Effects of Mobile Wallet in India during Demonetization

1
Effect of Mobile Wallet in India during
Demonetization
2
Demonetization in India
1
Ban of Rs 500 and Rs 1000 Banknotes
Purpose to crack down the Black Money
2
Took place on 8th November 2016
Took place on 8th November 2016
3
Reduced the countrys GDP and Industrial
Production
4
Shortage of the new Banknotes
5
Lengthy queue on the ATM
6
Limit declared on cashing out from the Bank on
weekly basis
7
8
Bold step by Indian Prime Minister
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Try to make the system digitalized in order to
make people pay their taxes
3
Effects of Demonetization on India

1. Shortage of Cash
2. Passengers were affected
3. Business were affected
4. Many Marriages could not be held
5. Crash of Stock Market
6. Transportation was affected
7. Losses of job
8. Complication created by Rs2000 note across the
   country
9. Digital wallet business has exponential growth
   across the country

4
Types of Mobile Wallet
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Benefits of Digital Wallet

• Transaction is done digitally during this
  period.
• Utilization of the bank has been encouraged more
  during this period.
• No room of cheating is left
• Dealing become easier instead of going through
  the hassle of change
• Small transaction become easier
• Just need the smart phone for dealing
• Avoid the hassle of card swaping

6
Expansion of the Digital Wallet Business

• Single benefactor during demonetization
• Increase of digital wallet download during this
  period
• Traffic increased on digital wallet application
• Number transaction held on the digital wallet
  application
• E-commerce business also grew with the help of
  digital wallet
• People become dependent on digital wallet during
  this period

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Need to address these issues

• Low connectivity of the internet in the country
  like India
• Not everyone have the accessibility of
  Smartphone
• Need good infrastructure for this application
• Not every bank is connected
• This is temporary exponentially growth

8
Rapidsoft
understand the value of demonetization which also
gives respect to the exponentially grown Digital
Wallet business across the country.
9
History of Rapidsoft Technologies

• Providing excellent Mobile Solution services
• Experience of developing various applications
  for all type of industries
• Achieved the high level of customer satisfaction
• Developed more than 300 mobile application
• Journey in this business for more than 10 years

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