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(14466, 13, '2018-05-25 06:38:50', '2018-05-25 06:38:50', '[vc_row full_height=\"yes\" equal_height=\"yes\" content_placement=\"middle\" type=\"image\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"0\" padding_bottom=\"0\" bg_image=\"10902\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner el_class=\"title-text\" width=\"1/3\" offset=\"vc_col-md-5\" css=\".vc_custom_1521816908544{margin-top: 20% !important;padding-right: 12% !important;}\"][vc_custom_heading text=\"CATALYZING FINANCIAL SERVICES IN INDIA\" font_container=\"tag:h2|font_size:36px|text_align:left|color:%23ffffff|line_height:42px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1507879776004{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#ffffff\" font_size=\"24px\" letter_spacing=\"\" el_class=\"subtitle\" css=\".vc_custom_1521820283944{padding-right: 12% !important;}\"]The Catalyst  Incubator ‘Fintech for the Last Mile’  promotes innovative and scalable fintech solutions that address the needs of  traditionally underserved market segments.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1500361612396{padding-right: 0px !important;padding-left: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"190px\" visibility=\"hidden-xs\"][kleo_gap size=\"50px\"][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" padding_bottom=\"0\"][vc_column][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][vc_single_image image=\"10858\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"left-to-right\"][/vc_column_inner][vc_column_inner width=\"7/12\"][vc_custom_heading text=\"Building for the Last Mile\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23000000|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]While the infrastructure to build inclusive financial services has recently been upgraded with the roll-out of UPI, Aadhaar, and India Stack, we are yet to see the power of these systems delivered to end users at scale. There also remains massive scope to build deeper and more targeted workflows on top of an increasingly commoditized payment transaction layer. These software, hardware, or in certain cases, operational solutions can generate tangible and immediate value to key stakeholders across commercial use cases – be it through analytics, access to financing, or streamlined business processes. Catalyst, as part of its broader mission to help small business ecosystems access the benefits of digital finance, will co-design, analyze &amp; validate, as well as enable the scaling of successful solutions. Towards this end, Catalyst offers innovative entrepreneurs technical and financial assistance in the form of performance-based financing, ground operational resources, research methodologies, broader ecosystem linkages, and domain expertise.\r\n\r\nThe first round of selection of the incubatees took place in February 2018 where five applicants were selected.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" padding_top=\"20\" padding_bottom=\"20\"][vc_column][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"7/12\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]We attracted 51 qualified leads through privileged channels like VCs, impact investors, incubators, universities, mentors, and social media\r\n\r\n<strong>Pipeline: Applicants across 13 sectors and 14 cities</strong>\r\n<ul>\r\n 	<li>Top Sectors: Credit (~39%), Payments (~18%), Invoice Management (~12%)</li>\r\n 	<li>Locations: 14 cities including Jaipur, Kanpur, Aligarh, and Bhubaneswar</li>\r\n 	<li>Startup vintage ranged between 1 month to 15 years..</li>\r\n 	<li>One fifth of applicants had a female(co-)founder</li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"5/12\"][vc_single_image image=\"13024\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" padding_top=\"0\" visibility=\"hidden-xs,hidden-sm,hidden-md,hidden-lg,hidden-xlg\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner][vc_custom_heading text=\"PARTNERS\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23000000|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n<p style=\"text-align: center;\">Incubator partners provide front-end infrastructure, program management and mentorship under their roof</p>\r\n[/vc_column_text][vc_single_image image=\"13027\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n<p style=\"text-align: center;\">Catalyst provides the \'operating system\' for incubators by integrating participating startups into labs, partner ecosystem, and ground level behavioral leaning infrastructure</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row][vc_row el_id=\"start-up\" type=\"image\" visibility=\"hidden-xs,hidden-sm,hidden-md,hidden-lg,hidden-xlg\"][vc_column][vc_custom_heading text=\"THE FIVE SHORTLISTED START-UPS \" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_row_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1522822556466{padding-bottom: 20px !important;}\"][vc_column_text letter_spacing=\"\" el_id=\"clientlogo\"]\r\n<div class=\"startup-logo\"><a class=\"toggle\" href=\"https://fingpay.co.in/wp/\" target=\"_blank\" rel=\"noopener noreferrer\" data-target=\"fingpay\"><img class=\"aligncenter\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/03/fingpay.jpg\" alt=\"fingpay\" /></a></div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\" css=\".vc_custom_1527243638109{padding-right: 15px !important;background-color: #e5e7e6 !important;}\" el_id=\"videolink\"]\r\n<div class=\"team-member-container\">\r\n<div class=\"team-member\">\r\n<p class=\"video-div\" style=\"text-align: right;\"><a class=\"toggle\" data-target=\"fingpay\">Watch the video <img class=\"alignnone size-full wp-image-14469\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/05/video.jpg\" alt=\"\" width=\"24\" height=\"16\" /></a></p>\r\n\r\n</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\" css=\".vc_custom_1522822971844{padding-bottom: 25px !important;}\"]\r\n<p style=\"text-align: left;\"><strong><a href=\"https://fingpay.co.in/wp/\" target=\"_blank\" rel=\"noopener noreferrer\">Fingpay </a></strong>is a payment and collection solution that enables merchants to accept digital payments from customers who do not have either a card, wallet, or a mobile.</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text letter_spacing=\"\"]\r\n<div class=\"startup-logo\"><a class=\"toggle\" href=\"https://paynearby.in/\" target=\"_blank\" rel=\"noopener noreferrer\" data-target=\"paynearby\"><img class=\"aligncenter\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/03/paynearby.jpg\" alt=\"paynearby\" /></a></div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\" css=\".vc_custom_1527244207257{padding-right: 15px !important;background-color: #e5e7e6 !important;}\"]\r\n<div class=\"team-member-container\">\r\n<div class=\"team-member\">\r\n<p class=\"video-div\" style=\"text-align: right;\"><a class=\"toggle\" data-target=\"paynearby\">Watch the video <img class=\"alignnone size-full wp-image-14469\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/05/video.jpg\" alt=\"\" width=\"24\" height=\"16\" /></a></p>\r\n\r\n</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\" css=\".vc_custom_1522823006369{padding-bottom: 25px !important;}\"]\r\n<p style=\"text-align: left;\"><strong><a href=\"https://paynearby.in/\" target=\"_blank\" rel=\"noopener noreferrer\">Paynearby</a></strong> enables existing corner shops to become a digital financial services hubs, thereby creating the world’s largest hyperlocal fintech network.</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text letter_spacing=\"\"]\r\n<div class=\"startup-logo\"><a class=\"toggle\" href=\"http://www.merapaper.com/\" target=\"_blank\" rel=\"noopener noreferrer\" data-target=\"merapaper\"><img class=\"aligncenter\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/bix.jpg\" alt=\"merapaper\" /></a></div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\" css=\".vc_custom_1527244281987{padding-right: 15px !important;background-color: #e5e7e6 !important;}\"]\r\n<div class=\"team-member-container\">\r\n<div class=\"team-member\">\r\n<p class=\"video-div\" style=\"text-align: right;\"><a class=\"toggle\" data-target=\"merapaper\">Watch the video <img class=\"alignnone size-full wp-image-14469\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/05/video.jpg\" alt=\"\" width=\"24\" height=\"16\" /></a></p>\r\n\r\n</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\" css=\".vc_custom_1522823058819{padding-bottom: 25px !important;}\"]\r\n<p style=\"text-align: left;\"><strong><a href=\"http://www.merapaper.com/\" target=\"_blank\" rel=\"noopener noreferrer\">Merapaper</a></strong> provides a micro-ERP to digitize the customer lifecycle, billing, and payments for small B2C merchants.</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text letter_spacing=\"\"]\r\n<div class=\"startup-logo\"><a class=\"toggle\" href=\"https://www.onymy.net/\" target=\"_blank\" rel=\"noopener noreferrer\" data-target=\"paybee\"><img class=\"aligncenter\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/03/paybee.jpg\" alt=\"paybee\" /></a></div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\" css=\".vc_custom_1527244307240{padding-right: 15px !important;background-color: #e5e7e6 !important;}\"]\r\n<div class=\"team-member-container\">\r\n<div class=\"team-member\">\r\n<p class=\"video-div\" style=\"text-align: right;\"><a class=\"toggle\" data-target=\"paybee\">Watch the video <img class=\"alignnone size-full wp-image-14469\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/05/video.jpg\" alt=\"\" width=\"24\" height=\"16\" /></a></p>\r\n\r\n</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\" css=\".vc_custom_1522823098653{padding-bottom: 25px !important;}\"]\r\n<p style=\"text-align: left;\"><strong><a href=\"https://www.onymy.net/\" target=\"_blank\" rel=\"noopener noreferrer\">Paybee’s</a></strong> solution automates and digitizes B2B collections in the distributor-retailer value chain.</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text letter_spacing=\"\"]\r\n<div class=\"startup-logo\"><a class=\"toggle\" href=\"https://kaleidofin.com/\" target=\"_blank\" rel=\"noopener noreferrer\" data-target=\"kaleidofin\"><img class=\"aligncenter\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/03/kaleidofin.jpg\" alt=\"kaleidofin\" /></a></div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\" css=\".vc_custom_1527244360235{padding-right: 15px !important;background-color: #e5e7e6 !important;}\"]\r\n<div class=\"team-member-container\">\r\n<div class=\"team-member\">\r\n<p class=\"video-div\" style=\"text-align: right;\"><a class=\"toggle\" data-target=\"kaleidofin\">Watch the video <img class=\"alignnone size-full wp-image-14469\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/05/video.jpg\" alt=\"\" width=\"24\" height=\"16\" /></a></p>\r\n\r\n</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\" css=\".vc_custom_1522823128780{padding-bottom: 25px !important;}\"]\r\n<p style=\"text-align: left;\"><strong><a href=\"https://www.kaleidofin.com/\" target=\"_blank\" rel=\"noopener noreferrer\">Kaleidofin </a></strong>is a fintech platform that propels the un/under-banked towards meeting their real life goals by providing tailored financial solutions at scale.</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"start-up\" type=\"image\"][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: center;\"><strong>Fintech for the Last Mile: Celebrating a one year mark</strong></p>\r\nOver the past year, Catalyst has supported five innovative companies with new solutions tailored specifically for underserved populations. Learn more about the program, the participating companies, and our plans ahead.[/vc_column_text][vc_column_text letter_spacing=\"\"]<iframe src=\"https://www.youtube.com/embed/QHkupHSNkGU?rel=0&amp;showinfo=0\" width=\"100%\" height=\"450\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"></iframe>[/vc_column_text][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row][vc_row][vc_column][kleo_button title=\"Download\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/12/Incubator-Infograph.pdf\" target=\"_blank\" position=\"center\" size=\"lg\" type=\"boxed-icon\" special=\"no\" icon=\"download\" font_size=\"14\" letter_spacing=\"\" el_class=\"pkirbtn\" icon_custom_background=\"#d11e3c\" icon_custom_text=\"#ffffff\"][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#ffffff\" padding_top=\"\" padding_bottom=\"\"][vc_column][vc_column_text letter_spacing=\"\"]\r\n<div id=\"fingpay\" class=\"team-profile-container startup-box\">\r\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\r\n<h2 class=\"pteam-member-name\"></h2>\r\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sapna\">X</a></div>\r\n</div>\r\n<div class=\"pteam-member-details\"><iframe id=\"video1\" src=\"https://www.youtube.com/embed/0QJQOsyrJwY\" width=\"100%\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"></iframe></div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div id=\"paynearby\" class=\"team-profile-container startup-box\">\r\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\r\n<h2 class=\"pteam-member-name\"></h2>\r\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sapna\">X</a></div>\r\n</div>\r\n<div class=\"pteam-member-details\"><iframe id=\"video2\" src=\"https://www.youtube.com/embed/Jc0IQGnIiEA\" width=\"100%\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"></iframe></div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div id=\"merapaper\" class=\"team-profile-container startup-box\">\r\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\r\n<h2 class=\"pteam-member-name\"></h2>\r\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sapna\">X</a></div>\r\n</div>\r\n<div class=\"pteam-member-details\"><iframe id=\"video3\" src=\"https://www.youtube.com/embed/kxAjPD3Jwpw\" width=\"100%\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"></iframe></div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div id=\"paybee\" class=\"team-profile-container startup-box\">\r\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\r\n<h2 class=\"pteam-member-name\"></h2>\r\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sapna\">X</a></div>\r\n</div>\r\n<div class=\"pteam-member-details\"><iframe id=\"video4\" src=\"https://www.youtube.com/embed/UOjszwnqUE8\" width=\"100%\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"></iframe></div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div id=\"kaleidofin\" class=\"team-profile-container startup-box\">\r\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\r\n<h2 class=\"pteam-member-name\"></h2>\r\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sapna\">X</a></div>\r\n</div>\r\n<div class=\"pteam-member-details\"><iframe id=\"video5\" src=\"https://www.youtube.com/embed/lyOy62lqnSY\" width=\"100%\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"></iframe></div>\r\n</div>\r\n[/vc_column_text][/vc_column][/vc_row][vc_row type=\"image\" bg_attachment=\"true\" enable_parallax=\"false\" bg_image=\"11192\"][vc_column][vc_custom_heading text=\"THE PROCESS\" font_container=\"tag:h2|font_size:32px|text_align:center|color:%23ffffff|line_height:38px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1521811267105{margin-bottom: 0px !important;padding-bottom: 10px !important;}\"][vc_empty_space height=\"30px\"][vc_row_inner el_class=\"phide-mobile\"][vc_column_inner][vc_single_image image=\"11211\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\" css=\".vc_custom_1504618212057{margin-bottom: 0px !important;}\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" el_class=\"phide-desk\"][vc_column_inner width=\"1/3\"][vc_single_image image=\"11193\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"left-to-right\" css=\".vc_custom_1504617282081{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Up to 33 lakhs<sup>*</sup>\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1504592402026{padding-right: 13% !important;padding-left: 13% !important;}\"]\r\n<p style=\"text-align: center;\">per award for activities lasting up to six months and additional benefits</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"11194\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\" css=\".vc_custom_1504617305542{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Opportunity to refine your product or service\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1504592597893{padding-right: 11% !important;padding-left: 11% !important;}\"]\r\n<p style=\"text-align: center;\">and test hypotheses over six months in a dynamic market environment</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"11195\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css=\".vc_custom_1504617330456{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Mentorship from thought leaders\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1504592651052{padding-right: 9% !important;padding-left: 9% !important;}\"]\r\n<p style=\"text-align: center;\">in digital finance companies, social enterprise, and technology entrepreneurship</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_empty_space height=\"30px\"][vc_row_inner equal_height=\"yes\" el_class=\"phide-desk\"][vc_column_inner width=\"1/3\"][vc_single_image image=\"11196\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"left-to-right\" css=\".vc_custom_1504617352679{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Access to small businesses,\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1521817360295{padding-right: 7% !important;padding-left: 7% !important;}\"]\r\n<p style=\"text-align: center;\">customers, and suppliers in Jaipur to test your product or service, run pilots, and validate hypotheses</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"11197\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css=\".vc_custom_1504617375877{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Access to Catalyst’s research team\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1504593351421{padding-right: 6% !important;padding-left: 6% !important;}\"]\r\n<p style=\"text-align: center;\">and on-ground learning infrastructure</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"11017\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css=\".vc_custom_1504594166943{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Access to Catalyst’s broader partner ecosystem,\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1504593598231{padding-right: 6% !important;padding-left: 6% !important;}\"]\r\n<p style=\"text-align: center;\">including other fintech companies, traditional financial institutions and government &amp; policy stakeholders</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#ffffff\" font_size=\"12px\" letter_spacing=\"\" el_class=\"lh18\"]\r\n<p style=\"text-align: left;\"><sup>*</sup>inclusive of all taxes</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#373a3a\"][vc_column][vc_custom_heading text=\" MEET SOME THOUGHT PARTNERS\" font_container=\"tag:h2|font_size:32px|text_align:center|color:%23ffffff|line_height:38px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1504945146949{margin-bottom: 0px !important;padding-bottom: 10px !important;}\"][vc_row_inner css=\".vc_custom_1504876397167{margin-top: 40px !important;}\"][vc_column_inner width=\"1/4\"][vc_single_image image=\"11256\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][vc_custom_heading text=\"Rakesh Mishra\" font_container=\"tag:div|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_custom_heading text=\"Chief Program Advisor\" font_container=\"tag:div|font_size:14px|text_align:center|color:%23ffffff|line_height:20px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pwhite\"]\r\n<p style=\"text-align: center;\"><a class=\"popmake-11270\" href=\"#\">Bio</a>\r\n<a href=\"https://www.linkedin.com/in/mishrrak/\" target=\"_blank\" rel=\"noopener noreferrer\">LinkedIn</a></p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"11258\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][vc_custom_heading text=\"Rohan Angrish\" font_container=\"tag:div|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_custom_heading text=\"Head of Innovation\r\nICICI\" font_container=\"tag:div|font_size:14px|text_align:center|color:%23ffffff|line_height:20px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pwhite\"]\r\n<p style=\"text-align: center;\"><a class=\"popmake-11262\" href=\"#\">Bio</a>\r\n<a href=\"https://www.linkedin.com/in/rohan-angrish-9149a31/?ppe=1\" target=\"_blank\" rel=\"noopener noreferrer\">LinkedIn</a></p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"11259\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][vc_custom_heading text=\"Sanjay Swamy\" font_container=\"tag:div|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_custom_heading text=\"Managing Partner &amp; Co-Founder\r\nPrime Venture\" font_container=\"tag:div|font_size:14px|text_align:center|color:%23ffffff|line_height:20px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pwhite\"]\r\n<p style=\"text-align: center;\"><a class=\"popmake-11265\" href=\"#\">Bio</a>\r\n<a href=\"https://www.linkedin.com/in/theswamy/?ppe=1\" target=\"_blank\" rel=\"noopener noreferrer\">LinkedIn</a></p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"11260\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][vc_custom_heading text=\"Alok Mittal\" font_container=\"tag:div|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_custom_heading text=\"Co-Founder and CEO\r\nIndifi Technologies\" font_container=\"tag:div|font_size:14px|text_align:center|color:%23ffffff|line_height:20px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pwhite\"]\r\n<p style=\"text-align: center;\"><a class=\"popmake-11267\" href=\"#\">Bio</a>\r\n<a href=\"https://www.linkedin.com/in/alok-mittal-590a/?ppe=1\" target=\"_blank\" rel=\"noopener noreferrer\">LinkedIn</a></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row disable_element=\"yes\" type=\"color\" bg_color=\"#f7f7f7\"][vc_column][vc_row_inner][vc_column_inner][rev_slider_vc alias=\"incubator11\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row disable_element=\"yes\" type=\"color\" bg_color=\"#ffffff\" el_class=\"phide\"][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_row_inner][vc_column_inner][vc_custom_heading text=\"THE APPLICATION PROCESS\" font_container=\"tag:h2|font_size:32px|text_align:center|color:%23d11e3c|line_height:38px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1504597731150{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"20px\" letter_spacing=\"\" el_class=\"lh26\" css=\".vc_custom_1505456027002{margin-top: -10px !important;padding-top: 0px !important;}\"]\r\n<p style=\"text-align: center;\"><strong>Applications are due by September 24<sup>th</sup>, 2017</strong></p>\r\n[/vc_column_text][vc_column_text text_color=\"#373a3a\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1504608245065{padding-right: 5% !important;padding-left: 5% !important;}\"]We will use a two-step process to select finalists. First, applicants must submit a Pitch Deck which will be evaluated against the Eligibility Criteria. Organizations whose applications fulfill all the Eligibility Criteria will be invited to submit a full application.\r\n\r\nWe encourage you to apply as early as possible as funds will be allocated on a first-come first-serve basis to organizations with great ideas that meet our eligibility and selection criteria.[/vc_column_text][kleo_gap size=\"30px\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504605718726{margin-bottom: 0px !important;padding-bottom: 0px !important;padding-left: 5% !important;background-color: #d11e3c !important;}\"][vc_column_inner][vc_custom_heading text=\"PITCH DECK SUBMISSION (PHASE I)\" font_container=\"tag:h2|font_size:24px|text_align:left|color:%23ffffff|line_height:30px\" use_theme_fonts=\"yes\" letter_spacing=\"\" css=\".vc_custom_1504617658019{margin-top: 0px !important;margin-right: 0px !important;margin-bottom: 0px !important;margin-left: 0px !important;padding-top: 5px !important;padding-bottom: 5px !important;background-color: #d11e3c !important;}\" el_class=\"bold\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504605732098{margin-top: 0px !important;padding-top: 0px !important;padding-right: 5% !important;padding-left: 5% !important;background-color: #ebebeb !important;}\"][vc_column_inner][vc_custom_heading text=\"Mandatory\" font_container=\"tag:h2|font_size:20px|text_align:left|color:%23d11e3c|line_height:26px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"bold\" css=\".vc_custom_1504617702369{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1504618892332{margin-top: -10px !important;padding-top: 0px !important;}\"]To submit your Pitch Deck, please fill in the <span class=\"pred\"><a href=\"https://cashlesscatalyst.org/incubator-form/\">Phase I webform</a></span> and attach the following mandatory materials:[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div class=\"pdsContainer\">\r\n<div class=\"pdsDetails\">\r\n\r\n<strong>Pitch Deck</strong> in PowerPoint format of no more than 10 slides - Feel free to be creative, but the following information must be included in your Pitch Deck:\r\n<ul>\r\n 	<li><strong>Well-defined problem statement</strong> - Describe the problem you are proposing to resolve.</li>\r\n 	<li><strong>A solution strategy </strong>- Describe how your idea addresses the problem you propose to solve and the minimum viable product (MVP) you are proposing to develop. We define a reasonable MVP as a combination of services, software, hardware, people and/or code that demonstrates all major features of the proposed solution such that it conveys to any potential user the value proposition and workflow of the product.</li>\r\n 	<li><strong>A description of the target population</strong> you intend to work with, including their income levels and geographic locations.</li>\r\n 	<li><strong>A short summary budget</strong> detailing how much the activity will cost and a breakdown of how much of this total budget will be covered by the Catalyst grant and - how much of it will be covered by funds that the organization is willing to contribute from its own resources (what we call “skin in the game”).</li>\r\n</ul>\r\n</div>\r\n<div class=\"pdsDetails\">A copy of your organization’s legal registration that shows it is registered in India and fulfills all the criteria listed in Section 8 (Legal Information) of this APS to be considered an Indian organization.</div>\r\n<div class=\"pdsDetails\">All materials must be submitted in English and budget amounts must be in Indian Rupees.</div>\r\n</div>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504605749196{margin-top: 0px !important;padding-top: 0px !important;padding-right: 5% !important;padding-left: 5% !important;background-color: #ebebeb !important;}\"][vc_column_inner][vc_custom_heading text=\"Optional, but not required Phase I material\" font_container=\"tag:h2|font_size:20px|text_align:left|color:%23d11e3c|line_height:26px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"bold\" css=\".vc_custom_1504617776989{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1504617811147{margin-top: -10px !important;padding-top: 0px !important;}\"](please include links in your pitch deck)[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div class=\"pdsContainer\">\r\n<div class=\"pdsDetails\"><strong>A link to your MVP</strong>. Nothing sells better than seeing the actual product!</div>\r\n<div class=\"pdsDetails\"><strong>A one-minute video</strong> explanation or pitch of your product by the founding team</div>\r\n</div>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504605718726{margin-bottom: 0px !important;padding-bottom: 0px !important;padding-left: 5% !important;background-color: #d11e3c !important;}\"][vc_column_inner][vc_custom_heading text=\"FULL APPLICATION SUBMISSION (PHASE II)\" font_container=\"tag:h2|font_size:24px|text_align:left|color:%23ffffff|line_height:30px\" use_theme_fonts=\"yes\" letter_spacing=\"\" css=\".vc_custom_1504617745778{margin-top: 0px !important;margin-right: 0px !important;margin-bottom: 0px !important;margin-left: 0px !important;padding-top: 5px !important;padding-bottom: 5px !important;background-color: #d11e3c !important;}\" el_class=\"bold\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504607834707{margin-top: 0px !important;padding-top: 0px !important;background-color: #373a3a !important;}\"][vc_column_inner][vc_column_text text_color=\"#ffffff\" font_size=\"15px\" letter_spacing=\"\" el_class=\"lh20 pobhpContainer \" css=\".vc_custom_1504618569508{margin-bottom: 20px !important;padding-right: 5% !important;padding-left: 5% !important;}\"]If you are invited to this phase, we will require you to submit a more detailed set of materials that outline goals and milestones for the program, and how budgetary funds will be used to achieve them. Full templates will be provided by Catalyst to fulfill these submission requirements. When we’ve received all mandatory materials for your application we will review them against our selection criteria and inform you if you’ve been shortlisted for an award within 3 weeks. <a class=\"popmake-phase2 pum-trigger\" style=\"cursor: pointer;\" href=\"#\">Read More</a>\r\n<p style=\"text-align: center;\">To know more about the program, <a href=\"https://cashlesscatalyst.org/wp-content/uploads/2017/08/APS_Docs.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click Here</a></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504619259613{margin-top: 40px !important;}\"][vc_column_inner width=\"1/3\"][/vc_column_inner][vc_column_inner width=\"1/3\"][kleo_button title=\"View FAQs\" href=\"https://cashlesscatalyst.org/faq/\" style=\"custom\" border_width=\"1px\" position=\"center\" size=\"sm\" special=\"no\" icon=\"0\" font_size=\"18px\" font_weight=\"400\" letter_spacing=\"\" el_class=\"puploadBtn\" custom_background=\"#d01f3c\" custom_bg_hover=\"#ffffff\" custom_text=\"#ffffff\" custom_text_hover=\"#d01f3c\" custom_border=\"#d01f3c\" custom_border_hover=\"#d01f3c\"][/vc_column_inner][vc_column_inner width=\"1/3\"][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ebebeb\"][vc_column][vc_custom_heading text=\"PARTNERS\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][kleo_gap size=\"30px\"][vc_row_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10881\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9265\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10882\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9267\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10883\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"8066\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"30px\"][vc_row_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10884\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9171\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10655\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"8070\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10885\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10886\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"30px\"][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" padding_top=\"50px\" padding_bottom=\"50px\" bg_image=\"9937\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1549449129201{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">[footer_copy]</p>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'Incubator', '', 'publish', 'closed', 'closed', '', 'incubator', '', '', '2019-03-22 08:35:11', '2019-03-22 08:35:11', '', 0, 'http://cashlesscatalyst.org/?page_id=14466', 0, 'page', '', 0);
