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Wallet Wars Intensify in India With Uber Being The First Battlefield

There are an estimated 58 million semi closed mobile wallet users in India of the 950 million mobile phone users in India. Semi closed wallets are those which have received m-wallet license from RBI. The volume and value of transactions is growing exponentially. RBI says that since January till April 2015, more than 160 million wallet transactions have taken place which has resulted in transactions worth $ 0.6 billion. In 2014, it was $ 0.9 billion (Jan – Dec). The level of penetration i ...

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