India: E-commerce startups suffer even as mobile wallets gain in demonetisation drive

The withdrawal of high-value notes from circulation has had a mixed impact on the country’s online businesses. Sales at e-commerce companies, which are heavily dependent on cash payments, have suffered badly while digital payment start-ups have seen a sharp rise in daily transactions. Others such as cab hailing services have seen a slight drop while food ordering and grocery delivery start-ups have seen a slight increase in business.