Paytm has 39 million every day lively 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 autumn 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 yr with Indian share in worldwide digital funds set to extend from 1.56% to 2.02% within the subsequent 4 years. Lately, the nation’s apex financial institution Reserve Financial institution of India (RBI) directed cost programs operators to undertake focused multi-lingual campaigns by the use of SMSs and ads to teach customers on protected 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 cost system operators and contributors.
The RBI has been taking measures to enhance consciousness by its e-BAAT programmes and organising campaigns on the protected use of digital cost modes to keep away from sharing important private data like PIN, OTP, and passwords.
“Despite these initiatives, incidence of frauds proceed to bedevil digital customers, usually utilizing the identical modus operandi customers had been cautioned about, akin to luring them to reveal important cost data, swapping SIM playing cards, opening hyperlinks obtained in messages and mails, and many others,” it stated.
Additionally, there are instances of customers being tricked into downloading spurious apps that entry important data saved on units.
It’s, subsequently, important that every one cost programs operators and contributors — banks and non-banks — proceed and reinforce efforts to unfold consciousness about digital security, the round stated.
“All authorised cost programs operators and contributors are hereby suggested to undertake focused multi-lingual campaigns by the use of SMSs, ads in print and visible media, and many others, to teach their customers on protected and safe use of digital funds,” it stated.