With rapidly growing smartphone usage and sharp rise in bank accounts due to the Jan Dhan scheme, mobile wallet payments are registering the fastest growth whether it is for phone recharges, shopping online, paying for cabs and in some cases paying at brick and mortar stores. Payment by cheques while still the largest size is rapidly dropping. One of the less talked about issue is not fully being aware of the concept of money, as one does not really see it and it is all electronic.
Source: Times of India
- 22 Feb 2016