Khawaja aims to be part of $250bn internet economy
Allied Wallet, a global FinTech company offering various payment solutions in 196 countries, and Founder Andy Khawaja recently announced new plans to bring blockchain technology to India’s rapidly growing e-commerce market.
India’s e-commerce revenue has the highest annual growth rate in the world and its internet economy is expected to grow to US$250 billion by 2021.
Allied Wallet and Founder Andy Khawaja have supported India’s e-commerce growth for many years and now aim to bring their e-commerce businesses and users state-of-the-art blockchain technology.
Blockchain technology is very promising for the payment processing industry and will allow payments to be made in real-time. The technology will make payment processing more agile, responsive, and lower costs for businesses and ultimately consumers.
“As e-commerce sees incredible growth in India, we want to give their businesses and users the best technology to improve payments and also protect them. Blockchain technology encrypts transactions and protects all parties involved. It’s faster, it has more capabilities, and we’re proud of our new innovations,” said Founder Andy Khawaja in a release on 7 Mar 2020.
India hosts the second largest internet user base in the world just behind China. As more of India’s population adopts the internet and smartphones, this number will only continue to grow.
“As India becomes even more accustomed to shopping online, we want to support their digital payments and protect them. Blockchain technology is one way in which we plan to do so,” Andy Khawaja added.
By 2021, India’s internet user population is projected to reach 829 million users.
Allied Wallet continues to revolutionize the e-commerce industry by introducing new and innovative payment processing solutions for online merchants, enabling them to send and receive global payments. fiinews.com
