In the wake of demonetization in early November 2016, most Indians were forced to go cashless and look for alternatives to make their daily transactions. That era turned out to be the turning point for all financial technology companies in India. Since then E-wallets made home and stayed making consumers life much easier. This industry has seen nothing but a significant rise, pushing the economy into a cashless and transparent state. With over 230 million smartphones users with easy access to the internet, a study by Velocity MR says that over 94 percent of the population uses one or the other payment apps, leaving 6 percent of the individuals not using the apps in spite of being aware of them.
Some of the key findings we cover in this report are:
1. Awareness & usage of E-wallets/mobile wallets brands
2. Key reasons for not having any E-wallets/mobile wallets accounts
3. Brand funnel of E-wallets/mobile wallets portals
4. The preferred mode of payments in India
5. Usage of E-wallets/mobile wallets in India
6. Source of awareness & the experience of using E-wallets
7. The preferred device for making payments via E-wallets
To know more about the awareness and usage of E-wallets in India, download our report now.
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