The tech trend that took the country by storm in 2015 was the 'Mobile Wallet' or 'credit card killers' as some called them...
The tech trend that took the country by storm in 2015 was the ‘Mobile Wallet’ or ‘credit card killers’ as some called them.
Although still in a nascent stage, the concept of “Mobile Wallet” grew rapidly on the psyche of the Indian consumers – making it one of the most lucrative start-up avenue this year.
While the mobile payment solutions provider Paytm alone claims to have 20 million active users, MobiKwik has 12 million users. Other key “Mobile Wallet” players are Citrus Pay, Oxigen, mRupee and Snapdeal’s Freecharge and the list is growing.
According to the research firm RNCOS, the current Indian market size for m-wallet stands at about Rs 350 crore and is estimated to rise to Rs 1,210 crore by 2019.