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(26333, 12, '2018-09-20 15:38:05', '2018-09-20 15:38:05', '[vc_row padding_top=\"0\" padding_bottom=\"0\"][vc_column][vc_row_inner][vc_column_inner][rev_slider_vc alias=\"home-new\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#8e172b\" padding_top=\"0\" padding_bottom=\"0\"][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_single_image image=\"25921\" img_size=\"full\"][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"60px\" padding_bottom=\"30px\" bg_image=\"25922\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_column_text text_color=\"#ffffff\" letter_spacing=\"\"]CATALYST has a broader mission to help small business ecosystems access the benefits of digital finance. The Catalyst Incubator — Fintech for the Last Mile promotes innovative and scalable fintech solutions that address the needs of traditionally underserved market segments. It 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.\r\n\r\n[/vc_column_text][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\" bg_image=\"25928\"][vc_column width=\"1/2\" el_class=\"inc-img\"][vc_single_image image=\"26357\" img_size=\"full\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner css=\".vc_custom_1536761334507{margin-bottom: 30px !important;}\"][vc_column_inner][vc_column_text font_size=\"21px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\"><strong>The five shortlisted Start-Ups </strong></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763013113{margin-bottom: 20px !important;}\"][vc_single_image image=\"25997\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763036990{margin-bottom: 20px !important;}\"][vc_single_image image=\"25998\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763050875{margin-bottom: 20px !important;}\"][vc_single_image image=\"26000\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner el_class=\"smallcol\" width=\"1/3\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763080410{margin-bottom: 20px !important;}\"][vc_single_image image=\"25999\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763087673{margin-bottom: 20px !important;}\"][vc_single_image image=\"25996\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1536775202148{margin-top: 30px !important;}\"][vc_column_inner][kleo_button title=\"Know 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small_screen_grid=\"Gallery-mobile\" image_size=\"full\" ids=\"26372,14395,25607,26374,26376,16459,13467,25535,13473\"]\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_empty_space height=\"40px\"][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" 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_1549446808488{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_1484047958306{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]', 'Home', '', 'publish', 'closed', 'closed', '', 'home-2', '', '', '2019-02-06 09:53:34', '2019-02-06 09:53:34', '', 0, 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(40379, 23, '2019-02-06 09:53:34', '2019-02-06 09:53:34', '[vc_row padding_top=\"0\" padding_bottom=\"0\"][vc_column][vc_row_inner][vc_column_inner][rev_slider_vc alias=\"home-new\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#8e172b\" padding_top=\"0\" padding_bottom=\"0\"][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_single_image image=\"25921\" img_size=\"full\"][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"60px\" padding_bottom=\"30px\" bg_image=\"25922\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_column_text text_color=\"#ffffff\" letter_spacing=\"\"]CATALYST has a broader mission to help small business ecosystems access the benefits of digital finance. The Catalyst Incubator — Fintech for the Last Mile promotes innovative and scalable fintech solutions that address the needs of traditionally underserved market segments. It 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.\r\n\r\n[/vc_column_text][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\" bg_image=\"25928\"][vc_column width=\"1/2\" el_class=\"inc-img\"][vc_single_image image=\"26357\" img_size=\"full\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner css=\".vc_custom_1536761334507{margin-bottom: 30px !important;}\"][vc_column_inner][vc_column_text font_size=\"21px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\"><strong>The five shortlisted Start-Ups </strong></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763013113{margin-bottom: 20px !important;}\"][vc_single_image image=\"25997\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763036990{margin-bottom: 20px !important;}\"][vc_single_image image=\"25998\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763050875{margin-bottom: 20px !important;}\"][vc_single_image image=\"26000\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner el_class=\"smallcol\" width=\"1/3\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763080410{margin-bottom: 20px !important;}\"][vc_single_image image=\"25999\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763087673{margin-bottom: 20px !important;}\"][vc_single_image image=\"25996\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1536775202148{margin-top: 30px !important;}\"][vc_column_inner][kleo_button title=\"Know More\" href=\"https://cashlesscatalyst.org/incubator/\" style=\"custom\" position=\"center\" special=\"no\" icon=\"0\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" custom_background=\"#d11e3c\" custom_bg_hover=\"rgba(255,255,255,0.01)\" custom_text=\"#ffffff\" custom_text_hover=\"#d11e3c\" custom_border=\"#d11e3c\" custom_border_hover=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_image=\"7841\"][vc_column][vc_empty_space height=\"20px\"][vc_custom_heading text=\"RECENT ACTIVITIES\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23000000|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_empty_space height=\"35px\"][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\r\n\r\n[gallery tiles=\"yes\" columns=\"6\" size=\"full\" grids=\"Recent Activities\" small_screen_grid=\"Gallery-mobile\" image_size=\"full\" ids=\"26372,14395,25607,26374,26376,16459,13467,25535,13473\"]\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_empty_space height=\"40px\"][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" 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_1549446808488{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_1484047958306{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]', 'Home', '', 'inherit', 'closed', 'closed', '', '26333-revision-v1', '', '', '2019-02-06 09:53:34', '2019-02-06 09:53:34', '', 26333, 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(26334, 12, '2018-09-20 15:37:15', '2018-09-20 15:37:15', '', 'student-1', '', 'inherit', 'closed', 'closed', '', 'student-1', '', '', '2018-09-20 15:37:15', '2018-09-20 15:37:15', '', 26333, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/student-1.jpg', 0, 'attachment', 'image/jpeg', 0),
(40542, 0, '2019-02-21 16:19:07', '2019-02-21 16:19:07', '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: duh (IP: 77.233.21.70, 77.233.21.70)\r\nEmail: selikonnas@mail.ru\r\nURL: https://dedicatet.com/threads/antivirus-zachem-obnovljat-antivirus.1283/\r\nComment: \r\n[url=https://dedicatet.com/threads/skript-bonusnika-payeer.782/]брут базы[/url]\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12045#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12045#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12045#wpbody-content\r\nCurrently 106 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-129', '', '', '2019-02-21 16:19:07', '2019-02-21 16:19:07', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-129/', 0, 'postman_sent_mail', '', 0),
(40634, 0, '2019-03-12 07:50:23', '2019-03-12 07:50:23', '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: Edwardhon (IP: 212.86.109.29, vm547332.had.su)\r\nEmail: edward246781@gmail.com\r\nURL: \r\nComment: \r\nGood pics , http://my-new-apartments.info/houses-la-palma-ca-378.html <a href=\"http://my-new-apartments.info/las-vegas-rental-assistance-373.html\" rel=\"nofollow\">las vegas rental assistance</a> http://my-new-apartments.info/house-rent-oakland-county-mi-478.html http://my-new-apartments.info/san-diego-property-management-680.html http://my-new-apartments.info/east-boston-massachusetts-real-estate-571.html <a href=\"http://my-new-apartments.info/san-antonio-tx-new-home-builders-898.html\" rel=\"nofollow\">san antonio tx new home builders</a> <a href=\"http://my-new-apartments.info/tucson-real-estate-listings-239.html\" rel=\"nofollow\">tucson real estate listings</a> <a href=\"http://my-new-apartments.info/apartments-baltimore-md-3.html\" rel=\"nofollow\">apartments baltimore md</a> http://my-new-apartments.info/phoenix-vacation-rentals-346.html http://my-new-apartments.info/apartments-rent-portland-area-84.html <a href=\"http://my-new-apartments.info/las-vegas-road-bike-rental-970.html\" rel=\"nofollow\">las vegas road bike rental</a> http://my-new-apartments.info/real-estate-houston-tx-319.html <a href=\"http://my-new-apartments.info/homes-rent-austin-tx-478.html\" rel=\"nofollow\">homes rent austin tx</a> <a href=\"http://my-new-apartments.info/oak-grove-apartments-portland-oregon-356.html\" rel=\"nofollow\">oak grove apartments portland oregon</a> <a href=\"http://my-new-apartments.info/stonehaven-east-apartments-charlotte-nc-reviews-698.html\" rel=\"nofollow\">stonehaven east apartments charlotte nc reviews</a> <a href=\"http://my-new-apartments.info/indianapolis-apartment-rentals-293.html\" rel=\"nofollow\">indianapolis apartment rentals</a> http://my-new-apartments.info/dallas-property-management-359.html <a href=\"http://my-new-apartments.info/condos-near-cameron-village-raleigh-nc-776.html\" rel=\"nofollow\">condos near cameron village raleigh nc</a> <a href=\"http://my-new-apartments.info/long-island-ny-condo-606.html\" rel=\"nofollow\">long island ny condo</a>\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12070#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12070#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12070#wpbody-content\r\nCurrently 131 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-5', '', '', '2019-03-12 07:50:23', '2019-03-12 07:50:23', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-5/', 0, 'postman_sent_mail', '', 0),
(26357, 12, '2018-09-21 07:44:10', '2018-09-21 07:44:10', '', 'book-shopjpg', '', 'inherit', 'closed', 'closed', '', 'book-shopjpg', '', '', '2018-09-21 07:44:10', '2018-09-21 07:44:10', '', 26333, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/book-shopjpg.jpg', 0, 'attachment', 'image/jpeg', 0),
(26362, 12, '2018-09-21 09:52:55', '2018-09-21 09:52:55', '', 'gst', '', 'inherit', 'closed', 'closed', '', 'gst-2', '', '', '2018-09-21 09:52:55', '2018-09-21 09:52:55', '', 12122, 'https://cashlesscatalyst.org/wp-content/uploads/2018/02/gst.jpg', 0, 'attachment', 'image/jpeg', 0),
(26363, 12, '2018-09-21 12:43:03', '2018-09-21 12:43:03', '[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=\"26292\"][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=\"LEVERAGING GST FOR DIGITAL 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=\"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/2018/09/GST-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_custom_heading text=\"INTRODUCTION\" 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<strong>A. The MSME Landscape</strong>\r\n\r\nIndia’s Micro, Small, and Medium Enterprise (MSME) sector is a key engine of growth for the economy, with its 45% contribution to industrial output, over 40% share in exports, and employs more than 100 million people — next only to agriculture.<sup>1</sup> In spite of these impressive numbers, the overall contribution of the sector to national Gross Domestic Product (GDP) is not on par with other middle and high-income economies where MSME contribution lies in the 40-80% range.<sup>2</sup>\r\n\r\nLack of access to affordable, institutional finance remains one of the biggest hindrances to MSME growth in India – merely 5% of small businesses have access to finance from the banking sector. Informal firms account for nearly 77% of all MSMEs in developing countries, and the credit gaps faced by them are often more pronounced as compared to their formal counterparts.<sup>3</sup> An important characteristic of the MSME segment in India is that enterprises operate in a largely cash-based economy and integration of Information and Communications Technology (ICT) into operations and workflows is limited.<sup>4</sup>\r\n\r\n<strong>B. The GST Regime and its Implications for MSMEs</strong>\r\n\r\nIn July 2017, the Government of India introduced a new indirect tax regime called the Goods and Services Tax (GST) that replaced the erstwhile regime of multiple, cascading indirect taxes which included central excise duty, service tax, additional customs duty, surcharges, state level VAT, and octroi.\r\n\r\nThe introduction of GST was envisaged to create a unified national market, to bring in greater transparency in tax levels and to improve tax compliance at reduced cost for taxpayers.\r\n\r\nImplementation of GST has cast a wider tax net than the previous indirect taxation regimes by including more MSMEs in its ambit. The new tax regime, and its pursuant liability thresholds, have significant ramifications for MSMEs. Under the previous tax regime, an enterprise with a turnover of INR 15 million or less was not required to comply with the provisions of the Excise Law. The current tax regime lowers this threshold to INR 2 million. Consequentially, more merchants have been included in the tax net and an increasingly higher number among them are liable to pay the tax, and eventually bear the compliance costs.\r\n\r\nWhile the intent of the indirect tax reform has been lauded by industry, concerns have also been raised regarding its disruptive impact on the MSME segment, coming at the heels of demonetization in 2016.<sup>5</sup> After a year of GST implementation, small enterprises are still grappling with issues related to the input tax credit system, frequent change in rules and the steep penalty for late filing. For the purposes of this paper, we limit ourselves to the implications of GST on ease of doing business and tax compliance and related aspects for small businesses.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"CATALYST WHOLESALER SURVEY ON GST \" 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Catalyst conducted a qualitative study <sup>6</sup> to understand pain points around GST compliance for large wholesalers. Additionally, the survey tested a hypothesis — digital payments can be used to create digital records which eases the compliance burden for large merchants. As a part of the study, six wholesalers engaged in sectors including apparel,local brands and electronics, with annual turnovers ranging from INR 20 million to INR 180 million. It was observed that traders in the wholesale or B2B segment generally have a large number of employees and therefore handling cash and compliance is a hassle if performed manually. In addition to these costs, the current GST framework created pain points for these wholesalers in terms of increased compliance procedures, updating their existing technology and working capital crunch, among others\r\n\r\nThe study suggested that the GST filing process can impose significant compliance costs on small businesses. The incremental costs from GST compliance can be broadly classified under the following categories:\r\n<ul class=\"justify-content\">\r\n 	<li>Cost of GST-compliant systems and softwares e.g. Enterprise Resource Planning software, invoicing and billing software, accounting software, etc. – INR 10,000 p.a.</li>\r\n 	<li>Personnel costs associated with outsourcing of compliance mandates to accounting/tax professionals – INR 30,000 p.a.</li>\r\n 	<li>Training costs associated with building in-house capacity to adhere to compliance norms – INR 5,000 p.a.</li>\r\n</ul>\r\nThe associated costs, as much as INR 100,000 p.a.for some firms, pose a significant hurdle for small businesses that have come under the ambit of GST Act due to the reduced INR 2 million turnover threshold. Given the complexity of GST filing and audit formats, tax rates and HSN code identification issues, our target group of small businesses lack the in-house capacity to execute these functions internally.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"DIGITAL PAYMENT CHANNELS AND ERPs\" 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<img class=\"alignleft size-medium wp-image-26388\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/img-2.jpg\" alt=\"\" />A central aim of the GST was to ensure increased tax compliance by businesses. However, after implementation, there are some key challenges that merchants face with GST filing and compliance, which keeps it far from achieving its objective. Filing returns has become more complex in the new GST regime, specifically for firms who used to file only two returns every six months but now have to file three returns every month along with an annual return.<sup>7</sup> The requirement to file invoice level data and invoice matching with the suppliers for input credit just adds to the complexity. Another key challenge is the multiple tax rates that are in place even under the GST framework. The rates not only vary with the type of product/service a merchant deals in, but also on the value of a such product/service.<sup>8</sup> All these factors, including those discussed previously, taken together have led to increased compliance cost for businesses, particularly the small and micro ones.\r\n\r\nBusinesses frequently use accounting solutions and chartered accountants to execute the compliance procedure. All merchants surveyed in the Catalyst wholesaler study used an accounting software to file their tax returns. Accounting software or ERP (Enterprise Resource Planning) solutions,as they are formally known, are able to take care of the tax returns for a business. However ,currently the reconciliation of the payment for a particular transaction is done manually. A digital payments solution linked to ERPs will automate this and increase ease of compliance. This could induce small and micro merchants to adopt digital payment methods organically for their business operations. In this section, we explore the features that ERPs in India currently have to offer and how an accounting solution with a payments integration may help in easing compliance requirements for small businesses, and thus act as a hook for digital payments.\r\n\r\nAs per the Catalyst survey of wholesalers, the tax compliance function is currently executed using accounting and ERP software such as Tally, Marg, Busy, Quickbooks, and others. They provide users with services such as billing and invoicing, payment and expense handling, inventory management and taxation, among others.\r\n\r\nHowever, the survey was conducted among large wholesalers and smaller merchants who may be executing the compliance procedure differently. Presently, smaller enterprises may only generate paper-based invoices to record business transactions. These paper invoices are digitized by the firm’s accountant who executes the subsequent compliance requirements. The cost of employing an accountant is a compliance-related cost that\r\n\r\nGST-liable firms are required to bear. There are vendors on the market like SahiGST or Cleartax that offer tax filing software, but with pricing ranging from INR 4,000 through INR 12,000 it is unclear if smaller businesses subject to tax will avail of them.\r\n\r\nA better understanding of ERP solutions may shed more light on how digital payments integrated with ERPs may add value to businesses. In the process of filing GST returns, ERPs manage the whole workflow from generating the invoice for the sale, making the accounting entry for it and generating appropriate returns to be filed with the GSTN. However, the invoices need to be manually reconciled with their payment status. Manual reconciliation is an added friction that B2B transactions imply for merchants who usually deal with multiple businesses, both up and down the value chain. Further, business practices often involve deferred and part payments, which adds to the complexity of manual reconciliation.\r\n\r\nThe need for automatic reconciliation of invoices was expressed by merchants in a dipstick survey of nine small pharmaceutical retailers in Jaipur, conducted by Catalyst in May 2018.<sup>9</sup> The survey revealed that all GST-compliant pharma retailers were using an accounting software and chartered accountants to file their returns. The reconciliation, however, was done manually within the ERP by the merchant. Merchants expressed interest in an ERP plus payments solution, which could enable them to pay and send payment requests through the platform itself.\r\n\r\nCatalyst spoke to its partner PayBee, a payments collection solutions provider, to gain insights on how such a product may be designed. Illustratively, a possible workflow is detailed below:<sup>10</sup>\r\n\r\nThe proposed integration reduces the frictions imposed by current reconciliation procedures. Given that reconciliation is an integral part of GST compliance, such a solution shall have an order of magnitude effect on easing GST compliance former chants; effectively exploiting digital payments’ potential in easing GST compliance. Razorpay, a payments acceptance platform, has developed a product which enables merchants to generate invoices, share them with the payer and accept payments.<sup>12</sup> This eases reconciliation as the merchant can tally ‘Account Receivables’ against ‘Invoices Issued’. However, the merchant shall still have to add invoice details and other transaction information on the ERP to file GST returns, creating the friction of managing multiple platforms. To the end of seamless GST compliance, an ERP + Payments offering remains the most comprehensive solution.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"GSTN &amp; PAYMENTS DATA BUNDLING TO FACILITATE SME CREDIT\" 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The periodic and regular filing of tax invoices by SMEs implies a vast database of transaction records of GST-compliant merchants with the GSTN (the technological backbone of the GST ecosystem). Developers and service providers, including lenders, have access to GSTN APIs through GST Suvidha Providers. A “GSP”, as it is called, offers technological solutions to other stakeholders (Application ServiceProviders) to connect with GST systems.<sup>13</sup> This data, along with other data-sets, including payments data, could be leveraged by lenders to create alternative credit scores for under-banked SMEs. The invoice data will offer commercial data-points of the SME concerned and payments data can supplement with points from variables like power and utility payments, rentals, and telecom bills. Presently, the existing credit infrastructure in the country does not capture credit risk as evidenced from non-financial payables such as utility, telecom, and rentals.\r\n\r\nIn light of this status quo, GST reform presents the opportunity for policymakers to push through concerted marketing and SME on-boarding drives for digitization of payments in the aforementioned use-cases on the one hand and enabling credit information companies/other data utilities to capture utility payments and telecom bills data on the other. Presently, 30% of all power bills are paid digitally<sup>14</sup> and the data trails created therein, coupled with the GSTN database can be utilized to construct alternative credit scores for SMEs on the basis of which they can be lent to. The incentive of customized credit products can be further used to drive adoption of digital bill payments among merchants, creating a virtuous cycle of digital payments and customized credit.\r\n\r\nIt is pertinent to note here that the RBI has recently mooted a public credit registry (PCR) that may potentially augment the existing credit information infrastructure (CICs).<sup>15</sup> Although it is not clear what data sources will feed into the PCR, payments data regarding utilities, telecom, and even rent can potentially be aggregated there and may be made available to lenders including fintech lenders via open APIs. The GSTN data coupled with this aggregated data will then provide the basis for an alternate credit score that will facilitate credit toSMEs. Finally, the Government e-Marketplace offers an important channel for offering credit to sellers based on transactions there, including Government-to-merchant (G2M) payments data.<sup>16</sup> Like with utilities and telecom, the G2M cash-flows through the GeM can complement GSTN data to create an alternate credit score for SMEs.\r\n\r\nTo summarize, while GSTN architecture may have limited ability to act as a direct hook for digital payments, GSTN data coupled with digitized payments use-cases across power, telecom, and rentals (C2M), and across GeM to the SME sellers (G2M) offers potential for creating alternate scores to facilitate credit. Thus, policymakers should package the push for digitization of payments using GSTN data as a hook.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"TAX 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<img class=\"alignleft size-medium wp-image-26387\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/img-1.jpg\" alt=\"\" />\r\n\r\nPaying digitally, however, means that all transactions are recorded and liable to be taxed. In this scenario, the consumers have to bear the erstwhile undeclared tax burden; this is an added cost imposed by digital payments. Industry experts have noted that the tax savings that result from cash-based transactions drive SME unit economics. Navin Surya, Chairman of Payments Council of India, suggested that policymakers should incrementally reduce the tax incidence on every additional rupee brought into the formal economy. The tax rate should be designed such that the small businesses can make the trade-off between the cash-driven tax savings with peace of mind brought with formalization.<sup>17</sup> Thus, there appears to be a case for providing tax based/GST based incentives for payments done digitally to promote their usage.\r\n\r\nThis note has previously mentioned the value of digital B2B payments in easing compliance and facilitating credit for enterprises. A tax incentive policy can further augment these levers and turn GST into a potent hook for digital payments. The incentive can be directed at a particular stage of the business value chain that has the potential of digitizing all transactions, upstream and downstream, to it.\r\n\r\nThere exists a need for instituting a GST/non-GST tax-driven policy that rewards enterprises for digitization of all hitherto unrecorded transactions (illustratively by lowering GST/other tax rate applicable to a class of merchants’ contingent on them using digital payments to pay upstream and downstream). Empirical testing will reveal the optimum \'nudge\' at which the benefits from digitization for the merchant will outweigh the benefits from tax arbitrage, if any. Such evidence-based policy will facilitate formalization.\r\n\r\nCountries have also experimented with the C2B interface. Uruguay, through its 2014 financial inclusion law, introduced VAT incentives on the use of digital means to pay. Individuals were given a tax credit to the extent of 2% on the VAT rate for payments made digitally.<sup>18</sup> As a result of these incentives, debit cards transactions increased seven to eight times in a span of two years. The GST Council, in a similar vein, has instituted a rebate of 20% (capped at INR 100) of the total GST amount on payments made via BHIM UPI, RuPay Cards and USSD in rural and semi-urban areas.<sup>19</sup> It remains to be seen if the pilots yield the desired results.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"ACTIONABLES FOR POLICYMAKERS\" 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Three actionable insights can be derived from our research:\r\n\r\n<strong>ERP Integration with Digital Payments:</strong>\r\n\r\nPolicymakers may organize a hackathon to crowdsource a solution involving an ERP platform bundled with digital payments that automatically reconciles statements against their payment status. It appears from surveyed evidence that there is a felt need for such a solution.\r\n\r\n<strong>Creation of a Data Utility that Compliments GSTN:</strong>\r\n\r\nPolicymakers may facilitate creation of a data utility that will aggregate non-financial transactions (telecom, utility bills) paid digitally. Extant invoice level data on the GSTN network can be coupled with data aggregated by the data utility to construct an alternate credit score for SMEs that can be relied upon to lend to merchants.\r\n\r\nCampaigns targeted at pushing consumers to pay their utility, telecom (and potentially rent) bills may use alternate credit scoring as a hook for digital payments. GST can thus be an indirect spur for digital payments through the creation of alternate data-sets that can complement GSTN data.\r\n\r\n<strong>Tax Incentives to Drive B2B Digitization:</strong>\r\nAn incentive framework that is targeted at digitizing B2B supply chains by reducing the tax incidence on every additional rupee brought into the formal economy must be explored.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text text_color=\"#383b3b\" font_size=\"11px\" letter_spacing=\"\" el_class=\"star-text\"]<em><sup>1</sup>Annual Report, 2017-18, Ministry of MSME, https://msme.gov.in/sites/default/files/MSME-AR-2017-18-Eng.pdf</em>\r\n\r\n<sup>2</sup>The new wave Indian MSME: An action agenda for growth, KPMG and Confederation of Indian Industry, March 2016. Available at: https://assets.kpmg.com/content/dam/kpmg/pdf/2016/03/The-new-wave-Indian-MSME.pdf\r\n\r\n<sup>3</sup>Micro, Small and Medium Enterprises in India: A research study on needs, gaps and way forward, International Finance Corporation (World Bank Group) and Government of Japan, November 2012. Available at: https://www.ifc.org/wps/wcm/connect/4760ee004ec65f44a165bd45b400a808/MSME+Report-03-01-2013.pdf?MOD=AJPERES\r\n\r\n<sup>4</sup>Overall, only 8% of total personal consumption expenditures and 26% of Micro Small and Medium Enterprises (MSMEs) to supplier payments are estimated as non-cash. Source: India’s Digital Future, Morgan Stanley Research, Oct 2017.\r\n\r\n<sup>5</sup>https://www.business-standard.com/article/economy-policy/one-year-of-gst-compliance-still-a-challenge-for-small-business-owners-118070100625_1.html\r\n\r\n<em><sup>6</sup>Study was conducted by GST Street</em>\r\n\r\n<em><sup>7</sup>GST Council on 21 July 2018 allowed quarterly filing of returns for firms having turnover less than INR 50 million, however firms above the threshold have to file monthly returns.</em>\r\n\r\n<sup>8</sup>Over 200 days of GST: The Road Ahead, PwC India. (Available at: https://www.pwc.in/assets/pdfs/publications/2018/over-200-days-of-gst-the-road-ahead.pdf)\r\n\r\n<em><sup>9</sup>Questionnaire used for the survey has been included in the Annexure 1.</em>\r\n\r\n<sup>10</sup>Conversation with Area Sales Manager, PayBee dated 31 July 2018\r\n\r\n<sup>11</sup>OProposed integration is different from the invoice enabled collect request functionality included within UPI 2.0 to the extent that ERP automatically sends a pull request as per the payment conditions whereas UPI 2.0 requires merchants to manually attach invoices in collect requests.\r\n\r\n<sup>12</sup>See: https://razorpay.com/blog/razorpay-gst-compliant-invoices/\r\n\r\n<em><sup>13</sup>See: https://economictimes.indiatimes.com/small-biz/startups/flipkart-wants-to-become-gst-suvidha-provider/articleshow/58782560.cms?utm_</em>\r\n\r\nsource=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst\r\n\r\n<sup>14</sup>4BCG-Google, Digital Payments 2020: The Making of a $500 Billion Ecosystem in India (July 2016). Available at: http://image-src.bcg.com/BCG_COM/BCGGoogle%20Digital%20Payments%202020-July%202016_tcm21-39245.pdf\r\n\r\n<sup>15</sup>BCG, Digital Lending: A $1 trillion opportunity over the next five years (July 2018).\r\n\r\n<sup>16</sup>See https://gem.gov.in/\r\n\r\n<em><sup>17</sup>Catalyst - Interview with Mr. Navin Surya, Chairman, Payments Council of India. Available at: https://cashlesscatalyst.org/interviews/interview-mr-naveensurya-chairman-payments-council-india/</em>\r\n\r\n<sup>18</sup>See https://www.betterthancash.org/news/media-releases/uruguay-makes-great-strides-toward-the-universalization-of-access-to-financial-services\r\n\r\n<sup>19</sup>See:https://www.business-standard.com/article/economy-policy/gst-council-meet-msme-in-focus-cashback-for-digitalisation-on-pilotbasis-118080400464_1.html\r\n\r\n[/vc_column_text][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">TECHNICAL WRITERS:</span> Mandar Kagade, Raghav Katyal, Janak Priyani, and Diksha Singh</p>\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">ACKNOWLEDGEMENTS:</span> The authors would like to thank Navya Mathur, Area Sales Manager, PayBee\r\nand GSTStreet for their insights on merchant pain-points around invoicing and GST compliance.</p>\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/GST-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_1549446800691{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]', 'Leveraging GST for digital payments', '', 'publish', 'closed', 'closed', '', 'leveraging-gst-digital-payments-2', '', '', '2019-02-06 09:53:25', '2019-02-06 09:53:25', '', 0, 'https://cashlesscatalyst.org/?page_id=26363', 0, 'page', '', 0);
