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.
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Ella sahodarammarkk oru advise, nanga nanga penagitt nangalo onnamatho dushman BJP gellum pole aakiranda, please please ninga ellarum onnaitt genduro chance ullo nangalo oru candidate barumpole aakonu, nangalo raya innoru UP do pole aakiranda
Brother,
Being in respectable position as a minister, he should have thought twice before making a statement. If somebody scribbles against him or speaks against him in social media like Fb and whatsapp let him file a case against them. Or let him condemn them. ಇವರನ್ನು ಟೀಕಿಸಿದವರೆಲ್ಲ ಢೋಂಗಿ ಮಾಡಿ ಗಲ್ಫ್ ಗೆ ಹೋದವರಾ? . ಧಾರ್ಮಿಕ ಕಾರ್ಯಕ್ರಮದಲ್ಲಿ ಮಾತನಾಡುವಾಗ ಸ್ವಲ್ಪ ಚಿಂತಿಸಿ ಮಾತನಾಡಿದರೆ ಅವರ ಘನತೆಗೆ ಒಳ್ಳೆಯದು.
In next election, people will decide who is the best loafer and teach him a good lesson. #Ashrafbhai Nxt Mla #UTK Koragajjana gudige
UT Khader Saab. Most of the NRIs from your region know very well that some of your opponents are not just loafers but are ugliest creatures and communal goons. But you don’t lose cool and respond to them in public. Let them go to hell. We are with you. You are a role model for many. So kindly don’t react to the loafers in their own language.
My humble request to UTK is to ignore the cheap level criticism by communal goons. Be it Bajrangis or SDPI. They really don’t deserve the attention of a great social worker and politician like UTK.
