Tweaks in e-wallets: how you benefit9 min read . Updated: 21 Mar 2016, 01:27 PM IST
Consumers can expect offers to continue, in addition to small loan products and technology innovations in future
The way we make large-ticket transactions has changed thanks to technology such as core banking solutions, Net banking and card payments. Similarly, e-wallets or digital wallets, a relatively new entrant in the payment space, is trying to bring a change in small-value transactions too. For instance, the way you pay your taxi fares, mobile bills and purchase goods from a kirana store is also changing slowly. Currently, almost 95% of retail transactions happen in cash. It is this pie that the e-wallet providers are eyeing to convert into digital transactions. With increased adoption of smartphones, payment patterns have seen a change, which has led to the launch of e-wallets.