Steering India towards a

cashless economy

233 million

Indians have never seen a bank


balance accounts

Only 1%

-Phone number
-An Adhaar number
-Simple virtual-payments

India’s total purchases through credit


cash economy


corporates have lowest visibility of
cash position


man hours/week wasted in cash

Save on Cost
of Cash
-Capitalize on dead cash
-Loss of physical money

“The 2016 Global Payments Insight Survey: Merchants
and Retailers”
A survey of more than 1000 retailers, revealed that
merchants, billing organizations, retail banks and
transaction banks are all committing significant
investment to payment over the next 18-24 months.

.The move to ‘less cash’ has already started.

. content and entertainment—is rapidly becoming a convenient medium for making payments.The smartphone—already a Swiss-army knife of information.

real-time.What makes mobile more powerful than any other medium? It provides the opportunity for: bi-directional. interactive relationship with end users .

Means to achieve cashless economy Mobile New-age payment devices Internet & Connectivity Security Infrastructur e .

but their privacy & security concerns are higher than ever. “We want our money safer than our selfies“ – PayPal .Consumers want personalized experiences.

Govt of India.“Technology has a multiplier effect for solving social problems” Tarun Khanna Harvard Professor and Chairman. Expert Committee on Innovation and Entrepreneurship. .

80% of population covered .Aadhaar reached its milestone of registering 1 billion people.

Barriers & Catalysts in the Payments ecosystem .

Barrier #1 Tax evasion opportunities ensure cash is sticky .

Catalysts Disincentives for tax evasion: Use of cash for large transaction is the rational choice. . Costs of non-compliance have to be greater.

Barrier #2 Majority of wage earners receive cash payments that never enter the electronic payments ecosystem. .

Abhishant Pant’s 50 day cashless journey .

Catalysts • United Payments Interface • Receiving & Withdrawal is done… Spending yet to take shape .

Barrier #3 No clear roadmap for moving towards market determined charges & investments. .

• Map incumbents and disrupters • Creative business & revenue models . at least in the short run.Catalysts • New bank licensees and well funded fintechs will ensure price wars.

Barrier #4 Non-interoperable systems could increase resistance among consumers. .





Petrol stations Utilities Schools.Lets rethink payments in every sector! Hospitals Tolls. Institutions Travel sector Kiranas Public transport . Colleges.

the better the adoption rate.Insight #1 The less information the consumer has to manually enter. .

Insight #2 High demand in the B2B space. . however current regulations and market dynamics play spoil sport.

.Insight #3 Cost is too high for small ticket transactions.

Insight #4 Consumer’s expectation that . .they can get what they want with ease and speed will continue to rise.

Insight #5   We need Regular and faster settlement: .

.Insight #6 Alliances and meaningful partnerships. corporates and governments to accelerate the benefits of entrepreneurship and generate more leapfrog effects. India needs to build bridges between startups.

Let’s craft a renaissance in the Indian payments space .

…because a billion lives will thrive ! .

Thank you .