Slow death of digital wallet business !

digital wallet is an outdated tech in the Indian market.  

After the coming of UPI the digital wallet business goes slow down. Upi overtakes the digital wallet business market share.

The problem with the digital wallet app

1. Add money to the wallet is a problem from time to time

2. App charges 1 % to  3  %

3. Multiple apps multiple wallets and transaction between one app to another app is not possible.

How UPI solve this problem

1. In UPI no need to add money to the wallet because UPI have no wallet

2..UPI  access amount that transacts directly accessed the customer's bank account

3.UPI  charges free of cost for the customer

4. Multiple UPI apps if you install you can access the amount at your bank, and you can transact between one app to another.

5.UPI  use everywhere.

Market share

With 96 % share, PhonePe, Google Pay & Paytm Dominated UPI Transaction.

So in this benefit, people use upi and throw the digital wallet app.