Gupshup – an Indian messaging platform to build payment solution for feature phones
By MYBRANDBOOK
For building a feature phone based payment solution in the country, an Indian messaging platform has won a $100,000 challenge.
This clearly states the importance of over half a billion people who do not have a smartphone and now they can easily and securely transact through their feature phones.
The solution uses APIs or encrypted SMS to enable UPI payment through BillPay SMS, QR Code, or contacts.
The challenge has been launched by National Payments Corporation of India, Bill and Melinda Gates Foundation and Centre for Innovation Incubation and Entrepreneurship. Though it received many applications from banks, telecom companies and start-ups but 'Gupshup' stole the show.
Winners will get NCPI support in India for piloting. They will also receive support from CIIE.CO's Bharat Inclusion Initiative which provides a continuum of support across incubation, acceleration and seed-funding to innovators leveraging technology to build inclusive businesses.
National Payments Corporation of India said that once feature phones are equipped with the latest technology for payments, the country would be witnessing redefined customers' behaviour towards digital payments.
Priyanka Chopra, COO of CIIE said, "The need for flexible and easy-to-use contactless payment solutions for users across all segments has become even more salient in today's environment. It was heartening to see the diversity and simplicity of solutions looking to tackle this problem."
Besides this, Pawan Bakhshi, India Lead, Financial Services for the poor at the Bill & Melinda Gates said, "The challenge supports the foundation's continuous effort to ensure that the poor have access to the relevant formal financial products and services which they can use to build more prosperous and secure lives for themselves and their communities."
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