Note ban: Digital payment channels see huge traction

NEW DELHI: Digital payment channels like mobile wallets, USSD and RuPay have seen massive uptake and rise in transactions in the country after demonetisation drive.

According to the government data, the number of USSD transactions saw a whopping 5,135 per cent jump, from 97 such deals a day on November 8 to 5,078 on December 25.

The value of transactions on USSD — mobile short code message used mainly for banking services on feature phone — during the same period grew 4,061 per cent from Rs 1 crore a day to Rs 46 crore on December 25.

“Growth in USSD transactions, albeit on a small base, shows that #IndiaStandsUnited in embracing digital payments… Growth in UPI transactions is also testimony to fact that #IndiaStandsUnited in embracing Digital payments,” tweets from MyGovIndia said.

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http://telecom.economictimes.indiatimes.com/news/note-ban-digital-payment-channels-see-huge-traction/56255770

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