Last week was a landmark week for all Indians and by sheer coincidence; the country witnessed the launch of two generational shifts. The one that has everyone excited is Jio, a pure, data-only high-speed mobile network. The other that perhaps will have equal transformational impact is its peer in the world of digital payments, the Unified Payment Interface (UPI). As soon as I had my first...
Japan introduced ‘Zengin’, a real-time money transfer mechanism in 1973. Thirty Seven years later, NPCI (National Payments Corporation of India) introduced IMPS (Immediate Payment Service) in 2010 as the first real-time 24*7 money transfer mechanism in the country. In-between PayPal launched money transfer by just knowing a person’s email ID in 1999 and now in 2016, India is about to make UPI...
India is the third largest smartphone and mobile internet user market in the world with over 200 million internet users in 2013. The figures are expected to touch a staggering 500 million users by 2017, including 314 million mobile internet users according to a report by IAMAI and KPMG. Clearly, mobile phones are the ‘computing device of choice’ for the country. To keep up the momentum, the...
