India is traditionally a cash-driven economy that only recently moved out of its comfort zone to adopt newer ways of transacting. With the announcement of Digital India in 2015, demonetisation of banknotes in 2016, and the pandemic of 2020, clubbed with evolving customer behaviour, e-commerce, and smartphone penetration, Indians have been encouraged to move from cash to cashless ways of financial services. As of 2021, fund transfer is the most basic service that customers can avail themselves of at their fingertips with the rise of FinTechs in the country.