Mobile Wallet
Mobile wallet payments in India to surpass Rs 531 trn in 2028: GlobalData
The value of mobile wallet payments in India, as per a GlobalData report, grew at a CAGR of 72.1 per cent between 2019 and 2023 to reach Rs 202.8 trillion in 2023
 "Mobile wallet payments in India to surpass Rs 531 trn in 2028: GlobalData")
Ola not obligated to deduct tax at source on payment to driver: ITAT
Tribunal says Ola is a mere intermediary; its role is limited to managing OLA app, facilitating transport services by the driver to the rider and payment collection via e-wallet on driver's behalf
 "Ola not obligated to deduct tax at source on payment to driver: ITAT")
How PhonePe is inching towards becoming market leader in the payments space
The Walmart-backed payments firm's market share stands at 33.4%, behind market leader Paytm's 42%; but its app was used in 53% of smartphones in the domestic market, compared to Paytm's 51.3%
 "How PhonePe is inching towards becoming market leader in the payments space")
E-wallets trying to break payments mould
MobiKwik has over 65 million users and 2 million merchants and is using its database to promote financial services
 "E-wallets trying to break payments mould")
RBI guidelines: How your mobile wallet will work under the new rules
The new guidelines take a giant step towards interoperability
 "RBI guidelines: How your mobile wallet will work under the new rules")
New draft rules to add another regulator, say mobile wallet firms
New Delhi, 10 MarchFor mobile wallet entities, the new set of guidelines from the government under the draft Information Technology (Security of Prepaid Payment Instruments) Rules, 2017, issued for public consultation, means yet another body they'd have to consult before conducting any business.Till now, they say, they only had to adhere to Reserve Bank of India guidelines. "It means more going to two bodies for checks and balances; more paperwork for us. What they should do is to form a separate body altogether, handling all sorts of guidelines around online payments," said a senior executive of a mobile wallet entity. The new draft rules, he added, should cover all payment methods and not only wallets."We already have solid cyber security measures in place and treat the data of our users with utmost care. If the government asks us to put additional measures which might be unnecessary, our costs might increase," said another."We are already implementing many of these suggestions and .
 "New draft rules to add another regulator, say mobile wallet firms")
Convenience, safety or discount?
A mobile wallet may offer discounts but allows transactions of limited amounts. And, while a bank app or internet account allows larger transactions, it might be less convenient
 "Convenience, safety or discount?")
