Paytm has 39 million every day energetic customers (DAU) which is greater than the mixed DAU of Google Pay and Flipkart’s PhonePe, claims report from analysis and technique agency Zinnov.
The report is predicated on the analysis and findings for the interval This fall 2019 – Q1 2020. It places Google Pay’s DAU at 19 million and PhonePe at 17 million.
Digital Funds market in India is estimated to double to $135.2 billion in 2023 from $64.eight billion this 12 months with Indian share in worldwide digital funds set to extend from 1.56% to 2.02% within the subsequent 4 years. Just lately, the nation’s apex financial institution Reserve Financial institution of India (RBI) directed fee programs operators to undertake focused multi-lingual campaigns by means of SMSs and commercials to teach customers on secure and safe use of digital funds amid incidence of frauds.
Security and safety of digital transactions are of paramount significance, it stated in a round to fee system operators and contributors.
The RBI has been taking measures to enhance consciousness by means of its e-BAAT programmes and organising campaigns on the secure use of digital fee modes to keep away from sharing crucial private data like PIN, OTP, and passwords.
“Regardless of these initiatives, incidence of frauds proceed to bedevil digital customers, usually utilizing the identical modus operandi customers had been cautioned about, equivalent to luring them to reveal very important fee data, swapping SIM playing cards, opening hyperlinks acquired in messages and mails, and many others,” it stated.
Additionally, there are circumstances of customers being tricked into downloading spurious apps that entry crucial data saved on units.
It’s, subsequently, important that every one fee programs operators and contributors — banks and non-banks — proceed and reinforce efforts to unfold consciousness about digital security, the round stated.
“All authorised fee programs operators and contributors are hereby suggested to undertake focused multi-lingual campaigns by means of SMSs, commercials in print and visible media, and many others, to teach their customers on secure and safe use of digital funds,” it stated.