Consumer goods majors push e-payments after note ban
Thursday, March 23, 2017, 11:37 AM
After getting hit by last November’s note ban, with much loss of sales, prominent consumer goods companies are now promoting cashless transactions. Nestlé, PepsiCo and Samsung are examples of the recent trend, of either streamlining internal transactions through the digital mode/luring consumers with an integrated mobile payments platform. FMCG entity Nestlé India had lost an estimated Rs.100 crore in retail sales after demonetization.