E-Wallets - The Future Ahead, Post Demonetisation

Types of e-wallet :

1) Open loop wallet (PayTm, Freecharge)

2) Closed loop wallet (OlaMoney, m-Pesa)

3) Private label wallet (BookMyShow)

                                                                                                  

Repercussions of Demonetisation 

•          With demonetisation, both Paytm and Mobikwik have seen a record hit in payment transactions. Paytm says it hit 5 million payment transactions a day, 700 percent increase in traffic 3x growth in downloads. This adds up to around Rs 24,000 crore.

•          MobiKwik claims to have seen an 18X increase in overall transactions, and over 2000 percent increase in transaction value.

•          OlaMoney witnessed over 1500 percent increase in recharges

•          RazorPay had over 150% increase

References

http://www.cio.in/feature/demonetization-triggers-spurt-digital-payments-drives-india-towards-cashless-economy

http://indiatoday.intoday.in/story/local-vendors-e-wallets-mobile-payments/1/810823.html

http://indianexpress.com/article/technology/tech-news-technology/demonetisation-effect-heres-how-to-sign-up-for-paytm-and-mobikwik-4374672/

 

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About the Author:

Niteen Bali is a graduate of NIT Karnataka, Surathkal. Post which he got into IIM Calcutta. He believes in the philosophy of Batman and Chandler is his god. He also believes in short bios.