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(40378, 23, '2019-02-06 09:53:25', '2019-02-06 09:53:25', '[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=\"26292\"][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=\"LEVERAGING GST FOR DIGITAL 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=\"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/2018/09/GST-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_custom_heading text=\"INTRODUCTION\" 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<strong>A. The MSME Landscape</strong>\r\n\r\nIndia’s Micro, Small, and Medium Enterprise (MSME) sector is a key engine of growth for the economy, with its 45% contribution to industrial output, over 40% share in exports, and employs more than 100 million people — next only to agriculture.<sup>1</sup> In spite of these impressive numbers, the overall contribution of the sector to national Gross Domestic Product (GDP) is not on par with other middle and high-income economies where MSME contribution lies in the 40-80% range.<sup>2</sup>\r\n\r\nLack of access to affordable, institutional finance remains one of the biggest hindrances to MSME growth in India – merely 5% of small businesses have access to finance from the banking sector. Informal firms account for nearly 77% of all MSMEs in developing countries, and the credit gaps faced by them are often more pronounced as compared to their formal counterparts.<sup>3</sup> An important characteristic of the MSME segment in India is that enterprises operate in a largely cash-based economy and integration of Information and Communications Technology (ICT) into operations and workflows is limited.<sup>4</sup>\r\n\r\n<strong>B. The GST Regime and its Implications for MSMEs</strong>\r\n\r\nIn July 2017, the Government of India introduced a new indirect tax regime called the Goods and Services Tax (GST) that replaced the erstwhile regime of multiple, cascading indirect taxes which included central excise duty, service tax, additional customs duty, surcharges, state level VAT, and octroi.\r\n\r\nThe introduction of GST was envisaged to create a unified national market, to bring in greater transparency in tax levels and to improve tax compliance at reduced cost for taxpayers.\r\n\r\nImplementation of GST has cast a wider tax net than the previous indirect taxation regimes by including more MSMEs in its ambit. The new tax regime, and its pursuant liability thresholds, have significant ramifications for MSMEs. Under the previous tax regime, an enterprise with a turnover of INR 15 million or less was not required to comply with the provisions of the Excise Law. The current tax regime lowers this threshold to INR 2 million. Consequentially, more merchants have been included in the tax net and an increasingly higher number among them are liable to pay the tax, and eventually bear the compliance costs.\r\n\r\nWhile the intent of the indirect tax reform has been lauded by industry, concerns have also been raised regarding its disruptive impact on the MSME segment, coming at the heels of demonetization in 2016.<sup>5</sup> After a year of GST implementation, small enterprises are still grappling with issues related to the input tax credit system, frequent change in rules and the steep penalty for late filing. For the purposes of this paper, we limit ourselves to the implications of GST on ease of doing business and tax compliance and related aspects for small businesses.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"CATALYST WHOLESALER SURVEY ON GST \" 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Catalyst conducted a qualitative study <sup>6</sup> to understand pain points around GST compliance for large wholesalers. Additionally, the survey tested a hypothesis — digital payments can be used to create digital records which eases the compliance burden for large merchants. As a part of the study, six wholesalers engaged in sectors including apparel,local brands and electronics, with annual turnovers ranging from INR 20 million to INR 180 million. It was observed that traders in the wholesale or B2B segment generally have a large number of employees and therefore handling cash and compliance is a hassle if performed manually. In addition to these costs, the current GST framework created pain points for these wholesalers in terms of increased compliance procedures, updating their existing technology and working capital crunch, among others\r\n\r\nThe study suggested that the GST filing process can impose significant compliance costs on small businesses. The incremental costs from GST compliance can be broadly classified under the following categories:\r\n<ul class=\"justify-content\">\r\n 	<li>Cost of GST-compliant systems and softwares e.g. Enterprise Resource Planning software, invoicing and billing software, accounting software, etc. – INR 10,000 p.a.</li>\r\n 	<li>Personnel costs associated with outsourcing of compliance mandates to accounting/tax professionals – INR 30,000 p.a.</li>\r\n 	<li>Training costs associated with building in-house capacity to adhere to compliance norms – INR 5,000 p.a.</li>\r\n</ul>\r\nThe associated costs, as much as INR 100,000 p.a.for some firms, pose a significant hurdle for small businesses that have come under the ambit of GST Act due to the reduced INR 2 million turnover threshold. Given the complexity of GST filing and audit formats, tax rates and HSN code identification issues, our target group of small businesses lack the in-house capacity to execute these functions internally.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"DIGITAL PAYMENT CHANNELS AND ERPs\" 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<img class=\"alignleft size-medium wp-image-26388\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/img-2.jpg\" alt=\"\" />A central aim of the GST was to ensure increased tax compliance by businesses. However, after implementation, there are some key challenges that merchants face with GST filing and compliance, which keeps it far from achieving its objective. Filing returns has become more complex in the new GST regime, specifically for firms who used to file only two returns every six months but now have to file three returns every month along with an annual return.<sup>7</sup> The requirement to file invoice level data and invoice matching with the suppliers for input credit just adds to the complexity. Another key challenge is the multiple tax rates that are in place even under the GST framework. The rates not only vary with the type of product/service a merchant deals in, but also on the value of a such product/service.<sup>8</sup> All these factors, including those discussed previously, taken together have led to increased compliance cost for businesses, particularly the small and micro ones.\r\n\r\nBusinesses frequently use accounting solutions and chartered accountants to execute the compliance procedure. All merchants surveyed in the Catalyst wholesaler study used an accounting software to file their tax returns. Accounting software or ERP (Enterprise Resource Planning) solutions,as they are formally known, are able to take care of the tax returns for a business. However ,currently the reconciliation of the payment for a particular transaction is done manually. A digital payments solution linked to ERPs will automate this and increase ease of compliance. This could induce small and micro merchants to adopt digital payment methods organically for their business operations. In this section, we explore the features that ERPs in India currently have to offer and how an accounting solution with a payments integration may help in easing compliance requirements for small businesses, and thus act as a hook for digital payments.\r\n\r\nAs per the Catalyst survey of wholesalers, the tax compliance function is currently executed using accounting and ERP software such as Tally, Marg, Busy, Quickbooks, and others. They provide users with services such as billing and invoicing, payment and expense handling, inventory management and taxation, among others.\r\n\r\nHowever, the survey was conducted among large wholesalers and smaller merchants who may be executing the compliance procedure differently. Presently, smaller enterprises may only generate paper-based invoices to record business transactions. These paper invoices are digitized by the firm’s accountant who executes the subsequent compliance requirements. The cost of employing an accountant is a compliance-related cost that\r\n\r\nGST-liable firms are required to bear. There are vendors on the market like SahiGST or Cleartax that offer tax filing software, but with pricing ranging from INR 4,000 through INR 12,000 it is unclear if smaller businesses subject to tax will avail of them.\r\n\r\nA better understanding of ERP solutions may shed more light on how digital payments integrated with ERPs may add value to businesses. In the process of filing GST returns, ERPs manage the whole workflow from generating the invoice for the sale, making the accounting entry for it and generating appropriate returns to be filed with the GSTN. However, the invoices need to be manually reconciled with their payment status. Manual reconciliation is an added friction that B2B transactions imply for merchants who usually deal with multiple businesses, both up and down the value chain. Further, business practices often involve deferred and part payments, which adds to the complexity of manual reconciliation.\r\n\r\nThe need for automatic reconciliation of invoices was expressed by merchants in a dipstick survey of nine small pharmaceutical retailers in Jaipur, conducted by Catalyst in May 2018.<sup>9</sup> The survey revealed that all GST-compliant pharma retailers were using an accounting software and chartered accountants to file their returns. The reconciliation, however, was done manually within the ERP by the merchant. Merchants expressed interest in an ERP plus payments solution, which could enable them to pay and send payment requests through the platform itself.\r\n\r\nCatalyst spoke to its partner PayBee, a payments collection solutions provider, to gain insights on how such a product may be designed. Illustratively, a possible workflow is detailed below:<sup>10</sup>\r\n\r\nThe proposed integration reduces the frictions imposed by current reconciliation procedures. Given that reconciliation is an integral part of GST compliance, such a solution shall have an order of magnitude effect on easing GST compliance former chants; effectively exploiting digital payments’ potential in easing GST compliance. Razorpay, a payments acceptance platform, has developed a product which enables merchants to generate invoices, share them with the payer and accept payments.<sup>12</sup> This eases reconciliation as the merchant can tally ‘Account Receivables’ against ‘Invoices Issued’. However, the merchant shall still have to add invoice details and other transaction information on the ERP to file GST returns, creating the friction of managing multiple platforms. To the end of seamless GST compliance, an ERP + Payments offering remains the most comprehensive solution.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"GSTN &amp; PAYMENTS DATA BUNDLING TO FACILITATE SME CREDIT\" 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The periodic and regular filing of tax invoices by SMEs implies a vast database of transaction records of GST-compliant merchants with the GSTN (the technological backbone of the GST ecosystem). Developers and service providers, including lenders, have access to GSTN APIs through GST Suvidha Providers. A “GSP”, as it is called, offers technological solutions to other stakeholders (Application ServiceProviders) to connect with GST systems.<sup>13</sup> This data, along with other data-sets, including payments data, could be leveraged by lenders to create alternative credit scores for under-banked SMEs. The invoice data will offer commercial data-points of the SME concerned and payments data can supplement with points from variables like power and utility payments, rentals, and telecom bills. Presently, the existing credit infrastructure in the country does not capture credit risk as evidenced from non-financial payables such as utility, telecom, and rentals.\r\n\r\nIn light of this status quo, GST reform presents the opportunity for policymakers to push through concerted marketing and SME on-boarding drives for digitization of payments in the aforementioned use-cases on the one hand and enabling credit information companies/other data utilities to capture utility payments and telecom bills data on the other. Presently, 30% of all power bills are paid digitally<sup>14</sup> and the data trails created therein, coupled with the GSTN database can be utilized to construct alternative credit scores for SMEs on the basis of which they can be lent to. The incentive of customized credit products can be further used to drive adoption of digital bill payments among merchants, creating a virtuous cycle of digital payments and customized credit.\r\n\r\nIt is pertinent to note here that the RBI has recently mooted a public credit registry (PCR) that may potentially augment the existing credit information infrastructure (CICs).<sup>15</sup> Although it is not clear what data sources will feed into the PCR, payments data regarding utilities, telecom, and even rent can potentially be aggregated there and may be made available to lenders including fintech lenders via open APIs. The GSTN data coupled with this aggregated data will then provide the basis for an alternate credit score that will facilitate credit toSMEs. Finally, the Government e-Marketplace offers an important channel for offering credit to sellers based on transactions there, including Government-to-merchant (G2M) payments data.<sup>16</sup> Like with utilities and telecom, the G2M cash-flows through the GeM can complement GSTN data to create an alternate credit score for SMEs.\r\n\r\nTo summarize, while GSTN architecture may have limited ability to act as a direct hook for digital payments, GSTN data coupled with digitized payments use-cases across power, telecom, and rentals (C2M), and across GeM to the SME sellers (G2M) offers potential for creating alternate scores to facilitate credit. Thus, policymakers should package the push for digitization of payments using GSTN data as a hook.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"TAX 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<img class=\"alignleft size-medium wp-image-26387\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/img-1.jpg\" alt=\"\" />\r\n\r\nPaying digitally, however, means that all transactions are recorded and liable to be taxed. In this scenario, the consumers have to bear the erstwhile undeclared tax burden; this is an added cost imposed by digital payments. Industry experts have noted that the tax savings that result from cash-based transactions drive SME unit economics. Navin Surya, Chairman of Payments Council of India, suggested that policymakers should incrementally reduce the tax incidence on every additional rupee brought into the formal economy. The tax rate should be designed such that the small businesses can make the trade-off between the cash-driven tax savings with peace of mind brought with formalization.<sup>17</sup> Thus, there appears to be a case for providing tax based/GST based incentives for payments done digitally to promote their usage.\r\n\r\nThis note has previously mentioned the value of digital B2B payments in easing compliance and facilitating credit for enterprises. A tax incentive policy can further augment these levers and turn GST into a potent hook for digital payments. The incentive can be directed at a particular stage of the business value chain that has the potential of digitizing all transactions, upstream and downstream, to it.\r\n\r\nThere exists a need for instituting a GST/non-GST tax-driven policy that rewards enterprises for digitization of all hitherto unrecorded transactions (illustratively by lowering GST/other tax rate applicable to a class of merchants’ contingent on them using digital payments to pay upstream and downstream). Empirical testing will reveal the optimum \'nudge\' at which the benefits from digitization for the merchant will outweigh the benefits from tax arbitrage, if any. Such evidence-based policy will facilitate formalization.\r\n\r\nCountries have also experimented with the C2B interface. Uruguay, through its 2014 financial inclusion law, introduced VAT incentives on the use of digital means to pay. Individuals were given a tax credit to the extent of 2% on the VAT rate for payments made digitally.<sup>18</sup> As a result of these incentives, debit cards transactions increased seven to eight times in a span of two years. The GST Council, in a similar vein, has instituted a rebate of 20% (capped at INR 100) of the total GST amount on payments made via BHIM UPI, RuPay Cards and USSD in rural and semi-urban areas.<sup>19</sup> It remains to be seen if the pilots yield the desired results.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"ACTIONABLES FOR POLICYMAKERS\" 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Three actionable insights can be derived from our research:\r\n\r\n<strong>ERP Integration with Digital Payments:</strong>\r\n\r\nPolicymakers may organize a hackathon to crowdsource a solution involving an ERP platform bundled with digital payments that automatically reconciles statements against their payment status. It appears from surveyed evidence that there is a felt need for such a solution.\r\n\r\n<strong>Creation of a Data Utility that Compliments GSTN:</strong>\r\n\r\nPolicymakers may facilitate creation of a data utility that will aggregate non-financial transactions (telecom, utility bills) paid digitally. Extant invoice level data on the GSTN network can be coupled with data aggregated by the data utility to construct an alternate credit score for SMEs that can be relied upon to lend to merchants.\r\n\r\nCampaigns targeted at pushing consumers to pay their utility, telecom (and potentially rent) bills may use alternate credit scoring as a hook for digital payments. GST can thus be an indirect spur for digital payments through the creation of alternate data-sets that can complement GSTN data.\r\n\r\n<strong>Tax Incentives to Drive B2B Digitization:</strong>\r\nAn incentive framework that is targeted at digitizing B2B supply chains by reducing the tax incidence on every additional rupee brought into the formal economy must be explored.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text text_color=\"#383b3b\" font_size=\"11px\" letter_spacing=\"\" el_class=\"star-text\"]<em><sup>1</sup>Annual Report, 2017-18, Ministry of MSME, https://msme.gov.in/sites/default/files/MSME-AR-2017-18-Eng.pdf</em>\r\n\r\n<sup>2</sup>The new wave Indian MSME: An action agenda for growth, KPMG and Confederation of Indian Industry, March 2016. Available at: https://assets.kpmg.com/content/dam/kpmg/pdf/2016/03/The-new-wave-Indian-MSME.pdf\r\n\r\n<sup>3</sup>Micro, Small and Medium Enterprises in India: A research study on needs, gaps and way forward, International Finance Corporation (World Bank Group) and Government of Japan, November 2012. Available at: https://www.ifc.org/wps/wcm/connect/4760ee004ec65f44a165bd45b400a808/MSME+Report-03-01-2013.pdf?MOD=AJPERES\r\n\r\n<sup>4</sup>Overall, only 8% of total personal consumption expenditures and 26% of Micro Small and Medium Enterprises (MSMEs) to supplier payments are estimated as non-cash. Source: India’s Digital Future, Morgan Stanley Research, Oct 2017.\r\n\r\n<sup>5</sup>https://www.business-standard.com/article/economy-policy/one-year-of-gst-compliance-still-a-challenge-for-small-business-owners-118070100625_1.html\r\n\r\n<em><sup>6</sup>Study was conducted by GST Street</em>\r\n\r\n<em><sup>7</sup>GST Council on 21 July 2018 allowed quarterly filing of returns for firms having turnover less than INR 50 million, however firms above the threshold have to file monthly returns.</em>\r\n\r\n<sup>8</sup>Over 200 days of GST: The Road Ahead, PwC India. (Available at: https://www.pwc.in/assets/pdfs/publications/2018/over-200-days-of-gst-the-road-ahead.pdf)\r\n\r\n<em><sup>9</sup>Questionnaire used for the survey has been included in the Annexure 1.</em>\r\n\r\n<sup>10</sup>Conversation with Area Sales Manager, PayBee dated 31 July 2018\r\n\r\n<sup>11</sup>OProposed integration is different from the invoice enabled collect request functionality included within UPI 2.0 to the extent that ERP automatically sends a pull request as per the payment conditions whereas UPI 2.0 requires merchants to manually attach invoices in collect requests.\r\n\r\n<sup>12</sup>See: https://razorpay.com/blog/razorpay-gst-compliant-invoices/\r\n\r\n<em><sup>13</sup>See: https://economictimes.indiatimes.com/small-biz/startups/flipkart-wants-to-become-gst-suvidha-provider/articleshow/58782560.cms?utm_</em>\r\n\r\nsource=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst\r\n\r\n<sup>14</sup>4BCG-Google, Digital Payments 2020: The Making of a $500 Billion Ecosystem in India (July 2016). Available at: http://image-src.bcg.com/BCG_COM/BCGGoogle%20Digital%20Payments%202020-July%202016_tcm21-39245.pdf\r\n\r\n<sup>15</sup>BCG, Digital Lending: A $1 trillion opportunity over the next five years (July 2018).\r\n\r\n<sup>16</sup>See https://gem.gov.in/\r\n\r\n<em><sup>17</sup>Catalyst - Interview with Mr. Navin Surya, Chairman, Payments Council of India. Available at: https://cashlesscatalyst.org/interviews/interview-mr-naveensurya-chairman-payments-council-india/</em>\r\n\r\n<sup>18</sup>See https://www.betterthancash.org/news/media-releases/uruguay-makes-great-strides-toward-the-universalization-of-access-to-financial-services\r\n\r\n<sup>19</sup>See:https://www.business-standard.com/article/economy-policy/gst-council-meet-msme-in-focus-cashback-for-digitalisation-on-pilotbasis-118080400464_1.html\r\n\r\n[/vc_column_text][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">TECHNICAL WRITERS:</span> Mandar Kagade, Raghav Katyal, Janak Priyani, and Diksha Singh</p>\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">ACKNOWLEDGEMENTS:</span> The authors would like to thank Navya Mathur, Area Sales Manager, PayBee\r\nand GSTStreet for their insights on merchant pain-points around invoicing and GST compliance.</p>\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/GST-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_1549446800691{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]', 'Leveraging GST for digital payments', '', 'inherit', 'closed', 'closed', '', '26363-revision-v1', '', '', '2019-02-06 09:53:25', '2019-02-06 09:53:25', '', 26363, 'https://cashlesscatalyst.org/media/26363-revision-v1/', 0, 'revision', '', 0),
(26367, 12, '2018-09-21 10:11:11', '2018-09-21 10:11:11', 'HHCDBB\r\nAAJJFF\r\nGEEIFF', 'Recent Activities', '', 'publish', 'closed', 'closed', '', 'recent-activities', '', '', '2018-10-11 20:30:45', '2018-10-11 20:30:45', '', 0, 'https://cashlesscatalyst.org/?post_type=grid_template&#038;p=26367', 0, 'grid_template', '', 0),
(26372, 12, '2018-09-21 10:29:59', '2018-09-21 10:29:59', '', 'gaurav', '', 'inherit', 'closed', 'closed', '', 'gaurav-2', '', '', '2018-09-21 10:30:46', '2018-09-21 10:30:46', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/gaurav.jpg', 0, 'attachment', 'image/jpeg', 0),
(26374, 12, '2018-09-21 10:42:29', '2018-09-21 10:42:29', '', 'digital-payments', '', 'inherit', 'closed', 'closed', '', 'digital-payments-3', '', '', '2018-09-21 10:43:25', '2018-09-21 10:43:25', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/digital-payments.jpg', 0, 'attachment', 'image/jpeg', 0),
(26376, 12, '2018-09-21 10:49:44', '2018-09-21 10:49:44', '', 'low-income', '', 'inherit', 'closed', 'closed', '', 'low-income', '', '', '2018-09-21 10:50:36', '2018-09-21 10:50:36', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/low-income.jpg', 0, 'attachment', 'image/jpeg', 0),
(39285, 12, '2018-11-15 14:55:39', '2018-11-15 14:55:39', '[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=\"39287\"][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_column_text text_color=\"#ffffff\" font_size=\"48px\" letter_spacing=\"\" el_class=\"title_blog\"]\r\n<h2 style=\"text-align: center; text-transform: uppercase;\">Can hunger for growth lead to early adoption of digital payment solutions?</h2>\r\n[/vc_column_text][/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/2018/08/Gen-Next_Chit_Funds_From_Dusty_Dab_as_to_Digital_Khaatas.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][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]Praveen Agarwal, a 35-year-old merchant, lives and works in the Sodala neighborhood of Jaipur. Together with his brother, he runs a retail shop that sells bags. Neither uses Paytm, Unified Payments Interface (UPI), PhonePe, Bharat Interface for Money (BHIM) or other popular means of digital payments. Praveen tells us that he had installed Paytm about a year ago on his phone but never had the urge to use it. However, after running a shop for ten years, he invested in a mobile point of sale (mPoS) machine to lure new customers.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#373b3c\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"39306\" alignment=\"center\"][vc_custom_heading text=\"WHAT’S THE HOOK TO ADOPT DIGITAL PAYMENT SOLUTIONS?\" 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_1542295047814{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=\"\"]Intrigued by this change in behavior, we asked him about the real triggers behind this decision. Praveen says that he had been running a small shop next to his current shop till three months ago. He and his brother used a large part of their savings to move into a bigger shop on the main road. Now, the shop is noticeable in terms of both its size and location.\r\n\r\nPraveen says, “Earlier only one or two customers would want to make payments through a credit or debit card. Today, with this bigger shop, we see about six or seven such customers daily. We don’t want to lose these customers. Each customer is valuable for our business.”[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]There is no ATM within a one kilometer radius of the shop. Praveen adds, “At times, customers would leave the shop to withdraw money from the closest ATM, and change their minds in the process. At times they would never return. I do not want to lose those customers or let them change their minds. I think a PoS machine is going to help me hook those customers.”[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\"][vc_column][vc_single_image image=\"39307\" alignment=\"center\"][vc_custom_heading text=\"CATALYST’S ENGAGEMENT\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23000000|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_1542295807152{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]CATALYST has been experimenting with various ‘value additions’ to the PoS/mPoS mechanism to discover a perfect hook for digital payments adoption and access to credit. Field stories such as this tell us that newly opened shops with a larger ambition and bigger appetite for growth can be good use cases for early adoption. However, for shops that have not been able to grow in size over time or where the cost of digital adoption is still high, we need to experiment further to learn, through an iterative process, about value-added services that can lead to faster adoption.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row][vc_column][kleo_button title=\"Download\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/11/can-hunger-for-growth-lead.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]', 'Can hunger for growth lead to early adoption of digital payment solutions?', '', 'publish', 'closed', 'closed', '', 'can-hunger-growth-lead-early-adoption-digital-payment-solutions', '', '', '2018-11-16 06:35:41', '2018-11-16 06:35:41', '', 0, 'https://cashlesscatalyst.org/?page_id=39285', 0, 'page', '', 0),
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(41209, 12, '2019-04-11 10:52:17', '2019-04-11 10:52:17', '', 'Digitizing Micro-merchant Ecosystems - Supply Chains', '', 'inherit', 'closed', 'closed', '', '40821-revision-v1', '', '', '2019-04-11 10:52:17', '2019-04-11 10:52:17', '', 40821, 'https://cashlesscatalyst.org/40821-revision-v1/', 0, 'revision', '', 0),
(41210, 12, '2019-04-11 10:54:30', '2019-04-11 10:54:30', '', 'income-communities', '', 'inherit', 'closed', 'closed', '', 'income-communities', '', '', '2019-04-11 10:54:30', '2019-04-11 10:54:30', '', 40812, 'https://cashlesscatalyst.org/wp-content/uploads/2019/03/income-communities.jpg', 0, 'attachment', 'image/jpeg', 0),
(26387, 12, '2018-09-21 13:57:40', '2018-09-21 13:57:40', '', 'img-1', '', 'inherit', 'closed', 'closed', '', 'img-1', '', '', '2018-09-21 13:57:40', '2018-09-21 13:57:40', '', 26363, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/img-1.jpg', 0, 'attachment', 'image/jpeg', 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
