“In today’s digital world, money is being substituted by its digital form and stored in Electronic Wallets or E-Wallets. In India, the concept of E-wallets saw a significant surge owing to demonetisation which took place in 2016. Given the ease of operation, convenience and safety in using E-wallets, many customers have started using one or more E-wallets provided by multiple banking or non-banking entities. Currently, there are 50+ banking and almost equal number of non-banking E-wallet issuers in India.
RSM India White Paper: Risk Management in E-Wallet Companies aims to provide an overview of the concept of E-wallets, its regulatory landscape and the key risks faced by the E-wallet issuers. In this white paper, we also talk about the key solutions we provide to support the E-wallet issuers’ stakeholders across the ‘Three Lines of Defence’ towards managing these risks.
Hope you find this white paper relevant and useful.