Cybersecurity Analysis in the Context of Digital Wallets

A Recent study by industry body ASSOCHAM suggests that the e-Commerce market in India might attain $38 billion in 2016. In February 2016; a report by Counterpoint Research stated that India had achieved the second largest smartphone market in the world with 220 million smartphone users. Nowadays, digital wallet and mobile banking apps which allow fast transaction anywhere any time play a significant role in the digital transactions. This brings into focus the security issues related to these apps. Keeping these facts in view in the present study we investigate the security constraints of some digital wallet and mobile payment apps in India