INSERT INTO `in_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(12962, 13, '2018-03-23 14:18:45', '2018-03-23 14:18:45', '[vc_row full_height=\"yes\" equal_height=\"yes\" content_placement=\"middle\" type=\"image\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"0\" padding_bottom=\"0\" bg_image=\"10902\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner width=\"1/3\" offset=\"vc_col-md-5\" css=\".vc_custom_1501494543009{margin-top: 20% !important;padding-right: 12% !important;}\"][vc_custom_heading text=\"CATALYZING FINANCIAL SERVICES IN INDIA\" font_container=\"tag:h2|font_size:36px|text_align:left|color:%23ffffff|line_height:42px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1507879776004{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#ffffff\" font_size=\"24px\" letter_spacing=\"\" css=\".vc_custom_1521811125925{padding-right: 12% !important;}\"]\r\n<p class=\"lh30\" style=\"text-align: left;\">The Catalyst Incubator Program is driven by a mission to build fintech solutions for the last mile &amp; reach out to the under - served market segments.</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1500361612396{padding-right: 0px !important;padding-left: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"190px\" visibility=\"hidden-xs\"][kleo_gap size=\"50px\"][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][vc_single_image image=\"10858\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"left-to-right\"][/vc_column_inner][vc_column_inner width=\"7/12\"][vc_custom_heading text=\"Building for the Last Mile\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23000000|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]While the infrastructure to build inclusive financial services has recently been upgraded with the roll-out of UPI, Aadhaar, and India Stack, we are yet to see the power of those systems delivered to end users at scale. There also remains massive scope to build, on top of the payment transaction layer, deeper workflows that generate tangible value to specific stakeholders in specific commerce use cases – be it analytics, access to financing, or streamlined business processes. Hence, Catalyst is focused on building Solutions for this Last Mile of low income consumers. To realize this mission, we will provide funding for organizations creating financial products and services for these traditionally under-served market segments. The first round of selection of the incubatees took place in February 2018 where five applicants were selected.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_custom_heading text=\"THE FIVE SHORTLISTED START-UPS \" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_empty_space height=\"30px\"][vc_row_inner el_id=\"startup-logo\"][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"2/12\"][vc_column_text letter_spacing=\"\"]\r\n<div class=\"startup-logo\"><a class=\"toggle\" data-target=\"sapna\"><img src=\"http://cashlesscatalyst.org/wp-content/uploads/2018/03/fingpay.jpg\" alt=\"fingpay\" /></a></div>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"2/12\"][vc_column_text letter_spacing=\"\"]\r\n<div class=\"startup-logo\"><a class=\"toggle\" data-target=\"sapna\"><img src=\"http://cashlesscatalyst.org/wp-content/uploads/2018/03/fingpay.jpg\" alt=\"fingpay\" /></a></div>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"2/12\"][vc_column_text letter_spacing=\"\"]\r\n<div class=\"startup-logo\"><a class=\"toggle\" data-target=\"sapna\"><img src=\"http://cashlesscatalyst.org/wp-content/uploads/2018/03/fingpay.jpg\" alt=\"fingpay\" /></a></div>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"2/12\"][vc_column_text letter_spacing=\"\"]\r\n<div class=\"startup-logo\"><a class=\"toggle\" data-target=\"sapna\"><img src=\"http://cashlesscatalyst.org/wp-content/uploads/2018/03/fingpay.jpg\" alt=\"fingpay\" /></a></div>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"2/12\"][vc_column_text letter_spacing=\"\"]\r\n<div class=\"startup-logo\"><a class=\"toggle\" data-target=\"sapna\"><img src=\"http://cashlesscatalyst.org/wp-content/uploads/2018/03/fingpay.jpg\" alt=\"fingpay\" /></a></div>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][vc_column_text letter_spacing=\"\"]\r\n<div id=\"sapna\" class=\"team-profile-container\">\r\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\r\n<h2 class=\"pteam-member-name\"></h2>\r\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sapna\">X</a></div>\r\n</div>\r\n<div class=\"pteam-member-details\">Fingpay is a payment and collection solution that enables merchants to accept digital payments from customers who do not have either a card or wallet or a mobile.</div>\r\n</div>\r\n[/vc_column_text][/vc_column][/vc_row][vc_row type=\"image\" bg_attachment=\"true\" enable_parallax=\"false\" bg_image=\"11192\"][vc_column][vc_custom_heading text=\"THE PROCESS\" font_container=\"tag:h2|font_size:32px|text_align:center|color:%23ffffff|line_height:38px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1521811267105{margin-bottom: 0px !important;padding-bottom: 10px !important;}\"][vc_empty_space height=\"30px\"][vc_row_inner el_class=\"phide-mobile\"][vc_column_inner][vc_single_image image=\"11211\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\" css=\".vc_custom_1504618212057{margin-bottom: 0px !important;}\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" el_class=\"phide-desk\"][vc_column_inner width=\"1/3\"][vc_single_image image=\"11193\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"left-to-right\" css=\".vc_custom_1504617282081{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Up to 33 lakhs<sup>*</sup>\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1504592402026{padding-right: 13% !important;padding-left: 13% !important;}\"]\r\n<p style=\"text-align: center;\">per award for activities lasting up to six months and additional benefits</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"11194\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\" css=\".vc_custom_1504617305542{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Opportunity to refine your product or service\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1504592597893{padding-right: 11% !important;padding-left: 11% !important;}\"]\r\n<p style=\"text-align: center;\">and test hypotheses over six months in a dynamic market environment</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"11195\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css=\".vc_custom_1504617330456{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Mentorship from thought leaders\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1504592651052{padding-right: 9% !important;padding-left: 9% !important;}\"]\r\n<p style=\"text-align: center;\">in digital finance companies, social enterprise, and technology entrepreneurship</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_empty_space height=\"30px\"][vc_row_inner equal_height=\"yes\" el_class=\"phide-desk\"][vc_column_inner width=\"1/3\"][vc_single_image image=\"11196\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"left-to-right\" css=\".vc_custom_1504617352679{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Access to small businesses,\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1504593370401{padding-right: 7% !important;padding-left: 7% !important;}\"]\r\n<p style=\"text-align: center;\">customers and suppliers in Jaipur to test your product or service, run pilots, and validate hypotheses</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"11197\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css=\".vc_custom_1504617375877{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Access to Catalyst’s research team\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1504593351421{padding-right: 6% !important;padding-left: 6% !important;}\"]\r\n<p style=\"text-align: center;\">and on-ground learning infrastructure</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"11017\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css=\".vc_custom_1504594166943{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Access to Catalyst’s broader partner ecosystem,\" font_container=\"tag:p|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"cip-title\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1504593598231{padding-right: 6% !important;padding-left: 6% !important;}\"]\r\n<p style=\"text-align: center;\">including other fintech companies, traditional financial institutions and government &amp; policy stakeholders</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#ffffff\" font_size=\"12px\" letter_spacing=\"\" el_class=\"lh18\"]\r\n<p style=\"text-align: left;\"><sup>*</sup>inclusive of all taxes</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#373a3a\"][vc_column][vc_custom_heading text=\" MEET SOME THOUGHT PARTNERS\" font_container=\"tag:h2|font_size:32px|text_align:center|color:%23ffffff|line_height:38px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1504945146949{margin-bottom: 0px !important;padding-bottom: 10px !important;}\"][vc_row_inner css=\".vc_custom_1504876397167{margin-top: 40px !important;}\"][vc_column_inner width=\"1/4\"][vc_single_image image=\"11256\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][vc_custom_heading text=\"Rakesh Mishra\" font_container=\"tag:div|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_custom_heading text=\"Chief Program Advisor\" font_container=\"tag:div|font_size:14px|text_align:center|color:%23ffffff|line_height:20px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pwhite\"]\r\n<p style=\"text-align: center;\"><a class=\"popmake-11270\" href=\"#\">Bio</a>\r\n<a href=\"https://www.linkedin.com/in/mishrrak/\" target=\"_blank\" rel=\"noopener noreferrer\">LinkedIn</a></p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"11258\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][vc_custom_heading text=\"Rohan Angrish\" font_container=\"tag:div|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_custom_heading text=\"Head of Innovation\r\nICICI\" font_container=\"tag:div|font_size:14px|text_align:center|color:%23ffffff|line_height:20px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pwhite\"]\r\n<p style=\"text-align: center;\"><a class=\"popmake-11262\" href=\"#\">Bio</a>\r\n<a href=\"https://www.linkedin.com/in/rohan-angrish-9149a31/?ppe=1\" target=\"_blank\" rel=\"noopener noreferrer\">LinkedIn</a></p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"11259\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][vc_custom_heading text=\"Sanjay Swamy\" font_container=\"tag:div|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_custom_heading text=\"Managing Partner &amp; Co-Founder\r\nPrime Venture\" font_container=\"tag:div|font_size:14px|text_align:center|color:%23ffffff|line_height:20px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pwhite\"]\r\n<p style=\"text-align: center;\"><a class=\"popmake-11265\" href=\"#\">Bio</a>\r\n<a href=\"https://www.linkedin.com/in/theswamy/?ppe=1\" target=\"_blank\" rel=\"noopener noreferrer\">LinkedIn</a></p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"11260\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][vc_custom_heading text=\"Alok Mittal\" font_container=\"tag:div|font_size:22px|text_align:center|color:%23ffffff|line_height:28px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_custom_heading text=\"Co-Founder and CEO\r\nIndifi Technologies\" font_container=\"tag:div|font_size:14px|text_align:center|color:%23ffffff|line_height:20px\" use_theme_fonts=\"yes\" letter_spacing=\"\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pwhite\"]\r\n<p style=\"text-align: center;\"><a class=\"popmake-11267\" href=\"#\">Bio</a>\r\n<a href=\"https://www.linkedin.com/in/alok-mittal-590a/?ppe=1\" target=\"_blank\" rel=\"noopener noreferrer\">LinkedIn</a></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row disable_element=\"yes\" type=\"color\" bg_color=\"#f7f7f7\"][vc_column][vc_row_inner][vc_column_inner][rev_slider_vc alias=\"incubator11\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row disable_element=\"yes\" type=\"color\" bg_color=\"#ffffff\" el_class=\"phide\"][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_row_inner][vc_column_inner][vc_custom_heading text=\"THE APPLICATION PROCESS\" font_container=\"tag:h2|font_size:32px|text_align:center|color:%23d11e3c|line_height:38px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1504597731150{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"20px\" letter_spacing=\"\" el_class=\"lh26\" css=\".vc_custom_1505456027002{margin-top: -10px !important;padding-top: 0px !important;}\"]\r\n<p style=\"text-align: center;\"><strong>Applications are due by September 24<sup>th</sup>, 2017</strong></p>\r\n[/vc_column_text][vc_column_text text_color=\"#373a3a\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1504608245065{padding-right: 5% !important;padding-left: 5% !important;}\"]We will use a two-step process to select finalists. First, applicants must submit a Pitch Deck which will be evaluated against the Eligibility Criteria. Organizations whose applications fulfill all the Eligibility Criteria will be invited to submit a full application.\r\n\r\nWe encourage you to apply as early as possible as funds will be allocated on a first-come first-serve basis to organizations with great ideas that meet our eligibility and selection criteria.[/vc_column_text][kleo_gap size=\"30px\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504605718726{margin-bottom: 0px !important;padding-bottom: 0px !important;padding-left: 5% !important;background-color: #d11e3c !important;}\"][vc_column_inner][vc_custom_heading text=\"PITCH DECK SUBMISSION (PHASE I)\" font_container=\"tag:h2|font_size:24px|text_align:left|color:%23ffffff|line_height:30px\" use_theme_fonts=\"yes\" letter_spacing=\"\" css=\".vc_custom_1504617658019{margin-top: 0px !important;margin-right: 0px !important;margin-bottom: 0px !important;margin-left: 0px !important;padding-top: 5px !important;padding-bottom: 5px !important;background-color: #d11e3c !important;}\" el_class=\"bold\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504605732098{margin-top: 0px !important;padding-top: 0px !important;padding-right: 5% !important;padding-left: 5% !important;background-color: #ebebeb !important;}\"][vc_column_inner][vc_custom_heading text=\"Mandatory\" font_container=\"tag:h2|font_size:20px|text_align:left|color:%23d11e3c|line_height:26px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"bold\" css=\".vc_custom_1504617702369{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1504618892332{margin-top: -10px !important;padding-top: 0px !important;}\"]To submit your Pitch Deck, please fill in the <span class=\"pred\"><a href=\"http://cashlesscatalyst.org/incubator-form/\">Phase I webform</a></span> and attach the following mandatory materials:[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div class=\"pdsContainer\">\r\n<div class=\"pdsDetails\">\r\n\r\n<strong>Pitch Deck</strong> in PowerPoint format of no more than 10 slides - Feel free to be creative, but the following information must be included in your Pitch Deck:\r\n<ul>\r\n 	<li><strong>Well-defined problem statement</strong> - Describe the problem you are proposing to resolve.</li>\r\n 	<li><strong>A solution strategy </strong>- Describe how your idea addresses the problem you propose to solve and the minimum viable product (MVP) you are proposing to develop. We define a reasonable MVP as a combination of services, software, hardware, people and/or code that demonstrates all major features of the proposed solution such that it conveys to any potential user the value proposition and workflow of the product.</li>\r\n 	<li><strong>A description of the target population</strong> you intend to work with, including their income levels and geographic locations.</li>\r\n 	<li><strong>A short summary budget</strong> detailing how much the activity will cost and a breakdown of how much of this total budget will be covered by the Catalyst grant and - how much of it will be covered by funds that the organization is willing to contribute from its own resources (what we call “skin in the game”).</li>\r\n</ul>\r\n</div>\r\n<div class=\"pdsDetails\">A copy of your organization’s legal registration that shows it is registered in India and fulfills all the criteria listed in Section 8 (Legal Information) of this APS to be considered an Indian organization.</div>\r\n<div class=\"pdsDetails\">All materials must be submitted in English and budget amounts must be in Indian Rupees.</div>\r\n</div>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504605749196{margin-top: 0px !important;padding-top: 0px !important;padding-right: 5% !important;padding-left: 5% !important;background-color: #ebebeb !important;}\"][vc_column_inner][vc_custom_heading text=\"Optional, but not required Phase I material\" font_container=\"tag:h2|font_size:20px|text_align:left|color:%23d11e3c|line_height:26px\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"bold\" css=\".vc_custom_1504617776989{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1504617811147{margin-top: -10px !important;padding-top: 0px !important;}\"](please include links in your pitch deck)[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div class=\"pdsContainer\">\r\n<div class=\"pdsDetails\"><strong>A link to your MVP</strong>. Nothing sells better than seeing the actual product!</div>\r\n<div class=\"pdsDetails\"><strong>A one-minute video</strong> explanation or pitch of your product by the founding team</div>\r\n</div>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504605718726{margin-bottom: 0px !important;padding-bottom: 0px !important;padding-left: 5% !important;background-color: #d11e3c !important;}\"][vc_column_inner][vc_custom_heading text=\"FULL APPLICATION SUBMISSION (PHASE II)\" font_container=\"tag:h2|font_size:24px|text_align:left|color:%23ffffff|line_height:30px\" use_theme_fonts=\"yes\" letter_spacing=\"\" css=\".vc_custom_1504617745778{margin-top: 0px !important;margin-right: 0px !important;margin-bottom: 0px !important;margin-left: 0px !important;padding-top: 5px !important;padding-bottom: 5px !important;background-color: #d11e3c !important;}\" el_class=\"bold\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504607834707{margin-top: 0px !important;padding-top: 0px !important;background-color: #373a3a !important;}\"][vc_column_inner][vc_column_text text_color=\"#ffffff\" font_size=\"15px\" letter_spacing=\"\" el_class=\"lh20 pobhpContainer \" css=\".vc_custom_1504618569508{margin-bottom: 20px !important;padding-right: 5% !important;padding-left: 5% !important;}\"]If you are invited to this phase, we will require you to submit a more detailed set of materials that outline goals and milestones for the program, and how budgetary funds will be used to achieve them. Full templates will be provided by Catalyst to fulfill these submission requirements. When we’ve received all mandatory materials for your application we will review them against our selection criteria and inform you if you’ve been shortlisted for an award within 3 weeks. <a class=\"popmake-phase2 pum-trigger\" style=\"cursor: pointer;\" href=\"#\">Read More</a>\r\n<p style=\"text-align: center;\">To know more about the program, <a href=\"http://cashlesscatalyst.org/wp-content/uploads/2017/08/APS_Docs.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Click Here</a></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1504619259613{margin-top: 40px !important;}\"][vc_column_inner width=\"1/3\"][/vc_column_inner][vc_column_inner width=\"1/3\"][kleo_button title=\"View FAQs\" href=\"http://cashlesscatalyst.org/faq/\" style=\"custom\" border_width=\"1px\" position=\"center\" size=\"sm\" special=\"no\" icon=\"0\" font_size=\"18px\" font_weight=\"400\" letter_spacing=\"\" el_class=\"puploadBtn\" custom_background=\"#d01f3c\" custom_bg_hover=\"#ffffff\" custom_text=\"#ffffff\" custom_text_hover=\"#d01f3c\" custom_border=\"#d01f3c\" custom_border_hover=\"#d01f3c\"][/vc_column_inner][vc_column_inner width=\"1/3\"][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ebebeb\"][vc_column][vc_custom_heading text=\"PARTNERS\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][kleo_gap size=\"30px\"][vc_row_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10881\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9265\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10882\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9267\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10883\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"8066\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"30px\"][vc_row_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10884\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9171\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10655\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"8070\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10885\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"10886\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"30px\"][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" padding_top=\"50px\" padding_bottom=\"50px\" bg_image=\"9937\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1484826151396{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative seeded by an alliance between the Government of India &amp; USAID, to expand digital payments and financial inclusion in India, especially for small merchants and low-income consumers.</p>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'page-test', '', 'pending', 'closed', 'closed', '', 'page-test', '', '', '2018-06-29 11:01:04', '2018-06-29 11:01:04', '', 0, 'http://cashlesscatalyst.org/?page_id=12962', 0, 'page', '', 0),
