E-wallets on a roll, see 81% Q1 growth in volume of transactions: Report

In the months after demonetisation, average transaction value, however, fell 12% quarter on quarter

The mobile wallet sector in January-March 2017 grew 81 per cent in volume terms over the same quarter a year earlier , shows  a report by consulting firm RedSeer Management.

The robust expansion, according to the report, was aided by the government's November 2016 move to demonetise old Rs 500 and Rs 1,000 currency notes.

In a move that had taken the country by surprise, Prime Minister Narendra Modi had on November 8 announced that the old Rs 500 and Rs 1,000 were ceasing to be legal tender within hours of the announcement. He had also urged the citizens