Why govt’s proposed rules for prepaid instruments may hurt e-wallets

ThinkstockPhotos-85500716_feThe government on Wednesday released draft guidelines for digital wallet companies as part of its efforts to promote electronic payments, ensure security of transactions and strengthen grievance redressal for consumers. The draft Information Technology (Security of Prepaid Payment Instruments) Rules 2017 mandate, among other things, that digital wallets adopt multiple-factor authentication when a customer initiates […]

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Will abundant cash supply poop the m-wallet party?

Mobile-wallet_feWithout a doubt, digital wallets have been the biggest beneficiary of Prime Minister Narendra Modi’s November move to scrap high-value banknotes. The resultant cash crunch brought thousands of borderline and non-users into the ecosystem, something that would have otherwise taken a few quarters. Data on payment systems released by the Reserve Bank of India (RBI) […]

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Will digital wallets survive the UPI onslaught?

For-Digital-Wallet-Story-TC_ThinkstockPhotos-535412474In the last two months that demonetisation has dominated dinner-table conversations, digital wallet Paytm has had a dream run, clocking unprecedented numbers. TechCircle recently reported that Hero Corporate Services chairman Sunil Munjal was reportedly looking to buy a stake in the digital wallet firm at a staggering valuation of $5.7 billion. Though it’s been a […]

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