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Digital payments industry in India is expected to reach $500 billion by 2020 , with over 50 percent of internet users in the country will be using it, according to a latest report by global telecom body GSM Association and Boston Consulting Group . " BCG projects that more than 50 percent of India’s Internet users will use digital payments by 2020. The number of users accessing internet on mobile is expected to reach 3 billion in 2020 , covering 65% of the world’s population " the report by global telecom body GSM Association and Boston Consulting Group. It noted scope of the Unique Identification Authority of India (UIDAI) system which enables anyone in the country to obtain an electronic and digitally-signed proof of identity . " Almost the entire adult population carry Aadhaar cards that facilitate electronic payments, and the electronic payment industry today encompasses telcos , banks , wallet companies and e-commerce firms , " the repor...

Indian software major Tech Mahindra views the proposed merger of telecom giant Vodafone and Idea as a "seismic" event that will impact the IT sector. Tech Mahindra sees the proposed merger of Vodafone and Idea as a "seismic" event that will impact the IT sector, but asserted that it will benefit from such a deal.  The software firm derives over half of its revenue from servicing communication companies. "It is a big market where these people are merging together. In my world, it is a seismic change . It is not an ordinary change. Clearly, it means that certain part of the IT spend will either come down or get re-directed ," Tech Mahindra MD and CEO CP Gurnani told PTI here over the weekend.   However, he said that rather than being affected, Tech Mahindra may benefit from such a merger. "The reason it may not have any impact on us, as a matter of fact it will get better for us, because for both the companies our primary focus is...