The payment industry in India is expected to witness multifold growth in the next few years with the entry of payments banks and small finance banks and several payment modes like mobile wallets and prepaid cash cards. Further, it will be interesting to see how bigger banks, payments banks, small banks, wallet providers and payment service providers work in tandem to drive financial inclusion. Still, one can safely say that these changes will boost e-transactions, which represents a good business opportunity for every player in the payment industry. This industry has been growing steadily over the past few years. Card transactions, both by debit and credit cards, are on an upward trajectory....
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