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Even more than three years after demonetisation and all-out efforts to make most transactions through electronic, cash is still king, as it thrives in a digital India, said fintech start-up Paytm founder Vijay Sekhar Sharma.

"While cashless economy is not possible in India, less cash economy will be in the future. Less cash is the only solution, not the elimination of cash," Sharma told IANS in an interview after unveiling an all-in-one payment gateway on Tuesday.

Asserting that it would take 5-10 years for India to make the transition to digital payments from the traditional mode of cash, Sharma, 41, said the e-payment industry benefitted more from the November 8, 2016 note ban and withdrawal of old Rs 1,000 and Rs 500 denominations.

"I think it (demonetisation) helped the industry despite lack of specific help. But the world has changed since then. It is about the scale of distribution of merchants that is what is propelling digital payments," said Sharma.

Most of the cash not only came back into circulation, but also remains as the mode of payment for the majority due to its convenience for the people used to such transactions.

Expounding Paytm's zero service charge, Sharma said the strategy is sustainable as it leads to acquiring more customers and merchants, enabling newer business opportunities.

Paytm also does not levy a service charge to small merchants for its payments services, unlike organised players like Uber.

"Though there is a monetisation model, the merchants who are small shopkeepers, become our financial services customers as they open a bank account, which is profitable."

Paytm secured a Payments Bank license from the Reserve Bank of India to offer a savings bank account, Rupay debit card and money transfer services.

"We are banking on payment services acquiring customers and merchants who avail banking, lending, insurance, wealth and software services like billing software and business ledger software services eventually," Sharma noted.

The mobile first bank services include zero balance and zero digital transaction charge accounts.

"Basically, payments, cloud, commerce and financial services are a cohort we follow. So, payments is our customer as well as merchant acquisition. If it breaks even, we are happy because other line items make more money, he affirmed.

Noting that in a market like India, one cannot price services at a premium unlike in a developed country like the US, the billionaire businessman said a consumer in a developing country would not be able to afford such a hefty charge.

Forbes ranked Sharma as India's youngest billionaire in 2017, with a net worth of $2.1 billion.

While several countries operate on the model of higher service charges, Sharma said newer business models have to be discovered in India, as customer lifecycle value is accounted for more stages than in other nations.

Asked about an upscale retailer like Zara not giving a wallet payment option during its recent end of season sale in Bengaluru, Sharma said Paytm was addressing such hiccups with its all-in-one payment solutions.

"It's an opportunity, because if the retailer has our all-in-one point of sale machine, where in they enter the amount, it shows both the Quick Response code (QR) and card payment options," he observed.

Sharma compared older swiping payment machine to feature phones and modern ones to feature-rich smartphones.

"If you notice, they look like feature phones and the modern day card machine is more a smartphone like. You can add the smatphone components, which can add the features," reiterated Sharma.

Though Paytm's all-in-one QR point of sale machine integrates the billing system, its chief executive said it was not ideal to have an independent QR feature.

Paytm has 16 million strong merchant user base, which Sharma aims to raise to 26 million base in the next one year.

Sharma has launched in this tech city an all-in-one payment gateway and Paytm Business Payments solution, which enable digital payments through multiple methods for small and medium enterprises (SMEs) and an Android point of sale machine.

With the new gateway solution, collecting digital payments through multiple methods can be achieved seamlessly while Paytm Business Payments solution enables automated vendor payments, including employee salaries and customer refunds among others.

The One97 Communications-owned Paytm aims to help SMEs streamline and digitise their business activities using its new solutions, which enhance the overall efficiency of both accepting and making payments.

Paytm has a data bank of over 200 million saved cards and bank accounts, a feature which enables partner apps to shorten transaction times and propel faster conversions while using the all-in-one payment gateway.

Complementing the two solutions, Sharma also launched an all-in-one Android point of sale machine, which can accept payments through all forms such as cards, wallets, UPI apps and even cash.

The device has a QR code that supports all contact and contactless payments, coming with integrated billing software customized solutions for different sectors such as catering, ticketing, parking and others.

The handheld Android device is equipped with an in-built printer, scanner and can also generate bills.

