 "Mobile wallets")
Mobile wallet transactions surged in May with a 16 per cent growth in volume and a 22 per cent rise in value over the previous month, according to the Reserve Bank of India’s (RBI’s) monthly bulletin.
Mobile wallet transactions for May stood at 326.02 million in volume and Rs 142.39 billion in value, against 279.29 million and Rs 116.95 billion respectively in April.
The wallet industry has faced a rocky path during the year due to the rise of United Payments Interface (UPI) as well as stringent Know Your Customer (KYC) rule enforced upon them. This had resulted in a
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