Due to the strict rules of RBI, the business of mobile wallets has been stalled New Delhi: Due to the strict rules of the Reserve Bank, the business of mobile wallets has been suspended. In March, Wal-Mart companies saw a 13 percent fall in business.
Companies are now concentrating on providing financial services to increase the number of customers. After notebooks, mobile wallet companies such as PTC, Mobikweek benefited a lot. By January 2017, the number of users of mobile wallet companies was more than 50 crores. But due to the Reserve Bank's scathing KYC rules, the business of wallet companies seems to be slowing down. In this situation, like Mobikweek, PtM, Oxygen and EbixCache Companies have started selling mutual funds, insurance plans and POS machines, considering the growing demand for financial services. PATM is not the only way to make payments. After launching the Patti Payment Bank, facilities such as mutual funds, insurance plans and gold bonds have started for customers. At present, PTM Mole also started its POM machine service. Considering Oxygen's changing situation, the WALT facility has decided to launch other services, including POS. Ebkcash is also increasing its business in the Remittance Service, Insurance and Landing Service. click here
