Indians went on an iPhone buying spree after government demonetized currency

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India’s push to invalidate much of its cash earlier this month has taken a toll on several businesses including smartphone sales, but at least, one player, Apple will have little to complaint about. 

Following India’s Prime Minister Narendra Modi’s major announcement, Apple sold more than 100,000 iPhones in India in three days, according to industry estimates cited by the Economic Times

With demonetization of Rs 500 and Rs 1,000 currency notes, the Indian government aims to curb “black money”, or the cash that remains unreported to tax authority. Following the announcement, some rushed to shopping malls to purchase gold and other luxury items including iPhones to get rid of the their existing stash of currency bills while they could.  Read more…

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MobiKwik’s new Lite app will let you go cashless on any network, any phone in India

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Amid India’s transition to new currency notes, epayment solutions are leaving no stones unturned to emerge as a viable substitute for paper cash.

Today MobiKwik announced a ‘Lite’ version of its Android app that merchants can install on their phones and cater to even those users who rock a feature phone. The app also supports slow networks such as Edge and local language Hindi for wider reach. 

Though India is the world’s fastest growing smartphone market, feature phones still dominate in the country. Compared to roughly 300 smartphones India has, there are over 700 feature phonesRead more…

More about Currency, Mobile Wallet, Epayment, India, and Tech