Saturday 23 February 2019
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business-standard - 12 days ago

Mobile wallet transactions increased 40 times in India in five years: Gulshan Rai

Mobile wallet transactions in India have increased 40 times in the past five years and every service provider in the world is eyeing Indian market for it, National Cyber Security Coordinator in the PMO Gulshan Rai said Moday. Delivering a lecture on Digital Disruptions in India , Rai, a noted cyber security expert, said India was one the most advanced countries in the world in terms of expanding mobile wallet payment on a larger scale. Rai said the digital economy in India was growing 1.5 times faster than the global average. Mobile wallet transactions have increased 40 times in the last five years. Every technology provider in the world is looking for the Indian market for the mobile wallet payment. We are one of those countries who are much advanced in terms of including mobile wallet payment on a larger scale, he said. Today the digital economy is around 15 per cent of the global GDP. In India, it is about 8 per cent of the GDP and is likely to increase up to 30 per cent of the

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