(26471, 12, '2018-09-26 04:49:57', '2018-09-26 04:49:57', '[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=\"26460\"][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=\"DIGITIZING DAIRY B2B SUPPLY CHAIN: EXPERIENCE FROM THE FIELD \" 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/2018/09/Dairy-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_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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]For most households in India, buying milk is part of the daily morning ritual. Usually, someone from the household buys milk and other essentials, and makes payment in cash. There are a number of stakeholders in the dairy supply chain including farmers, dairy cooperatives, distributors, and dairy booth owners. In Jaipur, the dairy board — Saras Dairy — is the apex institution that anchors this supply chain.\r\n\r\nA small value daily purchase use case such as milk could be an ideal case to potentially bring large-scale behavior change from cash to digital, impacting every strata of the Indian population.\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=\"lh22 ptext-justify\"]In order to promote digital payments in Jaipur, Catalyst identified sectors that impact a large population base, opportunities to improve operational efficiency of the supply chain, and strong value propositions for a sustainable business case for digital payments. Based on these parameters, the dairy supply chain was identified as a potential pilot use case and we started initial discussions with Saras Dairy in Jaipur. They ensure milk supply via around 60 distributors and through a vast network of retailers in the city that includes 750 small dairy booths and 4,000 small retail shops.\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=\"26489\"][vc_column][vc_custom_heading text=\"MILK SUPPLY AND PAYMENTS\" 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][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In order to streamline milk supply, Saras has divided the city into zones with around 60 retailers in one zone and one distributor assigned with the responsibility of supply and payments collection from these booths/shops. The distributors are assigned zones based on a bidding process, wherein the margins quoted by them per liter of milk is one of the parameters for selection.\r\n\r\nThe diagram below is a snapshot of the dairy supply and payments cycle:\r\n\r\n[/vc_column_text][vc_single_image image=\"26500\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1537937440359{padding-top: 30px !important;}\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]For each zone, the distributors usually have 1-2 employees who manage the supply and one trusted employee for payments collection from the retailers. When talking to the retailers and distributors, we realized that this supply cycle operates like a well-oiled machine with each stakeholder playing their part efficiently. On the other hand, while the payments cycle is also well established, we realized there are a number of challenges existing in the current system that digital payments could potentially solve.\r\n\r\nThough the supply cycle is twice in a day, payment is collected just once – cumulated for the previous evening and next morning’s supply. Thus, it is a daily payment cycle from booth to distributor and to the dairy. However, while booth to distributor payments are majorly in cash, Saras accepts payments from distributors only through bank transfers or cheques. This means the distributor needs to digitize the cash that s/he collects. Additionally, this payment needs to be made to Saras Dairy by 12 pm every day.\r\n\r\nDistributors usually have trusted employees for cash collection. The process starts at 9 or 10 am in the morning and can go on until the afternoon in some cases. Retailers often do not have access to surplus cash and need the morning sales to make up this daily payment. Sometimes the cash collection employee may need to visit the retailer more than once to collect the payments.\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=\"lh22 ptext-justify \"] This collected cash is then counted, reconciled, and deposited in the distributor’s bank account in order to make the payment to Saras Dairy.\r\n\r\nThe distributor also needs to manage his books and maintains a record of these payments. There could be cases of minor outstanding amounts for certain retailers, which would need to be accounted for in subsequent collections. Sometimes there are changes made to the order sheet during the supply route if some retailers require more or less than their order. In such cases, these changes also need to be accounted for in the payments.\r\n\r\nSome distributors rely on register entries that could be prone to manual errors while others maintain digital records. Even in the case of digital record keeping, the details need to be manually entered into the system by a dedicated employee post the cash collection process. This is a manually intensive task but provides an overview of the payments status and also helps keep a track of part payments or delayed payments.\r\n\r\nAnother aspect of concern in such a manual process is the risk involved. The cash collection agent is perennially under risk of assault when s/he is required to carry huge amounts of cash through a recurrent route. There was, in fact, a real-time case of assault of a dairy cash collection agent by gunfire during the month of January 2018 in Jaipur, which gave an impetus to our digital payments drive in this supply chain.\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\" inline_style=\"font-style: normal;\" bg_image=\"26490\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"COULD DIGITAL PAYMENTS BE THE SOLUTION?\" 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=\"\" el_class=\"normal-style \"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner el_class=\"normal-style \" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]After evaluating this payment structure, adoption of digital payments seemed to be beneficial for the distributor. In an ideal scenario, one in which all retailers in a particular zone go digital, the distributor would no longer need to send an employee for cash collection. Reconciliation and follow-ups could be done sitting in the office. In depositing such large amounts of cash, the distributor also incurs cash deposit charges, which are around 0.3 percent taking the total cost of operating in cash to 0.5 percent after including employee and travel costs. This is a huge cost when compared to their current razor thin profit margin of 1.5 percent. Since their outward payments to Saras requires digital money it would be beneficial to convert their in-flow to digital as well.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style \" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify \"]In order for digital payments to create actual value for the distributor, just payments would not be sufficient and instant bank-to-bank transfer with real-time payments tracking and automated reconciliation would need to go along with it. Theoretically, the distributor stands to gain from adopting a digital payment solution, saving not only on costs associated with cash and reduction of risk but also in terms of increasing efficiency from digital collections and automated reconciliation. However, this needed to be tested. In order to test this hypothesis, Catalyst designed a pilot with one distributor in Jaipur to digitize B2B payments from retailers in their network.\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\" inline_style=\"font-style: normal;\" bg_image=\"26491\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"THE INTERVENTION DESIGN AND HANDHOLDING\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The first step was identifying possible solution types that could be applicable to this use case. Any retailer-to-distributor solution needed to be an instant bank-to-bank transfer, keeping in mind the daily payments requirement. Considering three distinct features – remote payment option, digital invoice (for retailer and distributor), and costing – UPI was identified as the most appropriate solution. Possible solution partners were identified by Catalyst and the shortlisted candidates presented their solution to the distributor. A solution provider, Paybee, was selected based on meetings and in consultation with the distributor. The decision was based on solution readiness, ease of use, costing, and investment by the solution provider. After the solution selection, it was important to design a strategy for adoption, therefore a shop-to-shop adoption drive was started by the solution provider. In order to build trust with the solution as well as the solution provider, one of the distributor’s employees went along with the solution provider’s team for the initial introductions.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The solution provider ensured that the retailers who were interested in adopting the solution were given thorough onboarding instructions and hand-holding was provided for an initial few transactions to ensure they were comfortable with using the solution.\r\n\r\nThe hard copy invoice shared by the distributor in the morning and traditionally used by the supply team was required to be digitized by the solution provider and sent out to the retailers for making payments. The pilot was initially started with one distributor and extended to others as the pilot progressed.\r\n\r\nWhile there are enough benefits of going digital for the distributor, the retailer\'s story was still unclear in terms of our pitch for adoption. Our assumption was that retailers might be averse to behavior change and might prefer the status quo even if it may have challenges. However, the retailers were largely positive and many agreed to try it out, which was a welcome development.\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\" inline_style=\"font-style: normal;\" bg_image=\"26492\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"SOLUTION ACCEPTABILITY\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Though only around 10 percent of the retailers who adopted the solution became active users, it was interesting to see that the retailers who started actively using the solution largely continued paying through the app and did not go back to cash. Some of the factors that influenced the retailers to adopt the solution include: no cost burden on retailers, transparency in invoicing, push from the distributor, and the assistance provided by the solution provider in completing any banking formalities for successful adoption. While earlier the transactions between the distributor and retailer had a paper trail and sometimes there were disputes in payments as well, with the adoption of the digital solution all records of invoices as well as payments were available digitally to both parties; thus minimizing errors and providing referable supporting documents. One of the other benefits of going digital as quoted by the retailers was the lack of physical interaction with the distributor’s employees; as sometimes the cash collection agents made multiple visits or came to collect payments during high footfall periods thus inconveniencing the retailers. With digital payments, they now had the freedom to pay at their convenience – provided it was within the stipulated time period.\r\n\r\nThe solution provider also tweaked their application as they progressed through the pilot such as adding a feature of having multiple logins for the distributor’s employees to keep track of payments but at the same time limiting their access to functions. Another upgrade was to include a call feature to make it easy for the team following up on the payments.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"How to make payment\" font_container=\"tag:h2|font_size:26px|text_align:center|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][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" padding_top=\"0\" padding_bottom=\"100\"][vc_column width=\"1/12\"][/vc_column][vc_column width=\"1/6\"][vc_single_image image=\"26481\" img_size=\"full\" alignment=\"center\"][/vc_column][vc_column width=\"1/6\"][vc_single_image image=\"26482\" img_size=\"full\" alignment=\"center\"][/vc_column][vc_column width=\"1/6\"][vc_single_image image=\"26483\" img_size=\"full\" alignment=\"center\"][/vc_column][vc_column width=\"1/6\"][vc_single_image image=\"26504\" img_size=\"full\" alignment=\"center\"][/vc_column][vc_column width=\"1/6\"][vc_single_image image=\"26505\" img_size=\"full\" alignment=\"center\"][/vc_column][vc_column width=\"1/12\"][/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\" inline_style=\"font-style: normal;\" bg_image=\"26493\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"CRITICAL CHALLENGES\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]No change comes without its share of challenges and our pilot was no different. During initial discussions with distributors and retailers, potential pain-points were identified. One of the major issues was the daily payments cycle with the added criteria of being time-bound. Other challenges to adoption included lack of smartphones, inactive bank accounts, no debit cards, and lack of mobile phones linked to bank accounts. While these issues did come up, wherever possible they were resolved on a case-by-case basis with the support provided by the solution provider to get a debit card, linking of mobile number to a bank account, or even opening bank accounts. However, since some of these were bank-related issues, the resolution took some time.\r\n\r\nThe other big challenge was related to access to digital money. While retailers were largely positive about trying out this digital payment solution, they indicated their lack of access to digital cash as one of the major issues. Our pilot essentially transferred the burden of cash digitization from the distributor to the retailers.\r\n\r\nThe retailers also only have access to cash as customers pay in cash for their purchases. Traditionally, the retailer does not see the need to deposit the cash in his bank as all the distributors take payments in cash. Thus, most retailers do not keep sufficient balance in their bank accounts. They are neither accustomed to nor need to visit banks frequently.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]While in the long run, this behavior change would build the retailer’s banking as well as digital payments history – potentially making them eligible for loans and subsequently other benefits associated with financial inclusion – in the absence of any immediately visible incentives, this behavior change could be challenging.\r\n\r\nMorning hours are the high footfall period for these retailers; and since they usually operate alone, expecting them to leave their store to deposit cash in their banks every day is not a feasible solution. The distance to the bank branch and long lines add to the time loss. Undertaking this on a daily basis will transfer the undue burden to the retailers. And without their cooperation, digital payments uptake along the supply chain is bound to fail.\r\n\r\nApart from the above challenges, Paybee also faced certain operational issues in the process of digitizing invoices. As usual practice, during manual processing of invoice and payments, small deviations in the stock purchase were manually adjusted on a day-to-day basis by the retailers and distributor sales agents. However, after digitization, these operational adjustments were not possible. Also, digitization largely brought down any scope for unscrupulous practices in the supply chain, which was not much appreciated by some stakeholders.\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\" inline_style=\"font-style: normal;\" bg_image=\"26494\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"POTENTIAL SOLUTIONS FOR RETAILER CASH DIGITIZATION\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In order to digitize the retailer to distributor payments in the dairy supply chain, the issue of cash digitization needed to be resolved. While the sustainable solution is to digitize payments throughout the supply chain, i.e. from consumer to retailer (C2B) and from retailer to distributor (B2B), thus move cash entirely out of the system. This requires transformational behavioral change, which is beyond the scope and tenure of this pilot. Thus, an interim sustainable solution was essential. Taking a cue from other sectors, where cash collection takes place regularly, a third solution namely, the Business Correspondent (BC) model was evaluated. BCs are agents who operate on behalf of the bank, providing limited banking services to merchants or consumers. Within the BC model there could be two modes of operation. Under the first mode, these BCs could be located at nearby stores, which means the retailer would have to go to the BC’s location and deposit money. While this method is simpler than bank visits (as the distance traveled transaction time would be lower) it still does not resolve the issue of the retailer having to close shop to make this trip.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The other option is that the BC could visit the retailer’s booth, collect the cash, and instantly deposit it in his or her account. The solution provider had discussions with many banks and agencies to explore the potential partnerships and implementation options.\r\n\r\nAlthough a traditional digital solution provider would typically provide pure payments and subsequent reconciliation solutions and related value additions, in this case, they went a step further and took on this additional responsibility to put in place an effective cash digitization mechanism for retailers. This new role was operationally intensive and came with its share of risks associated with cash. However, being able to showcase the benefits of going digital as well as testing the solution itself was critical at this stage.\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\" inline_style=\"font-style: normal;\" bg_image=\"26495\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"THE NEXT STAGE\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Undertaking the cash collection was operationally intensive for the solution provider and could be challenging when it came to scaling up. In order to test the cash collection mechanism, the solution provider began the process informally with around 6 retailers. They needed to have a dedicated trusted employee undertake cash collection every day for these retailers, which took anywhere between 1.5-2 hours. Additionally, the costs associated with the BC model were not sustainable, keeping in mind the margins of the stakeholders involved.\r\n\r\nDuring this time, the solution provider began engagements with a second distributor, who was keen to go digital. The solution provider began the adoption drive in a similar manner with one change – they would not undertake cash collection for the retailers but attempt to gain a retailer base without providing this assistance.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Again, to our surprise, there were early adopters who agreed to test the solution; some even visiting the banks multiple times in a week to make deposits. However, the banks levied cash deposit charges to these retailers, which they were not willing to bear. At this juncture, Saras Dairy came out with an agreement with one of the banks in Jaipur to open zero balance accounts for the dairy retailers without any charges on cash deposits. Some retailers agreed to open their account at this bank. However, the process was sometimes time-consuming.\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\" inline_style=\"font-style: normal;\" bg_image=\"26496\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"CONSUMER PAYMENTS: A BROKEN LINK\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In an ideal scenario, to pay the distributor digitally, the retailer should receive digital money from his consumers. Unfortunately, owing to the low margins as well as the ticket size of the transaction, the possible solutions are limited and achieving a critical mass of consumers paying digitally would be an uphill task. Behavior change is a slow process and as is seen from other sectors as well, complete digital in-flow is not likely, as a major proportion of transactions would still be in cash. In order to understand the kind of solution that would suit this high-frequency, low-value use case, Catalyst is designing a few small pilots for this segment.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]One of the solutions is UPI, given the retailers comfort with using this for the distributor payments as well as the bank-to-bank instant transfer feature. Other solutions being tested include biometric (Aadhar-based) payments and providing digital credit records or ‘Khaata’. We hope that these short experiments will provide a greater understanding of the type of solution suitable for this use case as well as insights into ultimately digitizing the entire dairy supply chain.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">TECHNICAL WRITERS:</span> Tunisha Kapoor and Preethi Rao</p>\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">ACKNOWLEDGEMENTS:</span> The authors would like to thank PayBee team.</p>\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/Dairy-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_1549446671807{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]', 'Digitizing Dairy B2B Supply Chain', '', 'publish', 'closed', 'closed', '', 'digitizing-dairy-b2b-supply-chain', '', '', '2019-02-06 09:51:16', '2019-02-06 09:51:16', '', 0, 'https://cashlesscatalyst.org/?page_id=26471', 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
(40377, 23, '2019-02-06 09:51:16', '2019-02-06 09:51:16', '[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=\"26460\"][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=\"DIGITIZING DAIRY B2B SUPPLY CHAIN: EXPERIENCE FROM THE FIELD \" 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/2018/09/Dairy-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_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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]For most households in India, buying milk is part of the daily morning ritual. Usually, someone from the household buys milk and other essentials, and makes payment in cash. There are a number of stakeholders in the dairy supply chain including farmers, dairy cooperatives, distributors, and dairy booth owners. In Jaipur, the dairy board — Saras Dairy — is the apex institution that anchors this supply chain.\r\n\r\nA small value daily purchase use case such as milk could be an ideal case to potentially bring large-scale behavior change from cash to digital, impacting every strata of the Indian population.\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=\"lh22 ptext-justify\"]In order to promote digital payments in Jaipur, Catalyst identified sectors that impact a large population base, opportunities to improve operational efficiency of the supply chain, and strong value propositions for a sustainable business case for digital payments. Based on these parameters, the dairy supply chain was identified as a potential pilot use case and we started initial discussions with Saras Dairy in Jaipur. They ensure milk supply via around 60 distributors and through a vast network of retailers in the city that includes 750 small dairy booths and 4,000 small retail shops.\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=\"26489\"][vc_column][vc_custom_heading text=\"MILK SUPPLY AND PAYMENTS\" 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][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In order to streamline milk supply, Saras has divided the city into zones with around 60 retailers in one zone and one distributor assigned with the responsibility of supply and payments collection from these booths/shops. The distributors are assigned zones based on a bidding process, wherein the margins quoted by them per liter of milk is one of the parameters for selection.\r\n\r\nThe diagram below is a snapshot of the dairy supply and payments cycle:\r\n\r\n[/vc_column_text][vc_single_image image=\"26500\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1537937440359{padding-top: 30px !important;}\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]For each zone, the distributors usually have 1-2 employees who manage the supply and one trusted employee for payments collection from the retailers. When talking to the retailers and distributors, we realized that this supply cycle operates like a well-oiled machine with each stakeholder playing their part efficiently. On the other hand, while the payments cycle is also well established, we realized there are a number of challenges existing in the current system that digital payments could potentially solve.\r\n\r\nThough the supply cycle is twice in a day, payment is collected just once – cumulated for the previous evening and next morning’s supply. Thus, it is a daily payment cycle from booth to distributor and to the dairy. However, while booth to distributor payments are majorly in cash, Saras accepts payments from distributors only through bank transfers or cheques. This means the distributor needs to digitize the cash that s/he collects. Additionally, this payment needs to be made to Saras Dairy by 12 pm every day.\r\n\r\nDistributors usually have trusted employees for cash collection. The process starts at 9 or 10 am in the morning and can go on until the afternoon in some cases. Retailers often do not have access to surplus cash and need the morning sales to make up this daily payment. Sometimes the cash collection employee may need to visit the retailer more than once to collect the payments.\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=\"lh22 ptext-justify \"] This collected cash is then counted, reconciled, and deposited in the distributor’s bank account in order to make the payment to Saras Dairy.\r\n\r\nThe distributor also needs to manage his books and maintains a record of these payments. There could be cases of minor outstanding amounts for certain retailers, which would need to be accounted for in subsequent collections. Sometimes there are changes made to the order sheet during the supply route if some retailers require more or less than their order. In such cases, these changes also need to be accounted for in the payments.\r\n\r\nSome distributors rely on register entries that could be prone to manual errors while others maintain digital records. Even in the case of digital record keeping, the details need to be manually entered into the system by a dedicated employee post the cash collection process. This is a manually intensive task but provides an overview of the payments status and also helps keep a track of part payments or delayed payments.\r\n\r\nAnother aspect of concern in such a manual process is the risk involved. The cash collection agent is perennially under risk of assault when s/he is required to carry huge amounts of cash through a recurrent route. There was, in fact, a real-time case of assault of a dairy cash collection agent by gunfire during the month of January 2018 in Jaipur, which gave an impetus to our digital payments drive in this supply chain.\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\" inline_style=\"font-style: normal;\" bg_image=\"26490\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"COULD DIGITAL PAYMENTS BE THE SOLUTION?\" 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=\"\" el_class=\"normal-style \"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner el_class=\"normal-style \" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]After evaluating this payment structure, adoption of digital payments seemed to be beneficial for the distributor. In an ideal scenario, one in which all retailers in a particular zone go digital, the distributor would no longer need to send an employee for cash collection. Reconciliation and follow-ups could be done sitting in the office. In depositing such large amounts of cash, the distributor also incurs cash deposit charges, which are around 0.3 percent taking the total cost of operating in cash to 0.5 percent after including employee and travel costs. This is a huge cost when compared to their current razor thin profit margin of 1.5 percent. Since their outward payments to Saras requires digital money it would be beneficial to convert their in-flow to digital as well.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style \" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify \"]In order for digital payments to create actual value for the distributor, just payments would not be sufficient and instant bank-to-bank transfer with real-time payments tracking and automated reconciliation would need to go along with it. Theoretically, the distributor stands to gain from adopting a digital payment solution, saving not only on costs associated with cash and reduction of risk but also in terms of increasing efficiency from digital collections and automated reconciliation. However, this needed to be tested. In order to test this hypothesis, Catalyst designed a pilot with one distributor in Jaipur to digitize B2B payments from retailers in their network.\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\" inline_style=\"font-style: normal;\" bg_image=\"26491\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"THE INTERVENTION DESIGN AND HANDHOLDING\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The first step was identifying possible solution types that could be applicable to this use case. Any retailer-to-distributor solution needed to be an instant bank-to-bank transfer, keeping in mind the daily payments requirement. Considering three distinct features – remote payment option, digital invoice (for retailer and distributor), and costing – UPI was identified as the most appropriate solution. Possible solution partners were identified by Catalyst and the shortlisted candidates presented their solution to the distributor. A solution provider, Paybee, was selected based on meetings and in consultation with the distributor. The decision was based on solution readiness, ease of use, costing, and investment by the solution provider. After the solution selection, it was important to design a strategy for adoption, therefore a shop-to-shop adoption drive was started by the solution provider. In order to build trust with the solution as well as the solution provider, one of the distributor’s employees went along with the solution provider’s team for the initial introductions.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The solution provider ensured that the retailers who were interested in adopting the solution were given thorough onboarding instructions and hand-holding was provided for an initial few transactions to ensure they were comfortable with using the solution.\r\n\r\nThe hard copy invoice shared by the distributor in the morning and traditionally used by the supply team was required to be digitized by the solution provider and sent out to the retailers for making payments. The pilot was initially started with one distributor and extended to others as the pilot progressed.\r\n\r\nWhile there are enough benefits of going digital for the distributor, the retailer\'s story was still unclear in terms of our pitch for adoption. Our assumption was that retailers might be averse to behavior change and might prefer the status quo even if it may have challenges. However, the retailers were largely positive and many agreed to try it out, which was a welcome development.\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\" inline_style=\"font-style: normal;\" bg_image=\"26492\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"SOLUTION ACCEPTABILITY\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Though only around 10 percent of the retailers who adopted the solution became active users, it was interesting to see that the retailers who started actively using the solution largely continued paying through the app and did not go back to cash. Some of the factors that influenced the retailers to adopt the solution include: no cost burden on retailers, transparency in invoicing, push from the distributor, and the assistance provided by the solution provider in completing any banking formalities for successful adoption. While earlier the transactions between the distributor and retailer had a paper trail and sometimes there were disputes in payments as well, with the adoption of the digital solution all records of invoices as well as payments were available digitally to both parties; thus minimizing errors and providing referable supporting documents. One of the other benefits of going digital as quoted by the retailers was the lack of physical interaction with the distributor’s employees; as sometimes the cash collection agents made multiple visits or came to collect payments during high footfall periods thus inconveniencing the retailers. With digital payments, they now had the freedom to pay at their convenience – provided it was within the stipulated time period.\r\n\r\nThe solution provider also tweaked their application as they progressed through the pilot such as adding a feature of having multiple logins for the distributor’s employees to keep track of payments but at the same time limiting their access to functions. Another upgrade was to include a call feature to make it easy for the team following up on the payments.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"How to make payment\" font_container=\"tag:h2|font_size:26px|text_align:center|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][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" padding_top=\"0\" padding_bottom=\"100\"][vc_column width=\"1/12\"][/vc_column][vc_column width=\"1/6\"][vc_single_image image=\"26481\" img_size=\"full\" alignment=\"center\"][/vc_column][vc_column width=\"1/6\"][vc_single_image image=\"26482\" img_size=\"full\" alignment=\"center\"][/vc_column][vc_column width=\"1/6\"][vc_single_image image=\"26483\" img_size=\"full\" alignment=\"center\"][/vc_column][vc_column width=\"1/6\"][vc_single_image image=\"26504\" img_size=\"full\" alignment=\"center\"][/vc_column][vc_column width=\"1/6\"][vc_single_image image=\"26505\" img_size=\"full\" alignment=\"center\"][/vc_column][vc_column width=\"1/12\"][/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\" inline_style=\"font-style: normal;\" bg_image=\"26493\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"CRITICAL CHALLENGES\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]No change comes without its share of challenges and our pilot was no different. During initial discussions with distributors and retailers, potential pain-points were identified. One of the major issues was the daily payments cycle with the added criteria of being time-bound. Other challenges to adoption included lack of smartphones, inactive bank accounts, no debit cards, and lack of mobile phones linked to bank accounts. While these issues did come up, wherever possible they were resolved on a case-by-case basis with the support provided by the solution provider to get a debit card, linking of mobile number to a bank account, or even opening bank accounts. However, since some of these were bank-related issues, the resolution took some time.\r\n\r\nThe other big challenge was related to access to digital money. While retailers were largely positive about trying out this digital payment solution, they indicated their lack of access to digital cash as one of the major issues. Our pilot essentially transferred the burden of cash digitization from the distributor to the retailers.