UT Khader has not twisted his statement. He never said that all NRIs are Dongi Maadi Gulf ge hodavaru. He said that Dongi Maddi gulf ge hodavaru trying to teach him how to live. And he doesn’t care them. That’s true. Nirva Modi and Vijay Malya also included in dongi parties.
ಯು. ಟಿ ಖಾದರ್ ಓರ್ವ ಶಾಸಕ ಹಾಗೂ ಸಚಿವ ಎಂಬ ಕಾರಣಕ್ಕಾಗಿ ಅವರನ್ನು ಎಲ್ಲಾ ಜಾತಿ, ಮತ, ಧರ್ಮ ಪಂಗಡದವರು ಅವರವರ ಧಾರ್ಮಿಕ ಕಾರ್ಯಕ್ರಮಗಳಿಗೆ ಆಹ್ವಾನಿಸುತ್ತಾರೆ. ಜನ ಪ್ರತಿನಿಧಿ ಎಂಬ ನೆಲೆಯಲ್ಲಿ ಖಾದರ್‌ರವರು ದೇವಸ್ಥಾನ, ದೈವಸ್ಥಾನ, ಚರ್ಚು, ಮಸೀದಿ, ಉರೂಸ್, ಸುನ್ನಿ, ಎಪಿ, ಈಕೆ, ಸಲಫಿ, ಜಮಾತೆ ಇಸ್ಲಾಂ ಎಂಬ ಬೇಧ ಬಾವ ಇಲ್ಲದೆ ಭಾಗವಹಿಸುತ್ತಾರೆ. ಅವರವರ ನಂಬಿಕೆಗಳನ್ನು ಗೌರವಿಸುತ್ತಾರೆ. ಅಂತೆಯೇ ಕೆಲ ದಿನಗಳ ಹಿಂದೆ ತಮ್ಮ ಕ್ಷೇತ್ರದ ಕೊರಗಜ್ಜ ಕಾರ್ಯಕ್ರಮದಲ್ಲೂ ಭಾಗವಹಿಸಿದ್ದರು. ಪ್ರತೀ ವರ್ಷವೂ ಅವರು ಆಹ್ವಾನಿಸುತ್ತಾರೆ ಮತ್ತು ಖಾದರ್ ಭಾಗವಹಿಸಿತ್ತಾರೆ ಇದನ್ನೇ ನೆಪವಾಗಿಸಿಕೊಂಡು ಕೆಲವರು ವಿದೇಶದಿಂದ ಸಾಮಾಜಿಕ ಜಾಲತಾಣದ ಮೂಲಕ ನಿರಂತರ ಖಾದರ್‌ರವರನ್ನು ಅತ್ಯಂತ ಹೀನಾಯವಾಗಿ ಹಿಯ್ಯಾಳಿಸಲು ತೊಡಗುತ್ತಾರೆ. ಸಾಮಾಜಿಕ ಜಾಲತಾಣದಲ್ಲಿ ಸಕ್ರಿಯರಾಗಿರುವವರು ಅದನ್ನು ಗಮನಿಸಿರಬಹುದು. ಖಾದರ್‌ರವರನ್ನು ಹಿಯ್ಯಾಳಿಸಲು ಅವರು ಬಳಸುತ್ತಿದ್ದ ಶಬ್ದ ಮತ್ತು ಭಾಷೆ ಯಾರನ್ನೂ ಒಮ್ಮೆ ರೊಚ್ಚಿಗೆಬ್ಬಿಸುವಷ್ಟು ಕೆಟ್ಟದ್ದಾಗಿರುತಿತ್ತು. ಅದಕ್ಕೆ ಪ್ರತಿಕ್ರಿಯೆಯಾಗಿ ಬರುತ್ತಿದ್ದ ಬರಹಗಳೂ ಅಷ್ಟೇ ಪ್ರಚೋದನಾತ್ಮಕ ವಾಗಿರಿತ್ತಿತ್ತು.
ಈ ಎಲ್ಲಾ ವಿಚಾರವನ್ನು ಉಲ್ಲೇಖಿಸುತ್ತಾ, ಅವರಿಗೇ ಸಂಬಂಧಿಸಿ ಉರೂಸ್ ಸಮಾರಂಭದ ವೇದಿಕೆಯಲ್ಲಿ ಖಾದರ್‌ರವರು... "ಊರಲ್ಲಿ ಮೋಸಮಾಡಿ ವಿದೇಶಕ್ಕೆ ಹೋಗಿ ಕುಳಿತು ನನಗೆ ಬುದ್ದಿ ಹೇಳುತ್ತಿದ್ದಾರೆ. ನಾನು ಎಲ್ಲಾ ಕಡೆ ಹೋಗಿದ್ದೇನೆ, ಹೋಗುತ್ತೇನೆ .. ನಾನು ತಪ್ಪಿದರೆ ನನ್ನನ್ನು ತಿದ್ದಲು ಉಲೆಮಾಗಳಿದ್ದಾರೆ. ಈ ಲೋಫರ್ ಗಳಿಂದ ನಾನು ಪಾಠ ಕಲಿಯುವ ಅಗತ್ಯವಿಲ್ಲ...." ಎಂದು
ಹೇಳಿದ್ದಾರೆ.
