably supported by a greater number of retailers getting on the virtual payments bandwagon.

Contactless payment methods, although extremely convenient, require internet connectivity, specific hardware requirements and multiple operational steps, apart fr...