Established players such as Paytm are also feeling the push and fear that their position will be challenged with the entry of WhatsApp payments.
On this day, the November 8, 2016, in midnight, Prime Minister Narendra Modi announced his decision to demonetise 87% of Indian currency – Rs 500 and Rs 1000 notes – which were in circulation. We look at the few reasons why demonetisation failed and what could have given intended results.
Digital transactions, which gained prominence post demonetisation, have started declining with pick up in remonetisation, indicating return of people’s preference for cash
Customers and merchants using RuPay card, BHIM, UPI, USSD-based and Aadhaar-enabled Payment Service are eligible for daily and weekly lucky draw prizes for digital payment.