Will Mobile Wallets Revolutionize Customer Purchasing Patterns Or Is It Just A Passing Wave?
The onset of the demonetization scheme from the 8 th of November 2016 has been marked with nearly every shop in the locality pinning up a paper displaying a Paytm scan code. This is an unequivocal and absolute evidence of the fact that mobile wallets can no longer be considered as a passing wave but instead, it is slowly and steadily strengthening itself as a medium for day-to-day transactions. Moreover, the emergence of new players such as iKaaz, mRupee and Vodafone-m-Pesa is an indicator of the profit generation that the segment of the mobile wallet is capable of. More number of players simply implies greater longevity of the industry in discussion. In addition to the ease of service, the discounts and rewards on offer are being deemed successful in alluring a greater faction of the population towards the use of mobile-based payments. Now, everything comes with a set of pros and cons; the same is the case with mobile wallet. Mobile network and connectivity, which is the