Two hard punches that could knock out the ubiquitous mobile wallet

While tough KYC norms could see users go back to cash deals, the seamless mechanism in UPI-based deals could skim what's left of the digital payments market

There is no one among us who, having used and experienced a digital mobile wallet, doubts either its convenience or utility. For many urban Indians, the ease of ‘click-and-pay’ has become a daily reality -– whether we are taking a cab, ordering food or booking tickets to see our favourite film. In just a few years the mobile payment landscape has evolved significantly and is playing a significant role in making India a less-cash society.
 
Despite what seems to be a winning customer value proposition and near meteoric growth during the past few years, digital mobile wallets are for