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Mobile wallet transactions fall in November

According to RBI data, transactions through mobile wallets marginally declined in November, both in terms of value and volume. The decline in transactions came after mobile wallet companies stopped using Aadhaar for e-KYC to enrol new customers following the Supreme Court order. While the transaction value declined 14% to Rs 16,108 crore in November from Rs 18,786 crore in October, transaction volume registered a 5.7% drop to 347.32 million in November as compared to 368.45 million in October. The cost of conducting physical KYC has gone up to Rs 100-150 per person from Rs 15 per person under e-KYC.

Read More at The Financial Express News date : 8 Jan 2019, Tuesday

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