India: Digital payment platforms record surge in transactions after demonetization

Paytm, MobiKwik and other mobile payment and e-commerce platforms recorded a surge in transactions after the demonetization of Rs500 and Rs1,000 bank notes on Tuesday.

ATMs were shut on Wednesday after the surprise announcement by Prime Minister Narendra Modi that the high-value notes would cease to be legal tender from Tuesday midnight as part of the battle against black money.

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