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⍰ ASK What role do digital wallets play within the electronic money landscape in India?

Digital wallets are like fancy electronic versions of your regular wallet in India. You use them on your phone to keep your money safe, manage it, and make transactions.

These digital wallets are great because they help more people, especially those who don't have access to regular banks. They are easy to set up and use, and since many people have smartphones, it makes it easier for a lot of people to join the formal financial system.

Digital wallets also make payments safer and more hygienic, which is important, especially during a global pandemic. On top of that this wallets often have cool features like loyalty programs and discounts, giving you extra reasons to use them and stay loyal.
 

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