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CNN-News18 & Federal Bank to revolutionize primetime news

CNN-News18 & Federal Bank to revolutionize primetime news
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Cash out: Mobile wallet payments may hit Rs 532 trn in 2028

Mobile wallet adoption is surging in India and swiftly becoming a primary payment option, surpassing traditional methods like cash and cards. Over the next few years, payments via mobile wallets in India are likely to surpass the Rs 531.8 trillion mark in 2028, witnessing a compound annual growth rate (CAGR) of 18.3 per cent between 2024 and 2028, according to GlobalData - a London-based leading data and analytics company. The value of mobile wallet payments in India, as per a GlobalData report, grew at a CAGR of 72.1 per cent between 2019 and 2023 to reach Rs 202.8 trillion ($2.5 trillion) in 2023.

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Mobile wallet payments in India to surpass $6 trillion in 2028: GlobalData

Mobile wallet payments in India to surpass $6 trillion in 2028: GlobalData
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Mobile wallet usage in India to grow at 18 3%, touch $6 4 trillion in 2028

GlobalData, a leading data and analytics company, in its report, said the acceptance and growing popularity is mainly due to the government’s focussed efforts on digital payment methods, like unified payments interface (UPI).

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Mobile wallet payments in India to breach $6-trillion mark in 2028: GlobalData

Mobile wallet payments in India to breach $6-trillion mark in 2028: GlobalData
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