Abstract
This paper uses an interrupted time-series approach to study the demand for mobile wallet payments in India following the imposition of social distancing measures to contain the spread of COVID-19. The study finds that although the value and volume of mobile wallet payments initially dipped once the restrictions were in place, the rate of increase in both value and volume sub-sequently rose above pre-pandemic levels. Various factors are likely to have influenced this trend, including inter alia convenience and society’s new-found aversion to transacting in cash. This paper argues that to continue to benefit from the work carried out by banks and FinTechs to simplify the process of sending and receiving payments, and encourage the sustained use of mobile wallets, policymakers need to provide the right incentives, infrastructure, regulation and strategies.
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