You are here

Interest-paying e-wallets a challenge for Indian banks

Central bank has licensed 11 such entities, called payment banks, which operate a lot like PayPal

BT_20150911_SYWALLET111OK7_1872659.jpg
GAME CHANGER: PayTM, which started off as a service for adding credit to prepaid phones, has evolved into India's largest e-wallet repository, allowing customers to pay utility bills, buy bus tickets and pay for Uber rides.

Mumbai

A FLEET of Indian startups and telecom operators want customers to ditch their boring bank accounts and put their money into digital wallets. Their sales pitch: It pays interest, it's secure, and it's easier to pay for a cab or order takeout without running to the cash machine.

sentifi.com

Market voices on:

grab

Receive $80 Grab vouchers valid for use on all Grab services except GrabHitch and GrabShuttle when you subscribe to BT All-Digital at only $0.99*/month.

Find out more at btsub.sg/promo

Powered by GET.comGetCom