And the Fintech Country of the year award goes to…

If you are not following what is happening in India in the last few months, you will need to wake up and take a look. The demonetization effort launched by the Indian government has shaken this cash based economy to the core.

While everyday folks suffered a lot with trouble in exchanging the 500 and 1000 Rupee notes for the newer 2000 or older denominations, the mobile wallet scene in India saw a sudden interest and growth which was a fortunate side effect.

Companies like PayTM and MobiKwik have seen their user and transaction volumes skyrocket in the past few months. Here is a link to the Paytm growth numbers for their year ending 2016 which is crazy!

As a payments industry observer I find this growth fascinating. I can’t wait for the time when Apple would release its ApplePay numbers in open like this!

The folks in Daily Fintech have done a fantastic job in presenting the case of why India is the Fintech country to watch here in this article. Go check it out!

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