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INSERT INTO `in_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(13493, 15, '2018-05-09 14:35:20', '2018-05-09 14:35:20', '[vc_row full_height=\"yes\" equal_height=\"yes\" content_placement=\"middle\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"110\" padding_bottom=\"0\" bg_image=\"13531\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner][vc_custom_heading text=\"REMOTE PAYMENTS ERA: THE NEW ï¿½BOOMï¿½ TRANSFORMING THE DIGITAL PAYMENT LANDSCAPE\" font_container=\"tag:h2|font_size:48px|text_align:center|color:%23ffffff|line_height:54px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#ffffff\" font_size=\"18px\" letter_spacing=\"\"]\r\n<p class=\"lh30\" style=\"text-align: center;\">By Gaurav Singhal, Business Analyst at Catalyst, New Delhi, India</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][kleo_gap size=\"130px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"50\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\" css=\".vc_custom_1504265033147{padding-right: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265063058{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265782417{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/05/remote-payments-era-1.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]As real time bank-to-bank transfers, mobile wallets and other means of digital payments are creating a buzz across the country, mushrooming start-ups and their plans are starting to rely on digital payments to reach the holy grail of scale. Experts and influencers talk about engaging customers remotely and transacting digitally bypassing the need for face-to-face interactions. Innovators assume they will be able to plug into existing digital payment platforms (UPI, Payment wallets or banks) and leverage these networks to build multi-faceted and scalable solutions.\r\n\r\nHowever, the Achilles heel seems to be the outreach element in creating awareness and familiarising consumers about the technology and its offerings. In most cases, consumer demand is a critical driver that influences payment behaviour at points of sale (POS) and research has indicated that digitising small-ticket transactions and/or frequent payment touch-points contribute largely towards the digital payment behavioural shift.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]At Catalyst Jaipurï¿½s digital payments lab, businesses are leveraging mature digital finance products to grow quickly. However, in the emerging digital financial services markets; start-ups offer a boutique of solutions from smart mobile based CRM<sup> [1]</sup> for small merchants to goal-based wealth management solutions for the poor. These create enormous opportunities for consumer literacy. Read on to understand out how <em>MeraPaper</em>, a newspaper vendor-centric solution provider used a smart solution and synergised it with a digital payment solution. It is an <div style=\"display:none\"><a href=\"https://ephesuskebab.co.uk/ephes/\" title=\"Cialis Effects\">Cialis Effects</a></div> interesting illustration of how using digital payments can pay off.\r\n\r\n<strong><em>MeraPaper</em></strong> automates invoicing for small vendors and pushes out invoices to consumers using the media of SMS or WhatsApp. The budding fintech is convinced that integrating digital payments supplemented with an automated end-to-end reconciliation tool on their solution platform will result in a seamless transformation of the overall operational efficiency and business processes for a small vendor such as a newspaper vendor.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Founded by a team of fintech enthusiasts with one of the founderï¿½s being from a newspaper vending family; <em>MeraPaper </em>was developed to solve the routine problems around the laborious manual processes in distribution, invoicing and payment collection. Whilst doorstep newspaper distribution is a streamlined process with a low error rate, the billing for it is largely a paper-driven process, one that is onerous and labour intensive and that can take-up to 10-12 hours every month. Again, the monthly collection of payments is equally cumbersome and requires at least 3-4 repeat visits to each household. In reality, it takes 20-22 days for a newspaper vendor to recover the revenue for a given month. This also includes manual reconciliation and cash accounting for book-keeping.\r\n\r\nAt the outset, newspaper vendors were open to payment digitisation when they realised its convenience and were, hence open to a trial to gauge its usefulness.ï¿½ They anticipated a reduction in operational cost by at least 5%, incurred due to travel and wages to staff engaged in invoice distribution and payment collection.\r\n\r\nHowever, making the final shift from cash to digital payments was a challenge, considering low-ticket size and conventional consumer behaviour. Users, particularly those who downloaded and started making digital payments during demonetisation, were excited to use digital payments, but only in theory. However, with cash surplus coming back into the eco-system, paper money continued to rule. Although like most urban cities in India, while almost 80%* of the population in Jaipur have mobile phones, fewer than 10% are active on digital payments platforms, and many have never used their wallets to transact on peer-to-peer payments.[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"vid-margintop\" width=\"1/2\"][vc_video link=\"https://www.youtube.com/watch?v=sm6TVKpRDs8\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Like any new technology, there are some quick adopters to trial, while there are others who need some time to be coached and handheld to attract interest and feel engaged. Reaching the masses through the vendor-medium was one of the challenging aspects for <em>MeraPaper</em>. Digital payment interfaces are daunting and notoriously unfriendly to users, particularly for the less tech-savvy segment who have language barriers. For example, making a payment through UPI<sup> [2]</sup> (real time bank-to-bank transfer) involves a few steps and requires a set of critical information in-hand (such as bank-linked mobile number, debit card, PIN, etc.) to get on-boarded and make or receive the first payment.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\" content_placement=\"top\"][vc_column_inner el_class=\"vid-margintop\" width=\"1/2\"][vc_video link=\"https://www.youtube.com/watch?v=N1aBAxuY2T0\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]PSPs<sup> [3]</sup> and upcoming start-ups were meant to piggyback on the important work already done by banking agents and mobile money operators. However, educating consumers till the last mile is what will eventually make the difference and gain brownie points in building consumer-friendly business solutions.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Most consumers do not understand how to pay with their phones, simply because they have never needed to do so before. For companies that want to collect digital payments; it may come as a complete surprise to build this capacity at the outset in order to reel a successful and scalable solution.\r\n\r\nThe silver lining is that there are already some omnipresent solutions available, such as Paytm, which lets its users initiate transactions over the phone. But in the long-run, this problem illustrates the need for better partnerships and communication between solution providers and local merchants to enable them to become community leaders to derive the change. And to overcome its issues of awareness and reach,ï¿½<em>MeraPaper</em>ï¿½did just that.\r\n\r\nBehavioural science reflects that the trust instilled by an individual outweighs automated/e-learning tools. Hence, engaging a coach or a change agent to develop the trust in consumers is a critical influencer.ï¿½ The concern for companies like <em>MeraPaper</em> is that this level of training will be the death of scale. How can you hit growth targets when you have to contact a customer repeatedly to reinforce payment lessons?[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"2/3\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]<em>MeraPaper</em> approached Catalyst to help them design a proof-of-concept for mobile payments with Shravan Kumar, one of their newspaper vendors serving 400+ households across 11 localities in Jaipur. During demonetisation, Shravan Kumar had faced serious cash flow problems and since then, started accepting digital payments. However, the lack of knowledge on the various payment options made it difficult for him to sustain digital payment acceptance from his consumers. He recognized the time and effort opportunity that he saved in both digital payments and the value-add services like invoicing and reconciliation. During the first conversation with Shravan, he was delighted to experience the ï¿½pull paymentï¿½ or ï¿½collect &amp; payï¿½ feature that wallets and UPI offer. He realized the minimalistic effort involved in triggering the payment request at the convenience of his home/office.ï¿½ Thus, he was ready to embark on the pilot knowing that the additional effort involved would eventually reap benefits. This was the inception of the pilot with Shravan, a busy newspaper vendor and a simplistic solution, such as <em>MeraPaper</em>.\r\n\r\nOne of the critical execution strategies that was emphasized by Shravan was the need to hand-hold consumers during the on-boarding/registration/activation process on the UPI platform to ensure successful completion of transactions. To garner interest and participation, <em>MeraPaper</em> also announced a promotion campaign to Shravanï¿½s consumers by rolling out a prize scheme of Rs. 30 to users who made periodic/repeat digital payments.[/vc_column_text][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Initially, during the first couple of weeks when the consumers were introduced to UPI, feedback showed their scepticism in using the digital payment platform due to prevailing security concerns. However, after the know-how from a trusted source helped in building trust, many of them gradually realised the convenience of paying through UPI over cash, especially in the context of monthly newspaper subscription payments driven by consumer availability.\r\n\r\nThe UPI ï¿½collectï¿½ feature along with the SMS/ WhatsApp message with the invoice shared by <em>MeraPaper</em> allowed Shravan Kumar to collect payments remotely from his customers, eliminating the need for multiple visits to these households.\r\n\r\nAlthough the first month was laborious since Shravan had to support the pilot by co-engaging with every consumer/household personally to guide, assist and hand-hold them through the entire digital payment on-boarding and payment process; the subsequent months proved to be easier since consumers were already on the UPI platform and Virtual Payment Address (VPA IDs) facilitated and familiarised a person-to-person payment transaction. ï¿½This helped Shravan Kumar to trigger a collect-request to these customers to authorise their monthly payment amounts. He now no longer needs to physically visit these customers to collect monthly payments. This has helped him to not only save a lot of time, but also streamlined his bookkeeping.\r\n\r\nï¿½I started using<em>ï¿½MeraPaper</em>ï¿½in August 2017. Earlier I used to spendï¿½<strong>10-12 hours maintainingï¿½</strong>balance books, and getting bill books used to cost meï¿½<strong>500 rupees.ï¿½ï¿½</strong><em>MeraPaper</em>ï¿½has saved me roughly 16-17 hrs of monthly collection time and 10-12 hrs of billing time every month.ï¿½[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"13533\" img_size=\"full\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]The invoicing message and payment mechanism has been very convenient for consumers. In addition, the digital track record provides an easy means of accessing payment history. Given the low ticket size, consumers faced the challenge of keeping track of bill payments made in cash. The UPI platform records and provides transaction history of payments made / received which is very useful for consumers to back-track payment requests.\r\n\r\nThe results of the pilot were encouraging and within the 3-month timeframe, a total of 300+ households were engaged. Of these households, 30% adopted a digital payments platform. For Shravan Kumar, his revenue from digital payments have increased tenfold in the months following the activation program from 2% to 20%, and has been steady thereafter.ï¿½ Approximately 60% of his digitally-enabled consumer households are now making their payments to him digitally on a monthly basis consistently.\r\n\r\nAlthough a majority of Shravan Kumarï¿½s consumers are still paying their newspaper bills in cash, he still sees significant value in terms of the time saved for collections with the digitally enabled segment. He believes that over time he will be able to transition them to digital payment platforms.\r\n\r\nThis is just the beginning of a partnership that could yield dividends for both parties. The synergy between the <em>MeraPaper</em> solution and his client (newspaper vendor) exemplifies how adapting to digital payments solutions can not only improve operational efficiencies for a business, but also build an effective network through training community leaders to scale effective business models.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_single_image image=\"13523\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_column_text letter_spacing=\"\"][1] CRM- <u>Customer relationship management</u>\r\n\r\n[2] UPI - Unified Payments Interface\r\n\r\n[3] PSP - Payment Service Provider\r\n\r\n<em>*Source: ICE Survey 2017</em>\r\n\r\n[/vc_column_text][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10px\" padding_bottom=\"10px\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265268713{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265795099{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/05/remote-payments-era-1.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"5\" padding_bottom=\"5\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"][starbox id=15][/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" disable_element=\"yes\" front_status=\"draft\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" column_gap=\"no\" padding_top=\"70px\" padding_bottom=\"50px\" margin_top=\"0px\" bg_image=\"9937\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1484826151396{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative seeded by an alliance between the Government of India &amp; USAID, to expand digital payments and </p><div style=\"display:none\"><a href=\"https://gerechtsdeurwaarders.zuydgroep.nl/waarder/\" title=\"Buy Generic Cialis in UK\">Buy Generic Cialis in UK</a></div> financial inclusion in India, especially for small merchants and low-income consumers.<p></p>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'Remote Payments Era: the new ‘boom’ transforming the digital payment landscape', '', 'publish', 'open', 'open', '', 'remote-payments-era-new-boom-transforming-digital-payment-landscape', '', '', '2018-11-15 10:15:47', '2018-11-15 10:15:47', '', 0, 'http://cashlesscatalyst.org/?p=13493', 16, 'post', '', 0),
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INSERT INTO `in_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(13198, 13, '2018-04-06 11:32:55', '2018-04-06 11:32:55', '[vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"110\" padding_bottom=\"0\" bg_image=\"13248\"][vc_column][kleo_gap size=\"300px\"][vc_row_inner][vc_column_inner][/vc_column_inner][/vc_row_inner][kleo_gap size=\"130px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1488531456733{padding-right: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1488531444909{padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/04/Catalyst-Donor-Brochure.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]These categories include various solutions that include several unique features tailored to meet the demands of the Indian consumers and the  merchants. Here is a detailed comparison of each cashless payment solution available in India.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row inner_container=\"no\" type=\"color\" bg_color=\"#d1203d\"][vc_column][vc_row_inner inner_container=\"yes\"][vc_column_inner][vc_custom_heading text=\"CATALYST IS AN INITIATIVE FUNDED BY UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT (USAID) UNDER THE mSTAR PROGRAM TO PROMOTE CASHLESS PAYMENT SOLUTIONS AS A MEANS FOR DEEPER FINANCIAL INCLUSION IN INDIA. THESE SOLUTIONS CAN BE BROADLY CLASSIFIED INTO:\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"2/12\"][/vc_column_inner][vc_column_inner width=\"2/12\"][vc_single_image image=\"13205\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523009145008{margin-top: 40px !important;margin-bottom: 20px !important;}\"][vc_custom_heading text=\"Mobile-based solutions\" font_container=\"tag:div|font_size:18px|text_align:center|color:%23ffffff|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][/vc_column_inner][vc_column_inner width=\"2/12\"][vc_single_image image=\"13203\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523009344198{margin-top: 40px !important;margin-bottom: 20px !important;}\"][vc_custom_heading text=\"Exclusive card-acceptance solutions\" font_container=\"tag:div|font_size:18px|text_align:center|color:%23ffffff|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\" css=\".vc_custom_1523009394798{padding-right: 10% !important;padding-left: 10% !important;}\"][/vc_column_inner][vc_column_inner width=\"2/12\"][vc_single_image image=\"13204\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523009180690{margin-top: 40px !important;margin-bottom: 20px !important;}\"][vc_custom_heading text=\"Biometric solutions\" font_container=\"tag:div|font_size:18px|text_align:center|color:%23ffffff|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\" css=\".vc_custom_1523009415010{padding-right: 11% !important;padding-left: 11% !important;}\"][/vc_column_inner][vc_column_inner width=\"2/12\"][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#e3e2e2\" padding_top=\"70\" padding_bottom=\"70\"][vc_column][vc_row_inner css=\".vc_custom_1523010478885{margin-right: 5px !important;margin-left: 5px !important;padding-bottom: 30px !important;background-color: #ffffff !important;}\" el_id=\"title-block\"][vc_column_inner][vc_single_image image=\"13212\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523010287591{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"MOBILE-BASED SOLUTIONS\" font_container=\"tag:p|font_size:21px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner gap=\"35\" inner_container=\"yes\"][vc_column_inner width=\"1/2\" css=\".vc_custom_1518689891874{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13223\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523014362081{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"UPI\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"Unified Payments Interface (UPI) is a system developed by the National Payments Corporation of India. Built using the IMPS infrastructure, UPI uses a mobile-based payment interface to facilitate instant transfer of money. It facilitates easy transactions with Virtual Payment Address (VPA/UPI ID) and QR code.\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_tta_accordion style=\"outline\" color=\"white\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523354604483-3dabf32e-2b8f\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Smartphone device</li>\r\n 	<li>Debit card</li>\r\n 	<li>Mobile number linked to Bank account</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> BHIM-UPI, PhonePe[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> INR 1 Lakh per day[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li>0 for peer-to-peer transactions</li>\r\n 	<li>Capped at 0.3 to 0.8% for merchants depending on\r\nturnover</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13242\" img_size=\"large\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278531962{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Download the app from Google Play Store</li>\r\n 	<li>Select your bank</li>\r\n 	<li>Verify the number linked to your bank account to\r\nregister</li>\r\n 	<li>Create VPA ID and UPI pin</li>\r\n 	<li>Share VPA ID or print QR code to start transacting</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability</strong>\r\nEasy transactions between retailers and distributors, across verticals, due to remote payment support.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1518690430563{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13245\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523018648246{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"*99#\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"Launched in November, 2012, *99# is an Unstructured Supplementary Service Data (USSD)-based mobile banking service. As access to mobile technology is now a clear reality, the Government of India has created this initiative to make mobile banking services easily available to all Indians.\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_empty_space height=\"15px\"][vc_tta_accordion style=\"outline\" color=\"white\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523360323103-54a3858b-b8bb\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Mobile phone</li>\r\n 	<li>Debit card</li>\r\n 	<li>Mobile number linked to bank account</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> All telecom carriers[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> INR 5,000 per transaction[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li>INR 0.5 for peer-to-peer transactions</li>\r\n 	<li>Cost of SMS for initiating the transaction</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13246\" img_size=\"large\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278541896{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Dial *99# from your phone</li>\r\n 	<li>Choose your language</li>\r\n 	<li>Select your bank</li>\r\n 	<li>Register your bank account</li>\r\n 	<li>Enter card details to generate UPI pin and VPA ID</li>\r\n 	<li>Share VPA ID to initiate transactions</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability</strong>\r\nRetailer to distributor payments in the FMCG sectors in rural and semi-urban regions[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][/vc_row_inner][vc_row_inner gap=\"35\" inner_container=\"yes\"][vc_column_inner width=\"1/2\" css=\".vc_custom_1518689891874{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13324\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278019041{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"mPOS\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"An mPOS is a smartphone tablet, or a dedicated wireless device that records sales and conducts cashless transactions.\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_empty_space height=\"22px\"][vc_tta_accordion style=\"outline\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523360763909-8f003621-0fc4\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Smartphone device</li>\r\n 	<li> Internet connectivity</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> Epaisa, mSwipe, Ezetap, FTCash, PayBee[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> At the discretion of the provider[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li> Infrastructure cost of INR 4,000 to INR 8,000</li>\r\n 	<li>Monthly fee of INR 200 to INR 1,000</li>\r\n 	<li>Merchant Discount Rate (MDR) as applicable</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13339\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523280679239{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Device activated upon KYC checks</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability</strong>\r\n<ul>\r\n 	<li>Mid-to-large businesses</li>\r\n</ul>\r\n[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1518690430563{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13325\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278047963{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"Wallets\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"A wallet is a virtual holder for all your cards and bank accounts. This system allows consumers to transact quickly without entering their card/bank account details every time they shop.\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_tta_accordion style=\"outline\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523361224329-327b99b5-bf84\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Smartphone</li>\r\n 	<li>Internet connectivity</li>\r\n 	<li>Activated wallet account linked to credit/debit card</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> PayTM, Mobikwik[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong>\r\n<ul>\r\n 	<li>Less than INR 20,000 per transaction without KYC</li>\r\n 	<li>Up to INR 1,00,000 per transaction with KYC</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li> INR 0 for peer-to-peer transactions</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13341\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523281094382{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Download the wallet app</li>\r\n 	<li>Register on the app with personal credentials</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability</strong>\r\n<ul>\r\n 	<li>Small businesses</li>\r\n 	<li>eCommerce portals</li>\r\n 	<li>Home entrepreneurs</li>\r\n</ul>\r\n[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1523010478885{margin-right: 5px !important;margin-left: 5px !important;padding-bottom: 30px !important;background-color: #ffffff !important;}\"][vc_column_inner][vc_empty_space height=\"40px\"][vc_single_image image=\"13326\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278093969{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"BIOMETRIC SOLUTIONS\" font_container=\"tag:p|font_size:21px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" gap=\"35\" inner_container=\"yes\"][vc_column_inner width=\"1/4\"][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1518689891874{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13327\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278125321{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"mPOS\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"An mPOS is a smartphone tablet, or a dedicated wireless device that records sales and conducts cashless transactions.\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_tta_accordion style=\"outline\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523363510685-6850f3f0-f323\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Smartphone device</li>\r\n 	<li> Internet connectivity</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> Epaisa, mSwipe, Ezetap, FTCash, PayBee[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> At the discretion of the provider[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li> Infrastructure cost of INR 4,000 to INR 8,000</li>\r\n 	<li>Monthly fee of INR 200 to INR 1,000</li>\r\n 	<li>Merchant Discount Rate (MDR) as applicable</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13343\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523281337963{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Device activated upon KYC checks</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability :</strong> Mid-to-large businesses[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][vc_column_inner width=\"1/4\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1523010478885{margin-right: 5px !important;margin-left: 5px !important;padding-bottom: 30px !important;background-color: #ffffff !important;}\"][vc_column_inner][vc_empty_space height=\"40px\"][vc_single_image image=\"13328\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278147029{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"EXCLUSIVE CARD-ACCEPTANCE SOLUTIONS\" font_container=\"tag:p|font_size:21px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner gap=\"35\" inner_container=\"yes\"][vc_column_inner width=\"1/2\" css=\".vc_custom_1518689891874{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13329\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278182731{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"BharatQR\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"Developed by the NPCI, BharatQR is an integrated payment solution that enables quick and secure transactions via QR code technology\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_tta_accordion style=\"outline\" color=\"white\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523363928330-5580fea0-76b4\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Bank registered QR code for merchant</li>\r\n 	<li>Smartphone for customer</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> All banking apps[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> At the discretion of the provider[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li>Monthly fees of INR 100 to INR 300</li>\r\n 	<li>Merchant Discount Rate (MDR) applicable</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13351\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523283067033{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Contact your bank</li>\r\n 	<li>Register and activate QR code (subject to KYC)</li>\r\n 	<li>Share QR code to transact via scan &amp; pay</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability :</strong> Small businesses[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1518690430563{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13331\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278235374{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"POS\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"A device that records sales, and conducts cashless transactions at a merchant location\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_tta_accordion style=\"outline\" color=\"white\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523363861424-c9f6522c-cdf5\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Fixed telephone line</li>\r\n 	<li>Data connection</li>\r\n 	<li>Current account</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> All banks[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> At the discretion of the provider\r\n[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li> Annual cost of INR 6,000 to INR 10,000</li>\r\n 	<li>Merchant Discount Rate (MDR) applicable</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13346\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523281740306{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Contact your home bank branch</li>\r\n 	<li>Enrol your business for POS</li>\r\n 	<li>Submit KYC documents</li>\r\n 	<li>Bank delivers and activates POS machine</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability :</strong> Medium-to-large businesses[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\r\n<h3 style=\"text-align: center;\">Together, let’s bridge the financial divide with digital payments!</h3>\r\n<p style=\"text-align: center;\">Technical Writers : Sapna Bharath and Gaurav Singhal</p>\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/04/Catalyst-Donor-Brochure.pdf\" target=\"_blank\" position=\"center\" size=\"lg\" type=\"boxed-icon\" special=\"no\" icon=\"download\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pkirbtn\" icon_custom_background=\"#d11e3c\" icon_custom_text=\"#ffffff\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" padding_top=\"50px\" padding_bottom=\"50px\" bg_image=\"7886\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1549449199713{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">[footer_copy]</p>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'A Small Business Go-To Guide for Going Cashless', '', 'publish', 'closed', 'closed', '', 'a-small-business-go-to-guide-for-going-cashless', '', '', '2019-02-06 10:33:23', '2019-02-06 10:33:23', '', 0, 'http://cashlesscatalyst.org/?page_id=13198', 0, 'page', '', 0);
