Mobile phones are now poised to usher in mobile money as an everyday form of currency in India, with $350 billion of payments and banking transactions flowing through them by 2015.However, mobile money will not be a large generator of fees for telecom operators, as the total fee pool of $4.5 billion will be split across several entities, according to the Boston Consulting Group (BCG).
Just over $235 billion of annual credit and debit card transactions occur in India today, a figure dominated by around $215 billion of cash withdrawals at ATMs.
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