Oct 21, 2020 · Mobile wallet adoption is gradually displacing traditional payments such as cash and cards in India. This has become even more prevalent during the current COVID-19 crisis and as a result mobile wallet transaction is expected to surpass INR100 trillion (US$1.40 trillion) in 2024, according to GlobalData, a leading data and analytics company.
India mobile wallet market is projected to grow from around $ 16 billion in 2018 to $ 184 bi llion by 2024, exhibiting growth mobile wallets in india at a staggering CAGR of 44% during 2019 - 2024. Anticipated growth in the market can be attributed to growing smartphone user base and rising internet penetration across the country.
However, India is the second-largest telecommunications market and has 1100.37 million mobile phone customers. Mobile phones are quite common even in the remote villages. The mobile phone industry is growing at a rate of over 200 million per year. It was expected [by whom?] to touch the one and a half billion mark by 2015. The share of the urban subscribers is 66% and the share of the rural ...
Apr 27, 2020 · Mobile wallets are growing popularity in India. A mobile wallet is a mobile application where one can store money virtually for making online and offline payments. Mobile wallets are classified in multiple types such as open, semi-open, semi-closed and closed. This classification is based on the type of usage permitted by the wallet.
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