INSERT INTO `in_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(40407, 23, '2019-02-06 10:33:23', '2019-02-06 10:33:23', '[vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"110\" padding_bottom=\"0\" bg_image=\"13248\"][vc_column][kleo_gap size=\"300px\"][vc_row_inner][vc_column_inner][/vc_column_inner][/vc_row_inner][kleo_gap size=\"130px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1488531456733{padding-right: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1488531444909{padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/04/Catalyst-Donor-Brochure.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]These categories include various solutions that include several unique features tailored to meet the demands of the Indian consumers and the  merchants. Here is a detailed comparison of each cashless payment solution available in India.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row inner_container=\"no\" type=\"color\" bg_color=\"#d1203d\"][vc_column][vc_row_inner inner_container=\"yes\"][vc_column_inner][vc_custom_heading text=\"CATALYST IS AN INITIATIVE FUNDED BY UNITED STATES AGENCY FOR INTERNATIONAL DEVELOPMENT (USAID) UNDER THE mSTAR PROGRAM TO PROMOTE CASHLESS PAYMENT SOLUTIONS AS A MEANS FOR DEEPER FINANCIAL INCLUSION IN INDIA. THESE SOLUTIONS CAN BE BROADLY CLASSIFIED INTO:\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"2/12\"][/vc_column_inner][vc_column_inner width=\"2/12\"][vc_single_image image=\"13205\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523009145008{margin-top: 40px !important;margin-bottom: 20px !important;}\"][vc_custom_heading text=\"Mobile-based solutions\" font_container=\"tag:div|font_size:18px|text_align:center|color:%23ffffff|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][/vc_column_inner][vc_column_inner width=\"2/12\"][vc_single_image image=\"13203\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523009344198{margin-top: 40px !important;margin-bottom: 20px !important;}\"][vc_custom_heading text=\"Exclusive card-acceptance solutions\" font_container=\"tag:div|font_size:18px|text_align:center|color:%23ffffff|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\" css=\".vc_custom_1523009394798{padding-right: 10% !important;padding-left: 10% !important;}\"][/vc_column_inner][vc_column_inner width=\"2/12\"][vc_single_image image=\"13204\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523009180690{margin-top: 40px !important;margin-bottom: 20px !important;}\"][vc_custom_heading text=\"Biometric solutions\" font_container=\"tag:div|font_size:18px|text_align:center|color:%23ffffff|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\" css=\".vc_custom_1523009415010{padding-right: 11% !important;padding-left: 11% !important;}\"][/vc_column_inner][vc_column_inner width=\"2/12\"][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#e3e2e2\" padding_top=\"70\" padding_bottom=\"70\"][vc_column][vc_row_inner css=\".vc_custom_1523010478885{margin-right: 5px !important;margin-left: 5px !important;padding-bottom: 30px !important;background-color: #ffffff !important;}\" el_id=\"title-block\"][vc_column_inner][vc_single_image image=\"13212\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523010287591{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"MOBILE-BASED SOLUTIONS\" font_container=\"tag:p|font_size:21px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner gap=\"35\" inner_container=\"yes\"][vc_column_inner width=\"1/2\" css=\".vc_custom_1518689891874{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13223\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523014362081{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"UPI\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"Unified Payments Interface (UPI) is a system developed by the National Payments Corporation of India. Built using the IMPS infrastructure, UPI uses a mobile-based payment interface to facilitate instant transfer of money. It facilitates easy transactions with Virtual Payment Address (VPA/UPI ID) and QR code.\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_tta_accordion style=\"outline\" color=\"white\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523354604483-3dabf32e-2b8f\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Smartphone device</li>\r\n 	<li>Debit card</li>\r\n 	<li>Mobile number linked to Bank account</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> BHIM-UPI, PhonePe[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> INR 1 Lakh per day[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li>0 for peer-to-peer transactions</li>\r\n 	<li>Capped at 0.3 to 0.8% for merchants depending on\r\nturnover</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13242\" img_size=\"large\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278531962{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Download the app from Google Play Store</li>\r\n 	<li>Select your bank</li>\r\n 	<li>Verify the number linked to your bank account to\r\nregister</li>\r\n 	<li>Create VPA ID and UPI pin</li>\r\n 	<li>Share VPA ID or print QR code to start transacting</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability</strong>\r\nEasy transactions between retailers and distributors, across verticals, due to remote payment support.[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1518690430563{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13245\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523018648246{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"*99#\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"Launched in November, 2012, *99# is an Unstructured Supplementary Service Data (USSD)-based mobile banking service. As access to mobile technology is now a clear reality, the Government of India has created this initiative to make mobile banking services easily available to all Indians.\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_empty_space height=\"15px\"][vc_tta_accordion style=\"outline\" color=\"white\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523360323103-54a3858b-b8bb\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Mobile phone</li>\r\n 	<li>Debit card</li>\r\n 	<li>Mobile number linked to bank account</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> All telecom carriers[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> INR 5,000 per transaction[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li>INR 0.5 for peer-to-peer transactions</li>\r\n 	<li>Cost of SMS for initiating the transaction</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13246\" img_size=\"large\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278541896{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Dial *99# from your phone</li>\r\n 	<li>Choose your language</li>\r\n 	<li>Select your bank</li>\r\n 	<li>Register your bank account</li>\r\n 	<li>Enter card details to generate UPI pin and VPA ID</li>\r\n 	<li>Share VPA ID to initiate transactions</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability</strong>\r\nRetailer to distributor payments in the FMCG sectors in rural and semi-urban regions[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][/vc_row_inner][vc_row_inner gap=\"35\" inner_container=\"yes\"][vc_column_inner width=\"1/2\" css=\".vc_custom_1518689891874{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13324\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278019041{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"mPOS\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"An mPOS is a smartphone tablet, or a dedicated wireless device that records sales and conducts cashless transactions.\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_empty_space height=\"22px\"][vc_tta_accordion style=\"outline\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523360763909-8f003621-0fc4\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Smartphone device</li>\r\n 	<li> Internet connectivity</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> Epaisa, mSwipe, Ezetap, FTCash, PayBee[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> At the discretion of the provider[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li> Infrastructure cost of INR 4,000 to INR 8,000</li>\r\n 	<li>Monthly fee of INR 200 to INR 1,000</li>\r\n 	<li>Merchant Discount Rate (MDR) as applicable</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13339\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523280679239{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Device activated upon KYC checks</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability</strong>\r\n<ul>\r\n 	<li>Mid-to-large businesses</li>\r\n</ul>\r\n[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1518690430563{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13325\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278047963{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"Wallets\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"A wallet is a virtual holder for all your cards and bank accounts. This system allows consumers to transact quickly without entering their card/bank account details every time they shop.\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_tta_accordion style=\"outline\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523361224329-327b99b5-bf84\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Smartphone</li>\r\n 	<li>Internet connectivity</li>\r\n 	<li>Activated wallet account linked to credit/debit card</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> PayTM, Mobikwik[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong>\r\n<ul>\r\n 	<li>Less than INR 20,000 per transaction without KYC</li>\r\n 	<li>Up to INR 1,00,000 per transaction with KYC</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li> INR 0 for peer-to-peer transactions</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13341\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523281094382{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Download the wallet app</li>\r\n 	<li>Register on the app with personal credentials</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability</strong>\r\n<ul>\r\n 	<li>Small businesses</li>\r\n 	<li>eCommerce portals</li>\r\n 	<li>Home entrepreneurs</li>\r\n</ul>\r\n[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1523010478885{margin-right: 5px !important;margin-left: 5px !important;padding-bottom: 30px !important;background-color: #ffffff !important;}\"][vc_column_inner][vc_empty_space height=\"40px\"][vc_single_image image=\"13326\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278093969{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"BIOMETRIC SOLUTIONS\" font_container=\"tag:p|font_size:21px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" gap=\"35\" inner_container=\"yes\"][vc_column_inner width=\"1/4\"][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1518689891874{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13327\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278125321{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"mPOS\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"An mPOS is a smartphone tablet, or a dedicated wireless device that records sales and conducts cashless transactions.\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_tta_accordion style=\"outline\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523363510685-6850f3f0-f323\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Smartphone device</li>\r\n 	<li> Internet connectivity</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> Epaisa, mSwipe, Ezetap, FTCash, PayBee[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> At the discretion of the provider[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li> Infrastructure cost of INR 4,000 to INR 8,000</li>\r\n 	<li>Monthly fee of INR 200 to INR 1,000</li>\r\n 	<li>Merchant Discount Rate (MDR) as applicable</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13343\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523281337963{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Device activated upon KYC checks</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability :</strong> Mid-to-large businesses[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][vc_column_inner width=\"1/4\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1523010478885{margin-right: 5px !important;margin-left: 5px !important;padding-bottom: 30px !important;background-color: #ffffff !important;}\"][vc_column_inner][vc_empty_space height=\"40px\"][vc_single_image image=\"13328\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278147029{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"EXCLUSIVE CARD-ACCEPTANCE SOLUTIONS\" font_container=\"tag:p|font_size:21px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner gap=\"35\" inner_container=\"yes\"][vc_column_inner width=\"1/2\" css=\".vc_custom_1518689891874{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13329\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278182731{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"BharatQR\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"Developed by the NPCI, BharatQR is an integrated payment solution that enables quick and secure transactions via QR code technology\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_tta_accordion style=\"outline\" color=\"white\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523363928330-5580fea0-76b4\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Bank registered QR code for merchant</li>\r\n 	<li>Smartphone for customer</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> All banking apps[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> At the discretion of the provider[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li>Monthly fees of INR 100 to INR 300</li>\r\n 	<li>Merchant Discount Rate (MDR) applicable</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13351\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523283067033{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Contact your bank</li>\r\n 	<li>Register and activate QR code (subject to KYC)</li>\r\n 	<li>Share QR code to transact via scan &amp; pay</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability :</strong> Small businesses[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1518690430563{border-bottom-width: 3px !important;padding-top: 5% !important;padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;border-bottom-color: #cf1f3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13331\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523278235374{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"POS\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23d1203d|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\"][vc_custom_heading text=\"A device that records sales, and conducts cashless transactions at a merchant location\" font_container=\"tag:p|font_size:18px|text_align:center|color:%23373a3a|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_tta_accordion style=\"outline\" color=\"white\" active_section=\"0\" collapsible_all=\"true\" el_class=\"dawn-digital-tab\"][vc_tta_section title=\"Read More\" tab_id=\"1523363861424-c9f6522c-cdf5\"][vc_single_image image=\"13232\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015981162{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Prerequisites</strong>\r\n<ul>\r\n 	<li>Fixed telephone line</li>\r\n 	<li>Data connection</li>\r\n 	<li>Current account</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13226\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523015479782{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Popular payment providers:</strong> All banks[/vc_column_text][vc_single_image image=\"13234\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016527613{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Transaction limits:</strong> At the discretion of the provider\r\n[/vc_column_text][vc_single_image image=\"13235\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523016685787{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Cost of transaction/solution</strong>\r\n<ul>\r\n 	<li> Annual cost of INR 6,000 to INR 10,000</li>\r\n 	<li>Merchant Discount Rate (MDR) applicable</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13346\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523281740306{margin-bottom: 10px !important;}\"][vc_single_image image=\"13239\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017006941{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Getting started</strong>\r\n<ul>\r\n 	<li>Contact your home bank branch</li>\r\n 	<li>Enrol your business for POS</li>\r\n 	<li>Submit KYC documents</li>\r\n 	<li>Bank delivers and activates POS machine</li>\r\n</ul>\r\n[/vc_column_text][vc_single_image image=\"13241\" img_size=\"full\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1523017208114{margin-bottom: 10px !important;}\"][vc_column_text letter_spacing=\"\"]<strong>Use case applicability :</strong> Medium-to-large businesses[/vc_column_text][/vc_tta_section][/vc_tta_accordion][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\r\n<h3 style=\"text-align: center;\">Together, let’s bridge the financial divide with digital payments!</h3>\r\n<p style=\"text-align: center;\">Technical Writers : Sapna Bharath and Gaurav Singhal</p>\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/04/Catalyst-Donor-Brochure.pdf\" target=\"_blank\" position=\"center\" size=\"lg\" type=\"boxed-icon\" special=\"no\" icon=\"download\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pkirbtn\" icon_custom_background=\"#d11e3c\" 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(13442, 13, '2018-04-13 16:31:13', '2018-04-13 16:31:13', '[vc_row padding_top=\"0\" padding_bottom=\"0\"][vc_column][vc_row_inner][vc_column_inner][rev_slider_vc alias=\"home-banner\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" el_id=\"first-section\" disable_element=\"yes\" front_status=\"draft\" inner_container=\"no\" type=\"image\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"0\" padding_bottom=\"0\" fixed_height=\"899px\"][vc_column][vc_row_inner inner_container=\"yes\" min_height=\"899px\" bg_pos_h=\"center\" bg_pos_v=\"top\" css=\".vc_custom_1483077947446{background-image: url(http://cashlesscatalyst.org/wp-content/uploads/2015/11/triangle-banner1.png?id=7987) !important;background-position: 0 0 !important;background-repeat: no-repeat !important;}\" el_id=\"white-triangle\"][vc_column_inner el_class=\"pzindex\" offset=\"vc_col-lg-6 vc_col-md-8 vc_col-xs-12\"][kleo_gap size=\"120px\" visibility=\"visible-xs\"][kleo_gap size=\"160px\" visibility=\"visible-sm\"][kleo_gap size=\"200px\" visibility=\"visible-md,visible-lg\"][vc_custom_heading text=\"BRIDGING THE FINANCIAL DIVIDE THROUGH DIGITAL PAYMENTS\" font_container=\"tag:h1|font_size:36px|text_align:left|line_height:42px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text font_size=\"16px\" vertical_separator=\"yes\" letter_spacing=\"\" letter-spacing=\"75\"]Catalyst is working to help India’s small businesses and low-income consumers unlock the power of digital payments to gain access to broader financial services and create opportunities vital to their future prosperity.[/vc_column_text][vc_column_text letter_spacing=\"\" css=\".vc_custom_1488436513549{margin-left: 40px !important;}\"]\r\n<p style=\"text-align: left;\"><span class=\"learn-more\"><a style=\"text-decoration: none;\" href=\"http://cashlesscatalyst.org/about\">Learn More <i class=\"fa fa-angle-right\"></i></a></span></p>\r\n[/vc_column_text][vc_btn title=\"Learn More\" style=\"custom\" custom_background=\"\" custom_text=\"#000000\" shape=\"square\" size=\"lg\" i_align=\"right\" i_icon_fontawesome=\"fa fa-angle-right\" add_icon=\"true\" el_class=\"learn-more hidden\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fbeta%2Fabout|title:Learn%20More||\"][/vc_column_inner][vc_column_inner offset=\"vc_col-lg-3\"][/vc_column_inner][vc_column_inner offset=\"vc_col-lg-4 vc_col-md-4 vc_col-xs-12\"][kleo_gap size=\"213px\" visibility=\"visible-xs,visible-sm\"][kleo_gap size=\"634px\" visibility=\"visible-md,visible-lg\"][vc_single_image image=\"7820\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"services\" type=\"image\" bg_color=\"#ffffff\" bg_repeat=\"repeat\" padding_top=\"\" padding_bottom=\"\"][vc_column][kleo_magic_container position=\"absolute\" top=\"0px\" left=\"50%\" min_height=\"521px\" width=\"2560px\" el_class=\"phide\" css=\".vc_custom_1504873033198{margin-left: -1145px !important;background-image: url(http://cashlesscatalyst.org/wp-content/uploads/2015/11/home-banner-triangle.png?id=7813) !important;background-position: 0 0 !important;background-repeat: no-repeat !important;}\"][/kleo_magic_container][vc_row_inner equal_height=\"yes\" css=\".vc_custom_1486361953253{margin-bottom: 20px !important;padding-top: 5% !important;padding-right: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;}\"][vc_column_inner css=\".vc_custom_1486361714089{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"THE CURRENT INDIAN PAYMENT CONTEXT\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23373a3a|line_height:42px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487844018271{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_empty_space height=\"20px\"][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"12344\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1520527988267{margin-bottom: 10px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1488778066775{padding-right: 2.5% !important;padding-left: 2.5% !important;}\"]\r\n<p style=\"text-align: center;\">Digitization of person to merchant expenditure</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"9539\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1488436279207{margin-bottom: 10px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\" el_class=\"lh24\"]\r\n<p style=\"text-align: center;\">Digitization of small retailer to supplier payments</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_single_image image=\"9795\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1488779580873{margin-bottom: 10px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\" el_class=\"lh24\"]\r\n<p style=\"text-align: center;\">Cost of cash as a share of GDP</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner][kleo_gap size=\"30px\"][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: center;\"><span class=\"learn-more\"><a style=\"text-decoration: none;\" href=\"http://cashlesscatalyst.org/about#navigating-unchartered-waters\">Learn More <i class=\"fa fa-angle-right\"></i></a></span></p>\r\n[/vc_column_text][kleo_gap size=\"40px\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"services\" disable_element=\"yes\" front_status=\"draft\" type=\"image\" bg_image=\"7841\"][vc_column][vc_row_inner inner_container=\"yes\" css=\".vc_custom_1488440272700{padding-right: 0px !important;padding-left: 0px !important;}\"][vc_column_inner css=\".vc_custom_1488440278733{padding-top: 20px !important;padding-right: 0px !important;padding-left: 0px !important;}\"][vc_custom_heading text=\"OVERCOMING THE CHALLENGES OF LAST MILE FINANCIAL INCLUSION\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23373a3a|line_height:36px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text font_size=\"18px\" letter_spacing=\"\" el_class=\"pcenter\" css=\".vc_custom_1488444536190{padding-right: 17% !important;padding-left: 17% !important;}\"]Catalyst aims to leverage recent advancements in digital payments technology as well as new policy and regulatory initiatives to build scalable and sustainable models to achieve last mile financial inclusion.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner el_class=\"row-no-gap pbtlm-container\" css=\".vc_custom_1488463745277{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_inner width=\"5/12\" css=\".vc_custom_1488462634730{margin-right: 0px !important;margin-left: 0px !important;padding-top: 0px !important;padding-right: 0px !important;padding-bottom: 0px !important;}\"][kleo_gap size=\"220px\" class=\"pheight150\"][vc_column_text font_size=\"16px\" letter_spacing=\"\" css=\".vc_custom_1488462601539{padding-top: 10px !important;padding-right: 0px !important;padding-bottom: 0px !important;padding-left: 0px !important;}\"]\r\n<table width=\"100%\" cellspacing=\"10\" cellpadding=\"10\" align=\"right\">\r\n<tbody>\r\n<tr>\r\n<td></td>\r\n<td align=\"left\" valign=\"top\" width=\"300\">\r\n<h3 style=\"text-align: right;\"><strong>Policy</strong></h3>\r\n<p style=\"text-align: right;\">Government initiatives such as Jan Dhan Yojana, Direct benefit Transfers, Small Finance and Payment Banks, and Incentives for a Less Cash Economy - to promote democratization of finance</p>\r\n</td>\r\n<td align=\"left\" valign=\"top\" width=\"113\"><img class=\"alignleft size-full wp-image-9546\" src=\"http://cashlesscatalyst.org/wp-content/uploads/2015/11/home-icon-05.png\" alt=\"home-icon-05\" width=\"101\" height=\"114\" /></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"2/12\" css=\".vc_custom_1488463840016{margin-right: 0px !important;margin-left: 0px !important;padding-top: 0px !important;padding-right: 0px !important;padding-bottom: 0px !important;padding-left: 0px !important;}\"][kleo_gap size=\"45px\" class=\"pheight50\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1488464611366{margin-top: 0px !important;margin-right: 0px !important;margin-bottom: 0px !important;margin-left: 0px !important;padding-top: 0px !important;padding-right: 0px !important;padding-bottom: 0px !important;padding-left: 0px !important;}\"]\r\n<div><img class=\"size-full wp-image-9676 aligncenter\" style=\"margin-bottm: 0; padding-bottom: 0;\" src=\"http://cashlesscatalyst.org/wp-content/uploads/2017/03/time-line-1.png\" alt=\"time-line\" width=\"220\" height=\"391\" /></div>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"5/12\" css=\".vc_custom_1488462641546{margin-right: 0px !important;margin-left: 0px !important;padding-top: 0px !important;padding-right: 0px !important;padding-bottom: 0px !important;padding-left: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\" css=\".vc_custom_1488462617155{padding-top: 10px !important;padding-right: 0px !important;padding-bottom: 0px !important;padding-left: 0px !important;}\"]\r\n<table width=\"100%\" cellspacing=\"10\" cellpadding=\"10\">\r\n<tbody>\r\n<tr>\r\n<td align=\"left\" valign=\"top\" width=\"113\"><img class=\"alignleft size-full wp-image-9545\" src=\"http://cashlesscatalyst.org/wp-content/uploads/2015/11/home-icon-04.png\" alt=\"home-icon-04\" width=\"101\" height=\"114\" /></td>\r\n<td align=\"left\" valign=\"top\" width=\"300\">\r\n<h3><strong>Technology</strong></h3>\r\nOpen, interoperable platform technologies such as Aadhaar, Unified Payments Interface (UPI), and the ‘Indian Stack’ -- with an overarching layer of innovative apps</td>\r\n<td></td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1488465033413{margin-top: 0px !important;padding-top: 0px !important;}\" el_class=\"row-no-gap pbtlm-container\"][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner width=\"2/3\" css=\".vc_custom_1488463771273{margin-top: 0px !important;padding-top: 0px !important;}\"][vc_single_image image=\"9564\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1488463262951{margin-top: 0px !important;margin-bottom: 10px !important;padding-top: 0px !important;}\"][vc_custom_heading text=\"Last Mile\" font_container=\"tag:h3|font_size:22px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488463185634{padding-top: 5px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Coordinated motivation of small businesses, consumers and solution providers to drive high-frequency, low-value digital transactions and large scale adoption</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][vc_row_inner content_placement=\"middle\" inner_container=\"yes\" el_class=\"row-no-gap pbtlm-containerm\" css=\".vc_custom_1488465064371{padding-right: 0px !important;padding-bottom: 20px !important;padding-left: 0px !important;}\"][vc_column_inner css=\".vc_custom_1488465072961{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-right: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#ffffff\" letter_spacing=\"75\"]<img class=\"size-full wp-image-9545 aligncenter\" src=\"http://cashlesscatalyst.org/wp-content/uploads/2015/11/home-icon-04.png\" alt=\"home-icon-04\" width=\"101\" height=\"114\" />[/vc_column_text][vc_custom_heading text=\"Technology\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488464879416{padding-top: 5px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Open, interoperable platform technologies such as Aadhaar, Unified Payments Interface (UPI), and the ‘Indian Stack’ -- with an overarching layer of innovative apps</p>\r\n[/vc_column_text][kleo_gap size=\"20px\"][vc_column_text letter_spacing=\"\"]<img class=\"size-full wp-image-9546 aligncenter\" src=\"http://cashlesscatalyst.org/wp-content/uploads/2015/11/home-icon-05.png\" alt=\"home-icon-05\" width=\"101\" height=\"114\" />[/vc_column_text][vc_custom_heading text=\"Policy\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488464902446{padding-top: 5px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Government initiatives such as Jan Dhan Yojana, Direct benefit Transfers, Small Finance and Payment Banks, and Incentives for a Less Cash Economy - to promote democratization of finance</p>\r\n[/vc_column_text][kleo_gap size=\"20px\"][vc_column_text letter_spacing=\"\"]<img class=\"size-full wp-image-9564 aligncenter\" src=\"http://cashlesscatalyst.org/wp-content/uploads/2017/03/home-icon-06.png\" alt=\"home-icon-06\" width=\"101\" height=\"114\" />[/vc_column_text][vc_custom_heading text=\"Last Mile\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488464926557{padding-top: 5px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Coordinated motivation of small businesses, consumers and solution providers to drive high-frequency, low-value digital transactions and large scale adoption</p>\r\n[/vc_column_text][kleo_gap size=\"20px\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" visibility=\"hidden-xs,hidden-sm,hidden-md,visible-lg,visible-xlg\" bg_image=\"10057\"][vc_column][vc_row_inner inner_container=\"yes\" css=\".vc_custom_1488440272700{padding-right: 0px !important;padding-left: 0px !important;}\"][vc_column_inner css=\".vc_custom_1488440278733{padding-top: 20px !important;padding-right: 0px !important;padding-left: 0px !important;}\"][vc_custom_heading text=\"NEGOTIATING THE CHALLENGES OF THE LAST MILE\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23ffffff|line_height:36px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#ffffff\" font_size=\"18px\" letter_spacing=\"\" el_class=\"pcenter\" css=\".vc_custom_1504598529461{padding-right: 17% !important;padding-left: 17% !important;}\"]Catalyst aims to build on recent advancements in digital payments technology and policy to create scalable and sustainable models to achieve last mile financial inclusion[/vc_column_text][vc_empty_space height=\"40px\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1488465033413{margin-top: 0px !important;padding-top: 0px !important;}\" el_class=\"row-no-gap pbtlm-container\"][vc_column_inner][vc_single_image image=\"9992\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1491920995715{margin-top: 0px !important;margin-bottom: 10px !important;padding-top: 0px !important;}\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" visibility=\"hidden-lg,hidden-xlg\" bg_image=\"10057\"][vc_column][vc_row_inner inner_container=\"yes\" css=\".vc_custom_1488440272700{padding-right: 0px !important;padding-left: 0px !important;}\"][vc_column_inner css=\".vc_custom_1488440278733{padding-top: 20px !important;padding-right: 0px !important;padding-left: 0px !important;}\"][vc_custom_heading text=\"NEGOTIATING THE CHALLENGES OF THE LAST MILE\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23ffffff|line_height:36px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#ffffff\" font_size=\"18px\" letter_spacing=\"\" el_class=\"pcenter\" css=\".vc_custom_1489497140001{padding-right: 17% !important;padding-left: 17% !important;}\"]Catalyst aims to build on recent advancements in digital payments technology and policy to create scalable and sustainable models to achieve last mile financial inclusion.