The Govt is planning to launch more initiatives this year and few in the next two years. The Govt will mandate the use of digital payments, above a certain threshold.
Mobile commerce platform FreeCharge has introduced a new feature called ‘Chat and Pay’, which will enable Person-to-Person and Person-to-Merchant interfaces for Digital Payments. FreeCharge says the service will help customers to chat and pay in a secure way to friends, family and merchants in less than 5 seconds. It will also enable merchants to accept digital payments in less than 1 minute after registering on the FreeCharge App.
Alternate banking channel FINO Paytech and Tata Communications Payment Solutions, which operates the Indicash white-label ATM network, have signed a strategic partnership to financial inclusion in the country. The companies will set up more ATM services & financial and VAS in underbanked geographies. The installations are expected to go live first in Gurgaon, Faridabad and Pune and will extend to 100 outlets by the end of the fiscal in states like Maharashtra, Uttar Pradesh, Andhra Pradesh, Tamil Nadu, Delhi, Gujarat, Haryana and Karnataka.