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M-wallet share in mobile payment segment to surpass 50 per cent by FY22

m-wallet transactions are likely to grow at a CAGR of over 160 per cent to rise from just over half a billion in FY16 to 260 billion by FY22.

, ET Bureau|
Updated: Dec 27, 2016, 08.01 PM IST
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"It is anticipated that market value of m-wallet transactions in India will grow at a CAGR of over 200 per cent to reach Rs 275 trillion by FY22 from Rs 206 billion in FY16," the study said.
"It is anticipated that market value of m-wallet transactions in India will grow at a CAGR of over 200 per cent to reach Rs 275 trillion by FY22 from Rs 206 billion in FY16," the study said.
HYDERABAD: M-wallets are likely to command half of the market share in the mobile payment segment in the next five years, said Industry body Assocham here in Hyderabad on Tuesday while citing that cyber security will remain a key issue.

Talking to the reporters on the sidelines of release of “M-wallet: Scenario Post demonitisation”, a study jointly conducted by Assocham and RNCOS, D.S Rawat, secretary general, Assocham, said, “The share of mobile wallet market in the total mobile payment volume transactions in India is likely to rise from 20 per cent in FY16 to 57 per cent by FY22.

Also, m-wallet transactions are likely to grow at a CAGR of over 160 per cent to rise from just over half a billion in FY16 to 260 billion by FY22 driven by growing usage of smartphones, robust mobile internet penetration, growth of e-commerce sector together with increasing disposable incomes.”

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