Union Budget expectation comment from Atom Technologies

Authorised by Mr. Dewang Neralla, MD & CEO, Atom Technologies

download“With the backdrop of demonetization, upcoming Union Budget holds key for the digital payments industry. Considering the current scenario, I think it is perfect time that payments should be treated as core infrastructure and payment gateway providers also should be provided tax breaks on service tax, on corporate tax etc. for a limited period and government should also mandate digital payments for specific industry segments such as C2G payments etc. To minimize risk and fraud, a central KYC registry for merchants should be set up and insurance scheme to  be created for handling merchant and/or transactional fraud which is non-existent now.  Government should also look at creating Payment Technology Parks where facilities and benefits can be provided similar to STPs”