[/vc_column_text][vc_empty_space height=\"40px\"][/vc_column_inner][/vc_row_inner][vc_row_inner content_placement=\"middle\" inner_container=\"yes\" el_class=\"row-no-gap pbtlm-containerm\" css=\".vc_custom_1488465064371{padding-right: 0px !important;padding-bottom: 20px !important;padding-left: 0px !important;}\"][vc_column_inner css=\".vc_custom_1488465072961{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-right: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#ffffff\" letter_spacing=\"75\"]<img class=\"size-full wp-image-9545 aligncenter\" src=\"http://cashlesscatalyst.org/wp-content/uploads/2015/11/home-icon-04.png\" alt=\"home-icon-04\" width=\"101\" height=\"114\" />[/vc_column_text][vc_custom_heading text=\"Technology\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23ffffff|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488551459544{padding-top: 5px !important;}\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Open, interoperable platform technologies such as Aadhaar, Unified Payments Interface (UPI), and the ‘India Stack’ -- with an overarching layer of innovative apps</p>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]<img class=\"size-full wp-image-9546 aligncenter\" src=\"http://cashlesscatalyst.org/wp-content/uploads/2015/11/home-icon-05.png\" alt=\"home-icon-05\" width=\"101\" height=\"114\" />[/vc_column_text][vc_custom_heading text=\"Policy\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23ffffff|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488551377939{padding-top: 5px !important;}\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Government initiatives such as Jan Dhan Yojana, Direct benefit Transfers, Small Finance and Payment Banks, and Incentives for a Less Cash Economy - to promote democratization of finance</p>\r\n[/vc_column_text][kleo_gap size=\"20px\"][kleo_gap size=\"20px\"][vc_column_text letter_spacing=\"\"]<img class=\"aligncenter size-full wp-image-9986\" src=\"http://cashlesscatalyst.org/wp-content/uploads/2017/03/lastmile-icon.png\" alt=\"\" width=\"100\" height=\"113\" />[/vc_column_text][vc_custom_heading text=\"Last Mile\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23ffffff|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488551407248{padding-top: 5px !important;}\"][vc_column_text text_color=\"#ffffff\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Coordinating small businesses, consumers and solution providers to drive high-frequency, low-value digital transactions and large scale adoption</p>\r\n[/vc_column_text][kleo_gap size=\"20px\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" visibility=\"hidden-xs,hidden-sm,visible-md,visible-lg,visible-xlg\"][vc_column][vc_custom_heading text=\"OUR ECOSYSTEM APPROACH TO DRIVE DIGITAL PENETRATION\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23373a3a|line_height:42px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1501664101325{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][kleo_gap size=\"60px\"][vc_row_inner css=\".vc_custom_1488458926941{background-color: #ffffff !important;}\"][vc_column_inner][vc_single_image image=\"9978\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"40px\"][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: center;\"><span class=\"learn-more\"><a style=\"text-decoration: none;\" href=\"http://cashlesscatalyst.org/about/#ecosystem-approach\">Learn More <i class=\"fa fa-angle-right\"></i></a></span></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" visibility=\"hidden-md,hidden-lg,hidden-xlg,visible-xs,visible-sm\"][vc_column][vc_custom_heading text=\"OUR ECOSYSTEM APPROACH TO DRIVE DIGITAL PENETRATION\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23373a3a|line_height:42px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1501663979800{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][kleo_gap size=\"40px\"][vc_row_inner equal_height=\"yes\" css=\".vc_custom_1486562584420{background-color: #ffffff !important;}\"][vc_column_inner width=\"1/4\"][vc_single_image image=\"9972\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1489155741994{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"Define\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487845176242{padding-top: 5px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1487845511877{padding-right: 5% !important;padding-left: 5% !important;}\"]\r\n<p style=\"text-align: center;\">Distinct economic geographies</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"9973\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1489155771257{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"Test\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487845204067{padding-top: 5px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1487845496370{padding-right: 5% !important;padding-left: 5% !important;}\"]\r\n<p style=\"text-align: center;\">Technology and business models</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"9979\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1489484311056{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"Support\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1489484237352{padding-top: 5px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1487845475351{padding-right: 5% !important;padding-left: 5% !important;}\"]\r\n<p style=\"text-align: center;\">Policy and regulation</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"9974\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1489155800651{margin-bottom: 10px !important;}\"][vc_custom_heading text=\"Scale\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487845334597{padding-top: 5px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1487845444766{padding-right: 5% !important;padding-left: 5% !important;}\"]\r\n<p style=\"text-align: center;\">Successful initiatives</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][kleo_gap size=\"40px\"][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: center;\"><span class=\"learn-more\"><a style=\"text-decoration: none;\" href=\"http://cashlesscatalyst.org/about/#ecosystem-approach\">Learn More <i class=\"fa fa-angle-right\"></i></a></span></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" disable_element=\"yes\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"20\" padding_bottom=\"0\"][vc_column width=\"5/12\"][vc_row_inner][vc_column_inner][vc_single_image image=\"9140\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1487945744121{margin-bottom: 10px !important;}\" link=\"http://cashlesscatalyst.org/digital-payment-lab/\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1487685045372{margin-top: 15px !important;}\"][vc_column_inner][vc_column_text letter_spacing=\"\" el_class=\"wpb_video_widget wpb_content_element vc_clearfix vc_video-aspect-ratio-169 vc_video-el-width-100 vc_video-align-center\" css=\".vc_custom_1484218583910{margin-bottom: 0px !important;}\"]\r\n<div><iframe src=\"https://www.youtube.com/embed/yHASqaMQjhM?rel=0&amp;showinfo=0\" width=\"100%\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"></iframe></div>\r\n[/vc_column_text][vc_custom_heading text=\"Digital Financial Inclusion: The India Story\" font_container=\"tag:p|font_size:16px|text_align:left|line_height:22px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=\"7/12\"][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\" el_class=\"wpb_video_widget wpb_content_element vc_clearfix vc_video-aspect-ratio-169 vc_video-el-width-100 vc_video-align-center\" css=\".vc_custom_1484218505851{margin-bottom: 0px !important;}\"]\r\n<div><iframe src=\"https://www.youtube.com/embed/gs_Y_EvfPGA?rel=0&amp;showinfo=0\" width=\"100%\" height=\"350\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"></iframe></div>\r\n[/vc_column_text][vc_custom_heading text=\"Badal Malick (CEO, Catalyst) speaking about Catalyst’s strategic vision at the Better Than Cash Alliance event in Delhi.\" font_container=\"tag:p|font_size:16px|text_align:left|line_height:22px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487850171686{margin-bottom: 9px !important;}\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/3\"][vc_single_image image=\"9137\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" css=\".vc_custom_1487675479814{margin-bottom: 10px !important;}\" link=\"http://cashlesscatalyst.org/wp-content/uploads/2017/01/India-Stack.pdf\"][vc_single_image image=\"9138\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" css=\".vc_custom_1487945859988{margin-bottom: 10px !important;}\" link=\"http://cashlesscatalyst.org/wp-content/uploads/2017/01/BCG-Google-Digital-Payments-2020-July-2016_tcm21-39245.pdf\"][/vc_column_inner][vc_column_inner width=\"2/3\"][vc_single_image image=\"9231\" img_size=\"full\" alignment=\"center\" full_width=\"yes\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1487849533532{margin-bottom: 0px !important;padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Read More\" href=\"http://cashlesscatalyst.org/digital-kirana/\" style=\"custom\" border_width=\"2px\" position=\"left\" size=\"sm\" special=\"no\" icon=\"0\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pdp-btn\" custom_background=\"rgba(208,31,60,0.85)\" custom_bg_hover=\"#ffffff\" custom_text=\"#ffffff\" custom_text_hover=\"#d01f3c\" custom_border=\"#d01f3c\" custom_border_hover=\"#ffffff\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" disable_element=\"yes\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/4\"][vc_single_image image=\"9233\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" full_width=\"yes\" el_class=\"pwag-height\" link=\"http://cashlesscatalyst.org/wp-content/uploads/2017/01/watal_report-27-12-16.pdf\"][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_single_image image=\"9234\" img_size=\"large\" alignment=\"center\" full_width=\"yes\" el_class=\"pwag-height\" css=\".vc_custom_1487849681448{margin-bottom: 0px !important;padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Read More\" href=\"http://cashlesscatalyst.org/alternative-lending/\" target=\"_blank\" style=\"custom\" border_width=\"2px\" position=\"left\" size=\"sm\" special=\"no\" icon=\"0\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pdp-btn\" custom_background=\"rgba(208,31,60,0.85)\" custom_bg_hover=\"#ffffff\" custom_text=\"#ffffff\" custom_text_hover=\"#d01f3c\" custom_border=\"#d01f3c\" custom_border_hover=\"#ffffff\"][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"9235\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" full_width=\"yes\" el_class=\"pwag-height\" link=\"http://www.itu.int/en/ITU-T/focusgroups/dfs/Documents/09_2016/FINAL%20ENDORSED%20Enabling%20Merchant%20Payments%20Acceptance%2030%20May%202016_formatted%20AM.pdf\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\r\n\r\n[gallery tiles=\"yes\" columns=\"6\" size=\"full\" grids=\"Home Bottom Updated\" small_screen_grid=\"Gallery-mobile\" image_size=\"full\" ids=\"13448,13451,12306,9642,10622,9636,12085,12086,13449,10621,11301,10620\"]\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" padding_top=\"50px\" padding_bottom=\"50px\" bg_image=\"7886\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" 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(41102, 0, '2019-04-04 01:56:58', '2019-04-04 01:56:58', 'A new comment on the post \"What’s Cooking in our Digital Payments Lab?\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/catalyst-blog/whats-cooking-digital-payments-lab/\r\n\r\nAuthor: Roseanne (IP: 171.22.122.75, 171.22.122.75)\r\nEmail: lorenzoweatherburn@gmail.com\r\nURL: https://www.constructor-machines.com/\r\nComment: \r\nThank you for the wonderful post\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12091#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12091#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12091#wpbody-content\r\nCurrently 152 comments are waiting for approval. Please visit the moderation panel:\r\nhttps://cashlesscatalyst.org/wp-admin/edit-comments.php?comment_status=moderated#wpbody-content\r\n', '[Catalyst] Please moderate: \"What’s Cooking in our Digital Payments Lab?\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-whats-cooking-in-our-digital-payments-lab-2', '', '', '2019-04-04 01:56:58', '2019-04-04 01:56:58', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-whats-cooking-in-our-digital-payments-lab-2/', 0, 'postman_sent_mail', '', 0);
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Please visit the moderation panel:\r\nhttps://cashlesscatalyst.org/wp-admin/edit-comments.php?comment_status=moderated#wpbody-content\r\n', '[Catalyst] Please moderate: \"The view from 10 months in..\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-the-view-from-10-months-in-7', '', '', '2019-04-05 06:37:50', '2019-04-05 06:37:50', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-7/', 0, 'postman_sent_mail', '', 0),
(41111, 0, '2019-04-05 17:33:03', '2019-04-05 17:33:03', 'A new comment on the post \"Remote Payments Era: the new ‘boom’ transforming the digital payment landscape\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/remote-payments-era-new-boom-transforming-digital-payment-landscape/\r\n\r\nAuthor: article (IP: 158.222.8.116, 116.8.222.158.static.usabroadband.net)\r\nEmail: fatima.weekes@bigstring.com\r\nURL: http://screendeck.tv/nine-of-the-best-skype-call-recorder-for-windows-10/\r\nComment: \r\nThanks to the great guide\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12095#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12095#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12095#wpbody-content\r\nCurrently 156 comments are waiting for approval. Please visit the moderation panel:\r\nhttps://cashlesscatalyst.org/wp-admin/edit-comments.php?comment_status=moderated#wpbody-content\r\n', '[Catalyst] Please moderate: \"Remote Payments Era: the new ‘boom’ transforming the digital payment landscape\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-remote-payments-era-the-new-boom-transforming-the-digital-payment-landscape', '', '', '2019-04-05 17:33:03', '2019-04-05 17:33:03', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-remote-payments-era-the-new-boom-transforming-the-digital-payment-landscape/', 0, 'postman_sent_mail', '', 0),
(41108, 0, '2019-04-05 15:15:47', '2019-04-05 15:15:47', 'A new comment on the post \"Partner Update\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/partner-update/\r\n\r\nAuthor: Sniptools.Com (IP: 107.174.236.161, 107-174-236-161-host.colocrossing.com)\r\nEmail: jeremygentile@t-online.de\r\nURL: http://sniptools.com/reviews/best-pdf-to-word-converters-2019/\r\nComment: \r\nThanks, it\'s quite informative\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12093#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12093#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12093#wpbody-content\r\nCurrently 154 comments are waiting for approval. Please visit the moderation panel:\r\nhttps://cashlesscatalyst.org/wp-admin/edit-comments.php?comment_status=moderated#wpbody-content\r\n', '[Catalyst] Please moderate: \"Partner Update\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-partner-update-3', '', '', '2019-04-05 15:15:47', '2019-04-05 15:15:47', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-partner-update-3/', 0, 'postman_sent_mail', '', 0),
(15339, 13, '2018-06-07 15:13:29', '2018-06-07 15:13:29', '', 'emitra1', '', 'inherit', 'closed', 'closed', '', 'emitra1', '', '', '2018-06-07 15:13:29', '2018-06-07 15:13:29', '', 15315, 'http://cashlesscatalyst.org/wp-content/uploads/2018/06/emitra1.jpg', 0, 'attachment', 'image/jpeg', 0),
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(24281, 13, '2018-07-11 13:18:47', '2018-07-11 13:18:47', '', 'inner-banner', '', 'inherit', 'closed', 'closed', '', 'inner-banner', '', '', '2018-07-11 13:18:47', '2018-07-11 13:18:47', '', 24269, 'http://cashlesscatalyst.org/wp-content/uploads/2018/07/inner-banner.jpg', 0, 'attachment', 'image/jpeg', 0),
(25375, 12, '2018-08-18 10:43:14', '0000-00-00 00:00:00', '[vc_row full_height=\"yes\" equal_height=\"yes\" content_placement=\"middle\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"110\" padding_bottom=\"0\" bg_image=\"15326\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner][vc_custom_heading text=\"BOB DYLAN, MONEYBALL AND SANDBOXES\r\nWHAT’S BREWING AT THE POLICY TEAM AT CATALYST\" font_container=\"tag:h2|font_size:48px|text_align:center|color:%23ffffff|line_height:54px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"130px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\" css=\".vc_custom_1504265033147{padding-right: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265063058{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265782417{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"http://cashlesscatalyst.org/wp-content/uploads/2018/06/What-Cooking-in-our-Digital-Payments-Lab.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"30\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Paul Volcker, the former head of the Federal Reserve once told American financial services executives that the ATM was the peak of innovation in the financial industry. While reasonable folks may disagree with Volcker, it is certain that the pace of innovation in the financial sector space is slow, in part, as an unintended consequence of entry-barriers and maze of regulations governing the sector. In the aftermath of the great financial crisis of 2008, regulatory caution is perhaps expected. Nonetheless, the absence of innovation in the financial sector may have consequential impact in terms of inhibiting the rate of financial inclusion for the poor. (There are structural/legal reasons for according stability a “first among equals” treatment among the several regulatory goals. For example, the constituent statutes of most central banks make stability and controlling inflation as their main goals. Thus there is an Institutional bias in favor of preserving stability).\r\n\r\nIn recent years, starting with the Financial Conduct Authority (UK), regulators have attempted to intermediate the tension between innovation and stability through the construct of a regulatory sandbox.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"] Simply put, a regulatory sandbox is a “safe space” in which businesses can test innovative products, services, business models and delivery mechanisms without incurring regulatory consequences of engaging in the activity in question.\r\n\r\nA controlled environment ensures that the businesses operate without any risk of enforcement actions from the regulators. (The actionable instrument here is in the form of a “No-action letter” that issues from the regulator to the entity experimenting for the duration of the experiment). Regulators from Australia, HK, Malaysia and Singapore have followed the template laid down by FCA and set up their own sandboxes.  In fact, as a CGAP paper on the issue tells us, more than 20 countries from Abu Dhabi to Sierra Leone have adopted the concept. Closer home, an internal working group at the RBI also appears to be convinced of the potential of a sandbox to promote innovation and has recommended that it be housed at the IDRBT.  <sup>2</sup>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]But why am I telling you all this? Because at Catalyst, continuing with our commitment to financial inclusion, we have embarked on a project that compliments the idea of regulatory sandbox. Jumping ahead of the regulatory sandbox curve if you will, we are presently documenting use-cases that remain constrained owing to regulatory, infrastructural or operational reasons. We have put together the first tranche of 7 such areas and propose to document a total of 15 scalable use-cases that are also relevant from a financial inclusion stand-point by the end of this exercise. We will disseminate the paper through a symposium and engage in concerted advocacy with the regulators along the way.\r\n\r\nI am going to walk you through the first tranche in a bit but before that, recall the scene from Moneyball when Billy Beane (Pitt) meets John Henry of the Boston Red Sox. Beane’s unorthodox approach to Baseball and reliance on statistics instead of scouts to source players had  the Oakland A’s on a 19 match unbeaten streak (that regrettably ended against Kansas in the playoffs). As John Henry told Beane:\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"30\" bg_image=\"7841\"][vc_column][vc_column_text text_color=\"#0c0c0c\" font_size=\"20px\" letter_spacing=\"\"]<em>But why am I telling you all this? Because at Catalyst, continuing with our commitment to financial inclusion, we have embarked on a project that compliments the idea of regulatory sandbox. Jumping ahead of the regulatory sandbox curve if you will, we are presently documenting use-cases that remain constrained owing to regulatory, infrastructural or operational reasons. We have put together the first tranche of 7 such areas and propose to document a total of 15 scalable use-cases that are also relevant from a financial inclusion stand-point by the end of this exercise. We will disseminate the paper through a symposium and engage in concerted advocacy with the regulators along the way.\r\n\r\nI am going to walk you through the first tranche in a bit but before that, recall the scene from Moneyball when Billy Beane (Pitt) meets John Henry of the Boston Red Sox. Beane’s unorthodox approach to Baseball and reliance on statistics instead of scouts to source players had  the Oakland A’s on a 19 match unbeaten streak (that regrettably ended against Kansas in the playoffs). As John Henry told Beane:<em>\r\n\r\n[/vc_column_text][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#0c0c0c\" font_size=\"20px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]<em>“I know you’ve taken it in the teeth out there, but the first guy through the wall — he always gets bloody. Always. It’s the threat of not just the way of doing business, but in their minds, it’s threatening the game. But really what it’s threatening is their livelihoods. It’s threatening their jobs. It’s threatening the way that they do things. And every time that happens, whether it’s the government or a way of doing business or whatever it is, the people who are holding the reins — have their hands on the switch — they go batshit crazy.”</em>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Fintech start-ups are the Billy Beane of our ecosystem. They invest capital and intellectual labor in a business idea motivated to solve for apparently difficult problems that society faces. As with Baseball the incumbents and the hard-coded legal rules and processes don’t make their task any easier.\r\n\r\nIt is important therefore to create facilitative Institutional framework where they can test business cases with potentially consequential benefits for the society; like the use-case on enabling customized wealth management for the informal sector consumers that we have covered. It is common knowledge that they experience high cash-flow volatility and are often under/uninsured. Yet, we do not have a regulatory framework for offering customized portfolio management, based on their unique needs. We suggest some testable solutions.\r\n\r\nAadhaar-Pay is another use-case rich with potential given India’s poorly developed general card acquiring infrastructure. Aadhaar Pay can be used by merchants as an alternative to cost-intensive PoS infrastructure in areas where PoS penetration is poor. However, the current unit economics does not support banks to acquire merchants on Aadhaar Pay rails.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]We propose, among other things, a change in the pricing model that compensates the acquiring bank that can proliferate the Aadhaar-Pay solution.\r\n\r\nFinally, there is the emergent form of lending on a non-recourse basis; a platform matches borrower to a group of lenders discovering the coupon on the loan through bidding on the platform. At present, RBI’s regulatory framework has restricted the use-case by capping both the lender-side and borrower-side exposure.  However, there is case for experimenting the use of these platforms for micro and small business credit. Equally, there is a case for experimenting scenarios where Institutional capital invests in these businesses and not merely natural persons. Likewise, these platforms can facilitate deepening of  secondary market for loans on balance sheet of conventional originators. At present, the secondary market participants only include banks and ARCs. Testing if these platforms can buy, spread and manage that risk among their Institutional investors if successful can unlock another buyer group and move importantly, clean up the formal financial system of NPAs faster. More on this later!\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"30\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#0c0c0c\" font_size=\"20px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]I will leave you all with a quote from Money Ball, (the book this time): <em>“If you challenge conventional wisdom, you will find ways to do things much better than they are currently done.”</em>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10px\" padding_bottom=\"10px\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265268713{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265795099{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"http://cashlesscatalyst.org/wp-content/uploads/2018/06/What-Cooking-in-our-Digital-Payments-Lab.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"5\" padding_bottom=\"5\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"][starbox id=18]\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" disable_element=\"yes\" front_status=\"draft\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" column_gap=\"no\" padding_top=\"70px\" padding_bottom=\"50px\" margin_top=\"0px\" bg_image=\"9937\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1484826151396{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative seeded by an alliance between the Government of India &amp; USAID, to expand digital payments and financial inclusion in India, especially for small merchants and low-income consumers.</p>\r\n\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'blog', '', 'draft', 'closed', 'open', '', '', '', '', '2018-08-18 10:43:14', '2018-08-18 10:43:14', '', 0, 'http://cashlesscatalyst.org/?p=25375', 7, 'post', '', 0);