\r\n\r\nThe retailers also only have access to cash as customers pay in cash for their purchases. Traditionally, the retailer does not see the need to deposit the cash in his bank as all the distributors take payments in cash. Thus, most retailers do not keep sufficient balance in their bank accounts. They are neither accustomed to nor need to visit banks frequently.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]While in the long run, this behavior change would build the retailer’s banking as well as digital payments history – potentially making them eligible for loans and subsequently other benefits associated with financial inclusion – in the absence of any immediately visible incentives, this behavior change could be challenging.\r\n\r\nMorning hours are the high footfall period for these retailers; and since they usually operate alone, expecting them to leave their store to deposit cash in their banks every day is not a feasible solution. The distance to the bank branch and long lines add to the time loss. Undertaking this on a daily basis will transfer the undue burden to the retailers. And without their cooperation, digital payments uptake along the supply chain is bound to fail.\r\n\r\nApart from the above challenges, Paybee also faced certain operational issues in the process of digitizing invoices. As usual practice, during manual processing of invoice and payments, small deviations in the stock purchase were manually adjusted on a day-to-day basis by the retailers and distributor sales agents. However, after digitization, these operational adjustments were not possible. Also, digitization largely brought down any scope for unscrupulous practices in the supply chain, which was not much appreciated by some stakeholders.\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\" inline_style=\"font-style: normal;\" bg_image=\"26494\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"POTENTIAL SOLUTIONS FOR RETAILER CASH DIGITIZATION\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In order to digitize the retailer to distributor payments in the dairy supply chain, the issue of cash digitization needed to be resolved. While the sustainable solution is to digitize payments throughout the supply chain, i.e. from consumer to retailer (C2B) and from retailer to distributor (B2B), thus move cash entirely out of the system. This requires transformational behavioral change, which is beyond the scope and tenure of this pilot. Thus, an interim sustainable solution was essential. Taking a cue from other sectors, where cash collection takes place regularly, a third solution namely, the Business Correspondent (BC) model was evaluated. BCs are agents who operate on behalf of the bank, providing limited banking services to merchants or consumers. Within the BC model there could be two modes of operation. Under the first mode, these BCs could be located at nearby stores, which means the retailer would have to go to the BC’s location and deposit money. While this method is simpler than bank visits (as the distance traveled transaction time would be lower) it still does not resolve the issue of the retailer having to close shop to make this trip.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The other option is that the BC could visit the retailer’s booth, collect the cash, and instantly deposit it in his or her account. The solution provider had discussions with many banks and agencies to explore the potential partnerships and implementation options.\r\n\r\nAlthough a traditional digital solution provider would typically provide pure payments and subsequent reconciliation solutions and related value additions, in this case, they went a step further and took on this additional responsibility to put in place an effective cash digitization mechanism for retailers. This new role was operationally intensive and came with its share of risks associated with cash. However, being able to showcase the benefits of going digital as well as testing the solution itself was critical at this stage.\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\" inline_style=\"font-style: normal;\" bg_image=\"26495\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"THE NEXT STAGE\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Undertaking the cash collection was operationally intensive for the solution provider and could be challenging when it came to scaling up. In order to test the cash collection mechanism, the solution provider began the process informally with around 6 retailers. They needed to have a dedicated trusted employee undertake cash collection every day for these retailers, which took anywhere between 1.5-2 hours. Additionally, the costs associated with the BC model were not sustainable, keeping in mind the margins of the stakeholders involved.\r\n\r\nDuring this time, the solution provider began engagements with a second distributor, who was keen to go digital. The solution provider began the adoption drive in a similar manner with one change – they would not undertake cash collection for the retailers but attempt to gain a retailer base without providing this assistance.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Again, to our surprise, there were early adopters who agreed to test the solution; some even visiting the banks multiple times in a week to make deposits. However, the banks levied cash deposit charges to these retailers, which they were not willing to bear. At this juncture, Saras Dairy came out with an agreement with one of the banks in Jaipur to open zero balance accounts for the dairy retailers without any charges on cash deposits. Some retailers agreed to open their account at this bank. However, the process was sometimes time-consuming.\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\" inline_style=\"font-style: normal;\" bg_image=\"26496\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"CONSUMER PAYMENTS: A BROKEN LINK\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In an ideal scenario, to pay the distributor digitally, the retailer should receive digital money from his consumers. Unfortunately, owing to the low margins as well as the ticket size of the transaction, the possible solutions are limited and achieving a critical mass of consumers paying digitally would be an uphill task. Behavior change is a slow process and as is seen from other sectors as well, complete digital in-flow is not likely, as a major proportion of transactions would still be in cash. In order to understand the kind of solution that would suit this high-frequency, low-value use case, Catalyst is designing a few small pilots for this segment.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]One of the solutions is UPI, given the retailers comfort with using this for the distributor payments as well as the bank-to-bank instant transfer feature. Other solutions being tested include biometric (Aadhar-based) payments and providing digital credit records or ‘Khaata’. We hope that these short experiments will provide a greater understanding of the type of solution suitable for this use case as well as insights into ultimately digitizing the entire dairy supply chain.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">TECHNICAL WRITERS:</span> Tunisha Kapoor and Preethi Rao</p>\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">ACKNOWLEDGEMENTS:</span> The authors would like to thank PayBee team.</p>\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/Dairy-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_1549446671807{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]', 'Digitizing Dairy B2B Supply Chain', '', 'inherit', 'closed', 'closed', '', '26471-revision-v1', '', '', '2019-02-06 09:51:16', '2019-02-06 09:51:16', '', 26471, 'https://cashlesscatalyst.org/media/26471-revision-v1/', 0, 'revision', '', 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
(39406, 20, '2018-11-19 07:06:38', '2018-11-19 07:06:38', '[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=\"39342\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner][vc_custom_heading text=\"DEVELOPING BUSINESS MODELS FOR MASS DIGITAL PAYMENTS IN INDIA\" 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/2018/11/Developing-Business-Models-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\" padding_bottom=\"50\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Developing business models for mass digital payments in a diverse country like India is a challenging task. It requires multi-stakeholder coordination to understand ‘adoption and acceptance’ challenges, develop and optimize innovative solutions and business models, answer the key question for merchants and consumers (what’s in it for me?), and consider future actions. But, above all, there is a need to design an easy-to-use digital payments interface that can cater to the needs and financial capabilities of the last mile target population.\r\n\r\nCATALYST, as a multi-stakeholder initiative, followed an ecosystem approach to identify and operationalize business models relevant to the Jaipur market. We selected Jaipur as the target geography, given the existing infrastructure to support digital uptake such as availability of power supply, internet connectivity,  penetration of mobile phones, along with the general appetite and interest among locals to learn more about digital payments.\r\n\r\nIn recent times, the success of business models has been based on creating flexible value webs as opposed to static value chains. This means that the roles and responsibilities of players in the business model are not necessarily linear, rigid, and well-defined from the start, but evolve during the course of the engagement.\r\n\r\nWe took inputs and guidance from the Government of Rajasthan, private sector organizations such as banks, fintech solution partners, merchant community and their distributors, and consumer households. While creating a blueprint for business models for mass digital payments, we had to keep in mind the requirements and contributions of these stakeholders.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_single_image image=\"39376\" img_size=\"full\" alignment=\"center\"][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\"][vc_column][vc_row_inner css=\".vc_custom_1542359333513{border-bottom-width: 25px !important;}\"][vc_column_inner][vc_custom_heading text=\"Payment digitization: the business use case\" 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=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"top\" css=\".vc_custom_1542359399750{padding-top: 30px !important;}\"][vc_column_inner][vc_single_image image=\"39371\" img_size=\"large\" alignment=\"center\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]As part of the value web of stakeholders contributing to widescale digital payment ecosystems, the solution provider who creates and runs the application should connect with both consumers and merchants. Secondly, the solution provider needs to achieve a critical mass of consumer uptake for the merchant to adopt the solution and, in turn, consumer uptake will be driven by merchant persuasion.  This dual edged sword makes it complicated for the solution provider to create a successful business model. There is also a need to match the business logic of the solution partner with that of other actors in the ecosystem who are key drivers of the model. Therefore, among the most important issues in creating sustainable business models in digital payment services is how to create value for consumers, and who to include in the value network.\r\n\r\nIn Jaipur, CATALYST helped solution partners to address these two major issues. We followed an ecosystem approach to support mechanisms such as creation of market linkages, governmental support, collection of ongoing field insights and advice on critical operational challenges. Following are the key questions that need to be answered to constitute a successful business model in mass digital payments based on our experience of working with solution partners on the ground in Jaipur since mid-2016:\r\n<ol>\r\n 	<li><strong>Who is the user?</strong> <em>Identification of the target segment and creating a niche or a ‘one-size-fit-all’ solution and customizing to specific segments</em>: One can choose to follow either of these routes for market acquisition.</li>\r\n 	<li><strong>Can the user self-onboard?</strong> <em>Assisted do-it-yourself for the Indian context</em>: Not just the rural but the urban poor too need handholding support to embrace technical evolutions. A fully automated system will not work in the Indian context. The solution provider should engage the merchant as the assisting agent and the focal point to nudge consumer adoption.</li>\r\n 	<li><strong>What are the hooks and ladders?</strong> <em>Levers to support scalability</em>: One thing that stood out from all our field insights is that digital payments alone cannot be a sustainable proposition. Alternate hooks such as credit, savings or incentives for uptake are necessary to encourage participation.</li>\r\n 	<li><strong>Where do we start?</strong> <em>B2B as a precursor to C2B</em>: Other very important drivers for merchants to volunteer to onboard consumers on digital payments are distributor buy-in and backing. A value proposition that has worked in different value chains such as FMCG, pharma and dairy in Jaipur is the digitization of B2B payments which invariably pushes the merchant to also encourage digital payments downwards in the value chain.</li>\r\n 	<li><strong>Why work with the government?</strong>  <em>Its blessing is an advantage if not a necessity</em>: It is clearly advantageous to have government support for the solution propagated. The best way to ensure that the ultimate consumer trusts the payment solution is if the government attests it.</li>\r\n 	<li><strong>What is the value proposition?</strong> <em>Consumer and/or merchant needs to see the value</em>: Ultimately the consumer is king and needs to see value in the solution beyond the freebies provided.  Merchants, on the other hand, need to make business sense of the whole proposition and ensure that going digital is profitable in order to engage the consumers. The solution partner needs to continuously engage with the merchants to make sure they understand this value.</li>\r\n 	<li><strong>Who are the partners?</strong> <em>Alignment of stakeholders in the ‘value web’ is key for value creation and scalability</em>: All stakeholders need to be aligned to the central value proposition of the solution provider and there should be clarity on each stakeholder’s return on investment.</li>\r\n</ol>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\" bg_image=\"7841\"][vc_column][vc_row_inner css=\".vc_custom_1542359342440{border-bottom-width: 25px !important;}\"][vc_column_inner][vc_custom_heading text=\"From the CATALYST Incubator program \" 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=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\" css=\".vc_custom_1542359410127{padding-top: 30px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]One of our partners in the Incubator program, PayNearby, has developed a full-fledged Aadhaar-based payment solution which converts any retail business into a micro ATM and payments solutions partner. While the primary earnings of the retailers come from the existing business, consumers are offered the option to make digital payments rather than pay in cash as they did traditionally.\r\n\r\nLet’s take the case of a photocopy shop. The primary income comes from photocopying and, possibly, a few add-on services such as binding, ticket booking, and so on. An additional service such as a digital payment solution, which has facilities like domestic money transfers, Aadhaar-based cash in and out, bills payments, etc., requires no major new infrastructure support (apart from a low cost biometric device which is provided free if a threshold of transactions are achieved) and can start within an hour of onboarding, facilitates extra income and converts merchants into Digital Pradhans.\r\n\r\nAnother case is that of our partner Fingpay which provides Aadhaar Enabled Payment Solutions (AEPS) for the last mile customer. It has successfully onboarded micro finance clients on its platform. In a typical scenario of a Microfinance Institution (MFI) model, borrowers, usually from joint liability groups or self-help groups, pay their monthly dues to the field agent in cash or through the group leader. However, with the Fingpay solution they will be able to transfer funds with just a biometric reading (AEPS). This use case has been the driver of this business case. While there are challenges due to connectivity and transaction failure, the value proposition considerably overrides the technical issues which are resolved due to measures undertaken by all stakeholders involved.[/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 css=\".vc_custom_1542359350051{border-bottom-width: 25px !important;}\"][vc_column_inner][vc_custom_heading text=\"The digital journey forward\" 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=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\" css=\".vc_custom_1542359421165{padding-top: 30px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]As we have observed from our field experiments, there are pertinent use cases whose relevance needs to be mapped, based on the target segments. The advancement and acceptance of digital solutions by different user groups will escalate when larger players include them into their core systems and create an easy access environment for end users. While there is an inherent need to provide financial access to every corner of the country, it requires support from larger financial institutions to take advantage of the innovation that has already been tested and leverage it to reach scale.[/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=\"https://cashlesscatalyst.org/wp-content/uploads/2018/11/Developing-Business-Models-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 width=\"1/2\"][vc_column_text letter_spacing=\"\"][starbox id=21][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text letter_spacing=\"\"][starbox id=22][/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]', 'Developing Business Models for Mass Digital Payments in India', 'Developing business models for mass digital payments in a diverse country like India is a challenging task. It requires multi-stakeholder coordination to understand ‘adoption and acceptance’ challenges, develop and optimize innovative solutions and business models, answer the key question for merchants and consumers (what’s in it for me?), and consider future actions. ', 'inherit', 'closed', 'closed', '', '39336-revision-v1', '', '', '2018-11-19 07:06:38', '2018-11-19 07:06:38', '', 39336, 'https://cashlesscatalyst.org/media/39336-revision-v1/', 0, 'revision', '', 0),
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(40529, 0, '2019-02-19 05:06:19', '2019-02-19 05:06:19', '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: AnthonyGries (IP: 93.190.139.35, 93.190.139.35)\r\nEmail: cmirno.vvp.a.vv@gmail.com\r\nURL: http://chastnoesex.com/\r\nComment: \r\nДомашнее порно видео [url=http://chastnoesex.com/]http://chastnoesex.com/[/url] - это секс обычных людей, снятый для телефон разве даже скрытую камеру, о которой участники действия не догадываются. Нередко интимное видео загружают в социальную сеть вконтакте. Искренние эмоции и мочь понимать секс реальных людей. Смотрите домашнее анал порно, как изменяют жены, или будто юноша следит за тем, который и с кем делает днем товарищ, временно он на работе. То, что всегда участники http://chastnoesex.com/porno/%D0%96%D0%B5%D0%BD%D1%8B/ - не профессиональные порноактеры, а частные лица - особо возбуждает. Хочется, дабы всегда было чистый по-настоящему - смотрите ролики из раздела домашнее русское порно онлайн.\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12041#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12041#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12041#wpbody-content\r\nCurrently 102 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-26', '', '', '2019-02-19 05:06:19', '2019-02-19 05:06:19', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-26/', 0, 'postman_sent_mail', '', 0),
(40534, 0, '2019-02-20 05:47:52', '2019-02-20 05:47:52', '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: Henryeruse (IP: 93.190.139.35, 93.190.139.35)\r\nEmail: kap.t.ooo.s@gmail.com\r\nURL: http://pornnax.com/\r\nComment: \r\nБлаготворение идти в земля страсти и порно, которое никого не оставит равнодушным! Нескончаемый круг бесплатного секса открывает для вас свои объятия. Здесь [url=http://pornnax.com/]http://pornnax.com/[/url] вы может встречать самое пикантное, горячее, хорошее порно для особенный вкус. У нас нагрузиться лучшее видео, эротические мини-фильмы онлайн, которые позволительно коситься торчком предварительно экраном компьютера и восторгаться предвкушением страстных оргий. Огромное разнообразие сюжетов о знойных девушках, которые не стесняются демонстрировать свои прекрасные тела и влажные через страсти отверстия, откроется тем, который пройдется сообразно разделам сайта. \r\n \r\nКаждый индивидуальность имеет свои сексуальные фантазии в жизни. И буде вам не удалось по какой-то причине их временно реализовать, то насладиться явный просмотром http://pornnax.com/categories/%D0%A0%D0%B0%D0%BA%D0%BE%D0%BC/ тех эротических моментов, которые беспричинно часто представлялись подобно явь, весь возможно. Эти сексуальные девушки становятся главными героинями новых приключений именно чтобы вас. Вы можете с удовольствием видеть ради их раскрепощенными действиями, которые заставляют веселиться, как они любят друг друга, обожают свое тело, демонстрируют вам огромные сиськи. Они метко справляются с любым членом и обожают секс-вечеринки. Они делают всетаки один чтобы того, дабы вы тоже получили удовольствие от просмотра самых свежих видео роликов. \r\nРовно любая река постоянно течет в море, беспричинно и наш сайт регулярно обновляется новыми развратными клипами. Большие сиськи, БДСМ, русский секс, оральные игры, самые огромные члены и лесбийские приключения ждут тех, который станет поклонником нашего сайта. \r\nВы зашли сюда, дабы получить удовольствие и обогатить свой опыт? Наше порно вас не разочарует, потому что оно заставит дрожать каждого быть просмотре очередного ролика.\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12042#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12042#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12042#wpbody-content\r\nCurrently 103 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-27', '', '', '2019-02-20 05:47:52', '2019-02-20 05:47:52', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-27/', 0, 'postman_sent_mail', '', 0),
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(31075, 19, '2018-10-08 11:32:27', '2018-10-08 11:32:27', '[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=\"31120\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner][vc_custom_heading text=\"DIGITIZING AN URBAN SLUM IN JAIPUR: HUNTING FOR MOBILE NETWORK TO GO DIGITAL\" 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 text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]ï¿½Thatï¿½s it?ï¿½\r\n\r\nThat was my first reaction when I made my first transaction using PhonePe (Indiaï¿½s Payment App).\r\n\r\nï¿½No need to be around a dedicated portal and keying in passwords and OTPs to authorize payments. No need to enter bank and/or card details. No need to follow the lengthy process of adding the bank details of every friend and waiting for hours. How amazing!ï¿½\r\n\r\nIt was easy to use, convenient, and more important, quick as it reduced the steps needed to complete my transaction.\r\n\r\nThatï¿½s all I needed to be a loyal customer of PhonePe.\r\n\r\nThe demands of urban, poor consumers are no different than mine. They too are seeking convenience, trust and ease of payment. But is going digital for the urban poor as easy as it is for us?\r\n\r\nThe answer is ï¿½not reallyï¿½!\r\n\r\nWe found many challenges from our experience working in Bhatta Basti, a poor urban locality in Jaipur, Rajasthan, where we have adopted a holistic approach towards going digital by bringing low-income individuals from poor households onto the formal banking system, promoting active bank usage and providing handholding support to early adopters of digital payment solutions.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_custom_heading text=\"The Trust Factor\" 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_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\"]First, trust is a big factor and trust comes with time. Urban poor have limited experience with the online world and expecting them to jump into the unknown with their hard-earned money is impractical, especially when they are not provided with enough handholding support to navigate the complexity of digital payment solutions.\r\n\r\nSecond, we must accept that digital payment solutions are not necessarily for everyone and we cannot gain market share with brute force.\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\"]While India has seen a phenomenal rise in the number of adults with a bank account (Global Findex Data: 80% of Indian adults have a bank account); half of those accounts are inactive (the share is 48% - the highest percentage of inactive accounts in the world). We found the same trend in Bhatta Basti as well.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"0\" padding_bottom=\"10\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][vc_separator el_width=\"30\" css=\".vc_custom_1528385545649{margin-top: 30px !important;}\"][vc_custom_heading text=\"Identifying the early adopters\" 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=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"1/4\"][vc_single_image image=\"31425\" img_size=\"full\"][/vc_column_inner][vc_column_inner width=\"3/4\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"] For some, the introduction to a digital payment solution itself was a value proposition to actively start using bank accounts. When we met Rahim, a young 21-year-old daily wage laborer, he had no idea about UPI (Unified Payments Interface). The ability to transfer money from his account to his friendsï¿½ account with no transaction fee was enough to convince him to actively use his bank account. He asked after a week if we could help him and his friends again with UPI onboarding as he had already forgotten the steps. It did not take much for us to realize that young individuals like Rahim are open to such payment options given that they are provided with the necessary handholding support.\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"3/4\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]But the story is different for 21-year-old Shabana whose bank account is controlled by her husband. She does not own a smartphone. Persuading her to go digital means we had to first get her husbandï¿½s permission, who happily obliged to download UPI app in his smartphone.\r\n\r\nShe declined our offer because she was happy with her ability to use cash whenever she could. She did not see value in actively using a bank account either.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"31446\" img_size=\"full\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"1/4\"][vc_single_image image=\"31173\" img_size=\"full\"][/vc_column_inner][vc_column_inner width=\"3/4\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]For Raj Kumar, a 40-year old vegetable vendor in Bhatta Basti, using a bank account and going digital seemed unrealistic given that he was accustomed to cash transactions with his customers and suppliers for decades. He would not break that trend unless his customers or suppliers demanded the same.\r\n\r\n[/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=\"Engage potential early adopters\" 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_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Our next step was to identify and engage more individuals like ï¿½Rahimï¿½ (early adopters) in Bhatta Basti who had positive attitude towards technology. We planned to provide guidance and handholding through the UPI onboarding process and help an account holder make the first transaction using any UPI application.\r\n\r\nInitial reaction from these individuals was inspiring as three out of four whom we contacted (100+ individuals) were willing to meet and learn from us. What followed was something we had not prepared for.\r\n\r\n[/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=\"Unexpected challenges\" 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_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\" el_id=\"content-img\"][vc_column_inner width=\"1/4\"][vc_single_image image=\"31100\" img_size=\"full\"][/vc_column_inner][vc_column_inner width=\"3/4\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]The biggest unexpected challenge was the network connectivity. Even though most of Jaipur city has good mobile data coverage, there are places like Bhatta Basti where the coverage is unreliable and almost non-existent. On average, it took 70-80 minutes for each UPI onboarding as we had to make each individual walk to the center of Bhatta Basti, where mobile data coverage is reliable. Additionally, it is a must to send SMS for mobile number verification that is linked to the bank account for UPI registration. In many cases, despite sending multiple SMSes (and being charged for each SMS), the account holders did not receive a One Time Password (OTP) from the issuer bank on their registered mobile number. Naturally, these individuals were disgruntled for losing money (bad customer experience) and it was next to impossible to persuade them to try again.\r\n\r\nThe other common problem was the same mobile number being linked to two or more bank accounts in the same bank. At the time of account opening, they were not informed that only one mobile number should be associated with one bank account holderï¿½s name for that bank.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"3/4\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]For example, other members of the household using the mobile number of the head of the household at the time of the account opening was found in many cases. In such a case, if the head of the household wants to register for UPI linked with a particular bank, he is not allowed given that the bank record shows the same mobile number registered for multiple account holders.\r\n\r\nWe recommended them to visit the nearby bank branch to change the mobile number, nonetheless, many chose not to go due to their perceived notion of bankï¿½s ï¿½customer unfriendly environmentï¿½ and the lengthy procedure (the banking agent was not authorized to update new mobile number in Bhatta Basti)\r\n\r\nLastly, many smartphone owners who had opened bank accounts had been waiting for a debit card for more than three months. One cannot create a UPI PIN without having their debit card details if he/she is registering for the first time. Account holders not receiving their ATM card were very common in Bhatta Basti. Hence, the UPI solution was not very useful for them even though some of them were interested in using the application.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"31101\" img_size=\"full\"][/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=\"Conclusion\" font_container=\"tag:h4|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_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 possible to go cashless in an urban poor locality like Bhatta Basti. The key is to identify and empower early adopters like ï¿½Rahimï¿½ who see value in such solutions and motivate them to influence others in the community. Nonetheless, these early adopters could be vocal spokespeople only if they have a great user experience implementing UPI. The current reality shows otherwise. If one must spend hours just to download an app, walk around hunting for network coverage, and fail to make any transaction due to network issues, that reality is far from ideal.\r\n\r\n[/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=\"\"]\r\n\r\n[starbox id=19]\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 </p><div style=\"display:none\"><a href=\"http://erektil-dysfunktion.com/tadalafil/kopa-vidalista-5mg-i-sverige.html\">Kopa Vidalista 5mg I Sverige</a></div> is an initiative seeded by an alliance between the Government of India &amp; USAID, <p></p><div style=\"display:none\"><a href=\"https://swaffhamkebab.co.uk/swaf/\" title=\"Vardenafil 20mg in Canada\">Vardenafil 20mg in Canada</a></div> to expand digital payments and 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\" <div style=\"display:none\"><a href=\"http://tmavytunel.cz/sildenafil/koupit-aurogra-100mg-v-ceske-republice-online.html\">Koupit Aurogra 100mg V Ceske republice Online</a></div> 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]', 'Digitizing an urban slum in Jaipur:  Hunting for mobile network to go digital', '', 'publish', 'open', 'open', '', 'hunting-mobile-network-go-digital', '', '', '2018-11-15 10:26:45', '2018-11-15 10:26:45', '', 0, 'https://cashlesscatalyst.org/?p=31075', 0, 'post', '', 0),
