Connectivity, security, costs and bitcoin usage are among the key issues to be resolved as India moves towards a digitised economy.
With disruptive innovations transforming the digital payments space, India is slowly moving towards a cashless economy.
The Unified Payment Interface, or UPI, takes the payments experience a notch higher. Unlike digital wallets, where money was first loaded to make payments, UPI will allow direct transfers from your savings bank account without disclosing the account details.
Payments banks have thrown their hats in the ring to take on an established banking industry on the back of innovations and first-mover advantage. Will the banks be able to counter with equal zeal?