Valued at $16 billion, Paytm is not alone in the fiercely competitive Indian fintech space where a dozen players like PhonePe, MobiKwik, Kotak 811 and deep pocketed international giants Google Pay and Amazon Pay are in the fray.

Mangaluru, Jan 2: Seven achievers from various fields including Kannada writer and thinker Boluvaru Muhammad Kunhi have been chose for ‘Sandesha’ Awards for the year 2020.

Announcing this at a press meet in the presence of Sandesha director Fr Francis Assisi Almeida, writer Na D’Souza said that the award ceremony will be held on 9 February 2020 at 5:30 pm at the Sandesha Premises.

Bishop of Ballari Diocese and president of Sandesha Foundation, Dr Henry D’Souza will preside over. President of Karnataka Sahitya Academy Dr B V Vasanth Kumar will be the chief guest. Bishop of Mangaluru Diocese Dr Peter Paul Saldanha and Bishop of Udupi Diocese Dr Gerald Isaac Lobo will be the guests. MLA of Mangaluru South Constituency Vedvyas Kamath and Film Music Director Cajetan Dais will be the guests of honour”.

Awards and Awardees

1. Sandesha Literature Award (Kannada)- Mr. Boluvaru Muhammad Kunhi

He was born in 1951at Puttur. He has secured gold medal in Kannada Post Graduation from Mysore University. At present he is retired and settled at Bangalore after serving 40 years in Syndicate Bank as an officer.

He is the only Indian writer conferred with Central Sahitya Academy twice (2010 & 2016) for creative prose. He is also the first ever Kannada writer conferred with `BalaSahityaPuraskar’ by Central Sahitya Academy. His epic 1,110-page opus named "Swathranthada Ota" (in English: The run for independence) released on 18 March 2012 at RavindraKalakshetra, Bangalore by the world famous Sarod artist Pandit Rajiv Taranath.

He worked as Senate Member in Hampi Kannada University, Kannada Sahitya Academyand KannadaPustakaPradhikara. He also worked as State president for `Samudaya’ Cultural Organisation, as Convener to BandayaSahityaSangha, as Edirot to GIANT (Syndicate Bank's House Magazine) KRISHILOKA (Syndicate Bank's Magazine), as member to RDC (Syndicate Bank's Rural Development Institute), Self-Employment Training Institute (RUDSETI- Dharmastala). He was the President for Kannada BelesiBalaga and ChitraSamudaya (Film Division)

2. Sandesha Literature Award (Konkani): Mr. ValliVagga (Mr. Valerian D Souza)

He was born at Vagga of BantawalTaluk of Dakshina Kannada in the year 1947. His pen name is ‘ValliVagga’. He was an industrialist and at present he is retired and continuing is service in literature. In 55 years of his service in the field of Konkani literature, he has written some 150 short stories, 140 poems and 120 articles in different papers, magazines and websites. Out of these articles, some 40 articles have been translated and published in different papers.

He has published 8 books and his Konkani drama “KhandhiKuris” has already had 13 exhibitions. He has been honoured by Karnataka Konkani Academy, Konkani Kutam Bahrain and Daiji Dubai and also he has worked at various capacities in the field of Konkani Literature.

3. Sandesha Media Award: Mr. Shiv Kumar

Professionally he is an engineer and living in Bangalore. For the last 32 years he has been running a magazine called “Aparanji” as an editor. Already he has written 12 books and through his jokes, literature and science he has been decimating information to the general public.  For his literary work in jokes, he has been awarded with Karnataka Sahitya Academy award.

4. Sandesha Konkani Music Award: Mrs. Helen D’Cruz

Mrs.Helen Correa was born in Africa to late Flora and Alexander Correa. In Mumbai Helen was working for women’s magazine Eve’s weekly and had the opportunity to meet some of the best Bollywood actors and singers notable among them GeetaDutt and Hemant Kumar. She has also worked closely with late DivyaniChaubal, writer-columnist and well-known film critic.

She is one of the greatest legends of Konkani stage who stood her own along with Bollywood fame Hemanth Kumar and SangeethSamrat Henry D’Souza. She is known for immortal Konkani hits like ‘Ye..Ye..Katrina’, ‘ChondremUdevnAilo’, ‘GharasoDivo’, ‘SuryachiKirnam’, and many more. Helen’s music journey from Africa–Mangalore–Mumbai-Kuwait-Mumbai is quite astonishing.