(31100, 12, '2018-10-08 11:50:01', '2018-10-08 11:50:01', '', 'mobile', '', 'inherit', 'closed', 'closed', '', 'mobile-3', '', '', '2018-10-08 11:50:01', '2018-10-08 11:50:01', '', 31075, 'https://cashlesscatalyst.org/wp-content/uploads/2018/10/mobile.jpg', 0, 'attachment', 'image/jpeg', 0),
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(39531, 20, '2018-12-04 20:40:13', '2018-12-04 20:40:13', '[vc_row content_placement=\"middle\" inner_container=\"no\" type=\"image\" bg_position_horizontal=\"center\" padding_top=\"96\" padding_bottom=\"96\" bg_image=\"12155\"][vc_column][vc_row_inner][vc_column_inner][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_repeat=\"repeat\" bg_attachment=\"true\" enable_parallax=\"false\" padding_bottom=\"0\" bg_image=\"10448\"][vc_column][vc_wp_custommenu nav_menu=\"63\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"image\" bg_repeat=\"repeat\" bg_attachment=\"true\" enable_parallax=\"false\" padding_top=\"30\" padding_left=\"0px\"][vc_column][vc_custom_heading text=\"Digitizing low income clusters\" font_container=\"tag:h3|font_size:22px|text_align:left|color:%23d11e3c|line_height:30px\" 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active banking and digital payment solutions\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Feducating-low-income-clusters-benefits-active-banking-digital-payment-solutions%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1536930607494{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Aug, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1536930566724{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1536558918464{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"25837\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/enroute-lakshya-power-savings-meet-unending-possibilities/\"][vc_custom_heading text=\"Enroute Lakshya – Power of savings to meet unending possibilities\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fenroute-lakshya-power-savings-meet-unending-possibilities%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1543956117052{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Nov, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1542371801874{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1536558925414{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"24541\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/gen-next-chit-funds-dusty-dabbas-digital-khaatas/\"][vc_custom_heading text=\"Gen-Next Chit Funds — From Dusty Dabbas To Digital Khaatas\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fcan-hunger-growth-lead-early-adoption-digital-payment-solutions%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1543405739416{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Nov, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1542371809798{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][/vc_row_inner][vc_separator css=\".vc_custom_1523043741148{margin-left: -15px !important;}\"][vc_custom_heading text=\"Credit as a hook\" font_container=\"tag:h3|font_size:22px|text_align:left|color:%23d11e3c|line_height:30px\" 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=\"\" css=\".vc_custom_1536559474462{margin-left: -15px !important;padding-right: 5% !important;padding-bottom: 0px !important;padding-left: 0% !important;}\"][vc_row_inner equal_height=\"yes\" gap=\"30\" el_class=\"lnContainer\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1542472436180{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"39391\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/can-hunger-growth-lead-early-adoption-digital-payment-solutions/\"][vc_custom_heading text=\"Can hunger for growth lead to early adoption of digital payment solutions?\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fcan-hunger-growth-lead-early-adoption-digital-payment-solutions%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1542472375458{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Aug, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1536399355023{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1542472472919{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"39390\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/trust-mpos-machines-biggest-concern-among-merchants-jaipur/\"][vc_custom_heading text=\"Trust in mPoS machines is the biggest concern among merchants in Jaipur\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Ftrust-mpos-machines-biggest-concern-among-merchants-jaipur%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1542472335381{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Aug, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1536399355023{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1536558918464{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"25869\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/digital-financial-inclusion-women/\"][vc_custom_heading text=\"Digital Financial Inclusion of Women\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fdigital-financial-inclusion-women%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1536559545656{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Aug, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1536399355023{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][/vc_row_inner][vc_separator css=\".vc_custom_1523043741148{margin-left: -15px !important;}\"][vc_row_inner gap=\"30\" el_class=\"lnContainer\"][vc_column_inner][vc_custom_heading text=\"eMitra\" font_container=\"tag:h3|font_size:22px|text_align:left|color:%23d11e3c|line_height:30px\" 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=\"\" css=\".vc_custom_1523043958090{margin-left: -15px !important;padding-right: 5% !important;padding-bottom: 0px !important;padding-left: 0% !important;}\" el_class=\"stories_tab\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" gap=\"30\" el_class=\"lnContainer\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1535623824149{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"25641\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/opportunity-growth-small-merchants-emitras/\"][vc_custom_heading text=\"Opportunity and growth for small merchants with eMitras\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fopportunity-growth-small-merchants-emitras%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1535623575523{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Aug, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1535623546451{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1521531052200{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"12641\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/tuning-sound-digital-transactions/\"][vc_custom_heading text=\"Tuning into the sound of digital transactions\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Ftuning-sound-digital-transactions%2F||target:%20_blank|\" el_class=\"lnContainerTitle\" css=\".vc_custom_1521532474337{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Jan, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1521209607767{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1520668172942{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"12643\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/digital-good-business-adds-value-consumers/\"][vc_custom_heading text=\"Digital is good for business, adds value for consumers\" font_container=\"tag:h3|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fdigital-good-business-adds-value-consumers%2F|||\" el_class=\"lnContainerTitle stories-title\" css=\".vc_custom_1521545162510{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Jan, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1521209635727{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1535623707278{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"12642\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/age-just-number-comes-digital-payments/\"][vc_custom_heading text=\"Age just a number when it comes to digital payments\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fage-just-number-comes-digital-payments%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1520668128753{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Jan, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1521209625065{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][/vc_row_inner][vc_separator css=\".vc_custom_1523043741148{margin-left: -15px !important;}\"][vc_custom_heading text=\"Digitizing small merchants\" font_container=\"tag:h3|font_size:22px|text_align:left|color:%23d11e3c|line_height:30px\" 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=\"\" css=\".vc_custom_1523043992655{margin-left: -15px !important;padding-right: 5% !important;padding-bottom: 0px !important;padding-left: 0% !important;}\"][vc_row_inner equal_height=\"yes\" gap=\"30\" el_class=\"lnContainer\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1531488051886{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"24540\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/unlocking-finance-small-merchants-digital-data-digital-credit/\"][vc_custom_heading text=\"Unlocking finance for small merchants — from digital data to digital credit\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Funlocking-finance-small-merchants-digital-data-digital-credit%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1531483887950{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"July, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1531483516928{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1531487725294{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13293\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/in-bhim-we-trust\"][vc_custom_heading text=\"In BHIM we trust\" 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alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/kaleidofinadvancing-financial-inclusion-data-analytics/\"][vc_custom_heading text=\"Kaleidofin… advancing financial inclusion through data analytics \" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fkaleidofinadvancing-financial-inclusion-data-analytics%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1525831377648{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"May, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fpaynearbytowards-hyperlocal-fintech-network%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1527852445833{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"May, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1525830797823{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% 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img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/why-i-tried-digital/\"][vc_custom_heading text=\"Why I tried digital – a dairy distributor’s story\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fwhy-i-tried-digital%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1539068936812{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"October, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1539068902865{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1521531052200{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13297\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/dairy_story/\"][vc_custom_heading text=\"Milking the benefits of digital payments - A journey towards finding simple solutions\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fdairy_story%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1521532536721{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"March, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1521531260119{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][/vc_row_inner][vc_separator css=\".vc_custom_1523043753078{margin-left: -15px !important;}\"][vc_custom_heading text=\"Mera Paper\" font_container=\"tag:h3|font_size:22px|text_align:left|color:%23d11e3c|line_height:30px\" 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=\"\" css=\".vc_custom_1523043981077{margin-left: -15px !important;padding-right: 5% !important;padding-bottom: 0px !important;padding-left: 0% !important;}\"][vc_row_inner equal_height=\"yes\" gap=\"30\" el_class=\"lnContainer\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1520668008633{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13295\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/merapaper_story/\"][vc_custom_heading text=\"Digitising Khatta system - Journey of MeraPaper\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|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=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fmerapaper_story%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1521532184955{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"March, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1521531260119{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/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=\"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_1526060837057{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative funded by USAID under the mSTAR Program, through funding provided to FHI 360. Housed within IFMR LEAD, the initiative aims 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]', 'User Stories', '', 'inherit', 'closed', 'closed', '', '12173-revision-v1', '', '', '2018-12-04 20:40:13', '2018-12-04 20:40:13', '', 12173, 'https://cashlesscatalyst.org/media/12173-revision-v1/', 0, 'revision', '', 0),
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(31446, 12, '2018-10-09 12:56:28', '2018-10-09 12:56:28', '', 'para-3', '', 'inherit', 'closed', 'closed', '', 'para-3', '', '', '2018-10-09 12:56:28', '2018-10-09 12:56:28', '', 31075, 'https://cashlesscatalyst.org/wp-content/uploads/2018/10/para-3.jpg', 0, 'attachment', 'image/jpeg', 0),
(41030, 0, '2019-03-25 17:53:47', '2019-03-25 17:53:47', '\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-23', '', '', '2019-03-25 17:53:47', '2019-03-25 17:53:47', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/form-fill-from-catalyst-website-23/', 0, 'postman_sent_mail', '', 0),
(41033, 0, '2019-03-25 17:55:10', '2019-03-25 17:55:10', '\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-26', '', '', '2019-03-25 17:55:10', '2019-03-25 17:55:10', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/form-fill-from-catalyst-website-26/', 0, 'postman_sent_mail', '', 0),
(41032, 0, '2019-03-25 17:54:31', '2019-03-25 17:54:31', '\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-25', '', '', '2019-03-25 17:54:31', '2019-03-25 17:54:31', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/form-fill-from-catalyst-website-25/', 0, 'postman_sent_mail', '', 0),
(41080, 0, '2019-04-01 05:37:45', '2019-04-01 05:37:45', '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-88', '', '', '2019-04-01 05:37:45', '2019-04-01 05:37:45', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-88/', 0, 'postman_sent_mail', '', 0),
(41100, 0, '2019-04-04 01:45:04', '2019-04-04 01:45:04', 'A new comment on the post \"Partner Update\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/latest-news/partner-update/\r\n\r\nAuthor: Belen (IP: 209.99.174.45, 209.99.174.45)\r\nEmail: lupitatuggle@gmx.net\r\nURL: http://sniptools.com/reviews/best-pdf-to-word-converters-2019/\r\nComment: \r\nI enjoy the report\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12090#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12090#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12090#wpbody-content\r\nCurrently 151 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-2', '', '', '2019-04-04 01:45:04', '2019-04-04 01:45:04', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-partner-update-2/', 0, 'postman_sent_mail', '', 0),
(40563, 0, '2019-02-28 18:55:19', '2019-02-28 18:55:19', '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: India (IP: 143.208.152.186, 143.208.152.186)\r\nEmail: romabushell@freenet.de\r\nURL: http://www.gdsfrdz.com\r\nComment: \r\nⲚortrh Pacific һakle spawn from January tߋ June.\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12049#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12049#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12049#wpbody-content\r\nCurrently 110 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-29', '', '', '2019-02-28 18:55:19', '2019-02-28 18:55:19', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-29/', 0, 'postman_sent_mail', '', 0),
(40566, 0, '2019-03-01 17:49:36', '2019-03-01 17:49:36', 'Hi Admin, We have received a request to subscribe new email address (enakship97@gmail.com) to receive emails from our website. Thank you.', 'New email subscription', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'new-email-subscription-4', '', '', '2019-03-01 17:49:36', '2019-03-01 17:49:36', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/new-email-subscription-4/', 0, 'postman_sent_mail', '', 0),
(33251, 12, '2018-08-12 06:54:15', '2018-08-12 06:54:15', '', 'Opinion | Strategies to digitize small businesses', 'Policymakers and implementers should leverage responsible digital finance to enable small businesses to realize their aspirations', 'publish', 'closed', 'open', '', 'opinion-strategies-digitize-small-businesses-2', '', '', '2018-10-17 06:54:41', '2018-10-17 06:54:41', '', 0, 'https://cashlesscatalyst.org/?p=33251', 10, 'post', '', 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
(32134, 12, '2018-10-11 14:13:45', '0000-00-00 00:00:00', '[vc_row padding_top=\"0\" padding_bottom=\"0\"][vc_column][vc_row_inner][vc_column_inner][rev_slider_vc alias=\"home-new\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#8e172b\" padding_top=\"0\" padding_bottom=\"0\"][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_single_image image=\"25921\" img_size=\"full\"][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"60px\" padding_bottom=\"30px\" bg_image=\"25922\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_column_text text_color=\"#ffffff\" letter_spacing=\"\"]CATALYST has a broader mission to help small business ecosystems access the benefits of digital finance. The Catalyst Incubator — Fintech for the Last Mile promotes innovative and scalable fintech solutions that address the needs of traditionally underserved market segments. It 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.\r\n\r\n[/vc_column_text][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\" bg_image=\"25928\"][vc_column width=\"1/2\" el_class=\"inc-img\"][vc_single_image image=\"26357\" img_size=\"full\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner css=\".vc_custom_1536761334507{margin-bottom: 30px !important;}\"][vc_column_inner][vc_column_text font_size=\"21px\" letter_spacing=\"\"]\r\n<p style=\"text-align:center\"><strong>The five shortlisted Start-Ups </strong></p>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763013113{margin-bottom: 20px !important;}\"][vc_single_image image=\"25997\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763036990{margin-bottom: 20px !important;}\"][vc_single_image image=\"25998\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763050875{margin-bottom: 20px !important;}\"][vc_single_image image=\"26000\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner el_class=\"smallcol\" width=\"1/3\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763080410{margin-bottom: 20px !important;}\"][vc_single_image image=\"25999\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1536763087673{margin-bottom: 20px !important;}\"][vc_single_image image=\"25996\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1536775202148{margin-top: 30px !important;}\"][vc_column_inner][kleo_button title=\"Know More\" href=\"https://cashlesscatalyst.org/incubator/\" style=\"custom\" position=\"center\" special=\"no\" icon=\"0\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" custom_background=\"#d11e3c\" custom_bg_hover=\"rgba(255,255,255,0.01)\" custom_text=\"#ffffff\" custom_text_hover=\"#d11e3c\" custom_border=\"#d11e3c\" custom_border_hover=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_image=\"7841\"][vc_column][vc_empty_space height=\"20px\"][vc_custom_heading text=\"RECENT ACTIVITIES\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23000000|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_empty_space height=\"35px\"][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\r\n[gallery tiles=\"yes\" columns=\"6\" size=\"full\" grids=\"Recent Activities\" small_screen_grid=\"Gallery-mobile\" image_size=\"full\" ids=\"26372,14395,25607,26374,26376,16459,13467,25535,13473\"]\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_empty_space height=\"40px\"][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" 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_1526057528383{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative funded by USAID under the mSTAR Program, through funding provided to FHI 360. Housed within IFMR LEAD, the initiative aims 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_1484047958306{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]', 'Home Test', '', 'draft', 'closed', 'closed', '', '', '', '', '2018-10-11 14:13:45', '2018-10-11 14:13:45', '', 0, 'https://cashlesscatalyst.org/?page_id=32134', 0, 'page', '', 0),
(36380, 20, '2018-10-26 15:41:02', '2018-10-26 15:41:02', '[vc_row content_placement=\"middle\" inner_container=\"no\" type=\"image\" bg_position_horizontal=\"center\" padding_top=\"96\" padding_bottom=\"96\" bg_image=\"12155\"][vc_column][vc_row_inner][vc_column_inner][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_repeat=\"repeat\" bg_attachment=\"true\" enable_parallax=\"false\" padding_bottom=\"0\" bg_image=\"10448\"][vc_column][vc_wp_custommenu nav_menu=\"63\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"30\"][vc_column][vc_custom_heading text=\"Studies\" font_container=\"tag:h3|font_size:22px|text_align:left|color:%23d11e3c|line_height:30px\" 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=\"\" el_class=\"tsubpage-title\" css=\".vc_custom_1540574080475{margin-left: -15px !important;}\"][vc_row_inner equal_height=\"yes\" gap=\"30\" el_class=\"lnContainer\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1538151517318{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"27343\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" link=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/Bhatta-Basti-Report.pdf\" css=\".vc_custom_1538143384753{margin-bottom: 14px !important;}\"][vc_custom_heading text=\"Limitless Opportunities, Limiting Constraints: Livelihoods, Money Management Patterns, and Digital Readiness of\r\nLow-income Households in an Urban Slum Area\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23161615|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=\"\" css=\".vc_custom_1538551365924{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2018%2F09%2FBhatta-Basti-Report.pdf||target:%20_blank|\"][vc_custom_heading text=\"September, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538143685902{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1538412153615{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"27417\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" link=\"https://cashlesscatalyst.org/wp-content/uploads/2018/10/catalyst_ethnography_report.pdf\" css=\".vc_custom_1538578800401{margin-bottom: 14px !important;}\"][vc_custom_heading text=\"Is Cash the King or do Digital Payment Solutions Lack Adequate Engagement of Potential Users?\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23161615|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=\"\" css=\".vc_custom_1538578812913{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2018%2F10%2Fcatalyst_ethnography_report.pdf||target:%20_blank|\"][vc_custom_heading text=\"<strong>Principal Investigators:</strong>\r\nShilpa Pandit\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538548167470{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"<strong>Researchers:</strong>\r\nPreethi Kannan, Ankur Gautam, Vedika Inamdar, Praveen\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538151959106{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"<strong>Technical Writer: </strong>\r\nDeepti Kc\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538584498785{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"September, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538143685902{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1527153512391{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"14385\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" link=\"https://cashlesscatalyst.org/wp-content/uploads/2018/07/Price-Report-Short-20-June-edited-min.pdf\" css=\".vc_custom_1532461737551{margin-bottom: 14px !important;}\"][vc_custom_heading text=\"Mapping the Merchant\'s Mind\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23161615|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=\"\" css=\".vc_custom_1538548045935{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2018%2F07%2FPrice-Report-Short-20-June-edited-min.pdf|||\"][vc_custom_heading text=\"<strong>Principal Investigators:</strong>\r\nBadal Malick and Rajesh Shukla\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538548187119{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"<strong>Co-investigators:</strong>\r\nMegha Shree and Vaisnavi Gnanasekaran\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538548198166{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"May, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1527153280067{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1521590392480{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"12922\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" link=\"https://cashlesscatalyst.org/wp-content/uploads/2018/07/Building-Hooks-and-Ladders-Book.pdf\" css=\".vc_custom_1532461446263{margin-bottom: 14px !important;}\"][vc_custom_heading text=\"Building Hooks and Ladders:\r\nA Case for Integrating Digital Payments and Lending to Small Merchants\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23161615|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=\"\" css=\".vc_custom_1538548093287{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2018%2F07%2FBuilding-Hooks-and-Ladders-Book.pdf|||\"][vc_custom_heading text=\"<strong>Investigators:</strong>\r\nJohn Arun, Ankur Gautam, IFMR LEAD\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1532461477104{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"March, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1523016048110{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"30\"][vc_column][vc_custom_heading text=\"Technical reports\" font_container=\"tag:h3|font_size:22px|text_align:left|color:%23d11e3c|line_height:30px\" 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=\"\" css=\".vc_custom_1540570135167{margin-left: -15px !important;padding-left: 0px !important;}\" el_class=\"tsubpage-title\"][vc_row_inner equal_height=\"yes\" gap=\"30\" el_class=\"lnContainer\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1538151517318{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"36391\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" link=\"https://cashlesscatalyst.org/wp-content/uploads/2018/10/Small-Merchant-Report.pdf\" css=\".vc_custom_1540569756762{margin-bottom: 14px !important;padding-left: 0px !important;}\"][vc_custom_heading text=\"ACCELERATING DIGITAL PAYMENT ACCEPTANCE AND USAGE BY SMALL MERCHANTS\r\nTESTING THE USABILITY OF DIGITAL PAYMENTS SOLUTIONS IN A MARKET CLUSTER IN JAIPUR\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23161615|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=\"\" css=\".vc_custom_1540569496595{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2018%2F10%2FSmall-Merchant-Report.pdf||target:%20_blank|\"][vc_custom_heading text=\"<strong>Technical Writer: </strong>\r\nPreethi Rao and Sunanda Singhal\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1540569563533{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"October, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1540569176758{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/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=\"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_1549446612777{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]', 'Studies & Reports', '', 'publish', 'closed', 'closed', '', 'studies-reports-2', '', '', '2019-02-06 09:50:22', '2019-02-06 09:50:22', '', 0, 'https://cashlesscatalyst.org/?page_id=36380', 0, 'page', '', 0),
