AUGUST 20208INTELLIGENT TECH-BASED SOLUTIONS ASSISTING MERCHANTS TO ENSURE UNINTERRUPTED BUSINESS AMID CORONAVIRUS CONTAGIONBy Nityanand Sharma, CEO & Co-Founder, Simplhe global COVID-19 outbreak has created a paradigm shift in the behavior of the consumers and worldwide activities. It has transformed the way we work, communicate, and shop. As more people have started working remotely from home amid the virus scare, they are resorting to basics, stepping outside only to buy essentials, and are constantly bothered about the perils of getting infected in crowded places like malls and supermarkets. That said, the whole world has now moved from offline to online. Those who used to purchase their daily essentials, groceries, and medicines from offline retail stores have now shifted to online aggregators. As a result, digital payments have witnessed a massive spike in the number of users against cash transactions that is reporting a decline in its users. With more and more consumers now relying on digital platforms for making their financial transactions for e-commerce, on-demand service delivery, on-demand entertainment, or collaboration tools from the comfort of their homes, tech-based platforms facilitating the same are likely to dominate the future.A Financial Mathematics graduate from the University of Michigan, Nityanand started his professional journey at Bear Stearns in the mortgage-backed securities group in 2004 and then joined the collateralized debt obligations and credit correlation at Goldman Sachs as a Vice President before establishing Simpl in 2015.Nityanand Sharma, CEO & Co-FounderTIN MY OPINION
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