India mobile payments surge after shock banknote move

India mobile payments surge after shock banknote move
 

India's surprise move to get rid of big banknotes may have sparked a nationwide cash crunch, but it has proved a boost for mobile payment firms.
The country's largest digital wallet firm, Paytm, logged a record of over seven million transactions on Saturday.
The loss-making firm is valued at about $5bn (£4bn) and backed by Chinese e-commerce giant Alibaba.
Paytm claims to have 150 million users while its nearest rival MobiKwik has 35 million.
Both companies have seen a surge in new users signing up.
This comes after the move by Indian Prime Minister Narendra Modi earlier this month to... read more

 
21 November 2016 in Business, Views: 46
Source: BBC
Share:
 




News Widget for Webmasters


Realtime News

 

«
»
Mo Tu We Th Fr Sa Su
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28