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Mobile wallet transactions in India increase nine-fold in two years, says Morgan Stanley

June 16, 2017

According to the US-based financial services firm, Morgan Stanley, the mobile wallet transactions conducted in India increased nine-fold from $1 billion during April 2015 to $9 billion during April 2017.

Further, Morgan Stanley estimates India’s addressable digital consumer payment market to be worth $350-400 billion in 2017. However, this is lower than the total worth of the market during 2016.

Meanwhile, according to the financial services firm, greater adoption of digital payment tools such as mobile wallets, credit/debit card transactions at point of sale machines, immediate payment service, unified payment interface and mobile banking could affect the share of ATM withdrawals in the country.

 
 

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