CAIT, HDFC join hands for digital payments

CAIT, HDFC join hands for digital payments

 Traders body Confederation of All India Traders (CAIT) on Thursday partnered with HDFC Bank, MasterCard and Tally Solutions to launch a national campaign for adoption of digital payments to enable a seamless transition to the Goods and Services Tax (GST).

CAIT announced this ambitious campaign in a two-day national conference that began on Thursday in the capital amid more than 150 prominent trade leaders from 27 states of the country attending the brainstorming session on GST and benefits of digital payments adoption under the theme ‘GST aur Digital Payment Apnao-Desh Vyapar Aage Badao.’

CAIT National President B C Bhartia and Secretary General Praveen Khandelwal in a joint statement said, “We stand committed to seamless transition to GST taxation system which would transform country into ‘One Market’ studded with technological advancements, besides fast-track digitisation of the financial data.”

“Though, GST is a revolutionary change to eliminate black economy while promoting transparency and security, the trading fraternity is perturbed about the procedural implications. Empowerment of nearly 60% of trading community with technology is a major challenge. Through this association, we aim to educate and equip non-corporate entities for successful adoption of GST and digital payments.”

The tripartite collaboration under the leadership of CAIT will help provide the necessary resources to small businesses to help digitise their operations, thus facilitating the adoption of digital payments at large, CAIT said.