What happens when the country’s biggest bank, state-owned, and its largest mobile wallet firm, privately-owned and backed by Chinese investors, cannot co-exist?
India knows the answer.
SEE ALSO: Indians sign up for mobile wallets after most cash rendered useless
Over the last one week, customers using the State Bank of India’s (SBI) internet banking system have been disallowed from transferring money to their Paytm wallets.
Instead, SBI has been recommending them to use its own e-wallet — State Bank Buddy. At the time of writing this, the app had notched up 5 million downloads on Google Play Store. …
More about Ecommerce, Demonetization, Paytm, Sbi, and Mobile Wallet – Source
India's public bank blocks largest mobile wallet, promotes its own