Mobile payments outgrow smartphones
Mobile banking was synonymous with smartphones and apps, but not everybody can or wants to use them. Ergo, the rise of data- and app-independent m-banking
With the government push for cashless transactions, after the demonetization of high-value currency notes, the electronic payments data released by the Reserve Bank of India presents an encouraging shift towards digital payments. The adoption of non-tradition digital payment mechanisms, i.e., payments made using Unstructured Supplementary Service Data (USSD) for mobile communications, Unified Payment Interface (UPI) and e-wallets is evident from the growth in volume of transactions and their value, albeit on a low base.