Will India Go Cashless If Mobile Payments Take Off?

Wednesday, January 20, 2016

As soon as Binod Upadhyay arrives at a destination he immediately turns round to check if the customer is pulling out a wallet or a mobile phone.

“If it’s the mobile phone, then I am relieved,” he says.

For the last 25 years he’s been earning a living driving an auto-rickshaw – a yellow and black motorised three-wheeler taxi, a popular form of public transport in India’s financial capital, Mumbai.

But getting paid has not always been a smooth process for Mr Upadhyay. On many occasions both he and the customer didn’t have change, forcing them to scout for coins at nearby shops.

Sometimes, this would end up in an argument.

Source: BBC (link opens in a new window)

digital payments, financial inclusion, fintech