Harry Chad Enterprises is a jewellery firm based in New York that has been in business for over ten years. Previously, their business was based in New Jersey, but owing to rising demand, they relocated to Manhattan, New York.
JUNE 09, 2020: The growth of e-commerce, an expanding smartphone user base, presence of payment banks and Unified Payment Interface (UPI) platforms are driving the Mobile Wallet market in India.
It is estimated that during the FY 2019-FY 2023 period, the Indian mobile wallet market will expand at a compound annual growth rate (CAGR) of ~52.21%, by volume, from the mark of 6.4 Bn in FY 2018.Service-wise market segment insights:In FY 2017, the money transfer segment had a market share of ~37.60%, followed by the recharge and bill payments segment (~29.71%).
This shows that after the demonetization of INR 500 and INR 1,000 banknotes in November 2016, Indian consumers have accepted mobile wallets as the smart and convenient method of tackling scarcity of liquid cash.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/mobile-wallet-market-in-india-2018-2023/request-samplePlayer-wise market segment insights:The major players in the Indian mobile wallet market include Paytm, FreeCharge, MobiKwik, and others.
Among these, Paytm emerged as the most used mobile wallet in 2017 with a share of ~41.60%.
Users have started using UPI for creating a virtual payment address (VPA), and make peer-to-peer payments easily.Development of quick response (QR) code for digital payments at different retail outlets has eliminated the use of expensive electronic data capture (EDC) machines or near field communication (NFC) devices.Key growth drivers of the market:E-wallets are the backbone of the e-commerce industry in India.
Due to the increased penetration of smartphones and the Internet, use of mobile wallets across the country is expected to pick up.
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Harry Chad Enterprises is a New York bases jewelry company that has been in the industry for over the last ten years.
Earlier, their enterprise was in New Jersey, but due to increased demand, they expanded their store in Manhattan, USA.