An era of digital payments


Are universally implementable digitial payments round the corner?,,

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An era of digital payments

In November 2016, the shock action of Demonetisation made Indians aware of what the whole idea of digital payments is all about! Then came the persistent pitch by many players for the same. A key concern has been – financial inclusion and technological feasibility to ensure a digital payments economy. Now, the post department has been issued a licence to start a “Payments Bank” – The India Post Payments Bank (the third such bank). Add to that the fact that 99% of Indian adults have an Aadhaar number.

If we take these two together – India Post Payments Bank (IPPB) + Aadhaar – then Indians are ready for the digital era. As we all know, in the past 5 years, normal feature phone can perform most of the banking functions. And now India Post represents a new type of banking system altogether. So, mobile phones + India Post + Telecom = a solution. Key strength of IPPB like banks (who have limited functions to perform) is unprecedented reach into the masses – a total of 1.54 lakh post offices. Telecom companies have a huge customer base + recharding shops’ network. So it is obvious that people across India, including remote regions, will take to digital payments soon. What is missing? An enabling environment by government. We don’t need complex cross-subsidies or punitive taxes on case use. Rather, push competition amongst players. Go for a silo-less approach (interoperability). Our comprehensive Bodhis on Demonetisation can be read here.

डिजिटल भुगतान का युग

नवंबर 2016 में विमुद्रीकरण के झटके ने भारतीयों को इस बात से अवगत किया कि आखिर डिजिटल भुगतान क्या हैं! इसके बाद अनेक लोगों द्वारा इसका लगातार समर्थन शुरू हुआ। मुख्य चिंता डिजिटल भुगतान अर्थव्यवस्था को सुनिश्चित करने के लिए आवश्यक वित्तीय समावेशन और प्रौद्योगिकीय व्यवहार्यता की रही है। अब डाक विभाग को “भुगतान बैंक” शुरू करने के लिए अनुज्ञप्ति प्रदान की गई है - भारतीय डाक भुगतान बैंक (इस प्रकार की तीसरी बैंक)। इसमें इस तथ्य को भी जोड़ें कि 99 प्रतिशत भारतीय वयस्कों के पास आधार क्रमांक है।

यदि हम इन दोनों को एकसाथ लें - भारतीय डाक भुगतान बैंक और आधार - तो भारतीय लोग डिजिटल युग के लिए तैयार हैं। जैसा कि हम सभी पिछले 5 वर्षों के दौरान जानते हैं कि एक सामान्य विशेषता फोन अधिकांश बैंकिंग कार्य करने में सक्षम है। और अब भारतीय डाक विभाग एक सर्वथा नई बैंकिंग व्यवस्था का प्रतिनिधित्व करता है। अतः मोबाइल फोन + भारतीय डाक + दूरसंचार = एक समाधान। भारतीय डाक भुगतान बैंक जैसी बैंकों की मुख्य ताकत (जिनकी सीमित कार्य करने की क्षमता है) है लोगों तक पहुँच की अप्रत्याशित क्षमता - कुल 1.54 लाख डाकघर। दूरसंचार कंपनियों के पास विशाल ग्राहक आधार और रिचार्ज करने वाली दुकानों का संजाल है। अतः यह स्पष्ट है कि दूरस्थ क्षेत्रों सहित भारत भर के लोग शीघ्र ही डिजिटल भुगतान को अपना लेंगे। इसमें क्या नहीं है? सरकार द्वारा प्रदान किया गया एक अनुकूल वातावरण। हमें उपयोग में जटिल पार-अनुवृत्तियों और दंडात्मक करों की आवश्यकता नहीं है। इसके बजाय कंपनियों के बीच प्रतिस्पर्धा में वृद्धि की जानी चाहिए। एक कुशूल (साइलो) विहीन दृष्टिकोण अपनाया जाना चाहिए (अंतर संचालनीयता)। विमुद्रीकरण पर एक विस्तृत बोधि यहाँ पढ़ें 

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Bodhi Saar: An era of digital payments
An era of digital payments
Are universally implementable digitial payments round the corner?
Bodhi Saar
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