- Paytm – der neue FinTech – Superstar?
- Mobile Wallets: Durchbruch mit Paytm?
- Paytm steigt ins Bankgeschäft ein
- Mobile Payments Revolution in Indien
- Die stille Banking-Revolution in Indien
India has exposed six core technologies: UID, UPI, eKYC, Mobile-based Digital Signature, Digital Locker (which eliminates the need to submit a paper document after the first time) and Digital Consent (which allows people to easily, transparently and securely make their profile and transaction data available to third-parties for services). In combination, these real-time digital services will enable startups to digitize and simplify everything from bank account creation to border security, from voting and subsidy distribution to tax filing and refunds across the world.
More than 200 million bank accounts have opened in the just one year and more than 300 million new debit and credit cards have been issued in the last four years, bringing the total number of cards to more than 600 million.
Imagine an interoperable world where any app built by two college kids could allow you to move money at no cost from one bank account to another. Whichever app delivered the most utility would own the value and marketshare… the exact way that WhatsApp won. In the four weeks since UPI’s launch, I have seen dozens (and soon to be hundreds) of apps built by small teams that will have the power and capability of PayPal on steroids.
Opening the gates on Indian financial data