(40374, 23, '2019-02-06 09:50:22', '2019-02-06 09:50:22', '[vc_row content_placement=\"middle\" inner_container=\"no\" type=\"image\" bg_position_horizontal=\"center\" padding_top=\"96\" padding_bottom=\"96\" bg_image=\"12155\"][vc_column][vc_row_inner][vc_column_inner][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_repeat=\"repeat\" bg_attachment=\"true\" enable_parallax=\"false\" padding_bottom=\"0\" bg_image=\"10448\"][vc_column][vc_wp_custommenu nav_menu=\"63\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"30\"][vc_column][vc_custom_heading text=\"Studies\" font_container=\"tag:h3|font_size:22px|text_align:left|color:%23d11e3c|line_height:30px\" 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=\"\" el_class=\"tsubpage-title\" css=\".vc_custom_1540574080475{margin-left: -15px !important;}\"][vc_row_inner equal_height=\"yes\" gap=\"30\" el_class=\"lnContainer\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1538151517318{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"27343\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" link=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/Bhatta-Basti-Report.pdf\" css=\".vc_custom_1538143384753{margin-bottom: 14px !important;}\"][vc_custom_heading text=\"Limitless Opportunities, Limiting Constraints: Livelihoods, Money Management Patterns, and Digital Readiness of\r\nLow-income Households in an Urban Slum Area\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23161615|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=\"\" css=\".vc_custom_1538551365924{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2018%2F09%2FBhatta-Basti-Report.pdf||target:%20_blank|\"][vc_custom_heading text=\"September, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538143685902{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1538412153615{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"27417\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" link=\"https://cashlesscatalyst.org/wp-content/uploads/2018/10/catalyst_ethnography_report.pdf\" css=\".vc_custom_1538578800401{margin-bottom: 14px !important;}\"][vc_custom_heading text=\"Is Cash the King or do Digital Payment Solutions Lack Adequate Engagement of Potential Users?\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23161615|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=\"\" css=\".vc_custom_1538578812913{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2018%2F10%2Fcatalyst_ethnography_report.pdf||target:%20_blank|\"][vc_custom_heading text=\"<strong>Principal Investigators:</strong>\r\nShilpa Pandit\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538548167470{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"<strong>Researchers:</strong>\r\nPreethi Kannan, Ankur Gautam, Vedika Inamdar, Praveen\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538151959106{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"<strong>Technical Writer: </strong>\r\nDeepti Kc\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538584498785{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"September, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538143685902{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1527153512391{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"14385\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" link=\"https://cashlesscatalyst.org/wp-content/uploads/2018/07/Price-Report-Short-20-June-edited-min.pdf\" css=\".vc_custom_1532461737551{margin-bottom: 14px !important;}\"][vc_custom_heading text=\"Mapping the Merchant\'s Mind\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23161615|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=\"\" css=\".vc_custom_1538548045935{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2018%2F07%2FPrice-Report-Short-20-June-edited-min.pdf|||\"][vc_custom_heading text=\"<strong>Principal Investigators:</strong>\r\nBadal Malick and Rajesh Shukla\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538548187119{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"<strong>Co-investigators:</strong>\r\nMegha Shree and Vaisnavi Gnanasekaran\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1538548198166{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"May, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1527153280067{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1521590392480{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"12922\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" link=\"https://cashlesscatalyst.org/wp-content/uploads/2018/07/Building-Hooks-and-Ladders-Book.pdf\" css=\".vc_custom_1532461446263{margin-bottom: 14px !important;}\"][vc_custom_heading text=\"Building Hooks and Ladders:\r\nA Case for Integrating Digital Payments and Lending to Small Merchants\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23161615|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=\"\" css=\".vc_custom_1538548093287{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2018%2F07%2FBuilding-Hooks-and-Ladders-Book.pdf|||\"][vc_custom_heading text=\"<strong>Investigators:</strong>\r\nJohn Arun, Ankur Gautam, IFMR LEAD\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1532461477104{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"March, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1523016048110{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"30\"][vc_column][vc_custom_heading text=\"Technical reports\" font_container=\"tag:h3|font_size:22px|text_align:left|color:%23d11e3c|line_height:30px\" 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=\"\" css=\".vc_custom_1540570135167{margin-left: -15px !important;padding-left: 0px !important;}\" el_class=\"tsubpage-title\"][vc_row_inner equal_height=\"yes\" gap=\"30\" el_class=\"lnContainer\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1538151517318{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"36391\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" img_link_target=\"_blank\" link=\"https://cashlesscatalyst.org/wp-content/uploads/2018/10/Small-Merchant-Report.pdf\" css=\".vc_custom_1540569756762{margin-bottom: 14px !important;padding-left: 0px !important;}\"][vc_custom_heading text=\"ACCELERATING DIGITAL PAYMENT ACCEPTANCE AND USAGE BY SMALL MERCHANTS\r\nTESTING THE USABILITY OF DIGITAL PAYMENTS SOLUTIONS IN A MARKET CLUSTER IN JAIPUR\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23161615|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=\"\" css=\".vc_custom_1540569496595{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2018%2F10%2FSmall-Merchant-Report.pdf||target:%20_blank|\"][vc_custom_heading text=\"<strong>Technical Writer: </strong>\r\nPreethi Rao and Sunanda Singhal\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1540569563533{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"October, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" 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=\"\" css=\".vc_custom_1540569176758{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/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=\"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_1549446612777{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\" 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(40616, 0, '2019-03-12 04:48:53', '2019-03-12 04:48:53', 'A new comment on the post \"Digitizing an urban slum in Jaipur:  Hunting for mobile network to go digital\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/catalyst-blog/hunting-mobile-network-go-digital/\r\n\r\nAuthor: ecixanatuvo (IP: 62.210.177.44, 62-210-177-44.rev.poneytelecom.eu)\r\nEmail: amajisi@fastermand.com\r\nURL: http://theprettyguineapig.com/amoxicillin/\r\nComment: \r\n[url=http://theprettyguineapig.com/amoxicillin/]18[/url] <a href=\"http://theprettyguineapig.com/amoxicillin/\" rel=\"nofollow\">Buy Amoxicillin Online</a> http://theprettyguineapig.com/amoxicillin/\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12068#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12068#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12068#wpbody-content\r\nCurrently 129 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: \"Digitizing an urban slum in Jaipur:  Hunting for mobile network to go digital\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-digitizing-an-urban-slum-in-jaipur-hunting-for-mobile-network-to-go-digital-5', '', '', '2019-03-12 04:48:53', '2019-03-12 04:48:53', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-digitizing-an-urban-slum-in-jaipur-hunting-for-mobile-network-to-go-digital-5/', 0, 'postman_sent_mail', '', 0),
(41148, 0, '2019-04-08 08:19:34', '2019-04-08 08:19:34', 'A new comment on the post \"The view from 10 months in..\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/view-10-months-in/\r\n\r\nAuthor: sherylsa11 (IP: 51.15.59.9, tor-exit-proxy.donategrid.com)\r\nEmail: renafe60@akira6210.kenta62.toptorrents.top\r\nURL: http://pornatarrs.pornatnetfkix.relayblog.com\r\nComment: \r\nHot new pictures each day\r\nhttp://fullxxxhdpic.adultsexlinks.xblognetwork.com/?danna \r\n\r\n unusual porn pics wrestlemaniac porn move beach porn galleries small chicks big guys porn japan porn jibs\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12114#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12114#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12114#wpbody-content\r\nCurrently 175 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-15', '', '', '2019-04-08 08:19:34', '2019-04-08 08:19:34', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-15/', 0, 'postman_sent_mail', '', 0),
(40573, 0, '2019-03-03 10:55:09', '2019-03-03 10:55:09', 'Autoptimize\'s cache size is getting big, consider purging the cache. Have a look at https://wordpress.org/plugins/autoptimize/faq/ to see how you can keep the cache size under control. (site: https://cashlesscatalyst.org)', 'Autoptimize cache size warning (https://cashlesscatalyst.org)', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'autoptimize-cache-size-warning-httpscashlesscatalyst-org-22', '', '', '2019-03-03 10:55:09', '2019-03-03 10:55:09', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/autoptimize-cache-size-warning-httpscashlesscatalyst-org-22/', 0, 'postman_sent_mail', '', 0),
(40633, 0, '2019-03-12 07:50:22', '2019-03-12 07:50:22', '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: Edwardhon (IP: 212.86.109.29, vm547332.had.su)\r\nEmail: edward246781@gmail.com\r\nURL: \r\nComment: \r\nGood pics , http://my-new-apartments.info/houses-la-palma-ca-378.html <a href=\"http://my-new-apartments.info/las-vegas-rental-assistance-373.html\" rel=\"nofollow\">las vegas rental assistance</a> http://my-new-apartments.info/house-rent-oakland-county-mi-478.html http://my-new-apartments.info/san-diego-property-management-680.html http://my-new-apartments.info/east-boston-massachusetts-real-estate-571.html <a href=\"http://my-new-apartments.info/san-antonio-tx-new-home-builders-898.html\" rel=\"nofollow\">san antonio tx new home builders</a> <a href=\"http://my-new-apartments.info/tucson-real-estate-listings-239.html\" rel=\"nofollow\">tucson real estate listings</a> <a href=\"http://my-new-apartments.info/apartments-baltimore-md-3.html\" rel=\"nofollow\">apartments baltimore md</a> http://my-new-apartments.info/phoenix-vacation-rentals-346.html http://my-new-apartments.info/apartments-rent-portland-area-84.html <a href=\"http://my-new-apartments.info/las-vegas-road-bike-rental-970.html\" rel=\"nofollow\">las vegas road bike rental</a> http://my-new-apartments.info/real-estate-houston-tx-319.html <a href=\"http://my-new-apartments.info/homes-rent-austin-tx-478.html\" rel=\"nofollow\">homes rent austin tx</a> <a href=\"http://my-new-apartments.info/oak-grove-apartments-portland-oregon-356.html\" rel=\"nofollow\">oak grove apartments portland oregon</a> <a href=\"http://my-new-apartments.info/stonehaven-east-apartments-charlotte-nc-reviews-698.html\" rel=\"nofollow\">stonehaven east apartments charlotte nc reviews</a> <a href=\"http://my-new-apartments.info/indianapolis-apartment-rentals-293.html\" rel=\"nofollow\">indianapolis apartment rentals</a> http://my-new-apartments.info/dallas-property-management-359.html <a href=\"http://my-new-apartments.info/condos-near-cameron-village-raleigh-nc-776.html\" rel=\"nofollow\">condos near cameron village raleigh nc</a> <a href=\"http://my-new-apartments.info/long-island-ny-condo-606.html\" rel=\"nofollow\">long island ny condo</a>\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12070#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12070#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12070#wpbody-content\r\nCurrently 131 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-6', '', '', '2019-03-12 07:50:22', '2019-03-12 07:50:22', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-6/', 0, 'postman_sent_mail', '', 0),
(40664, 0, '2019-03-13 05:04:37', '2019-03-13 05:04:37', 'Howdy! Your site at https://cashlesscatalyst.org has been updated automatically to WordPress 4.7.13.\n\nFor more on version 4.7.13, see the About WordPress screen:\nhttps://cashlesscatalyst.org/wp-admin/about.php\n\nWordPress 5.1.1 is also now available. Updating is easy and only takes a few moments:\nhttps://cashlesscatalyst.org/wp-admin/update-core.php\n\nIf you experience any issues or need support, the volunteers in the WordPress.org support forums may be able to help.\nhttps://wordpress.org/support/\n\nKeeping your site updated is important for security. It also makes the internet a safer place for you and your readers.\n\nThe WordPress Team\n', '[Catalyst] Your site has updated to WordPress 4.7.13', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-your-site-has-updated-to-wordpress-4-7-13', '', '', '2019-03-13 05:04:37', '2019-03-13 05:04:37', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-your-site-has-updated-to-wordpress-4-7-13/', 0, 'postman_sent_mail', '', 0),
(32230, 12, '2018-10-11 19:33:57', '2018-10-11 19:33:57', '', 'fintech', '', 'inherit', 'closed', 'closed', '', 'fintech-7', '', '', '2018-10-11 19:34:24', '2018-10-11 19:34:24', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2018/10/fintech.jpg', 0, 'attachment', 'image/jpeg', 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
(40094, 12, '2019-01-17 10:57:50', '2019-01-17 10:57:50', '[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=\"40093\"][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=\"MARKERS OF TRUST: RECREATING DIGITAL ECOSYSTEMS FOR WOMEN IN LOW-INCOME CLUSTERS\" 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/2019/01/Comic-learning-note-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=\"color\" bg_color=\"#ffffff\"][vc_column][vc_custom_heading text=\"INTRODUCTION\" 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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Ecosystems, by definition, are living systems of relationships. To create enabling digital ecosystems, the nuts and bolts of living relationships must be recreated digitally. While most efforts aimed at promotion of digital payments focus on the more tangible aspects such as digital infrastructure, payment solutions, gadget ownership, and internet penetration, among others, there is a soft aspect that more often than not goes unexplored. Efforts at financial inclusion in the past decade focused on getting these soft aspects right, and similar concerns remain relevant in the context of digital financial inclusion today.\r\n\r\nCATALYST, a user-centric digital finance innovation platform for the underserved last mile, carried out a program of research projects and operational initiatives centered on a low-income cluster, Bhatta Basti (Shastri Nagar) in Jaipur where infrastructure and financial capabilities were low and the role of informal community institutions strong, compared to other low-income market clusters where CATALYST carried out its operations. A part of immersive qualitative research focusing on women who work across four employment categories – old clothes vendors, bangle makers, tie & dye workers, and domestic workers – helped unpack existing ecosystems that these women operate in. This note focuses on markers of trust that would help in recreating a more inclusive and enabling digital ecosystem.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#c9213b\" enable_parallax=\"false\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"WOMEN IN BHATTA BASTI: THE CONTEXT\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=\"\" el_class=\"normal-style \"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner el_class=\"normal-style \"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Bhatta Basti comprises women (and households) who belong to the lower socioeconomic strata of society – about 70 percent of the 190 surveyed women belonged to the scheduled castes/tribes or other backward castes, while 13 percent were categorized as minorities. At an average age of 35 and most of them married, these women support their household incomes through their employment in the four categories mentioned above. The average Bhatta Basti woman is literate without formal schooling; the education level is fairly comparable to their male counterparts in the locality.\r\n\r\nAadhaar penetration in the surveyed sample was almost universal at 99 percent, followed by 87 percent coverage of voter IDs and 74 percent Bhamashah (the Government of Rajasthan benefits program) card holders. Eighty-nine percent respondents reported having bank accounts with 87 percent of those linked to Aadhaar numbers. While bank account access and linkage was high, consistent usage was low; more than half of the respondents indicated not using their accounts in the past month and very few using banks to deposit their own savings. Very limited information was available on receipt of government benefits due to poor recall and/or privacy concerns of respondents.\r\n\r\nWomen in Bhatta Basti actively engaged in the economic lives of their families. While access to cash for household payments varies by purchase type, most women reported making payments on their own for daily household items, while some women even made payments for big utility items, including refrigerators and electronics. These women also indicated their willingness to use their own mobile phones, and also adopt digital payments. However, all reported payments use cases so far remained cash-based.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#373b3c\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"ECOSYSTEM RELATIONSHIPS AND MARKERS OF TRUST\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In this context of women in lower-income households who earn a considerable income and make day-to-day financial decisions, gender dynamics also come into play as these groups tend to follow traditionally patriarchal customs. Certain norms and implicit rules preserve the fabric of their socioeconomic lifestyle which has to be taken into account if the prevalent ecosystem has to be recreated digitally. Two important heuristics relevant to the digital payment context, based on qualitative insights, are described below.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"Heuristic 1: Ownership matters\" 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 digital payments rely on digital infrastructure – bank accounts, smartphones and internet connection, primarily. Digital financial inclusion at an individual level means individual ownership of these.\r\n\r\nAs one would expect, going higher up on the economic ladder, the ownership of products and services becomes individual centered. Lower income means shared ownership to cut costs. Power comes into play and, typically, even if the household as a group owns two gadgets, it is clear that the member who holds more agency and autonomy will own the smartphone. It was found that this was not about gender alone but also dependent on occupations. Women selling old clothes, for example, held equal (if not more) agency and autonomy than men in the family than their counterparts who make bangles. This was because of the former had more independence in carrying out their businesses while the latter and were completely dependent on their agents.\r\n\r\n[/vc_column_text][vc_custom_heading text=\"Implications\" 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<ul>\r\n	<li>The gender context: If all digital products and services were, by default, centered on the use of smartphones and smartphone ownership was with men, the first step would be to strongly incentivize co-ownership for transactions alone. The man in the household, who might have ownership of the phone, needs to be convinced that he is a partner in progress of the household when the woman is able to use the phone for making digital payments through her accounts.</li>\r\n	<li>The occupation context: In occupations where women hold equal agency and autonomy, a targeted intensive handholding approach could be devised. Since women showed an overwhelming willingness to learn, identifying women who could be champions of digital payments and handhold others could be the way forward to gain trust and manage cultural sensitivity.</li>\r\n</ul>\r\n[/vc_column_text][vc_custom_heading text=\"Heuristic 2: Employer-employee relationships\" 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\"]There are also subtle but powerful dynamics between these women and their employers, particularly in cases where agency of the employee is important for the employer, for example, domestic workers. In a domestic worker-employer relationship, the pain-points for the employer, in most instances, are inconsistent patterns of leave and delay in work times. The pain-point for domestic workers lies in communicating about work delays and/or leave on time. The domestic workers earn an average of about INR 3,000 from about three to five employers. A digital solution can allow these women to consolidate payments from their employers, keep track of their schedules and leave, at the same time, keeping the employers informed about potential delays or leave.\r\n\r\n[/vc_column_text][vc_custom_heading text=\"Implications\" 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<ul>\r\n	<li>Rather than a narrow focus on digital payments, think of the employer-employee relationship as an opportunity for a bundle of services. Incentivize the employers, to encourage them to make digital payments to domestic workers. Incentivize workers by giving them talk time reimbursements, or variable pay based on leave taken or any such mutually fair benefit.</li>\r\n	<li>Link all payments and government transfers to the account being used for salary transfers. Many government benefit transfers go unnoticed and unused in the bank accounts because the beneficiaries do not use their accounts and are unaware of their balance.</li>\r\n</ul>\r\n[/vc_column_text][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#c9213b\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"MARKERS OF TRUST\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Looping back to the initial idea of an ecosystem as a system of living relationships, it is observed that even though these relationships are marked with inequality, the norms and variations are consistent and known to all the parties. Trust is therefore vital to the survival and growth of the ecosystem. In attempting to create a digital ecosystem, it is essential to recreate the markers of trust digitally as they are on the ground.\r\n\r\nThe first marker of trust is that all the parties in an existing relationship dynamic are equally invested. Otherwise they would not embrace an unknown system. In the case of working women, the dynamic not only includes men and the household, but also their employers, agents and the other economic actors that they interact with in the value chain. The two tricks of the trade above highlight how this dynamic works.\r\n\r\nThe second marker of trust would be an assurance against fear of the unknown. This could be achieved by intensive handholding and proactive grievance redressal. CATALYST’s efforts in Bhatta Basti with opening bank accounts and ATM pin generation were a good example of how this becomes an effective strategy in including the financially underserved.\r\n\r\nThe third marker of trust comes from incentivizing the early adopters in the community to become champions and role models where they help their peers through the digital journey. Information and communication from known and trusted sources would be a far more easy-sell for digital solutions than from the marketing and promotion activities of the solution itself.\r\n\r\nThe fourth marker of trust would be a process of community legitimization or validation. Since the community itself is a key stakeholder, the community should benefit. Public good or value must be created, in collective public terms, so as to not only endorse the digital ecosystem, but encourage it.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2019/01/Comic-learning-note-1.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_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]', 'MARKERS OF TRUST: RECREATING DIGITAL ECOSYSTEMS FOR WOMEN IN LOW-INCOME CLUSTERS', '', 'inherit', 'closed', 'closed', '', '40084-revision-v1', '', '', '2019-01-17 10:57:50', '2019-01-17 10:57:50', '', 40084, 'https://cashlesscatalyst.org/media/40084-revision-v1/', 0, 'revision', '', 0),
(40322, 12, '2019-01-28 06:25:28', '2019-01-28 06:25:28', '', 'Regulation Policy Report V4_Proofed V2', '', 'inherit', 'closed', 'closed', '', 'regulation-policy-report-v4_proofed-v2', '', '', '2019-01-28 06:25:28', '2019-01-28 06:25:28', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2019/01/Regulation-Policy-Report-V4_Proofed-V2.pdf', 0, 'attachment', 'application/pdf', 0),
(41127, 0, '2019-04-07 11:38:01', '2019-04-07 11:38:01', 'A new comment on the post \"Bob Dylan, Moneyball and Sandboxes- What’s brewing at the Policy team at Catalyst\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/bob-dylan-moneyball-sandboxes-whats-brewing-policy-team-catalyst/\r\n\r\nAuthor: Www.Fixingwindows8.Com (IP: 209.99.174.36, 209.99.174.36)\r\nEmail: geraldinegoethe@gmail.com\r\nURL: http://www.fixingwindows8.com/screen-recorder-software-review/\r\nComment: \r\nI like the article\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12102#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12102#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12102#wpbody-content\r\nCurrently 163 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: \"Bob Dylan, Moneyball and Sandboxes- What’s brewing at the Policy team at Catalyst\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-bob-dylan-moneyball-and-sandboxes-whats-brewing-at-the-policy-team-at-catalyst-4', '', '', '2019-04-07 11:38:01', '2019-04-07 11:38:01', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-bob-dylan-moneyball-and-sandboxes-whats-brewing-at-the-policy-team-at-catalyst-4/', 0, 'postman_sent_mail', '', 0),
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(38222, 20, '2018-11-02 18:11:29', '2018-11-02 18:11:29', '[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=\"38297\"][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=\"SEGMENTING LOW-INCOME CLUSTER FOR DIGITAL PAYMENT SOLUTIONS\" 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/2018/11/BB-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_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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Recognizing the critical role digital payments can play in deepening financial inclusion, Catalyst, a user-centric ‘digital finance innovation platform’ for the underserved last mile has rolled out multiple initiatives to help small business ecosystems (i.e. merchants, consumers, suppliers) to responsibly transition from an inefficient cash economy to digital payment platforms, using a targeted ecosystem approach. In collaboration with a mix of public and private partners, this multi-stage initiative includes, among other things, a set of research projects and operational initiatives centred on a low-income cluster, Bhatta Basti, in Jaipur City, where infrastructure and financial capabilities are lower while the role of informal community institutions is stronger. Our holistic approach towards going digital focuses on bringing low-income individuals from poor households onto the formal banking system, promoting active bank usage and providing handholding support to early adopters of digital payment solutions.[/vc_column_text][vc_single_image image=\"38267\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Our initial months were geared towards bringing low-income individuals from ultra-poor households onto the formal banking system and promoting active banking among them. By June 2018, along with our account opening implementing partner FIA Technology Partners, we had facilitated several account opening camps and opened accounts of 619 individuals. Since August 2018, we began the process of converting these account holders to users of digital payments and solutions.[/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=\"38300\"][vc_column][vc_custom_heading text=\"THE PROCESS OF SEGMENTING ACCOUNT HOLDERS\" 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][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]We called 619 account holders whose bank accounts were opened prior to June 2018 with objectives to understand account holders’ access to debit cards and smartphones. Our hypotheses as of August 2018 were that all 619 account holders should have received their debit cards; they should have generated the ATM PIN; and their bank-registered mobile number should have been active.\r\n\r\nThe study indicated only 22% of account holders had a PIN generated ATM card; 27% had received the ATM card but not generated a PIN; 25% had not received their ATM card; and 27% had already changed their mobile number and we were not able to reach them despite multiple attempts.\r\n\r\nThe above-mentioned results helped us divide our base into four tiers – each tier had account holders that were similar in specific ways as explained below.[/vc_column_text][vc_single_image image=\"38269\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1537937440359{padding-top: 30px !important;}\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<strong>Learning 1:</strong> Frequently changing mobile numbers have a significant impact on financial inclusion\r\n\r\nWe observed few trends in Bhatta Basti regarding usage of mobile numbers; mobile phone numbers are frequently changed due to network problems, insufficient funds in their mobile account and new plans offered by different service providers. For example, residents suggested some SIM cards did not have the ability to pick up mobile data signals in Bhatta Basti, hence, they upgraded to a better SIM card, which resulted in their receiving a new phone number\r\n\r\n<strong>Implications:</strong> If a mobile number registered with the bank account is already changed prior to the arrival of the debit card, the account holder cannot generate a PIN unless he/she visits the bank branch to change/update his/her mobile number. Likewise, Unified Payment Interface (UPI) on-boarding is not possible for smartphone owners if his/her SIM card is not registered with the bank account as he/she cannot receive interoperable OTP (Onetime Password) to activate the UPI account.\r\n\r\n<strong>Learning 2:</strong> Many zero balance account holders do not receive their debit card\r\n\r\nAt the time of the interview, 155 account holders (25%) reported not receiving their debit card.\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=\"lh22 ptext-justify \"]They were either waiting for the card or they had not collected it from the Customer Service Point (CSP). Only 58 of them (37% of 155 account holders) reported enquiring with the CSP or nearby bank branch.\r\n\r\n<strong>Implications:</strong> POS, online banking or UPI on-boarding is not possible without a debit card\r\n\r\n<strong>Learning 3:</strong> Many are not aware of how to generate an atm pin despite having a debit card\r\n\r\nAmongst these 619 account holders, 167 account holders (27%) reported not generating an ATM PIN despite collecting the card. When probed, 34% of these 167 account holders reported failure of the ATM machine when they tried to generate a PIN; 31% did not see value in generating a PIN due to lack of savings and fear of safety; and 29% were not aware of the procedure.\r\n\r\nThis result indicates that perceived risk, complexity, lack of knowledge and fear of safety and confidentiality are the major factors that discourage the use of ATMs.\r\n\r\n<strong>Implications:</strong> Internet banking, ATM withdrawals, or any other digital transactions using a debit card are not possible without an ATM PIN.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#c9213b\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"ACCOUNT HOLDERS’ ATTITUDES TOWARDS DEBIT CARDS\" 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=\"\" el_class=\"normal-style \"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner el_class=\"normal-style \"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]We conducted qualitative interviews with eight to ten account holders from each tier. The interaction focused on their attitudes towards banking services, in particular, debit cards. Below are the highlights of the interviews, which helped us identify their outlook and plan distinct interventions for each tier.[/vc_column_text][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n<p style=\"text-align: center;\">Attitudes towards ATMs</p>\r\n[/vc_column_text][vc_single_image image=\"38274\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#373b3c\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"DISCOVERING EARLY ADOPTERS\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]After differentiating account holders by their behaviours and the drivers behind them, we took the action needed in response to a tier-based intervention instead of ‘one-size-fits-all’ approach.\r\n\r\nWe designed the following intervention model ensuring each tier was covered, nonetheless, our focus was to provide handholding support to Tier 1 account holders as they were proactive about adopting debit cards without any external support and had positive attitudes towards technology used in banking. Our goal was to discover ‘early adopters’ amongst them, who are excited by the possibilities of new ideas and new ways of doing digital transactions.[/vc_column_text][vc_single_image image=\"38275\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]We adopted a one-to-one permission marketing strategy emphasizing on personalized interactions with 135 account holders. The prospect explicitly agreed in advance for the visit (they were provided with an option to opt-out at any point). Initial reaction was inspiring as three out of four account holders agreed to learn about UPI digital payment solutions from us.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#c9213b\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"ADVANTAGES OF IN PERSON HANDHOLDING SUPPORT\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n<ul>\r\n 	<li>High conversion rate because of high customer attention as message was customized and persuasive.</li>\r\n 	<li>Helpful in identifying different use cases. For example, we learned that ability to instantly recharge mobile phone was the most attractive feature of UPI applications for many account holders.</li>\r\n 	<li>Since we were interacting directly with account holders, apart from receiving a direct line of feedback from the account holders, we were able to track issues straightaway, which helped us address issues quickly. For example, other members of the household using the mobile number of the head of the household at the time of the account opening was found in many cases.</li>\r\n</ul>\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=\"lh22 ptext-justify\"]In such a case, if the head of the household wants to register for UPI linked with a particular bank, he is not allowed given that the bank record shows the same mobile number registered for multiple account holders. We recommended account holders visit the nearby bank branch and update their account with their new mobile number; and informed the banking agent to encourage residents of Bhatta Basti to provide unique mobile number for new bank accounts, if possible.\r\n<ul>\r\n 	<li>The approach was also effective in developing the relationship with identified innovators.</li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#373b3c\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"CHALLENGES FACED DURING HANDHOLDING PROCESS\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n<ul>\r\n 	<li>The process was labour intensive and had a high cost (five field staff for approximately 30 business days to visit 101 account holders).</li>\r\n 	<li>The process was time consuming. On average, a field staff spent two hours introducing the features, convincing the account holders to use the applications, downloading and registering the UPI app. Since we focused on our list of 135 account holders only (and did not go off of the list), field staff had to take several visits to complete one on-boarding.</li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n<ul>\r\n 	<li>Direct approach was also perceived as inconvenient or obtrusive for some account holders due to cultural sensitivity. Our field team appeared at times that were inconvenient for female account holders. For example, when any account belonged to a woman or a young child, we had to wait for the head of the household to return home as their presence was mandatory because of the nature of the transaction-related conversation.</li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#cf1e3b\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"CONCLUDING REMARKS\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The task of getting new account holders on board for digital payment requires the highest degree of handholding support through the onboarding process. For example, less tech-savvy users struggle at different stages with the onboarding process of any UPI application and are tripped up by the jargon such as “UPI PIN”, “VPA”. Hence, there is a clear need for greater guidance and handholding through the on-boarding process and in helping an account holder make the first transaction. Nevertheless, providing handholding support to everyone is not possible.\r\n\r\nTherefore, it is important to break down the market into specific, targetable segments. In our case, we used the account holders’ access to debit card and attitude towards banking technology as a basis for segmentation. The majority of (more than 75%) account holders did not have a PIN generated debit card; there were only 135 individuals who had collected their debit card and visited the nearby bank branch that is approximately 2 KM away to generate PIN on their own. Instead of targeting all 619 individuals, which would have been an expensive and ineffective exercise, we created a list of 135 tier 1 individuals and reached out to them, who reciprocated positively.\r\n\r\nOur biggest learning from this exercise was such a mechanism allowed us to precisely identify early adopters of UPI applications and, we were able to contact them with specific needs. This was also the best way for us to use our resources more effectively and make better strategic marketing decisions to convert early adopters to influencers in the community. For example, our experience on UPI on-boarding (detailed information will be covered in subsequent learning notes) indicated that the early adopters have huge potential to act as ambassadors for other segments to drive adoption of digital payment solutions if provided with enough support and followed up regularly. With the early adopters, this segment has potential to act as ambassadors for other segments and this should be therefore considered as one of the most important factors to determine the usability and sustainability of making transactions digitally in a low-income community. We observed some early adopters were proactive about informing their friends about UPI applications in order to onboard them so that early adopters could take advantage of cashback offers offered by some of the financial service providers for referrals.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">TECHNICAL WRITERS:</span> Deepti Kc</p>\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">ACKNOWLEDGEMENTS:</span> The author would like to thank Arbind Vishwakarma for his insights and operational support.</p>\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/11/BB-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_1549446554828{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]', 'SEGMENTING LOW-INCOME CLUSTER FOR DIGITAL PAYMENT SOLUTIONS', '', 'publish', 'closed', 'closed', '', 'segmenting-low-income-cluster-digital-payment-solutions', '', '', '2019-02-06 09:49:25', '2019-02-06 09:49:25', '', 0, 'https://cashlesscatalyst.org/?page_id=38222', 0, 'page', '', 0);