Helen had created a sensation in the Konkani music world with her melodious and mellifluous voice in the early 60s and 70s thus giving a big fillip to Konkani music. She was the first reputed Konkani female singer in Mumbai. “SuryachinKirnan” of Jerome D Souza was her first song in radio in 1961 and with that Helen the singer had arrived on the scene. She sang many songs with Alphonso D Costa and also with Henry D Souza.

Helen has also cut an album with Henry D’ Souza with some memorable songs like “ChandremUdevn”, “Sezari”, “GharachoDivo” and of course “Katrina”. Though all the songs were quite melodious and hummable Katrina song hit the bull’s eye. Helen recalls that in during the general elections in Goa the Katrina song had gained lot of fame. Helen also reached the zenith of her popularity with some of the evergreen numbers like “DaryachaDaryachaLarani”, written by Henry, “KalzanthUllasBhorla, BhovtinVaren Valla.” “NaamvmujeLeena”, “Sanjecha Velar” (both tunes by Helen). Helen has also written lyrics of the song “TuMaka”. Apart from Alphonso, Henry and Hemant Kumar, Helen has sung with Jerome D Souza and Henry Moraes (in plays).

5. Sandesha Art Award: Dr. K. S. Pavithra

She is Psychiatrist by profession. Not only she is a good physician and researcher but also a good dancer (Artist). She has done her studies in Bharatnatyam and presently teaching several students. She is the director of Shri Vijay Kalanikethan ® at Shimoga. She has performed various dance programmes at the international level too.

As a dancer and also as a coordinator she has performed many programmes at the national and international level. She has received regional, national and international awards and also she is one among the 25 artists selected by India to participate for the International Festival.

6. Sandesha  Teacher Award: Mrs. Justin D Souza

For the past five decades, as a head of the Siddaganga Education Institution at Davanagere, Mrs. Justin D Souza has served in the field of education along with areas of culture, sports, science and art. She has given prominence to her students to build the leadership in the society by providing them proper channels and avenues.

She has set an example to others by creating environment friendly school and worked hard to recognize her school as a ‘school free from waste materials’. She has been working as a member of several associations of literature and published a book by name “SiddagangeyaSiri”.

She has bagged several awards namely “SevaDhurine”, “Shikshana Shri”, “ShikshanaSiri”, “ShramikaMahile” “Sharada” “Avva” “Kayaka Shri”, “VratthiChaitanyaRatna”, “ShikshanaShiromani” “VidhyadhareSarsvathi” and so on. She has been honoured with Kannada Rajyostva Award too.

7. Sandesha Special Recognition Award- Achievement: Mr. Vincent Prakash Carlo:

For the past 31 years, he has been in the field of Body building and power lifting and he has represented India at International level and brought honour to the nation. He has been a great inspiration to the youth and others to get motivated to keep a healthy body by getting trained themselves under his effective training.

He is from Mangalore. He is a Body Builder and Power lifter. He has participated in 11 international competitions and bagged 2 Gold, 1 Silver and 2 bronze. He has participated in 24 National Level and 28 state level Competitions and bagged 28 Gold, 17 silver and 7 bronze medals.

He has been honoured twice with “Strong Man of India” and twice as “Strong man of South India”

Chikkamagaluru, June 6: The Chikkamagaluru district has become free from confirmed cases of COVID-19.

The last two of the 16 covid patients in the district were discharged today after they were treated and tested negative.

P 2765, a 28-year-old man and P 2766, a 38-year-old man were discharged, said Deputy Commissioner Dr Bagadi Gautham. Nine others were discharged from hospital yesterday.

Till May 22, Chikkamagaluru district had not recorded any positive and had remained a green zone till then.

However, with the influx of stranded people from Maharashtra and Delhi, the district had registered 16 covid positive cases.

 “As on today, there are no active covid-19 cases in the district. However, we should be attentive and take all the precautionary measurers,” the DC said.

The officer has appealed to the public to maintain social distancing in public places and wear masks.