Indian Digital Wallet Company Founder Says Its Biggest Competitor is Cash

Thursday, May 4, 2017

The co-founder & Director of India’s leading mobile wallet company MobiKwik Upasana Taku says the company’s biggest competitor is cash as India is a dominant cash economy.

While MobiKwik has seen a 1000 per cent increase in digital payments since demonetization, Taku feels there is scope for multiple players to become dominant in this market and there is no need for players to worry about competing with each other.

“Digital payments have been increasing rapidly and there is so much scope to take digital payments from 13-14 percent to 30-40 percent.” She expects overall digital payments to contribute 35-40 percent of total transactions in the economy by 2018.

Source: Entrepreneur India (link opens in a new window)

fintech, mobile finance