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(22688, 13, '2018-07-03 13:42:57', '2018-07-03 13:42:57', '[vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"image\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"110\" padding_bottom=\"0\" bg_image=\"22795\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner width=\"2/3\"][vc_custom_heading text=\"MERCHANT PERSPECTIVES ON THE BHIM EXPERIENCE\" font_container=\"tag:h2|font_size:48px|text_align:center|color:%23ffffff|line_height:54px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"140px\"][kleo_gap size=\"50px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1488531456733{padding-right: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1488531444909{padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/07/BHIM-Learning-Note.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"BACKGROUND\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Since its introduction in August 2016, the Unified Payments Interface (UPI) has been a game changer for the digital payments ecosystem in India. The interface allows bank customers to make payments to another bank account on a real-time basis using the Immediate Payment Service (IMPS). The National Payments Corporation of India’s BHIM application, which is based on the UPI interface, was one of the first few UPI applications to gain traction among users. As part of its Digital Payments Lab in Jaipur, Catalyst piloted a merchant-centric UPI awareness and adoption campaign in a market cluster of nearly 400 retail outlets, Barkat Nagar, surrounded by a dense residential locality. The objective of the campaign was to enable merchants to accept payments via UPI-enabled applications at the point of sale, using Quick Response (QR) code stickers. It also endeavoured to test the suitability of the QR-based UPI solution for small merchants, and analyse the role of financial incentives and handholding models as an intervention to boost adoption and use by merchants and customers. [/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530610399307{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]A follow-up survey was conducted four months after the campaign’s launch, to garner feedback from a sample of users as well as non-adopters.\r\n\r\nThis note discusses learnings and insights from Catalyst’s pilot UPI awareness and activation campaign, followed by insights from the feedback survey that was conducted in March 2018. It provides an analytical perspective on the features that work in favour of BHIM, and barriers to its wider adoption and use. From a use perspective, insights suggest that the BHIM application faces stiff competition from other UPI applications and payment platforms in the market. The authors make a case for reorienting BHIM as an ‘ecosystem enabler’ and propose two strategies to this end.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22797\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"BHIM - SETTING THE STAGE FOR A NEW INTERFACE\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The Bharat Interface for Money (BHIM), a mobile application launched by NPCI in 2016, allows users to make account-to-account transfers using the Unified Payments Interface (UPI). Launched by the Government of India on the back of the withdrawal of legal tender of bank notes in denominations of Rs.500 and Rs.1000, BHIM was an integral constituent of the push towards a less cash ecosystem in the country. A nation-wide awareness and marketing campaign conducted at the time of the launch of the application, followed by promotional schemes for merchants and customers, translated into 19 million downloads between December 2016 and March 2017. Moreover, BHIM has been successful in generating mass awareness about a new interface (UPI), and spurring the creation of a UPI app ecosystem with nearly 40 applications in the market today[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]BHIM UPI users have the option to make payments using a virtual payment address (VPA) or by scanning a Quick Response (QR) code. As a form factor, the QR code is easy to use, and offers a user experience that is closer to cash as compared to other payment solutions such as cards. Once the QR code has been generated using the BHIM application, the merchant has to simply display the code at a prominent location in his/her establishment, and the customer can scan and pay on the go. In countries such as China, QR codes are playing an important role in building last-mile acceptance for proximity payments even among low-income merchant segments. As of 2016, a third of the mobile payments done through WeChat and Alipay combined ($ 7.9 tn.) were using QR codes.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22798\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"ENABLING SMALL MERCHANTS TO USE UPI\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In October 2017, Catalyst implemented a pilot project to assess the suitability of UPI as a payment solution for small retail merchants and test the role of financial incentives in driving adoption and sustained use. The project tested the suitability of two UPI-enabled applications– NPCI’s BHIM UPI and Flipkart’s PhonePe.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Barkat Nagar in Jaipur was chosen for this survey because it is a major mixed-use market that is surrounded by a dense residential colony. It is frequented by a younger demographic that may be more amenable to digital payments adoption. Moreover, there is a fair penetration of prepaid digital wallets among merchants in the market which indicates a certain level of pre-existing digital payment awareness and familiarity.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n\r\nThe pilot campaign was conducted in partnership with NPCI and PhonePe and they provided the data for transactions on the respective platforms. It comprised of the following phases:\r\n\r\n[/vc_column_text][vc_single_image image=\"22742\" img_size=\"full\" alignment=\"center\"][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"GENERATING AWARENESS AND IDENTIFYING LEADS\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n\r\nA 10-day awareness campaign to emphasize the benefits and ease of using QR-based digital payments was conducted in the market cluster using a combination of feet-on-street activities and kiosks that were set up in various locations inside the market, with support from the local market association. Learnings from a prior experiment conducted by Catalyst in the same market suggest that door-to-door marketing campaigns and kiosks across prominent locations in the market prove successful in garnering merchant interest. Moreover, proprietors of small retail businesses are typically strapped for time and manpower, and may find it challenging to step away from the store to participate in awareness campaigns. Drawing on this insight, multiple touch points were used to reach out to small merchants and consumers in the market and its vicinity, with the assumption that these activities would create awareness among a critical mass of people and spur two-sided network effects of payments.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530618633117{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Nearly 40,000 flyers were circulated in Barkat Nagar through newspapers, an additional 15,000 flyers were distributed through kiosks in the market, and 5,000 flyers were distributed by merchants to their customers. To improve the effectiveness of the awareness campaign, the information was packaged and delivered through collaterals in the local language. It consisted of information on steps to use the QR code to make payments, details about the incentive schemes for merchants and consumers (Table 1) and list of shops that would accept payments through the UPI QR code.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner width=\"2/3\"][vc_single_image image=\"22745\" img_size=\"large\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_custom_heading text=\"HANDHOLDING THROUGH ONBOARDING AND ASSISTED USE\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Since the BHIM application and the UPI-based technologies were relatively new in the market at the time, handholding merchants through the onboarding process and assisting them to try the solution at no-cost/ risks formed a key part of the campaign. Merchants who expressed interest in adopting the solution during the outreach campaign were assisted with the onboarding process on BHIM, generation of QR and printouts of QR code stickers. They were also given detailed information regarding the incentive schemes for them as well as consumers and provided with collaterals illustrating steps to pay via QR code.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"ONGOING MONITORING OF USE, NUDGES AND AWARD OF INCENTIVES\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Since mid-October 2017, month on month data on transactions conducted via BHIM UPI has been tracked for the sample of adopters (69).\r\n\r\nData from NPCI suggests that while UPI transactions in India have seen a consistent rise in volume and value in 2017-18, BHIM’s share in UPI transactions has not seen a concomitant increase. Transaction data shared by NPCI for merchants in our sample for November 2017-February 2018 also suggests that while there was significant interest in adoption at the time of the outreach campaign, it did not translate into high adoption rates and sustained use on a month on month basis. On an average, only 14 out of the 69 merchants (about 20%) of BHIM adopters were using it actively. (A merchant was classified as an active user if he/she had conducted more than five digital transactions for at least two of the four months.)[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530690741893{margin-top: -32px !important;}\"][vc_single_image image=\"22752\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_custom_heading text=\"FEEDBACK EXERCISE\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Feedback from merchants in the first month of the campaign suggested that the minimum threshold of 30 transactions in a month, and 20 unique transactions to avail the financial incentives was relatively high. The initial design of the incentives was modified based on this input - the monthly threshold was reduced to 20 transactions and the criterion of unique transactions was relaxed. Based on usage data for November 2017, the first cohort of winners was awarded the financial incentives at a ceremony conducted in January 2018. To understand the potential factors responsible for the low adoption and usage rates, a follow-up survey was conducted through in-depth interviews with a sample of 25 merchants from those who were targeted as part of the outreach campaign for the intervention. The sample for the follow-up dipstick study included 20 merchants who had adopted BHIM QR and five merchants who did not adopt it, for various reasons. The adopters consisted of a combination of active and inactive users. A merchant was classified as an active user if he/she had conducted more than five digital transactions for at least two months during the study. The 20 adopters consisted of six active users, seven users who reported low to moderate transaction levels, and seven non-users (merchants who were on-boarded to the application but did not undertake any transactions).[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22799\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"KEY INSIGHTS\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"DRIVERS FOR ADOPTION AND USE \" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<strong>i.Seamless transfers between accounts</strong>\r\n\r\nMerchants acknowledge the convenience of account-to-account transfer offered by BHIM as against the manual/ lagged credit of payments to their bank accounts in the case of prepaid wallets. This played an important role in encouraging trial and adoption of BHIM in the pilot. Nearly 50% of BHIM adopters interviewed in the feedback exercise found the account-to-account transfer facility as a defining feature of the application. It is important to note that merchant’s frame of reference for digital payments mainly consisted of prepaid wallets such as Paytm which did not have the UPI functionality at the time. Thus, in relation to e-wallets such as Paytm, BHIM UPI and PhonePe offered a more seamless payment experience.\r\n\r\n<strong>ii.Trust </strong>\r\n\r\nThe perception of trust associated with an application endorsed by the Government of India, coupled with the nationwide marketing campaign at the time of launch were motivating factors for adoption as well.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]This trust may be due to an implicit understanding of it being a “safer” means to pay. 10% of the adopters cited this as a reason for adoption/important feature of BHIM.\r\n\r\n<strong>iii.Handholding to on-board </strong>\r\n\r\nFeedback from merchants suggests that the extensive handholding and assistance in carrying out actual transactions played an important role in encouraging them to try the technology. More than 30% of the adopters alluded to this in the survey. While such go-to-market models may be difficult to scale across markets, it is important to acknowledge the need to support assisted use of new technologies and solutions among users who are in the early stages of digital payments use and adoption.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"BARRIERS TO ADOPTION AND SUSTAINED USE\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n\r\nLow merchant acceptance of digital payments remains a barrier to widespread adoption of digital payments at the last-mile – nearly 40 million merchants still do not accept any form of digital payments. In our study as well, while merchants exhibited a fair level of awareness and familiarity with digital payment solutions, their share in overall transaction values is not significant. Our study suggests that merchant adoption is motivated by a combination of factors which include reducing on-boarding frictions, incentives such as cashbacks and rewards, and preferences of transacting counterparties such as customers and suppliers. The qualitative survey conducted as part of the project suggests that the following barriers may have played an important role in influencing merchant’s adoption and subsequent use of BHIM:\r\n\r\n<strong>i.On-boarding frictions</strong>\r\n\r\nThere were some bottlenecks in signing up on the BHIM application, such as:\r\n<ul>\r\n 	<li>After linking the bank accounts with the application, it asks the user to set a UPI PIN. For that the user is required to put in the last 6 digits of the debit card and the expiry date. Because of this, some merchants who did not have a debit card linked to their current accounts could not on-board on BHIM as they did not want to link their savings account to BHIM.</li>\r\n 	<li>Some merchants also encountered issues in the process of getting the OTP to register on the application.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<strong>ii.Stickiness of cash in merchant ecosystem</strong>\r\n\r\nAlthough merchants were using apps like Paytm and BHIM for business purposes, the total value of such transactions did not account for a significant proportion of their business operations. Almost 30% of the 25 merchants interviewed revealed that majority of their transactions were in cash, primary reasons being that customers prefer cash and suppliers also had to be paid in cash. The stickiness of cash is also reflected in a study that Catalyst conducted in collaboration with PRICE. In the study, 55% of the non-adopters of digital payments cited lack of customer demand as one of the primary reasons for non-adoption.\r\n\r\n&nbsp;\r\n\r\n<strong>iii.Weak Incentive Design </strong>\r\n\r\nFinancial incentives such as cashbacks/referral bonuses offered by other applications (like Paytm) in the market were seen as more lucrative by merchants and customers as compared to the incentives on BHIM, as at the time of the study, incentives on BHIM were significantly lower than other applications. The process for availing rewards/cashbacks from referrals is fairly simple in these applications as well. Moreover, they offer customers the flexibility to use the cashbacks and rewards in multiple ways such as utility bill payments, in-app purchase of goods and services or payments at locations like petrol pumps and movie theatres. Additionally, they offer rewards on mobile recharges, bill payments among other payment use-cases.\r\n\r\nThe drawback in the initial incentive scheme has been addressed to an extent with NPCI’s announcement of a revised scheme of incentives for on-boarding and use, in April 2018. This includes a cashback of INR 51 for customers successfully completing their first financial transaction, cashbacks of upto INR 750 for users registered as customers, and cashbacks of upto INR 1,000 for users registered as merchants linked with minimum transaction values and volumes.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<strong>iv. Low awareness and demand for BHIM in merchant ecosystem </strong>\r\n\r\nMerchants also reported lack of awareness among customers and subsequent demand from them to pay via BHIM as an important reason for the low use of BHIM. While the revised incentive schemes for BHIM referrals and cash back mentioned above could give a fillip to transactions, low awareness and adoption among customers remain a barrier to sustained use by merchants.\r\n\r\nThe low demand for BHIM in relation to payment solutions such as e-wallets and other UPI applications may be a function of the first mover advantage that incumbent service providers enjoy in the market. Being early in the market has allowed private payment service providers to establish a wide network of merchants and customers and facilitate easy recall value, which are important determinants of success in a two-sided market like payments. Moreover, entities such as Paytm have invested heavily in online and offline marketing campaigns, which has strengthened brand recall among customers as well as merchants.\r\n\r\n<strong>v. Limited Use Cases </strong>\r\n\r\nThe limited range of use cases of the BHIM application at the time of its launch, as compared to other digital payment offerings in the market is also an influencing factor. Given the competition in the payments ecosystem, providing differentiated features is important for payment service providers to incentivise users to choose one solution over another.\r\n\r\nOur study also reveals that users value such product differentiation significantly. Illustratively, PhonePe and Paytm both have a PPI license and on the one hand allow account-to-account transfer through UPI and on the other, allow the customer to use the PPI balance for making in-app purchases of goods and services from the merchants on-boarded on the platform. Additionally, they provide options to make bill payments and mobile recharges, among other facilities. Until recently, BHIM was primarily a conduit for account-to-account transfer and has been upgraded to include a bill payments feature as well.[/vc_column_text][vc_single_image image=\"22744\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22800\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"RE-IMAGINING BHIM\r\n\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In a move to spur greater adoption of UPI and facilitate recall value among users, all bank-led UPI applications in the market have been rebranded with the prefix ‘BHIM UPI’.15 This implies a change in nomenclature at the front-end of these applications (e.g. BHIM SBI Pay/BHIM Axis Pay), while they continue to operate on the UPI interface. Thus, on one hand, the BHIM application is a platform that enables merchants and customers to make UPI-based payments, and on the other hand, it has been positioned as a larger entity which is synonymous with the UPI interface.\r\n\r\nIn light of these developments in the larger BHIM/UPI ecosystem, and the demand-side constraints in scaling the BHIM application articulated above16, there is a strong case for reimagining BHIM as an ecosystem enabler – beyond its role as a payments application.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]This proposition is based on a combination of factors which suggest that BHIM is uniquely placed to play such a role in the ecosystem. These include the large volumes of transactional data available on the platform which can be opened up to further innovation through secure APIs, promoter NPCI’s organic linkages with banks and complementarities of value added services with payments. We make a case for two ways in which the BHIM ecosystem can be creatively reimagined below.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"BHIM AS AN AGGREGATOR OF FINANCIAL SERVICES\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Presently, 92 banks are live on BHIM and it has recorded 58.16 million transactions in 2018. Further, the BHIM mobile application has been downloaded on 28.9 million devices, meaning that it contains data about consumer and merchant transactions. This data can be accessed by developers (in compliance with best practices to safeguard users’ data privacy), financial services providers and other Fintech companies for building “Over the Top” applications and complimentary products that may be offered within the BHIM app interface. Enabling secure access to data aggregated on BHIM can facilitate innovation by financial institutions, Fintech companies and other stakeholders who can utilise this information to develop customised financial service products.\r\n\r\nThis kind of integration, with BHIM acting as an aggregator for merchant-centric products, can play a role in bridging the credit gaps for the MSME segment. Another potential use-case is for the BHIM app to offer an insurance products marketplace and facilitate access to insurance products to merchants that operate these small businesses.\r\n\r\nUnder the extant regulatory framework, offering insurance aggregator services requires an entity to be licensed by the IRDA. Symmetrically, offering financial products like Mutual Funds requires the entity to retain a distributor license from SEBI. Since NPCI, the promoter and operator of BHIM, is a Section 8 Company incorporated with the objective to set up and implement retail payment systems in the country, the aforementioned proposal will require regulatory concessions from the relevant regulators.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n\r\nGiven the socially beneficial impact of reorienting BHIM as an online marketplace for complimentary financial products, there is a compelling case for the NPCI to partner with the Ministry of Electronics and Information Technology and the Ministry of Finance to work with the concerned regulators to obtain these regulatory concessions. NPCI’s role as the umbrella retail payments organization in India and the fact that it is already a regulated entity under the Reserve Bank of India’s jurisdiction bolsters the case.\r\n\r\nThe potential illustrative workflow of such an offering is:\r\n<ol>\r\n 	<li>In addition to the ‘Send’, ‘Request’ and ‘Scan and Pay’ option, the application Home Page offers a section titled ‘Other Services’</li>\r\n 	<li>Contained within ‘Other Services’ is a “catalog” that offers a host of financial products and services including credit, insurance (even potentially mutual funds).</li>\r\n 	<li>Here the merchant can view, and compare, the products offered by banks, insurance companies and AMCs</li>\r\n 	<li>The merchant can then click through to initiate the purchase of the product/service.</li>\r\n</ol>\r\nPolicy related to small business credit could be amended to create high powered incentives for banks to originate credit from leads generated on the BHIM application. Though these high powered incentives could be delivered through several channels, we suggest a ranking system monitored by a government think-tank like Niti Aayog linked to the volume of credit that banks originate through the leads generated on BHIM.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"MERCHANT SOLUTIONS ON BHIM\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In addition to efforts to popularise BHIM among merchants using cashback schemes, providing value-added services such as a ‘khaata’ feature can enhance its utility to merchants. A ‘khaata’, colloquially, is a ledger kept by businesses to record sale and purchase transactions. With BHIM increasing the convenience in collecting payments for merchants, additional value can be unlocked by incorporating a dashboard for a ‘digital khaata’ in the platform. A “digital khaata” would record the business transactions paid through BHIM as “sales” and “purchase”. This would entail easy reconciliation and more efficient management of business operations. For instance, it may allow merchants to track supplier payments and send payment requests, and get paid seamlessly through the app. This khaata may also be used to undertake customer analytics for the merchants to generate insights on what could drive business for them. Illustratively, insights on sales trends can help the merchant design better sales strategies and map loyal customers. Conversely, purchase trends may yield data which aids the merchants in better inventory management.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]BHIM can also be repurposed as a platform for business to business interaction. Illustratively, a merchant may design and market customised, time bound offerings for its clients via BHIM. Doing this would significantly expedite business communication and allow merchants to instantly accept and pay for such offers.\r\n\r\nA potential target group for the testing of such a solution can be found in India’s vast network of small retail businesses. These businesses enjoy a regular local clientele from neighbouring residential and commercial areas and maintain physical registers. The analytics component of this digital khaata solution can help these small businesses design customer loyalty programs, and keep track of bills and payments due to distributors.\r\n\r\nIt is of importance to acknowledge that this solution may only be applicable to businesses which may not find it feasible to invest in ERP solutions to manage their business operations.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22987\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"TOWARDS AN ECOSYSTEM APPROACH\r\n\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Insights from Catalyst’s small merchant UPI activation project and feedback from ongoing monitoring and evaluation suggest that providing seamless account-to-account transfers alone may not be enough to incentivise widespread adoption and use of the BHIM app. While the revised scheme of incentives for BHIM use now places it at par with the incentives offered by other players in the space, and selected features such as utility bill payments have been added to the application, it continues to face stiff competition from UPI-enabled applications that offer multiple use cases, enjoy first-mover advantage and a strong brand recall. Strategies to promote further adoption and use of the BHIM application need to weigh potential gains in relation to these factors. The focus must instead shift on leveraging the application to test scalable use cases that can spur widespread adoption by merchant and consumers, and create an enabling ecosystem for service providers to innovate.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">TECHNICAL WRITERS:</span> Mandar Kagade, Janak Priyani, Diksha Singh and Raghav Katyal.</p>\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">ACKNOWLEDGEMENTS:</span>The authors would like to thank Kanika Joshi, Darshan Singh and Anil Kumar Pandey for their support in data collection and analysis.</p>\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/07/BHIM-Learning-Note.pdf\" target=\"_blank\" position=\"center\" size=\"lg\" type=\"boxed-icon\" special=\"no\" icon=\"download\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pkirbtn\" icon_custom_background=\"#d11e3c\" icon_custom_text=\"#ffffff\"][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" padding_top=\"50px\" padding_bottom=\"50px\" bg_image=\"7886\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1549448415695{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">[footer_copy]</p>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'Merchant perspectives on the BHIM experience', '', 'publish', 'closed', 'closed', '', 'merchant-perspectives-bhim-experience', '', '', '2019-02-06 10:20:25', '2019-02-06 10:20:25', '', 0, 'http://cashlesscatalyst.org/?page_id=22688', 0, 'page', '', 0);
