You are here: Home » Technology » News » Apps
Google launches voice maps in six Indic languages, to add new users
Business Standard

Wallets on the wane as Unified Payments Interface and regulations take over

This has resulted in a steep fall in PPI transactions and some estimates suggest the business is down almost 50 per cent

Topics
E-wallets

Mayank Jain  |  New Delhi 



mobile wallets, payments banks, digital transactions
Photo: iStock

It’s been termed as a David versus Goliath fight ever since it started. With the entry of prepaid wallets in the payments ecosystem, the Reserve Bank of India (RBI) ushered in a new era where small transactions were no longer dependent on heavy paperwork or two-factor authentication. Then came demonetisation and Indian payments wallets turned billion-dollar entities riding on the wave of digital transactions. But, all that seems to have come to a halt.

TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.

SUBSCRIBE TO INSIGHTS

What you get on Business Standard Premium?

  • icon Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • icon Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • icon Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
  • icon Pick your 5 favourite companies, get a daily email with all news updates on them.
  • icon 26 years of website archives.
  • icon Preferential invites to Business Standard events.

OR

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.


We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, March 14 2018. 06:57 IST

RECOMMENDED FOR YOU
RECOMMENDED FOR YOU