Just Being A Digital Wallet Is Not Viable Says India's Top Banker

With the evolution of the united payments interface, India's leading HDFC Bank's Aditya Puri, is critical of the future of digital wallets like Paytm and their promise of offering interest rates to consumers on savings post the launch of payment banks. Paytm is expected to launch its Paytm Bank next week. Sharply criticising the Paytm model, the Managing Director of country's second-biggest private lender, said any model that is based on not making money is not viable in the long run. Puri told Entrepreneur that just being a wallet is not going to be viable, and that wallets will have to create a bigger universe."Wallets Now when banks have wallets, why would users use external wallets," asks Puri.