“We’d call that as the tipping point now, and we just feel that it’s very important that we give our customers that access, and so that’s exactly why we’ve made the decision to divert our resources onto that, to bring that to our customer base as quickly as practical.” Digital wallets will soon be demanded by the customers of all banks, said Members Equity Bank, which halted the development of its credit card platform to concentrate on launching a digital wallet product as soon as possible. The bank's statutory profit declined by 11% in H1 results, attributed to both the decision to halt the credit card platform and the decommissioning of an IT system. In his letter to shareholders, Mr Rajan also announced that he would not seek re-election for another term at RBI, but instead retire from public service after serving two terms ending 31 March 2017.
Digital wallets will soon be demanded by the customers of all banks, said Members Equity Bank, which halted the development of its credit card platform to concentrate on launching a digital wallet product as soon as possible. The bank's statutory profit declined by 11% in H1 results, attributed to both the decision to halt the credit card platform and the decommissioning of an IT system. In his letter to shareholders, Mr Rajan also announced that he would not seek re-election for another term at RBI, but instead retire from public service after serving two terms ending 31 March 2017.