E-wallet transactions surge amid covid-193 min read 05 Aug 2020, 10:03 PM IST
The recent surge in digital wallet transactions is also a result of tailwinds in digital payments as customers opted for online methods to pay instead of cash
Digital payment firms such as PhonePe, Paytm, Amazon Pay and others have seen a nearly 50% spike in transactions through their digital wallets since the start of the covid-19 crisis. This has led them to focus on the payment instrument, which was disrupted by challenges due to know-your-customer (KYC) norms and the growth of Unified Payments Interface (UPI) in the country.
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