As E-Wallets Go Big Amid Cash Crunch, Challenges Remain On The Streets

Since the government banned old 500 and 1,000 rupee notes last month, electronic wallets have had a dream run. According to the Reserve Bank of India, digital wallets like Paytm and MobiKwik have added 1 million users per day since the demonetisation was announced on November 8. But has the experience for users been equally rosy? The National Association of Street Vendors of India (NASVI) along with the e-wallet MobiKwik has set a target of introducing 30 lakh street vendors to the e-wallet across 25 states in India. They've already introduced 30,000 vendors across five cities - Delhi, Gurgaon, Noida, Kanpur and Patna. Disclosure: Paytm's parent company One97 is an investor in Gadgets 360.