![Signage for digital-payments provider Paytm, operated by One97 Communications Ltd., is displayed at a telephone booth in the Parel area of Mumbai, India, on Saturday, Jan. 28, 2017. India's Finance Ministry will recommend bold tax reform to ensure that Prime Minister Narendra Modi's growth-crimping cash ban wasn't in vain, people familiar with the matter said. Photographer: Dhiraj Singh/Bloomberg](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/SWAD6NBQ6ODXVBB6HJHCKARAWU.jpg?smart=true&auth=04dfbc66a7856aa99752c30f1f223831b790fe1841c857585ac74cb16a1f6faa&width=400&height=225)
Paytm, which is backed by Softbank and Alibaba, had 30 million active users in May. Bloomberg
Paytm, which is backed by Softbank and Alibaba, had 30 million active users in May. Bloomberg
India's mobile payments sector is heating up as Covid-19 drives digital adoption
Global payment giants are eying India as lower data costs and cheaper handsets are boosting digital payments
Rebecca Bundhun
14 November, 2020