08/15/2023
| India 🇮🇳 |
Happy Independence Day.
On my recent 5 visits to India 🇮🇳 in last 4 years I have seen spread of digitalization across length and breadth of urban and semi urban and rural areas.
Though technological innovations have happened mostly in the Silicon Valley of the USA 🇺🇸; India 🇮🇳 has been the fastest country in adapting and improvising the technology to meet the requirements of different segments of the society: and spreading it to the poorest section of the population.
Indians can pay through their phone using PhonePe or PayTm using Unified Payments Interface (UPI) , linked to the customer’s back account.
Now you can pay to a small fruit and vegetable vendor on the street or a mini tea stall in a remote location of India using PhonePe or PayTm.
This cashless transaction has made life easy for the consumer as well as tiny businesses.
PayTm was introduced in India 🇮🇳 in 2010 courtesy an entrepreneur named Vijay Shekhar Sharma who founded the company in Noida .
UPI was introduced in 2016 by National Payment Corporation of India.
QR Code is widely used in India 🇮🇳 for digital transactions.
A QR code (quick-response code) is a type of two-dimensional matrix barcode, invented in 1994, by Japanese company Denso Wave for labelling automobile parts.
The beauty is how India 🇮🇳 adapted these technologies and the mass population in smallest villages and sub-urban areas learnt to use it without any formal training.
No county can beat India 🇮🇳 in adaptation and improvisation.
