Both social media and messaging app companies are banking on their popularities among users to enter the digital finance market. They are hoping that users of the messaging apps will show similar interest in using them as digital wallets, said A.P Hota, Managing Director, National Payments Corporation of India.
There are strict regulations which must be followed when launching digital payment systems and all messaging services must comply with these. No company can afford to risk the security of consumers' transactions as the competition is too thick to commit such errors, said Mr. Hota
NDTV along with MasterCard is launching a multi-platform campaign “Cashless Bano India”, to create digital awareness and educate the masses about digital payment solutions for day to day transactions.
The campaign aims to take the message of a cash free India to the country, all while educating them on the ways and means to do it.
We aim to reach out to people and educate them on:
1). Digital and financial literacy
2). New generation digital payment solutions
3). Enabling merchants and consumers to understand and adopt secured and safe payment Solutions
4). Ease of usage at point of sales