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(40373, 23, '2019-02-06 09:49:25', '2019-02-06 09:49:25', '[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=\"38297\"][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=\"SEGMENTING LOW-INCOME CLUSTER FOR DIGITAL PAYMENT SOLUTIONS\" 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/2018/11/BB-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_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_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Recognizing the critical role digital payments can play in deepening financial inclusion, Catalyst, a user-centric ‘digital finance innovation platform’ for the underserved last mile has rolled out multiple initiatives to help small business ecosystems (i.e. merchants, consumers, suppliers) to responsibly transition from an inefficient cash economy to digital payment platforms, using a targeted ecosystem approach. In collaboration with a mix of public and private partners, this multi-stage initiative includes, among other things, a set of research projects and operational initiatives centred on a low-income cluster, Bhatta Basti, in Jaipur City, where infrastructure and financial capabilities are lower while the role of informal community institutions is stronger. Our holistic approach towards going digital focuses on bringing low-income individuals from poor households onto the formal banking system, promoting active bank usage and providing handholding support to early adopters of digital payment solutions.[/vc_column_text][vc_single_image image=\"38267\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Our initial months were geared towards bringing low-income individuals from ultra-poor households onto the formal banking system and promoting active banking among them. By June 2018, along with our account opening implementing partner FIA Technology Partners, we had facilitated several account opening camps and opened accounts of 619 individuals. Since August 2018, we began the process of converting these account holders to users of digital payments and solutions.[/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=\"38300\"][vc_column][vc_custom_heading text=\"THE PROCESS OF SEGMENTING ACCOUNT HOLDERS\" 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][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]We called 619 account holders whose bank accounts were opened prior to June 2018 with objectives to understand account holders’ access to debit cards and smartphones. Our hypotheses as of August 2018 were that all 619 account holders should have received their debit cards; they should have generated the ATM PIN; and their bank-registered mobile number should have been active.\r\n\r\nThe study indicated only 22% of account holders had a PIN generated ATM card; 27% had received the ATM card but not generated a PIN; 25% had not received their ATM card; and 27% had already changed their mobile number and we were not able to reach them despite multiple attempts.\r\n\r\nThe above-mentioned results helped us divide our base into four tiers – each tier had account holders that were similar in specific ways as explained below.[/vc_column_text][vc_single_image image=\"38269\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1537937440359{padding-top: 30px !important;}\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<strong>Learning 1:</strong> Frequently changing mobile numbers have a significant impact on financial inclusion\r\n\r\nWe observed few trends in Bhatta Basti regarding usage of mobile numbers; mobile phone numbers are frequently changed due to network problems, insufficient funds in their mobile account and new plans offered by different service providers. For example, residents suggested some SIM cards did not have the ability to pick up mobile data signals in Bhatta Basti, hence, they upgraded to a better SIM card, which resulted in their receiving a new phone number\r\n\r\n<strong>Implications:</strong> If a mobile number registered with the bank account is already changed prior to the arrival of the debit card, the account holder cannot generate a PIN unless he/she visits the bank branch to change/update his/her mobile number. Likewise, Unified Payment Interface (UPI) on-boarding is not possible for smartphone owners if his/her SIM card is not registered with the bank account as he/she cannot receive interoperable OTP (Onetime Password) to activate the UPI account.\r\n\r\n<strong>Learning 2:</strong> Many zero balance account holders do not receive their debit card\r\n\r\nAt the time of the interview, 155 account holders (25%) reported not receiving their debit card.\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=\"lh22 ptext-justify \"]They were either waiting for the card or they had not collected it from the Customer Service Point (CSP). Only 58 of them (37% of 155 account holders) reported enquiring with the CSP or nearby bank branch.\r\n\r\n<strong>Implications:</strong> POS, online banking or UPI on-boarding is not possible without a debit card\r\n\r\n<strong>Learning 3:</strong> Many are not aware of how to generate an atm pin despite having a debit card\r\n\r\nAmongst these 619 account holders, 167 account holders (27%) reported not generating an ATM PIN despite collecting the card. When probed, 34% of these 167 account holders reported failure of the ATM machine when they tried to generate a PIN; 31% did not see value in generating a PIN due to lack of savings and fear of safety; and 29% were not aware of the procedure.\r\n\r\nThis result indicates that perceived risk, complexity, lack of knowledge and fear of safety and confidentiality are the major factors that discourage the use of ATMs.\r\n\r\n<strong>Implications:</strong> Internet banking, ATM withdrawals, or any other digital transactions using a debit card are not possible without an ATM PIN.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#c9213b\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"ACCOUNT HOLDERS’ ATTITUDES TOWARDS DEBIT CARDS\" 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=\"\" el_class=\"normal-style \"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner el_class=\"normal-style \"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]We conducted qualitative interviews with eight to ten account holders from each tier. The interaction focused on their attitudes towards banking services, in particular, debit cards. Below are the highlights of the interviews, which helped us identify their outlook and plan distinct interventions for each tier.[/vc_column_text][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n<p style=\"text-align: center;\">Attitudes towards ATMs</p>\r\n[/vc_column_text][vc_single_image image=\"38274\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#373b3c\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"DISCOVERING EARLY ADOPTERS\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]After differentiating account holders by their behaviours and the drivers behind them, we took the action needed in response to a tier-based intervention instead of ‘one-size-fits-all’ approach.\r\n\r\nWe designed the following intervention model ensuring each tier was covered, nonetheless, our focus was to provide handholding support to Tier 1 account holders as they were proactive about adopting debit cards without any external support and had positive attitudes towards technology used in banking. Our goal was to discover ‘early adopters’ amongst them, who are excited by the possibilities of new ideas and new ways of doing digital transactions.[/vc_column_text][vc_single_image image=\"38275\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]We adopted a one-to-one permission marketing strategy emphasizing on personalized interactions with 135 account holders. The prospect explicitly agreed in advance for the visit (they were provided with an option to opt-out at any point). Initial reaction was inspiring as three out of four account holders agreed to learn about UPI digital payment solutions from us.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#c9213b\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"ADVANTAGES OF IN PERSON HANDHOLDING SUPPORT\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n<ul>\r\n 	<li>High conversion rate because of high customer attention as message was customized and persuasive.</li>\r\n 	<li>Helpful in identifying different use cases. For example, we learned that ability to instantly recharge mobile phone was the most attractive feature of UPI applications for many account holders.</li>\r\n 	<li>Since we were interacting directly with account holders, apart from receiving a direct line of feedback from the account holders, we were able to track issues straightaway, which helped us address issues quickly. For example, other members of the household using the mobile number of the head of the household at the time of the account opening was found in many cases.</li>\r\n</ul>\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=\"lh22 ptext-justify\"]In such a case, if the head of the household wants to register for UPI linked with a particular bank, he is not allowed given that the bank record shows the same mobile number registered for multiple account holders. We recommended account holders visit the nearby bank branch and update their account with their new mobile number; and informed the banking agent to encourage residents of Bhatta Basti to provide unique mobile number for new bank accounts, if possible.\r\n<ul>\r\n 	<li>The approach was also effective in developing the relationship with identified innovators.</li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#373b3c\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"CHALLENGES FACED DURING HANDHOLDING PROCESS\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n<ul>\r\n 	<li>The process was labour intensive and had a high cost (five field staff for approximately 30 business days to visit 101 account holders).</li>\r\n 	<li>The process was time consuming. On average, a field staff spent two hours introducing the features, convincing the account holders to use the applications, downloading and registering the UPI app. Since we focused on our list of 135 account holders only (and did not go off of the list), field staff had to take several visits to complete one on-boarding.</li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"normal-style\" width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]\r\n<ul>\r\n 	<li>Direct approach was also perceived as inconvenient or obtrusive for some account holders due to cultural sensitivity. Our field team appeared at times that were inconvenient for female account holders. For example, when any account belonged to a woman or a young child, we had to wait for the head of the household to return home as their presence was mandatory because of the nature of the transaction-related conversation.</li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#cf1e3b\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"CONCLUDING REMARKS\" 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=\"\" el_class=\"normal-style \"][/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 el_class=\"normal-style\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The task of getting new account holders on board for digital payment requires the highest degree of handholding support through the onboarding process. For example, less tech-savvy users struggle at different stages with the onboarding process of any UPI application and are tripped up by the jargon such as “UPI PIN”, “VPA”. Hence, there is a clear need for greater guidance and handholding through the on-boarding process and in helping an account holder make the first transaction. Nevertheless, providing handholding support to everyone is not possible.\r\n\r\nTherefore, it is important to break down the market into specific, targetable segments. In our case, we used the account holders’ access to debit card and attitude towards banking technology as a basis for segmentation. The majority of (more than 75%) account holders did not have a PIN generated debit card; there were only 135 individuals who had collected their debit card and visited the nearby bank branch that is approximately 2 KM away to generate PIN on their own. Instead of targeting all 619 individuals, which would have been an expensive and ineffective exercise, we created a list of 135 tier 1 individuals and reached out to them, who reciprocated positively.\r\n\r\nOur biggest learning from this exercise was such a mechanism allowed us to precisely identify early adopters of UPI applications and, we were able to contact them with specific needs. This was also the best way for us to use our resources more effectively and make better strategic marketing decisions to convert early adopters to influencers in the community. For example, our experience on UPI on-boarding (detailed information will be covered in subsequent learning notes) indicated that the early adopters have huge potential to act as ambassadors for other segments to drive adoption of digital payment solutions if provided with enough support and followed up regularly. With the early adopters, this segment has potential to act as ambassadors for other segments and this should be therefore considered as one of the most important factors to determine the usability and sustainability of making transactions digitally in a low-income community. We observed some early adopters were proactive about informing their friends about UPI applications in order to onboard them so that early adopters could take advantage of cashback offers offered by some of the financial service providers for referrals.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">TECHNICAL WRITERS:</span> Deepti Kc</p>\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">ACKNOWLEDGEMENTS:</span> The author would like to thank Arbind Vishwakarma for his insights and operational support.</p>\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/11/BB-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_1549446554828{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]', 'SEGMENTING LOW-INCOME CLUSTER FOR DIGITAL PAYMENT SOLUTIONS', '', 'inherit', 'closed', 'closed', '', '38222-revision-v1', '', '', '2019-02-06 09:49:25', '2019-02-06 09:49:25', '', 38222, 'https://cashlesscatalyst.org/media/38222-revision-v1/', 0, 'revision', '', 0),
(41166, 0, '2019-04-09 12:35:00', '2019-04-09 12:35:00', 'A new comment on the post \"The view from 10 months in..\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/view-10-months-in/\r\n\r\nAuthor: brigitteng18 (IP: 66.222.153.25, d66-222-153-25.abhsia.telus.net)\r\nEmail: britneytw1@sho3010.kaede99.besttorrents.top\r\nURL: http://download.porn.bestsexyblog.com\r\nComment: \r\nCollege Girls Porn Pics\r\nhttp://mature.dating.relayblog.com/?juliana \r\n\r\n father and daughter porn vide porn on fur young blonde college porn romance porn videos mature tatooed porn star\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12122#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12122#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12122#wpbody-content\r\nCurrently 183 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-103', '', '', '2019-04-09 12:35:00', '2019-04-09 12:35:00', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-103/', 0, 'postman_sent_mail', '', 0),
(41167, 0, '2019-04-09 15:40:14', '2019-04-09 15:40:14', 'A new comment on the post \"The view from 10 months in..\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/view-10-months-in/\r\n\r\nAuthor: leannafl1 (IP: 95.128.43.164, exit-1.fr.tor.aquaray.com)\r\nEmail: davewe1@kaede63.besttorrents.top\r\nURL: http://lesbian.tubes.instakink.com\r\nComment: \r\nBrowse over 500 000 of the best porn galleries, daily updated collections\r\nhttp://sexyshopitalia.teennegligee.fetlifeblog.com/?montana \r\n\r\n urban porn stars hundu porn porn stars web pages gree porn videos interracial creampie amateur free tube porn\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12123#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12123#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12123#wpbody-content\r\nCurrently 184 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-104', '', '', '2019-04-09 15:40:14', '2019-04-09 15:40:14', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-104/', 0, 'postman_sent_mail', '', 0),
(39568, 12, '2018-12-12 12:11:56', '2018-12-12 12:11:56', '[vc_row][vc_column][vc_column_text letter_spacing=\"\"]<p style=\"color: #d06728;\">Fintech for Inclusion of the Last Mile: Experiences from the frontline of innovation</p>\r\n<p style=\"color: #d06728;\"><strong>Date:</strong> December 11, 2018</p>\r\n<p style=\"color: #d06728;\"><strong>Time:</strong> 2 pm to 3:30 pm</p>\r\n<p style=\"color: #d06728;\"><strong>Location:</strong> Hotel Ashok, New delhi</p>\r\n<p>As part of its mission to identify sustainable templates for small business ecosystems to access the benefits of digital finance, CATALYST set up a pioneering incubator program, \'Fintech For the Last Mile\', to promote companies that have reimagined financial solutions for the underserved. The program provided five unique and innovative companies with financial, technical and operational support, and integrated their work into its ‘Digital Payment Lab’ in Jaipur.</p>\r\n<p>The session presented PayNearby, PayBee, Bix42, Fingpay and Kaleidofin; the 5 shortlisted start-ups that participated in the first batch of CATALYST\'s \'Fintech For the Last Mile\' Incubator program. The companies jointly span different segments – including merchants, their suppliers, and their customers – as well as different payment types (e.g., UPI, Aadhaar Pay, Immediate Payment Service (IMPS)) and value-added services.</p>\r\n<p>Focusing on \'fintech for inclusion of the last mile\', the discussions highlighted the opportunities and barriers associated with addressing the needs of the underserved segment. </p>\r\n<p>Stephen Rasmussen, Head-Inclusive Markets, CGAP moderated the livewire session.  The discussions drew attention on the fact that while the infrastructure to build inclusive financial services has recently been upgraded with the roll-out of Unified Payments Interface (UPI), Aadhaar and India Stack, the power of these systems delivered to end users at scale is yet to be seen. Innovations in both digital products and mechanisms to distribute them are needed. There also remains scope to build deeper and more targeted workflows on top of an increasingly commoditized transaction layer. These software, hardware or, in certain cases, operational solutions can generate tangible and immediate value to users – be it through analytics, access to financing, new revenue generating opportunities, or streamlined business processes.</p>\r\n<p>The five shortlisted start-ups passionately shared their inspirations and innovations that made them reimagine financial solutions for mass digital payments, especially for the low-income ecosystems. </p>\r\n<p style=\"color: #d06728;\"><strong>The five shortlist start-ups</strong></p>\r\n<p><strong>PayNearby</strong> enables existing corner shops to become digital financial service hubs, thereby creating the world’s largest hyperlocal fintech network.</p>\r\n<p><strong>Fingpay</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 mobile.</p>\r\n<p><strong>Merapaper</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][/vc_row]', 'Technical Session at Inclusive Finance India Summit 2018', 'Technical Session at Inclusive Finance India Summit 2018</br>\r\nDate: December 11, 2018</br>\r\nTime: 2 pm to 3:30 pm', 'inherit', 'closed', 'closed', '', '39512-revision-v1', '', '', '2018-12-12 12:11:56', '2018-12-12 12:11:56', '', 39512, 'https://cashlesscatalyst.org/media/39512-revision-v1/', 0, 'revision', '', 0),
(33265, 12, '2018-10-15 10:24:43', '2018-10-15 10:24:43', '', 'fintechs', '', 'inherit', 'closed', 'closed', '', 'fintechs', '', '', '2018-10-15 10:24:43', '2018-10-15 10:24:43', '', 26174, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/fintechs.jpg', 0, 'attachment', 'image/jpeg', 0),
(40609, 0, '2019-03-11 09:31:53', '2019-03-11 09:31:53', '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: Katiespise (IP: 79.173.83.153, nat-79-173-83-153.gtn.ru)\r\nEmail: edealblog677@tutamail.com\r\nURL: \r\nComment: \r\nThe greatest discounts in history for you and your loved ones now on all the goods ... \r\nhttp://h29h8.tk\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12065#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12065#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12065#wpbody-content\r\nCurrently 126 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-60', '', '', '2019-03-11 09:31:53', '2019-03-11 09:31:53', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-60/', 0, 'postman_sent_mail', '', 0),
(40613, 0, '2019-03-12 02:49:33', '2019-03-12 02:49:33', 'A new comment on the post \"Digitizing an urban slum in Jaipur:  Hunting for mobile network to go digital\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/catalyst-blog/hunting-mobile-network-go-digital/\r\n\r\nAuthor: ooboyewupfof (IP: 5.248.226.148, 5-248-226-148.broadband.kyivstar.net)\r\nEmail: izaciire@ijemail.com\r\nURL: http://theprettyguineapig.com/amoxicillin/\r\nComment: \r\n[url=http://theprettyguineapig.com/amoxicillin/]Amoxicillin For Sale[/url] <a href=\"http://theprettyguineapig.com/amoxicillin/\" rel=\"nofollow\">Amoxicillin</a> http://theprettyguineapig.com/amoxicillin/\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12066#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12066#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12066#wpbody-content\r\nCurrently 127 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: \"Digitizing an urban slum in Jaipur:  Hunting for mobile network to go digital\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-digitizing-an-urban-slum-in-jaipur-hunting-for-mobile-network-to-go-digital-2', '', '', '2019-03-12 02:49:33', '2019-03-12 02:49:33', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-digitizing-an-urban-slum-in-jaipur-hunting-for-mobile-network-to-go-digital-2/', 0, 'postman_sent_mail', '', 0),
(40614, 0, '2019-03-12 03:14:35', '2019-03-12 03:14:35', 'A new comment on the post \"Digitizing an urban slum in Jaipur:  Hunting for mobile network to go digital\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/catalyst-blog/hunting-mobile-network-go-digital/\r\n\r\nAuthor: eboboli (IP: 5.248.226.148, 5-248-226-148.broadband.kyivstar.net)\r\nEmail: usubuuta@ijemail.com\r\nURL: http://theprettyguineapig.com/amoxicillin/\r\nComment: \r\n[url=http://theprettyguineapig.com/amoxicillin/]Buy Amoxil 500mg[/url] <a href=\"http://theprettyguineapig.com/amoxicillin/\" rel=\"nofollow\">Amoxicillin</a> http://theprettyguineapig.com/amoxicillin/\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12067#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12067#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12067#wpbody-content\r\nCurrently 128 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: \"Digitizing an urban slum in Jaipur:  Hunting for mobile network to go digital\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-digitizing-an-urban-slum-in-jaipur-hunting-for-mobile-network-to-go-digital-3', '', '', '2019-03-12 03:14:35', '2019-03-12 03:14:35', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-digitizing-an-urban-slum-in-jaipur-hunting-for-mobile-network-to-go-digital-3/', 0, 'postman_sent_mail', '', 0),
(40619, 0, '2019-03-12 05:09:11', '2019-03-12 05:09:11', 'A new comment on the post \"Digitizing an urban slum in Jaipur:  Hunting for mobile network to go digital\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/catalyst-blog/hunting-mobile-network-go-digital/\r\n\r\nAuthor: ujorupo (IP: 62.210.177.44, 62-210-177-44.rev.poneytelecom.eu)\r\nEmail: owowibuwu@fastermand.com\r\nURL: http://theprettyguineapig.com/amoxicillin/\r\nComment: \r\n[url=http://theprettyguineapig.com/amoxicillin/]Amoxicillin No Prescription[/url] <a href=\"http://theprettyguineapig.com/amoxicillin/\" rel=\"nofollow\">Amoxicillin 500 Mg</a> http://theprettyguineapig.com/amoxicillin/\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12069#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12069#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12069#wpbody-content\r\nCurrently 130 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: \"Digitizing an urban slum in Jaipur:  Hunting for mobile network to go digital\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-digitizing-an-urban-slum-in-jaipur-hunting-for-mobile-network-to-go-digital-8', '', '', '2019-03-12 05:09:11', '2019-03-12 05:09:11', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-digitizing-an-urban-slum-in-jaipur-hunting-for-mobile-network-to-go-digital-8/', 0, 'postman_sent_mail', '', 0);