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(40400, 23, '2019-02-06 10:20:07', '2019-02-06 10:20:07', '[vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"image\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"110\" padding_bottom=\"0\" bg_image=\"22795\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner width=\"2/3\"][vc_custom_heading text=\"MERCHANT PERSPECTIVES ON THE BHIM EXPERIENCE\" font_container=\"tag:h2|font_size:48px|text_align:center|color:%23ffffff|line_height:54px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"140px\"][kleo_gap size=\"50px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1488531456733{padding-right: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1488531444909{padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/07/BHIM-Learning-Note.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"BACKGROUND\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Since its introduction in August 2016, the Unified Payments Interface (UPI) has been a game changer for the digital payments ecosystem in India. The interface allows bank customers to make payments to another bank account on a real-time basis using the Immediate Payment Service (IMPS). The National Payments Corporation of India’s BHIM application, which is based on the UPI interface, was one of the first few UPI applications to gain traction among users. As part of its Digital Payments Lab in Jaipur, Catalyst piloted a merchant-centric UPI awareness and adoption campaign in a market cluster of nearly 400 retail outlets, Barkat Nagar, surrounded by a dense residential locality. The objective of the campaign was to enable merchants to accept payments via UPI-enabled applications at the point of sale, using Quick Response (QR) code stickers. It also endeavoured to test the suitability of the QR-based UPI solution for small merchants, and analyse the role of financial incentives and handholding models as an intervention to boost adoption and use by merchants and customers. [/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530610399307{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]A follow-up survey was conducted four months after the campaign’s launch, to garner feedback from a sample of users as well as non-adopters.\r\n\r\nThis note discusses learnings and insights from Catalyst’s pilot UPI awareness and activation campaign, followed by insights from the feedback survey that was conducted in March 2018. It provides an analytical perspective on the features that work in favour of BHIM, and barriers to its wider adoption and use. From a use perspective, insights suggest that the BHIM application faces stiff competition from other UPI applications and payment platforms in the market. The authors make a case for reorienting BHIM as an ‘ecosystem enabler’ and propose two strategies to this end.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22797\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"BHIM - SETTING THE STAGE FOR A NEW INTERFACE\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The Bharat Interface for Money (BHIM), a mobile application launched by NPCI in 2016, allows users to make account-to-account transfers using the Unified Payments Interface (UPI). Launched by the Government of India on the back of the withdrawal of legal tender of bank notes in denominations of Rs.500 and Rs.1000, BHIM was an integral constituent of the push towards a less cash ecosystem in the country. A nation-wide awareness and marketing campaign conducted at the time of the launch of the application, followed by promotional schemes for merchants and customers, translated into 19 million downloads between December 2016 and March 2017. Moreover, BHIM has been successful in generating mass awareness about a new interface (UPI), and spurring the creation of a UPI app ecosystem with nearly 40 applications in the market today[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]BHIM UPI users have the option to make payments using a virtual payment address (VPA) or by scanning a Quick Response (QR) code. As a form factor, the QR code is easy to use, and offers a user experience that is closer to cash as compared to other payment solutions such as cards. Once the QR code has been generated using the BHIM application, the merchant has to simply display the code at a prominent location in his/her establishment, and the customer can scan and pay on the go. In countries such as China, QR codes are playing an important role in building last-mile acceptance for proximity payments even among low-income merchant segments. As of 2016, a third of the mobile payments done through WeChat and Alipay combined ($ 7.9 tn.) were using QR codes.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22798\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"ENABLING SMALL MERCHANTS TO USE UPI\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In October 2017, Catalyst implemented a pilot project to assess the suitability of UPI as a payment solution for small retail merchants and test the role of financial incentives in driving adoption and sustained use. The project tested the suitability of two UPI-enabled applications– NPCI’s BHIM UPI and Flipkart’s PhonePe.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Barkat Nagar in Jaipur was chosen for this survey because it is a major mixed-use market that is surrounded by a dense residential colony. It is frequented by a younger demographic that may be more amenable to digital payments adoption. Moreover, there is a fair penetration of prepaid digital wallets among merchants in the market which indicates a certain level of pre-existing digital payment awareness and familiarity.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n\r\nThe pilot campaign was conducted in partnership with NPCI and PhonePe and they provided the data for transactions on the respective platforms. It comprised of the following phases:\r\n\r\n[/vc_column_text][vc_single_image image=\"22742\" img_size=\"full\" alignment=\"center\"][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"GENERATING AWARENESS AND IDENTIFYING LEADS\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n\r\nA 10-day awareness campaign to emphasize the benefits and ease of using QR-based digital payments was conducted in the market cluster using a combination of feet-on-street activities and kiosks that were set up in various locations inside the market, with support from the local market association. Learnings from a prior experiment conducted by Catalyst in the same market suggest that door-to-door marketing campaigns and kiosks across prominent locations in the market prove successful in garnering merchant interest. Moreover, proprietors of small retail businesses are typically strapped for time and manpower, and may find it challenging to step away from the store to participate in awareness campaigns. Drawing on this insight, multiple touch points were used to reach out to small merchants and consumers in the market and its vicinity, with the assumption that these activities would create awareness among a critical mass of people and spur two-sided network effects of payments.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530618633117{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Nearly 40,000 flyers were circulated in Barkat Nagar through newspapers, an additional 15,000 flyers were distributed through kiosks in the market, and 5,000 flyers were distributed by merchants to their customers. To improve the effectiveness of the awareness campaign, the information was packaged and delivered through collaterals in the local language. It consisted of information on steps to use the QR code to make payments, details about the incentive schemes for merchants and consumers (Table 1) and list of shops that would accept payments through the UPI QR code.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner width=\"2/3\"][vc_single_image image=\"22745\" img_size=\"large\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_custom_heading text=\"HANDHOLDING THROUGH ONBOARDING AND ASSISTED USE\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Since the BHIM application and the UPI-based technologies were relatively new in the market at the time, handholding merchants through the onboarding process and assisting them to try the solution at no-cost/ risks formed a key part of the campaign. Merchants who expressed interest in adopting the solution during the outreach campaign were assisted with the onboarding process on BHIM, generation of QR and printouts of QR code stickers. They were also given detailed information regarding the incentive schemes for them as well as consumers and provided with collaterals illustrating steps to pay via QR code.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"ONGOING MONITORING OF USE, NUDGES AND AWARD OF INCENTIVES\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Since mid-October 2017, month on month data on transactions conducted via BHIM UPI has been tracked for the sample of adopters (69).\r\n\r\nData from NPCI suggests that while UPI transactions in India have seen a consistent rise in volume and value in 2017-18, BHIM’s share in UPI transactions has not seen a concomitant increase. Transaction data shared by NPCI for merchants in our sample for November 2017-February 2018 also suggests that while there was significant interest in adoption at the time of the outreach campaign, it did not translate into high adoption rates and sustained use on a month on month basis. On an average, only 14 out of the 69 merchants (about 20%) of BHIM adopters were using it actively. (A merchant was classified as an active user if he/she had conducted more than five digital transactions for at least two of the four months.)[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530690741893{margin-top: -32px !important;}\"][vc_single_image image=\"22752\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_custom_heading text=\"FEEDBACK EXERCISE\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Feedback from merchants in the first month of the campaign suggested that the minimum threshold of 30 transactions in a month, and 20 unique transactions to avail the financial incentives was relatively high. The initial design of the incentives was modified based on this input - the monthly threshold was reduced to 20 transactions and the criterion of unique transactions was relaxed. Based on usage data for November 2017, the first cohort of winners was awarded the financial incentives at a ceremony conducted in January 2018. To understand the potential factors responsible for the low adoption and usage rates, a follow-up survey was conducted through in-depth interviews with a sample of 25 merchants from those who were targeted as part of the outreach campaign for the intervention. The sample for the follow-up dipstick study included 20 merchants who had adopted BHIM QR and five merchants who did not adopt it, for various reasons. The adopters consisted of a combination of active and inactive users. A merchant was classified as an active user if he/she had conducted more than five digital transactions for at least two months during the study. The 20 adopters consisted of six active users, seven users who reported low to moderate transaction levels, and seven non-users (merchants who were on-boarded to the application but did not undertake any transactions).[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22799\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"KEY INSIGHTS\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"DRIVERS FOR ADOPTION AND USE \" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<strong>i.Seamless transfers between accounts</strong>\r\n\r\nMerchants acknowledge the convenience of account-to-account transfer offered by BHIM as against the manual/ lagged credit of payments to their bank accounts in the case of prepaid wallets. This played an important role in encouraging trial and adoption of BHIM in the pilot. Nearly 50% of BHIM adopters interviewed in the feedback exercise found the account-to-account transfer facility as a defining feature of the application. It is important to note that merchant’s frame of reference for digital payments mainly consisted of prepaid wallets such as Paytm which did not have the UPI functionality at the time. Thus, in relation to e-wallets such as Paytm, BHIM UPI and PhonePe offered a more seamless payment experience.\r\n\r\n<strong>ii.Trust </strong>\r\n\r\nThe perception of trust associated with an application endorsed by the Government of India, coupled with the nationwide marketing campaign at the time of launch were motivating factors for adoption as well.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]This trust may be due to an implicit understanding of it being a “safer” means to pay. 10% of the adopters cited this as a reason for adoption/important feature of BHIM.\r\n\r\n<strong>iii.Handholding to on-board </strong>\r\n\r\nFeedback from merchants suggests that the extensive handholding and assistance in carrying out actual transactions played an important role in encouraging them to try the technology. More than 30% of the adopters alluded to this in the survey. While such go-to-market models may be difficult to scale across markets, it is important to acknowledge the need to support assisted use of new technologies and solutions among users who are in the early stages of digital payments use and adoption.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"BARRIERS TO ADOPTION AND SUSTAINED USE\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n\r\nLow merchant acceptance of digital payments remains a barrier to widespread adoption of digital payments at the last-mile – nearly 40 million merchants still do not accept any form of digital payments. In our study as well, while merchants exhibited a fair level of awareness and familiarity with digital payment solutions, their share in overall transaction values is not significant. Our study suggests that merchant adoption is motivated by a combination of factors which include reducing on-boarding frictions, incentives such as cashbacks and rewards, and preferences of transacting counterparties such as customers and suppliers. The qualitative survey conducted as part of the project suggests that the following barriers may have played an important role in influencing merchant’s adoption and subsequent use of BHIM:\r\n\r\n<strong>i.On-boarding frictions</strong>\r\n\r\nThere were some bottlenecks in signing up on the BHIM application, such as:\r\n<ul>\r\n 	<li>After linking the bank accounts with the application, it asks the user to set a UPI PIN. For that the user is required to put in the last 6 digits of the debit card and the expiry date. Because of this, some merchants who did not have a debit card linked to their current accounts could not on-board on BHIM as they did not want to link their savings account to BHIM.</li>\r\n 	<li>Some merchants also encountered issues in the process of getting the OTP to register on the application.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<strong>ii.Stickiness of cash in merchant ecosystem</strong>\r\n\r\nAlthough merchants were using apps like Paytm and BHIM for business purposes, the total value of such transactions did not account for a significant proportion of their business operations. Almost 30% of the 25 merchants interviewed revealed that majority of their transactions were in cash, primary reasons being that customers prefer cash and suppliers also had to be paid in cash. The stickiness of cash is also reflected in a study that Catalyst conducted in collaboration with PRICE. In the study, 55% of the non-adopters of digital payments cited lack of customer demand as one of the primary reasons for non-adoption.\r\n\r\n&nbsp;\r\n\r\n<strong>iii.Weak Incentive Design </strong>\r\n\r\nFinancial incentives such as cashbacks/referral bonuses offered by other applications (like Paytm) in the market were seen as more lucrative by merchants and customers as compared to the incentives on BHIM, as at the time of the study, incentives on BHIM were significantly lower than other applications. The process for availing rewards/cashbacks from referrals is fairly simple in these applications as well. Moreover, they offer customers the flexibility to use the cashbacks and rewards in multiple ways such as utility bill payments, in-app purchase of goods and services or payments at locations like petrol pumps and movie theatres. Additionally, they offer rewards on mobile recharges, bill payments among other payment use-cases.\r\n\r\nThe drawback in the initial incentive scheme has been addressed to an extent with NPCI’s announcement of a revised scheme of incentives for on-boarding and use, in April 2018. This includes a cashback of INR 51 for customers successfully completing their first financial transaction, cashbacks of upto INR 750 for users registered as customers, and cashbacks of upto INR 1,000 for users registered as merchants linked with minimum transaction values and volumes.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<strong>iv. Low awareness and demand for BHIM in merchant ecosystem </strong>\r\n\r\nMerchants also reported lack of awareness among customers and subsequent demand from them to pay via BHIM as an important reason for the low use of BHIM. While the revised incentive schemes for BHIM referrals and cash back mentioned above could give a fillip to transactions, low awareness and adoption among customers remain a barrier to sustained use by merchants.\r\n\r\nThe low demand for BHIM in relation to payment solutions such as e-wallets and other UPI applications may be a function of the first mover advantage that incumbent service providers enjoy in the market. Being early in the market has allowed private payment service providers to establish a wide network of merchants and customers and facilitate easy recall value, which are important determinants of success in a two-sided market like payments. Moreover, entities such as Paytm have invested heavily in online and offline marketing campaigns, which has strengthened brand recall among customers as well as merchants.\r\n\r\n<strong>v. Limited Use Cases </strong>\r\n\r\nThe limited range of use cases of the BHIM application at the time of its launch, as compared to other digital payment offerings in the market is also an influencing factor. Given the competition in the payments ecosystem, providing differentiated features is important for payment service providers to incentivise users to choose one solution over another.\r\n\r\nOur study also reveals that users value such product differentiation significantly. Illustratively, PhonePe and Paytm both have a PPI license and on the one hand allow account-to-account transfer through UPI and on the other, allow the customer to use the PPI balance for making in-app purchases of goods and services from the merchants on-boarded on the platform. Additionally, they provide options to make bill payments and mobile recharges, among other facilities. Until recently, BHIM was primarily a conduit for account-to-account transfer and has been upgraded to include a bill payments feature as well.[/vc_column_text][vc_single_image image=\"22744\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22800\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"RE-IMAGINING BHIM\r\n\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In a move to spur greater adoption of UPI and facilitate recall value among users, all bank-led UPI applications in the market have been rebranded with the prefix ‘BHIM UPI’.15 This implies a change in nomenclature at the front-end of these applications (e.g. BHIM SBI Pay/BHIM Axis Pay), while they continue to operate on the UPI interface. Thus, on one hand, the BHIM application is a platform that enables merchants and customers to make UPI-based payments, and on the other hand, it has been positioned as a larger entity which is synonymous with the UPI interface.\r\n\r\nIn light of these developments in the larger BHIM/UPI ecosystem, and the demand-side constraints in scaling the BHIM application articulated above16, there is a strong case for reimagining BHIM as an ecosystem enabler – beyond its role as a payments application.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]This proposition is based on a combination of factors which suggest that BHIM is uniquely placed to play such a role in the ecosystem. These include the large volumes of transactional data available on the platform which can be opened up to further innovation through secure APIs, promoter NPCI’s organic linkages with banks and complementarities of value added services with payments. We make a case for two ways in which the BHIM ecosystem can be creatively reimagined below.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"BHIM AS AN AGGREGATOR OF FINANCIAL SERVICES\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Presently, 92 banks are live on BHIM and it has recorded 58.16 million transactions in 2018. Further, the BHIM mobile application has been downloaded on 28.9 million devices, meaning that it contains data about consumer and merchant transactions. This data can be accessed by developers (in compliance with best practices to safeguard users’ data privacy), financial services providers and other Fintech companies for building “Over the Top” applications and complimentary products that may be offered within the BHIM app interface. Enabling secure access to data aggregated on BHIM can facilitate innovation by financial institutions, Fintech companies and other stakeholders who can utilise this information to develop customised financial service products.\r\n\r\nThis kind of integration, with BHIM acting as an aggregator for merchant-centric products, can play a role in bridging the credit gaps for the MSME segment. Another potential use-case is for the BHIM app to offer an insurance products marketplace and facilitate access to insurance products to merchants that operate these small businesses.\r\n\r\nUnder the extant regulatory framework, offering insurance aggregator services requires an entity to be licensed by the IRDA. Symmetrically, offering financial products like Mutual Funds requires the entity to retain a distributor license from SEBI. Since NPCI, the promoter and operator of BHIM, is a Section 8 Company incorporated with the objective to set up and implement retail payment systems in the country, the aforementioned proposal will require regulatory concessions from the relevant regulators.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n\r\nGiven the socially beneficial impact of reorienting BHIM as an online marketplace for complimentary financial products, there is a compelling case for the NPCI to partner with the Ministry of Electronics and Information Technology and the Ministry of Finance to work with the concerned regulators to obtain these regulatory concessions. NPCI’s role as the umbrella retail payments organization in India and the fact that it is already a regulated entity under the Reserve Bank of India’s jurisdiction bolsters the case.\r\n\r\nThe potential illustrative workflow of such an offering is:\r\n<ol>\r\n 	<li>In addition to the ‘Send’, ‘Request’ and ‘Scan and Pay’ option, the application Home Page offers a section titled ‘Other Services’</li>\r\n 	<li>Contained within ‘Other Services’ is a “catalog” that offers a host of financial products and services including credit, insurance (even potentially mutual funds).</li>\r\n 	<li>Here the merchant can view, and compare, the products offered by banks, insurance companies and AMCs</li>\r\n 	<li>The merchant can then click through to initiate the purchase of the product/service.</li>\r\n</ol>\r\nPolicy related to small business credit could be amended to create high powered incentives for banks to originate credit from leads generated on the BHIM application. Though these high powered incentives could be delivered through several channels, we suggest a ranking system monitored by a government think-tank like Niti Aayog linked to the volume of credit that banks originate through the leads generated on BHIM.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"MERCHANT SOLUTIONS ON BHIM\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In addition to efforts to popularise BHIM among merchants using cashback schemes, providing value-added services such as a ‘khaata’ feature can enhance its utility to merchants. A ‘khaata’, colloquially, is a ledger kept by businesses to record sale and purchase transactions. With BHIM increasing the convenience in collecting payments for merchants, additional value can be unlocked by incorporating a dashboard for a ‘digital khaata’ in the platform. A “digital khaata” would record the business transactions paid through BHIM as “sales” and “purchase”. This would entail easy reconciliation and more efficient management of business operations. For instance, it may allow merchants to track supplier payments and send payment requests, and get paid seamlessly through the app. This khaata may also be used to undertake customer analytics for the merchants to generate insights on what could drive business for them. Illustratively, insights on sales trends can help the merchant design better sales strategies and map loyal customers. Conversely, purchase trends may yield data which aids the merchants in better inventory management.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]BHIM can also be repurposed as a platform for business to business interaction. Illustratively, a merchant may design and market customised, time bound offerings for its clients via BHIM. Doing this would significantly expedite business communication and allow merchants to instantly accept and pay for such offers.\r\n\r\nA potential target group for the testing of such a solution can be found in India’s vast network of small retail businesses. These businesses enjoy a regular local clientele from neighbouring residential and commercial areas and maintain physical registers. The analytics component of this digital khaata solution can help these small businesses design customer loyalty programs, and keep track of bills and payments due to distributors.\r\n\r\nIt is of importance to acknowledge that this solution may only be applicable to businesses which may not find it feasible to invest in ERP solutions to manage their business operations.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22987\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"TOWARDS AN ECOSYSTEM APPROACH\r\n\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Insights from Catalyst’s small merchant UPI activation project and feedback from ongoing monitoring and evaluation suggest that providing seamless account-to-account transfers alone may not be enough to incentivise widespread adoption and use of the BHIM app. While the revised scheme of incentives for BHIM use now places it at par with the incentives offered by other players in the space, and selected features such as utility bill payments have been added to the application, it continues to face stiff competition from UPI-enabled applications that offer multiple use cases, enjoy first-mover advantage and a strong brand recall. Strategies to promote further adoption and use of the BHIM application need to weigh potential gains in relation to these factors. The focus must instead shift on leveraging the application to test scalable use cases that can spur widespread adoption by merchant and consumers, and create an enabling ecosystem for service providers to innovate.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">TECHNICAL WRITERS:</span> Mandar Kagade, Janak Priyani, Diksha Singh and Raghav Katyal.</p>\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">ACKNOWLEDGEMENTS:</span>The authors would like to thank Kanika Joshi, Darshan Singh and Anil Kumar Pandey for their support in data collection and analysis.</p>\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/07/BHIM-Learning-Note.pdf\" target=\"_blank\" position=\"center\" size=\"lg\" type=\"boxed-icon\" special=\"no\" icon=\"download\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pkirbtn\" icon_custom_background=\"#d11e3c\" icon_custom_text=\"#ffffff\"][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" padding_top=\"50px\" padding_bottom=\"50px\" bg_image=\"7886\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1549448402678{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">[footer_copy]</p>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'Merchant perspectives on the BHIM experience', '', 'inherit', 'closed', 'closed', '', '22688-revision-v1', '', '', '2019-02-06 10:20:07', '2019-02-06 10:20:07', '', 22688, 'https://cashlesscatalyst.org/media/22688-revision-v1/', 0, 'revision', '', 0),
