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India has its set of branchless digital banks, Paytm is the leader. India also has other things which is driving digital payment adoption, Aadhar based KYC sys
by senthilnayagam 7y ago
India has its set of branchless digital banks, Paytm is the leader.
India also has other things which is driving digital payment adoption, Aadhar based KYC system, UPI payment interoperability system. Google Pay, PhonePe, Amazon Pay and many other payment apps are now bringing payment to the masses.
and suddenly we realise, India leapfrogged many developed nations in the process
- break_the_bank 7y agoMonzo is very heavily used in physical stores in the UK. Paytm doesn't have enough usage in the physical world apart from transferring money to friends. RBI releases bank usage every few month, here is a link to see statistics https://rbi.org.in/Scripts/ATMView.aspx https://rbi.org.in/Scripts/ATMView.aspx. Monzo is the standard bank account of a lot of millennials. I could see something like Monzo making it big in India, being an Indian living in the UK.