Mobile wallets have been rising high in the market capturing the other level of interest among people .But this rising market is only restricted to developed countries, Developing countries are still struggling with the advancement of the technology and right setup required to use these smart phone dependent wallets. The issue related to the high number of cards and bulky wallet exist in these countries as well. When demonetization of all big currency notes happened in India, A different kind of mobile wallet emerged in India called Paytm. Paytm is a digital payment platform that allows you to transfer cash into the integrated wallet, and make the payment from that integrated wallet. You can have any kind of transaction with anyone who owns a Paytm. To setup this account all you need is Mobile number and email id. You can associate your Paytm with any number of accounts and any type of card. Paytm has bridged the dependency of mobile wallets on smart phone. It has provided the facility to make the transfer from your mobile by simply sending a text. It has also removed the dependency from the vendors to install the initial setup required for the mobile wallets. The growth of the Paytm has exceeded the number of users of any other mobile wallets combined. In my opinion if it figure out a way to setup the environment to expand globally, and increase the amount of money that can be added to the integrated wallet, it can capture all the market at once.
References:
http://gadgets.ndtv.com/apps/features/what-is-paytm-and-how-to-use-paytm-wallet-1625271