Exclusive: App relied on by investors shows that PayTM clearly lead the e-wallets pack in December 2016
The biggest benefactors of the entire cash ban episode have undoubtedly been the e-wallet companies. From the fateful night of Nov 8, 2016, each of the country’s e-wallets has claimed an exponential increase in registrations, however, the figures have now come to be heavily contested by each other. The rivalry has now gained epic proportions with the largest now publicly claiming the other’s numbers as inflated.
The strongest voice, in this case, has emerged from MobiKwik’s co-founder, Upasana Taka, claiming that basis RBI’s data,
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On the other hand, PayTM had claimed that it crossed 177 Mn wallet users in the month of December 2016, with 80 mn active users translating to at least 80 Mn transactions.
Given the war of words, we decided to dig a little deeper and approached a third party organization that most e-wallets and their investors rely on as a measure of business growth.
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This is what the
• Paytm App downloads touched 7.2Mn in December 2016
• Monthly active user-base jumped to 92 Mn in December from 78 Mn in November
• App downloads touched 2.1 Mn in December 2016
• Freecharge’s Monthly active users were at 29 Mn in December 2016
• App downloads touched 1.1 Mn in December 2016
• Mobikwik’s monthly user base was at 15Mn in December 2016
Commenting on this, Mrs.
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When asked to share their own analytical data, Mobikwik spokesperson said that they don’t use any for comparison.
Paytm refused to give comments on the different data points.
All we can say is this space will definitely heat up further, a space that investors will closely be watching out before they put their money where the mouth is.