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