Abstract
The most pivotal business achievements of the 21st century can be classified as the following - the revolutionization of software technology to create a digital economy, rapid economic globalization due evolution of smart devices and enhanced internet and data connectivity services, the development of fintech firms and online payment strategies. This white paper discusses these developments along with the international payment flows which can be attributed to five mega-themes related to the POWER+ framework comprising - Platforms, Online, Wallets, Embedded and Real-Time and the micro-themes under this framework, which are depicted in the above figures. This paper further concludes with the evolving business scenarios in India in the education, health, travel and hospitality businesses, which transformed drastically due to the Covid-19 pandemic, the related key market drivers, different and new product categories within these sectors, the corresponding support of fintech firms, accelerating technological advancement and digital transformation, along with the current trends in these industries.
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