effects of mobile wallet in india during demonetization
TRANSCRIPT
Effect of Mobile Wallet in India during Demonetization
Demonetization in India
Ban of Rs 500 and Rs 1000 Banknotes
Purpose to crack down the Black Money
Took place on 8th November 2016 Took place on 8th November 2016
Reduced the country’s GDP and Industrial Production
Shortage of the new Banknotes
Lengthy queue on the ATM
Limit declared on cashing out from the Bank on weekly basis
Bold step by Indian Prime Minister
Try to make the system digitalized in order to make people pay their taxes
1
2
3
4
5
6
7
8
9
Effects of Demonetization on India
I. Shortage of Cash
II. Passengers were affected
III. Business were affected
IV. Many Marriages could not be held
V. Crash of Stock Market
VI. Transportation was affected
VII. Losses of job
VIII. Complication created by Rs2000 note across the country
IX. Digital wallet business has exponential growth across the country
Types of Mobile Wallet
Benefits of Digital Wallet
Transaction is done digitally during this period.
Utilization of the bank has been encouraged more during this period.
No room of cheating is left
Dealing become easier instead of going through the hassle of change
Small transaction become easier
Just need the smart phone for dealing
Avoid the hassle of card swaping
Expansion of the Digital Wallet Business
Single benefactor during demonetization
Increase of digital wallet download during this period
Traffic increased on digital wallet application
Number transaction held on the digital wallet application
E-commerce business also grew with the help of digital wallet
People become dependent on digital wallet during this period
Need to address these issues
Low connectivity of the internet in the country like India
Not everyone have the accessibility of Smartphone
Need good infrastructure for this application
Not every bank is connected
This is temporary exponentially growth
understand the value of demonetization which also give respect to the exponentially
grown Digital Wallet business across the country.
RAPIDSOFT
History of Rapidsoft Technologies
Providing excellent Mobile Solution services
Experience of developing various applications for all type of industries
Achieved the high level of customer satisfaction
Developed more than 300 mobile application
Journey in this business for more than 10 years
www.rapidsofttechnologies.com
India:Plot 63, Udyog Vihar, Phase IV, Gurgaon - 122001, India
+91 124 485 2849,+91 124 485 2812/13/21/34/49
USA:3705, 74th Street, Jackson Heights, NY 11372
+1 516 515 9506, +1 516 515 9871,+1 718 502 6571