MUMBAI: Indian instant messaging platform Hike has rolled out an in-app electronic payments wallet in a bid to cash in on rising digital transactions, replicating similar services offered by its backer Tencent Holdings in China.
E-payments have surged in India since a shock ban of high-value bank notes in November last year. Providers such as Paytm, backed by Alibaba and SoftBank Group, have rapidly increased their share of the market amid predictions it will jump nearly 10 times to US$500bil by 2020.
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