(41081, 0, '2019-04-01 05:37:46', '2019-04-01 05:37:46', 'A new comment on the post \"The view from 10 months in..\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/catalyst-blog/view-10-months-in/\r\n\r\nAuthor: Debralek (IP: 79.173.83.153, nat-79-173-83-153.gtn.ru)\r\nEmail: meisicompha@mail.ru\r\nURL: \r\nComment: \r\nThe greatest discounts in history for you and your loved ones now on all the goods - AliExpress... \r\nhttp://5qvwp.tk\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12087#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12087#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12087#wpbody-content\r\nCurrently 148 comments are waiting for approval. Please visit the moderation panel:\r\nhttps://cashlesscatalyst.org/wp-admin/edit-comments.php?comment_status=moderated#wpbody-content\r\n', '[Catalyst] Please moderate: \"The view from 10 months in..\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-the-view-from-10-months-in-89', '', '', '2019-04-01 05:37:46', '2019-04-01 05:37:46', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-89/', 0, 'postman_sent_mail', '', 0),
(41028, 0, '2019-03-25 17:53:22', '2019-03-25 17:53:22', '\n\n\n<title>Form Fill from Catalyst Website</title>\n\n\n<p>From: Shivam Maheshwari <br />\nSubject: Form Fill from Catalyst Website</p>\n<p>Hi,</p>\n<p>Some cool, awesome person has filled out a form on the Catalyst website. Please take a look at the details filled out. </p>\n<p>Name: Shivam Maheshwari<br />\nOrganization: Delhi Technological University<br />\nEmail: shivammaheshwari_bt2k16@dtu.ac.in<br />\nPhone No.: 09958180857<br />\nMessage: Dear Mr. Badal Malick,</p>\n<p>The Accounting Skills and Stock Exchange Training Society (ASSETS) of Delhi Technological University is organizing its annual finance and economic fiesta, Fortune&#039;19, slated to be held on 10th and 11th of April in Delhi Technological University. We are pleased to invite you to its event &#039;Ignited Minds&#039; as our guest lecturer.</p>\n<p>We are sure that your expertise and experience in your field will be an excellent addition to our fiesta. It will have a resonating effect on the young minds and will further our objective to contribute towards &quot;Building a Better Tomorrow&quot; which is our theme for the event. We would really like to hear and learn from you.</p>\n<p>Please find attached a formal proposal for FORTUNE 2019 and other relevant details<br />\nFile: Fortune19-Speaker-Proposal-.pdf</p>\n<p>--<br />\nHave an awesome day.<br />\nThe ghost in the system..</p>\n<p>This e-mail was sent from a contact form on Catalyst (https://cashlesscatalyst.org)</p>\n\n', 'Form Fill from Catalyst Website', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'form-fill-from-catalyst-website-18', '', '', '2019-03-25 17:53:22', '2019-03-25 17:53:22', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/form-fill-from-catalyst-website-18/', 0, 'postman_sent_mail', '', 0),
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(13672, 13, '2018-05-07 13:51:28', '2018-05-07 13:51:28', '[vc_row full_height=\"yes\" equal_height=\"yes\" content_placement=\"middle\" text_align=\"center\" type=\"image\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"110\" padding_bottom=\"0\" bg_image=\"13685\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner el_class=\"uppercase\" width=\"2/3\"][vc_custom_heading text=\"PayBee… lets buzz payments \" font_container=\"tag:h2|font_size:48px|text_align:center|color:%23ffffff|line_height:54px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"130px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\" css=\".vc_custom_1504265033147{padding-right: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265063058{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265782417{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/05/Paybee_Story-1.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"13677\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1525701033202{padding-top: 17px !important;}\"][/vc_column_inner][vc_column_inner width=\"3/4\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]The Incubation Program at Catalyst is supporting fin-techs for the last mile. As the name suggests, the aim of the program is to fully focus on testing various innovative digital payment solutions for last mile consumers. We believe that in order to move towards a digital payment ecosystem, the entire value chain needs to be looked at through a targeted ecosystem approach. In our aim to support and reach every segment, we host PayBee as one out of five incubatees.\r\n\r\nPayBee is a UPI based payments platform which digitizes B2B payments and aims at making business payments easy, hassle-free and completely digitized. Their vision is to completely digitize the whole B2B invoice and payments cycle across all verticals in the market and are currently working in dairy, FMCG and pharma.\r\n\r\nWith over 15 years of work experience in the financial services industry, IIM-Ahmedabad alumnus, IIT-Madras researcher and CEO of PayBee, Murali believes that there is a tremendous opportunity for digital payments landscape in India, with over 70% of current business transactions being done in cash and around the same percentage of businesses being in the unorganized sector. He also foresees that “Operating a payments start-up in the B2B setup is a challenge. Unlike in the case of B2C purchases which are driven by impulse  and are across the counter, B2B purchases are pre-planned, invariably on credit, and paid for in parts. This is a completely different behavior that brings in its own complexity.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"13686\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"13678\" alignment=\"center\"][vc_custom_heading text=\"Every trade has unique and different needs\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23ffffff|line_height:46px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1525700382722{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]PayBee is a single app where the retailer is able to track all payments which have been made or are scheduled for the distributors a retailer is dealing with. Navya, Area Sales Manager, elaborates “A retailer can make his payments to the distributor at any hour of the day, any day of the week and from any place where he is using PayBee”.\r\n\r\nVikas, 29, a Saras Milk booth retailer felt scared to use digital payments. He explains “All the adjacent shops use cash and I was not very comfortable with technology. With PayBee’s representatives, this was the first time I adopted a digital payment system.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]Cash handling was always very difficult and my transactions with the distributor have become so convenient now!” He has now done over 10 transactions with PayBee and despite the fear, he feels that soon enough the entire market will go digital.\r\n\r\nSimilarly, another customer of PayBee, Abhishek, 45, who has been heading a pharmacy store for 18 years, has several suppliers. He says, “Digital is very good and safe if the transaction happens on time. I adopted PayBee to negate the problem of checque-bounce and to make timely payments. I would like for them to expand into B2C as well.”[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"13687\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"13679\" alignment=\"center\"][vc_custom_heading text=\"PayBee helping in improving hygiene of the trade \" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23ffffff|line_height:46px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1525700410725{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]Mr. Nimit Kasiwal from TARA Medicos. Pvt. Ltd, a leading pharmaceutical distributor in Rajasthan was the first one to adopt PayBee. He said “Transactions in pharmaceuticals are governed by the market and we cannot influence that change. While all our transactions were done in cash, now the percentage of bank transactions are increasing but not at the pace we want. I think cashless payments improve hygiene of the trade by making it more efficient, transparent and at the same time contributes to formalizing the economy.”[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_video link=\"https://www.youtube.com/watch?v=UOjszwnqUE8\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"13688\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"13680\" alignment=\"center\"][vc_custom_heading text=\"Whilst digitization is key for payments, adoption is a necessary condition\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23ffffff|line_height:46px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1525700438970{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: left;\">On being asked how is adoption of PayBee beneficial to you? He answered “Adopting PayBee reduces our time to collect the cash/cheques from the retailers and in depositing them in our bank accounts as the payments are now credited to our account instantaneously. It also reduces the work force to be sent to each and every retailer for payment collection and infidelity on their part. Getting on board with PayBee helps in cutting down the cashhandling charges and reduces the transit time of cash.”</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: left;\">PayBee provides customer based services by leveraging their understanding of their customers’ financial lifestyle, business and needs far better than any other players in this field. Navya feels “In the Pink City, the payment culture is still cash sticky and several retailers see digital payments/transactions with suspicion. In order to increase our reach and enrolments, we hope to address major challenges in banking faced by the retailer. We are enabling our retailer to be digitized with support of our sales team in approaching the banks, completing the formalities and following up on all banking issues.”</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: left;\">Along with these, Murali says that profoundly pushing the digital payments and creating trust via marketing outreach activities will help. “Our team works in educating the retailer and building trust towards digital among the retailers by giving them demonstrations and telling them about various security protocols that are being followed by PayBee and by NPCI to avert any frauds they may have heard of. We are also expanding to C2B to enable the digital payments throughout the ecosystem.”</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][kleo_divider][/vc_column][/vc_row][vc_row][vc_column][kleo_button title=\"Download\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/05/Paybee_Story-1.pdf\" target=\"_blank\" position=\"center\" size=\"lg\" type=\"boxed-icon\" special=\"no\" icon=\"download\" font_size=\"14\" letter_spacing=\"\" el_class=\"pkirbtn\" icon_custom_background=\"#d11e3c\" icon_custom_text=\"#ffffff\"][/vc_column][/vc_row]', 'PayBee…lets buzz payments', '', 'publish', 'closed', 'closed', '', 'paybee-lets-buzz-payments', '', '', '2018-11-15 07:41:24', '2018-11-15 07:41:24', '', 0, 'http://cashlesscatalyst.org/?page_id=13672', 0, 'page', '', 0),
(15315, 17, '2018-06-07 13:27:42', '2018-06-07 13:27:42', '[vc_row full_height=\"yes\" equal_height=\"yes\" content_placement=\"middle\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"110\" padding_bottom=\"0\" bg_image=\"15326\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner][vc_custom_heading text=\"WHATï¿½S COOKING IN OUR DIGITAL PAYMENTS LAB?\" font_container=\"tag:h2|font_size:48px|text_align:center|color:%23ffffff|line_height:54px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"130px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\" css=\".vc_custom_1504265033147{padding-right: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265063058{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265782417{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/06/What-Cooking-in-our-Digital-Payments-Lab.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"10\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]Catalyst, along with its partners, is creating a digital ecosystem by combining and coordinating different use-cases and business models facing small businesses, suppliers and retail consumers. Our focus is to understand how digital payments enable small businesses achieve real and tangible goals, including access to financing and other financial services to grow their business, protection against shocks and business volatility, and more streamlined operations. What follows are three use-cases we have tackled to move the needle in mass digital payment adoption.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_custom_heading text=\"Digitizing Payments at e-Mitra\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][vc_custom_heading text=\"Scope\" font_container=\"tag:h4|font_size:21px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]e-Mitra is a consumer service point wherein 350+ G2C and B2C services <div style=\"display:none\"><a href=\"https://www.fortunecantonese.co.uk/modul/\" title=\"Levitra ES (Vardenafil)\">Levitra ES (Vardenafil)</a></div> are provided to consumers, with utility bill payment services as the most widely used transaction type. e-Mitras are run by individual entrepreneurs, often as an add on to their core business (e.g., a photocopying service or general kirana store). Almost 30% population of Jaipur transacts at ~5000 e-Mitra centers, of which 500 (our target segment) channel 80% of transaction volume. Currently, 98% of transactions are cash-based. Merchants have to fund a prepaid wallet to support these cash transactions, and often have to make frequent trips to the bank to maintain this working capital. While digital solutions have been made available, they come with a convenience charge which merchants and consumers (when passed on to them) reject outright.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]As part of this initiative, Catalyst is testing Card and UPI based payments for e-Mitra retail transactions. The strategy is to introduce these payment modes at low or no cost, sharply communicate the user value proposition, create incentives to clock digital payments as part of existing revenue sharing formulas, and further explore hand-holding models to assist merchants and create a few digital transactions to initiate trial and demonstrate potential value.\r\n\r\nThe overall objectives are to increase digital payment penetration among users of e-Mitra, understand the impact on the e-Mitra business model, and build a case for more institutional support by Government of Rajasthan that can be scaled across the State wide network of 55,000 e-Mitras.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_separator el_width=\"30\" css=\".vc_custom_1528385545649{margin-top: 30px !important;}\"][vc_custom_heading text=\"Learnings\" font_container=\"tag:h4|font_size:21px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_single_image image=\"15339\" img_size=\"full\"][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]We have established some key learnings based on smaller scale experiments across a limited learning set of roughly 25 e-Mitras. First, subsidized POS machines were able to digitize 8% of transaction volume and 14% of total value in a span of three months. Second, we found that while benefits are understood by e-Mitra owners, they donï¿½t feel strongly enough to nudge customers.\r\n\r\nLack of ï¿½trustï¿½ in digital payment solutions has been indicated by many entrepreneurs as the reason why people do not prefer paying digitally. An important driver for usage of digital seems to be the amount transacted. This is reflected in the proportion of card payments for electricity bills being higher (12%) as compared to water and mobile bills (5%). Also, we found that, once converted, consumers are more likely to use digital for smaller amounts.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_separator el_width=\"30\" css=\".vc_custom_1528385554569{margin-top: 30px !important;}\"][vc_custom_heading text=\"Way forward\" font_container=\"tag:h4|font_size:21px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]During the last few months, UPI has been integrated into the Rajasthan Payment Portal (RPP) and is available as a payment mode across all e-Mitras in Rajasthan. The uptake of UPI however is currently low. Catalyst is now embarking on a ï¿½try UPI at no costï¿½ campaign with strategic communication, hand-holding, and targeted usage-based incentives for both merchants and consumers alike.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1521203333411{padding-top: 30px !important;padding-bottom: 30px !important;}\"][vc_column_inner][vc_separator color=\"custom\" accent_color=\"#626262\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"10\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"Digitizing Payments in the Dairy Supply Chain\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][vc_custom_heading text=\"Scope\" font_container=\"tag:h4|font_size:21px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]A very large section of the population visits dairy outlets daily for purchasing milk and milk products. Buying milk is one of the unique use cases which not only touches all strata and sections of the society, but is a common and frequent payment transaction. The entire payment cycle from customer to retailer to distributor is a daily affair and currently entirely cash-based. This provides for huge opportunity to digitize the dairy forward supply chain. This has potential to drive large-scale adoption of digital payments by consumers and subsequent behaviour change because of the repetitive nature of payments.\r\n\r\nCatalyst is working with Jaipur Dairy (Saras), which <div style=\"display:none\"><a href=\"https://themoxiedesign.com/themox/\" title=\"buy Cialis 5mg\">buy Cialis 5mg</a></div> organizes around 80% of total milk supply in Jaipur and has an extensive institutional outreach of 750 branded booths and 4,000 shops supplied through a network of 62 distributors. The annual transaction volume of the payments from booth to distributor is roughly around Rs. 1,000 crore. Additionally, Saras Dairy has a similar institutional set up in each district of Rajasthan, which provides for large-scale replication.\r\n\r\nGovernment of Rajasthan as part of their mandate to promote digital payments across institutional channels have mandated the Jaipur Dairy to target 50% digitization of their overall transaction volume.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Catalyst is assisting Jaipur Dairy to identify and test appropriate payment solutions, and identify business models to digitize B2B and B2C payments.\r\n\r\nOur work has focused on finding a viable solution framework for B2B and C2B payments as per the business needs, and to bring potential solution partners on board to develop proof of concepts. In collaboration with these solution partners, our team has then focused on validating solution features, value-add services, feasible cost-of-ownership and operational efficiency improvement, for the stakeholders involved. We have kicked off work on the B2B interface with Paybee, a B2B payments platform inducted into our ï¿½Fintech for the Last Mileï¿½ incubator, and recruited four dairy distributors to engage with. Distributors typically deal with large volumes but earn razor thin margins to the tune of 1.4%. Given this, their avoidable ï¿½cost of cashï¿½ can be significant at 20%, not including additional reconciliation issues. In addition, there are safety and psychological costs associated with theft and crime that create demand for digital collections.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_separator el_width=\"30\" css=\".vc_custom_1528385566456{margin-top: 30px !important;}\"][vc_custom_heading text=\"Key Learnings\" font_container=\"tag:h4|font_size:21px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"1/2\"][vc_single_image image=\"15346\" img_size=\"full\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]In the initial pilot, 70 plus retailers have adopted the solution, out of which 30 plus are fully onboarded, and 13 plus retailers are paying through the app without needing cash collection. 55% of nearly 1,600 invoices generated on the platform till date have been paid digitally by retail counterparties. The initial traction for the solution comes from retailers that make payments through bank transfers or cheques. Also, the distributorï¿½s push for adoption is important and plays a positive role in retailer-level decisions. Retailers are guided through the first 1-2 payments being made.ï¿½Those paying through the app usually pay regularly with very few needing a reminder call. Thus, once on-boarded and agreeing to pay, they do not require daily visits. Few retailers are also keen to try out the UPI solution to accept payments from consumers who pay using Paytm and other apps.\r\n\r\nCustomer cash collections has emerged as a relevant pain point for dairy retailers as they need to deposit these monies in a bank account to pay their distributors digitally. To address this, Paybee has partnered with Karur Vysya Bank and is now exploring a partnership with another one of our selected startups, PayNearby, to digitize cash at the booth level.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_separator el_width=\"30\" css=\".vc_custom_1528385574914{margin-top: 30px !important;}\"][vc_custom_heading text=\"Way forward\" font_container=\"tag:h4|font_size:21px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]It is important to digitize the boothï¿½s cash inflows from consumers as well to complete the digitization of the entire supply chain. Dairy retail sales are characterized by razor thin margins (roughly 3%) and high transaction velocity during peak periods, and therefore require appropriate solutions that are low on cost as well as transaction time.ï¿½ Catalystï¿½s next goal is to test C2B solutions such as UPI QR codes, Aadhaar Pay, and app-based closed-loop solutions across different retailer pools.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1521203333411{padding-top: 30px !important;padding-bottom: 30px !important;}\"][vc_column_inner][vc_separator color=\"custom\" accent_color=\"#626262\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"10\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"Building Digital Finance Models in an Urban Slum\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][vc_custom_heading text=\"Scope\" font_container=\"tag:h4|font_size:21px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Bhatta Basti is a low-income cluster situated in the locality of Shastri Nagar in Jaipur. It is a migrant settlement with an estimated population of over 10,000 households and over 45,000 inhabitants. Residents in the region are mainly engaged in wage labour, micro home-based manufacturing activities, or own petty shops.\r\n\r\nIn Bhatta Basti, Catalyst is experimenting with a structured digital finance user journey.ï¿½The first stage entails influencing the community to open or transfer bank <div style=\"display:none\"><a href=\"https://www.bestkebabheybridge.co.uk/best/\" title=\"Levitra 20mg\">Levitra 20mg</a></div> accounts to local <em>Bank Mitras</em>, banking service points set up within the community through FIA, our solution partner, and subsequently promoting more ï¿½active bankingï¿½ in the form of withdrawals, deposits, receipt of eligible Government benefits, and use of savings products.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Post this, households are encouraged to digitize cash outflows and inflows for greater efficiency and convenience, and eventually diversify across other digital financial services ranging from goal-based savings (Kaleidofin), digital chit funds (Kyepot), digital credit and the like. Catalyst has partnered with SEWA Bharat to build awareness and capacity for sustainable behaviour change across these phases, especially among women in the households, through youth ambassadors or <em>SEWA Saathis</em>.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_separator el_width=\"30\" css=\".vc_custom_1528385584456{margin-top: 30px !important;}\"][vc_custom_heading text=\"Key Learnings\" font_container=\"tag:h4|font_size:21px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]For a few months earlier this year, UIDAI level system changes made it infeasible for new bank accounts to be opened across the BC network. This further affected the business and morale of these fledgling local BC agent entrepreneurs, highlighting the criticality of reliable public infrastructure.\r\n\r\nAs of today, over 700 new accounts have been opened across 2 bank mitras that are operational in Bhatta Basti.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]There has also been 75% drop-off in conversion of leads collected by SEWA in the community mainly due to ineffectiveness of Aadhaar as a means of identity verification, demand for opening childrenï¿½s bank accounts, and certain misconceptions around account terms.\r\n\r\nAs part of awareness promotion, bank opening camps, miking campaigns and financial literacy camps are conducted every week. Some of the insights that have surfaced include low levels of trust in digital payment mechanisms.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_separator el_width=\"30\" css=\".vc_custom_1528385592115{margin-top: 30px !important;}\"][vc_custom_heading text=\"Way forward\" font_container=\"tag:h4|font_size:21px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][kleo_gap][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]There is significant scope to optimize the value proposition offered by these local <em>bank mitras</em> especially as compared to traditional branch experiences (e.g., flexible timings, more personalized customer service, etc.). There is also opportunity to harmonize this proposition across different customer touchpoints as well as to communicate it more effectively through role models to increase <div style=\"display:none\"><a href=\"http://merkloos-product.com/tadalafil/kopen-tadasoft-20mg-in-nederland-online.html\">Kopen Tadasoft 20mg In Nederland Online</a></div> traction. Targeted research into motivations for not opening bank accounts as well as patterns of use for those that do is needed as this will feed into greater customer centricity in solutions offered.\r\n\r\nFinally, creative campaigns targeting early adopters to drive digital payment uptake through affordable and easy to use mobility solutions will be rolled out alongside digital enablement of anchor merchants in the community.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1521203333411{padding-top: 30px !important;padding-bottom: 30px !important;}\"][vc_column_inner][vc_separator color=\"custom\" accent_color=\"#626262\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10px\" padding_bottom=\"10px\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265268713{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265795099{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/06/What-Cooking-in-our-Digital-Payments-Lab.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"5\" padding_bottom=\"5\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"][starbox id=17][/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" disable_element=\"yes\" front_status=\"draft\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" column_gap=\"no\" padding_top=\"70px\" padding_bottom=\"50px\" margin_top=\"0px\" bg_image=\"9937\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1484826151396{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative seeded by an alliance between the Government of India &amp; USAID, to expand digital payments and financial inclusion in India, especially for small merchants and low-income consumers.</p>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'What’s Cooking in our Digital Payments Lab?', '', 'publish', 'open', 'open', '', 'whats-cooking-digital-payments-lab', '', '', '2018-11-15 10:17:49', '2018-11-15 10:17:49', '', 0, 'http://cashlesscatalyst.org/?p=15315', 13, 'post', '', 0),
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