UAE Exchange is eyeing a 1-crore consumer base for its XPay digital wallet in one year, V George Antony, Managing Director, UAE Exchange India, has said. The non-banking finance company sees good scope for increased use of the digital wallet in the backdrop of demonetisation.
Besides payment options for buying goods and services, XPay also offers foreign-exchange booking, home-delivery facility and services such as ticket booking, loans, money transfer and prepaid mobile top-up. Currently, on an average, about 1 lakh transactions are carried out through the wallet every month, Antony said. Most of the users of the digital wallet are existing customers of UAE Exchange. The NBFC is keen to bring in more new customers to the digital wallet, Antony said.