WhatsApp Likely to Launch Peer-to-Peer Payments in India Within 6 months

[Aniruddh]

You should read that article, now it might be that there are more accounts than I provided in the link but there are some issues here.

1. Why only take persons older than 18 into account, you know, most teenagers here have bank accounts.

2, in the link you provided it says that many of these accounts are dormant, 43% of accounts are dormant, they are not used or have zero balance on their account.

3. BOLD:

1. Legally they cannot enter into a contract, including a banking relationship until they are 18 years old.

2. https://www.pmjdy.gov.in/trend-zero

 

[justperry]

1. Legally they cannot enter into a contract, including a banking relationship until they are 18 years old.

2. https://www.pmjdy.gov.in/trend-zero

Again

In India, not only account penetration is comparatively low, at 53 per cent, but so is the use of accounts for payments — mere 15 per cent of adults reported using an account to make or receive payments.

You provided the link to the above quote, 1.3 Billion-53% penetration=about 700 M 15% active users = 105 Million, that's lower than 10%

So, my conclusion in post #4 still stands.

Now, I have had enough, thanks for having a polite conversation.

 

[Aniruddh]

Again

Now, I have had enough, thanks for having a polite conversation.

I would like end it on a note that we should not judge anything with stats that were posted in 2014.

From that time the bank account penetration were increased and post demonetisation, percentage of digital payments are dramatically increased.

Facebook, Samsung and Apple have more data on it than us. They are investing money. Why shouldn't they take part in an industry (digital payments) which is expected to reach $500Bn by 2020.