ಈ ವಿಡಿಯೋದ ತುಣುಕನ್ನು ವೈರಲ್ ಮಾಡಿ ವಿದೇಶದಲ್ಲಿರುವ ಎಲ್ಲಾ ಪ್ರವಾಸಿಗಳನ್ನು ಖಾದರ್ ಅವಮಾನ ಮಾಡಿದ್ದಾರೆ ಎಂದು ಬಿಂಬಿಸಲು ಪ್ರಯತ್ನಿಸುತ್ತಿರುವುದನ್ನು ನಾವು ಕಾಣುತ್ತಿದ್ದೇವೆ. ಈಗಲು ಕೆಲವರು ಖಾದರ್ ವಿರುಧ್ಧದ ತಮ್ಮ ಬರಹ ಹಾಗೂ ವಾಯ್ಸ್ ಮೆಸ್ಸೇಜುಗಳಲ್ಲಿ ತೀರಾ ಕೆಟ್ಟ ಶಬ್ಧ ಭಾಷೆ ಬಳಸುತ್ತಿದ್ದಾರೆ. ಸಾಮಾಜಿಕ ಜಾಲತಾಣಗಳಲ್ಲಿ ಸಾರ್ವಜನಿಕ ಮರ್ಯಾದೆಯನ್ನು ಮೀರಿ ನಡೆಯುತ್ತಿರು ಖಾದರ್ ಪರ ವಿರೋಧ ಚರ್ಚೆಗಳು ಸಮುದಾಯದ ಮಾನ ಹರಾಜು ಹಾಕುತ್ತಿದೆ ಇದು ಇಲ್ಲಿಗೇ ನಿಲ್ಲಲಿ ಎಂಬುದು ಎಲ್ಲಾ ಪ್ರಜ್ಞಾವಂತ ಮುಸ್ಲಿಮರ ಅಪೇಕ್ಷೆ.
UTK has insulted innocent loafers by calling communal goons as loafers
Mr. U T Khader,
Please do not twist your statement. You clearly made a statement " Dongi maadi gulfge hodavaru". Even i was a huge admirer of you till date for your simple nature and work which you have done during your tenure as a minister and MLA. But that one statement has made a big difference. I watched the video 2 to 3 times to check about the background. You were referring to a group which conducts meeting in hills(gudde) under torch light. But hope you remember that same group was in your favor when you first contested for bye-election after your father's demise. My request is not to have over confidence, which may result in ego and ultimately result in losing. So many egoistic emperors in the world have lost their empire and power. Therefore, you are not a match at all. If you want to condemn a particular group or party, name it and condemn it in specific & do not make generalized statement. Your statement of "DONGI MAADI GULFGE HOGIDDU" has hurt the sentiments of NRI community who have come here away from their families to earn a livelihood.
Kindly take your time to tender an apology for your words. May Almighty Allah bless you with good health and strength to serve the society and community in a better way.
I think in this state election only one thing will happen for sure "Ibbara Jagala Muraneyavanige Laaba"...
Last year Sangh Parivar leaders were hurt when UT Khader said those who oppose constitution should be hit with slipper. This clearly proved that they oppose constitution. Now some SDPI leaders are hurt when UT Khader said that he wants to learn lesson from Ulema and not from loafer or a person who avoids work and spends time doing useless things. This also proved who are loafers.
“Loafer” is not an abusive or derogatory word. “Communal” is more abusive and insulting word compared to “Loafer”.
Election won't decide anyone's fate. Fate will be decided by the Creator. Our prayers are with self-less politicans like UT Khader.
Feel very sad to see some fringe groups unnecessarily pulling the legs of an honest politician in the name of religion. When I embraced Islam several years ago Muslims used to spend time by fighting each other on religious matters and absurd rituals like Urus, Maulid, ratheeb etc. Now Muslims are fighting with each other by forming political parties. When these Muslims will learn lessons? When they realise their responsibilities? When they stop petty politics?
First of all loafer is not an abusive word. It just means an idle person or a ‘poli huduga’ in Kannada. But the uneducated loafers do not know the meaning of loafer i think. That’s why they making it a big issue.
Dikkara ninage Mr Khader
Bara barutha raayara kudure katthe yaayithu.....
Khader bhai... muslim community had very good hope on you & supported you on full extent... But you are going towards normal politician behind money & seat.... SUPPORT doesnt mean that only to muslims... A true leader will treat all community fair & equally... which congress & other party leaders couldnt do... Instead you are blaming our muslim brothers without having basic knowledge.... Politician doesnt understand normal person way of living that how they spend daily life & how much efforts they are taking to fulfill their family needs...
In sha allah your fate will be decided in this election..
Let the Election results tell who are loafers and cheaters In sha Allah.
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