Digital Wallets to UPI: The Fascinating Journey | Mint Masterclass

Do you know that the first electronic wallet in India was Wallet365.com? This was roughly three to four years prior to the launch of Mobikwik and PayTm. Wallet365.com was launched in 2006 by Times Group in collaboration with YES Bank. Fast forward to a decade and a half later, in 2021-22, India witnessed 60 trillion rupees worth of digital transactions. And what’s more, India saw the highest number of digital transactions in the entire world! 48 billion transactions. Now, these digital transactions span from your bank cards, ATMs, mobile and internet banking, to digital wallets and UPI. Of course, the rise of digital wallets and UPI took our digital transaction game to a whole new level. But how did it all begin? Let us explore that in this video.