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(40611, 20, '2019-03-11 13:22:18', '2019-03-11 13:22:18', '[vc_row type=\"image\" enable_parallax=\"false\" parallax_speed=\"0.4\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"5/6\"][vc_custom_heading text=\"MEET THE TEAM\" 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_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\n<p style=\"text-align: center;\">We are a lean, entrepreneurial and motivated team of thinkers and doers.</p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#ffffff\" enable_parallax=\"false\" parallax_speed=\"0.4\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\" el_class=\"pmember-container\" css=\".vc_custom_1529596508622{margin-bottom: 40px !important;}\"][vc_column_inner el_class=\"pteam-inner-container\" width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1518614010448{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"sharon\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Sharon.png\" alt=\"Sharon\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"sharon\"> SHARON BUTEAU </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"DIRECTOR\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1518614043137{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Sharon has over 15 years of experience in the field of research and international development. As the Executive Director of IFMR LEAD, Sharon leads the strategic direction of the organization and provides oversight to research, policy and capacity building engagements.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link phide\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/sudhir181279?trk=nav_responsive_tab_profile\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"pteam-inner-container\" width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1486996932974{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"badal-malick\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/01.png\" alt=\"badal malick\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"badal-malick\"> BADAL MALICK </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"PRINCIPAL INNOVATION OFFICER\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1517295221489{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Trained in physics and economics, Badal loves to tinker with big ideas. He is passionate about disruptive innovation and large-scale change, which is reflected in his professional trajectory.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://in.linkedin.com/in/badalmalick\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"pteam-inner-container\" width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1529590589472{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"jayshree\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/06/Jayshree.png\" alt=\"Jayshree Venkatesan\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"jayshree\">JAYSHREE VENKATESAN</a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"LEAD, CUSTOMER CENTRICITY\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529585990865{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Jayshree is an experienced professional with a demonstrated history of working in the international development finance industry.</p>\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"pteam-inner-container\" width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1529586207341{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"varinder\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/06/varinder.png\" alt=\"Varinder Kaur\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"varinder\">VARINDER KAUR</a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"LEAD, SOCIAL &amp; BEHAVIORAL INSIGHTS\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529586254597{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Varinder has over 14 years of experience in brand strategy and social issues across India and UK.</p>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" el_class=\"pmember-container\"][vc_column_inner el_class=\"pteam-inner-container\" width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1518586346804{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"preethi-rao\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2017/02/Preeti-Rao.png\" alt=\"Preeti-Rao\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"preethi-rao\"> PREETHI RAO </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"LEAD, LAB PROJECTS\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529595576084{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Preethi holds a Master’s in Business Administration (MBA) from IFMR Business School, with a focus on finance and marketing. In her free time, Preethi likes to write poetry, read fiction and watch movies.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/preethi22/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"pteam-inner-container\" width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1529586736076{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"john-arun\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/06/john.png\" alt=\"John Arun\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"john-arun\"> JOHN VICTOR ARUN KUMAR </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"LEAD, INCUBATOR PROJECTS\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529586694470{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">John manages the accelerator’s operations at Catalyst and also oversees the organization’s MSME and Entrepreneurship research.</p>\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"pteam-inner-container\" width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1518612943485{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"mandar\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Mandar.png\" alt=\"mandar\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"mandar\"> MANDAR KAGADE </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"LEAD, POLICY\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529587013594{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">A policy wonk and a lawyer (in that order), Mandar Kagade is focussed on development of regulatory policy in connection with the payments ecosystem. He is passionate about exploring intersections of finance and policy.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/mandar-kagade-4a171333/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"pteam-inner-container\" width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1487055436382{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"vaisnavi\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2017/01/Vaisnavi-Gnanasekaran.png\" alt=\"VAISNAVI GNANASEKARAN\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"vaisnavi\"> VAISNAVI G </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"MONITORING &amp; EVALUATION SPECIALIST\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1485770270198{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Passionate about designing solutions that address the needs of the underserved sections of society, Vaisnavi’s journey in the development sector started through volunteer opportunities.</p>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\n<div id=\"sharon\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SHARON BUTEAU</h2>\n<h3 class=\"pteam-member-position\">DIRECTOR</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sharon\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nSharon has extensive experience in building important partnerships between academia, donor agencies, policymakers and practitioners to promote evidence-based policy making and practice at scale. She has hands-on experience in research and analytics, and is a Principal Investigator on several IFMR LEAD studies as well. Prior to joining IFMR LEAD, Sharon was an Economist with the Analysis Group in Montreal, Canada.\n\nSharon holds a Master’s Degree in Social Research Methods from the London School of Economics &amp; Political Science, and a Master’s Degree in Economics from the Université du Québec à Montréal.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"jayshree\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">JAYSHREE VENKATESAN</h2>\n<h3 class=\"pteam-member-position\">LEAD, CUSTOMER CENTRICITY</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sharon\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nPreviously, she has worked with CGAP and Accion on customer centric business models for low-income segments. As the CEO of IFMR Mezzanine Finance, Jayshree managed an investment portfolio of USD 2 million with zero default. A graduate from MDI Gurgaon, Jayshree is a Chevening Fellow from King\'s College, London.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"varinder\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">VARINDER KAUR</h2>\n<h3 class=\"pteam-member-position\">LEAD, SOCIAL &amp; BEHAVIORAL INSIGHTS</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sharon\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nPreviously, she has worked with BBC Media Action in India to lead their research on an HIV/AIDS project funded by the Bill and Melinda Gates Foundation. Varinder also has significant experience in strategy design and impact evaluations of corporate social responsibility projects, with organizations such as Unilever, Marico and Reliance.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"john-arun\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">JOHN VICTOR ARUN KUMAR</h2>\n<h3 class=\"pteam-member-position\">LEAD, INCUBATOR PROJECTS</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sharon\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nHis core areas of work are project design, implementation and monitoring &amp; evaluation. John has 10 years of experience in the Development Sector and has worked at Tata Consultancy Services on an Entrepreneurship Development program. John holds a Master\'s degree from the Madras School of Social Work and a Bachelor\'s in Computer Science from the Madras university.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"badal-malick\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">BADAL MALICK</h2>\n<h3 class=\"pteam-member-position\">PRINCIPAL INNOVATION OFFICER</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"badal-malick\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nBadal has a deep industry background in financial services, digital payments and online commerce. Previously, he was a Vice President at Snapdeal where he built an Omnichannel business from ground up; a Group Product Head at Intuit’s Quickbooks business unit where he crafted new fintech products; an Engagement Manager at McKinsey’s financial services and payments practice where he advised Fortune 50 companies on innovation strategies; and an Economist at the World Bank\'s Water and Sanitation Program where he led a ground breaking a new initiative focused on public accountability in urban service delivery.\n\nHe is a technology enthusiast, an active angel investor, and once played for a NYC based rock band. He has an MBA from the Yale School of Management.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"alok\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ALOK GUPTA</h2>\n<h3 class=\"pteam-member-position\">DIRECTOR, INCUBATION</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"alok\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nAlok has 22 years of global experience in fintech solutions. He was COO, India, at World Resources Institute where he set up global work in urban innovation and tools. Before that he was member of the startup team at UIDAI driving program strategy and implementation of Aadhaar – the world’s largest biometric-based online identity platform for 1.2 billion Indians -- enabling roll out of the Aadhaar-based payment platform and effective delivery of welfare services. Prior to UIDAI, he took two fintech ventures to the Indian market as a founding team member. Earlier, he worked in the U.S. for 10 years with Trend Micro, managing global IT strategy, and DiamondCluster, developing and executing digital strategies for Fortune 50 companies.\n\nHe has an Electronic Commerce management degree from Tepper School of Business, Carnegie Mellon University and Bachelors in Electrical Engineering from Delhi College of Engineering.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"sudhir\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SUDHIR KUMAR</h2>\n<h3 class=\"pteam-member-position\">ECOSYSTEM OPERATIONS LEADER</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sudhir\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nPreviously, while with the Small Industries Development Bank of India (SIDBI), Sudhir headed its Financial Inclusion initiative (Poorest States Inclusive Growth program) in Madhya Pradesh and Uttar Pradesh, focusing on increasing access to financial services among poor households. As an entrepreneur, Sudhir initiated his own Urban Microfinance Company called MITRA in Rajasthan, providing financial services to urban poor. He has also worked closely with industry associations on policy and advocacy issues and with client-beneficiaries in urban and rural Rajasthan to generate linkages with livelihoods.\n\nHe is a postgraduate from the Indian Institute of Forest Management (IIFM).\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"parvinder\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">PARVINDER SINGH</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE DIRECTOR, LEARNING &amp; COMMUNICATIONS</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"parvinder\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nPassionate about evidence-based conversations and storytelling, he has co-created community media initiatives and digital platforms for public engagement for inclusion and social change. Parvinder has worked with some of the leading development organizations like ActionAid, Oxfam, Christian Aid International, Plan International and Landesa among others. He loves contributing to the on-going public discourses through his writings and has been published in academic journals and international news media.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"sapna\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SAPNA BHARATH</h2>\n<h3 class=\"pteam-member-position\">MANAGER, PARTNERSHIPS &amp; IMPLEMENTATION</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sapna\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nSapna has been a pilot team member at global investment banks such as Goldman Sachs, Lehman Brothers and Nomura, and their set up and start up story in India. With over 11 years of experience across transition, operations and execution of large-scale business transformation programs, her noteworthy engagements involved the roll out of new bank branch set ups for equity and fixed income businesses in Mauritius, Singapore, Indonesia and China. In her last stint at Nomura, she was instrumental in front-to-back program management, business analysis and user-acceptance testing for projects such as delivery of India FII Proprietary Trading business roll-out. Prior to Nomura, Sapna was a business analyst at Goldman Sachs and established a center of excellence reconciliation platform for Lehman’s global businesses.\n\nSapna holds a Bachelor in Commerce Degree, an MBA from the Symbiosis University, Pune and is Six Sigma Green Belt certified.\n\n</div>\n</div>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#ffffff\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"0\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\" el_class=\"pmember-container\"][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1507728744809{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"aditya\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/aditya.png\" alt=\"ADITYA DESHPANDE\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"aditya\"> ADITYA DESHPANDE </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"STRATEGY AND PRODUCT ARCHITECT\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1507728928331{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">An Engineer and a Post-Graduate in management, Aditya is passionate about startups and has spent a large portion of his professional journey in the ecosystem.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/aditya-deshpande-083716a/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1529594073143{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"gaurav-s\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Gaurav.png\" alt=\"GAURAV SINGHAL \" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"gaurav-s\">GAURAV SINGHAL </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"BUSINESS ANALYST\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529587612824{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Passionate about fintech and use of blockchain to improve regulation tech, Gaurav loves designing the efficient ways to streamline processes. prior catalyst he was a co-founder at Authentic – An India stack based E-KYC and authentication startup.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/gsinghal680/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1529587858454{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"sunil\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Sunil-Gurubhagwatla.png\" alt=\"sunil\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"sunil\"> SUNIL GURUBHAGWATLA </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"SENIOR PROGRAM ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529587889025{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Sunil is an engineer turned management student. He has worked in the areas of brand alliance in ecommerce and as a Business Intelligence consultant for several domains.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/sunil-gurubhagwatla-42a9791a\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1529588438599{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"tunisha\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Tunisha-Kapoor-n.png\" alt=\"tunisha\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"tunisha\"> TUNISHA KAPOOR </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"OPERATIONS ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529588466193{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Tunisha is passionate about policy and regulatory research and has had professional exposure in a diverse set of sectors including business responsibility, insurance and energy.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://in.linkedin.com/in/tunisha-kapoor-9a117851\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\n<div id=\"mandar\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">MANDAR KAGADE</h2>\n<h3 class=\"pteam-member-position\">POLICY CONSULTANT</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"mandar\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nBefore Catalyst, Mandar worked with the Finance Research Group at IGIDR (Mumbai) on a Paypal-funded assignment authoring and disseminating policy research, op-ed pieces and curating round tables towards policy advocacy. Earlier, he was at the Bharti Institute Of Public Policy (Indian School Of Business) where he published financial regulatory research in banking, payments and fintech. A graduate of Columbia Law School and Govt. Law College (Mumbai) he practiced Transaction Law in an earlier life, before the policy bug bit him. When he is not thinking about pushing payments, you would find him watching Ken Burns\' documentaries or Quentin Tarantino creations.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"aditya\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ADITYA DESHPANDE</h2>\n<h3 class=\"pteam-member-position\">STRATEGY AND PRODUCT ARCHITECT</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"aditya\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nFor over 10 years, Aditya has handled a wide range of roles including consulting, academics and entrepreneurship. Previously, he was working with GREX as Associate Vice President and handled the ground-up development of debt products for the company. He was responsible for many key partnerships for GREX and also handled various special initiatives, as part of the PMO team earlier. After a brief stint with Satyam as WRAP consultant, he moved to academics and subsequently became part of the entrepreneurship ecosystem while working with a Pune based VC firm and later his own startup in the incubation space.\n\nHe is an Electronics Engineer and also has a PG Diploma in Management from IMT, Nagpur. He loves working on product ideas and building strong partnerships for organizational growth. Aditya enjoys reading and conquering difficult terrain with his prized 4×4 in his free time. He also enjoys traveling, photography and horse riding.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"arbind\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ARBIND KUMAR</h2>\n<h3 class=\"pteam-member-position\">OPERATIONS ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"arbind\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nArbind has a post graduate degree in E-Governance from IIM Indore, and has an experience of over 6 years in business consulting and ICT Solutions for various Government Ministries and Departments. At his last held designation as a Consultant for Business Process &amp; IT and an Advisory Consultant, he has been a key driver of business strategy, transformation and operational improvement. He has also been associated with National Institute for Smart Government, Bluefrog mobile technologies Pvt. Ltd and IIM Indore. Prior to joining Catalyst, he has been a part of\n\nPrior to his association with Catalyst, he was a part of the National Institute for Smart Government (NISG) New Delhi, where he was associated with various Ministries and Govt. departments, which included Controller General of Defence (MoD), Department of Finance (Govt. of Bihar), Election Commission of India, Ministry of Labour and Employment, Punjab Governance Reforms and others. During his free time, Arbind enjoys cooking, designing, watching movies and trying new cuisines.\n\nHis involvement with various Ministries and Govt. Departments are in the area of Rural Development, Health and Treasury Management. As a consultant, Arbind was involved in designing workflow-based business processes for the Government to create transparency, and as a Management Consultant, he was a part of conceptualizing, designing, and monitoring the E- Governance Project.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"aparajita\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">APARAJITA BHARTI</h2>\n<h3 class=\"pteam-member-position\">COMMUNICATIONS AND MEDIA CONSULTANT</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"aparajita\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nAparajita was one of the four Indians selected for the Faiths Act Fellowship by the Tony Blair Faith Foundation. Prior to that, she was a LAMP Fellow and worked as a Legislative Assistant to Mr. N.K. Singh, Member of Parliament, Rajya Sabha. Most recently, she was Manager, Corporate Affairs and Communications at Snapdeal where she was responsible for media messaging and engagement, in addition to providing inputs on policy and legislative issues concerning the digital commerce sector. She also developed and managed partnerships with many state governments for Snapdeal.\n\nA street theatre artist in her undergraduate years, Aparajita was instrumental in seeding ‘Manthan’ – an annual congregation of street theatre student groups to spread social awareness across India. Manthan has now expanded to 15+ towns and cities.\n\nShe is an alumnus of Oxford University and College of Business Studies at Delhi University.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"rohit\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ROHIT KUMAR</h2>\n<h3 class=\"pteam-member-position\">POLICY CONSULTANT</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"rohit\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">Rohit served as the Head of Policy and Research at the office of Mr. Baijayant ‘Jay’ Panda, Member of Parliament (MP) in Lok Sabha. Prior to that, he has worked for several years with PRS Legislative Research, the Indian think-tank that supports MPs across party lines with research on legislative and policy issues. At PRS, Rohit also developed ‘MP Track’, a tool that is widely used by civil society to track engagement of MPs in Parliament. Before shifting to policy, he was a strategy consultant with the Boston Consulting Group (BCG).Rohit is an alumnus of the Harvard Kennedy School of Government and Indian Institute of Technology-Bombay.</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"vaisnavi\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">VAISNAVI GNANASEKARAN</h2>\n<h3 class=\"pteam-member-position\">MONITORING &amp; EVALUATION SPECIALIST</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"vaisnavi\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nVaisnavi has worked with various international organizations on research projects focused on the development sector while undertaking her Masters degree. She worked at the United Nations Population Fund Headquarters in New York where she was involved in designing and coordinating evaluation studies of global projects. During this time, she worked with UNICEF and UN Women on evaluation of a jointly operated project to address female genital mutilation in Sub-Saharan Africa. Prior to this, she worked with faculty at the University of Alberta on projects ranging from safe needle exchange programs for addicts to special after-school programs for at-risk children. As a volunteer, Vaisnavi worked with sex workers’ union and human rights activist groups. She specializes on solutions that have a strong data analytical backbone in the development sector.\n\nVaisnavi recently completed her Master degree in Public Health from University of Alberta, Canada.\n\n</div>\n</div>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#ffffff\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"0\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\" el_class=\"pmember-container\"][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1529589323846{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"arbind\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2017/08/Arbind_kumar.png\" alt=\"arbind\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"arbind\"> ARBIND KUMAR </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"OPERATIONS ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529589390712{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Passionate about developing and improving e- Governance systems across multiple levels of society, Arbind loves to design user friendly workflow-based business processes for the Government to create transparency.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/arbind-kumar-b0a5bb67/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1529588667655{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"darshan\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Darshan-singh.png\" alt=\"Darshan Singh\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"darshan\"> DARSHAN SINGH </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"OPERATIONS ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529588692226{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Prior to Darshan\'s association with Catalyst, he was associated with Indian Institute of Management (Indore), for entrepreneurship and enterprise development programs.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"http://www.linkedin.com/in/darshan-singh-09907777181\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1529588787401{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"siddharth\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Siddhanth_Dhankhar.png\" alt=\"siddharth\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"siddharth\"> SIDDHARTH DHANKHAR </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"PROGRAM ASSOCIATE \" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529588814331{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Siddharth enjoys mathematics and all things data. He joins Catalyst from the partnerships &amp; strategic initiatives team at Snapdeal. He loves swimming, squash and anything that gets him outdoors.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/siddharthdhankhar\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1529591448130{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"preeti-bawa\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Preeti-Bawa.png\" alt=\"preeti bawa\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"preeti-bawa\"> PREETI BAWA </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ADMIN MANAGER\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529591479636{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">With flawless administrative skills, Preeti is passionate about her work; conducting events is her strength. She feels good to provide support to her teammates.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://in.linkedin.com/in/tunisha-kapoor-9a117851\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\n<div id=\"arindam\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ARINDAM JANA</h2>\n<h3 class=\"pteam-member-position\">DATA SCIENTIST</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"arindam\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nArindam has developed analytical frameworks for problems ranging from performance and strategy evaluation in Twenty20 cricket, to identifying possible locations for the new capital of the bifurcated state of Andhra Pradesh, to assessing credit risk in data-poor lending networks, to proving cartel and monopolistic behaviour in markets. Arindam also has a keen interest in developing data pipelines, with a specific interest in data quality and value add – in his time with Indian Institute for Human Settlements, he was instrumental in developing a spatiotemporal database panning sources from Census of India to remote sensing imagery from NASA and ISRO. In his free time, Arindam loves following long form cricket from across the globe, cooking, and analysing films.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"preeti-bawa\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">PREETI BAWA</h2>\n<h3 class=\"pteam-member-position\">ADMINISTRATIVE OFFICER</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"preeti-bawa\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nPreeti previously worked with FHI360 where she gained exposure to the development sector. Earlier, at Jayanita Exports, she was exposed to work with global buyers for handicraft export and import. Before that, at Alar Impex Pvt. Ltd., she was working with the Belgian government on importing dredging machines from Belgium. Her first experience was interesting: she started her career with SSC as an invigilator for initial paper checks.\n\nShe has an Economics degree from Delhi University, and an Office Management and Secretarial Diploma from YMCA as well as an Operational Management diploma from MIT.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"sunil\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SUNIL GURUBHAGWATLA</h2>\n<h3 class=\"pteam-member-position\">SENIOR PROGRAM ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sunil\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nSunil has worked with Snapdeal in the capacity of Brand Alliances Manager. He has also worked to pilot the Omni channel form of retail in the e-commerce space. Prior to that, he has worked with Cognizant as a Business Intelligence consultant for clients ranging from the publications to banks to telecom sectors.\n\nHe is an alumnus of Mudra Institute of Communications (MICA), Ahmedabad and National Institute of Technology, Raipur.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"tunisha\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">TUNISHA KAPOOR</h2>\n<h3 class=\"pteam-member-position\">OPERATIONS ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"tunisha\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nTunisha has valuable work experience in both the corporate as well as the development sector. She worked as a Senior Research Associate with Consumer Unity and Trust Society for two years handling policy and regulatory research. Prior to that she worked with IMRB International for three years and was responsible for end-to-end project management. She handled both quantitative as well as qualitative studies in the areas of brand health checks as well as communication evaluations.\n\nTunisha has a management degree from Mudra Institute of Communications, Ahmedabad (MICA).\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"darshan\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">DARSHAN SINGH</h2>\n<h3 class=\"pteam-member-position\">OPERATIONS ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"darshan\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nDuring Darshan\'s tenure at DA, he played a leadership role in the creation of ecosystem development for fly ash brick industry, enterprise development, creation of market linkages and integrated village development with HUL and Bharat Oman Refineries Limited. His business proposal on Rural Home Stays in Madhya Pradesh “Homes of India” was selected by IIM- Calcutta as a semi-finalist entry to TATA Social Enterprise Challenge and he was offered the Entrepreneurship Development Program at IIM-Calcutta on incubation. As an independent consultant, he has helped non-profit organizations with fundraising and marketing strategies. He has also independently conducted marketing activation campaigns for various corporates.\n\nDarshan’s education background is in economics and international business management.\n\n</div>\n</div>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"image\" bg_color=\"#ffffff\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"0\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\" el_class=\"pmember-container\"][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1545304775330{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"allan\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/02/Allan.png\" alt=\"allan\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"allan\"> ALLAN ALFRED</a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"DESIGN AND BRANDING MANAGER\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529591584834{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">A professional visual artist, Allan has dedicated over a decade to art and design. He is a graduate in Visual Communication and is passionate about creating and exploring the latest trends in visual art.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/allanalfred/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1545375735646{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"kanika\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/12/Kanika4.png\" alt=\"kanika\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"kanika\">KANIKA KHANNA</a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"COMMUNICATIONS LEAD\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1545308758844{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Kanika is a seasoned communications expert and a story teller with 16 years of experience. She believes that a strong communications campaign can act as a catalyst in bringing about desired change. It can either make or break.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://in.linkedin.com/in/kanika-khanna-b1492b8\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" offset=\"vc_hidden-lg vc_hidden-md vc_hidden-sm vc_hidden-xs\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1488876627889{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"siddharth\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Siddhanth_Dhankhar.png\" alt=\"siddharth\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"siddharth\"> SIDDHARTH DHANKHAR </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"PROGRAM ASSOCIATE \" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1518612644484{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Siddharth enjoys mathematics and all things data. He joins Catalyst from the partnerships &amp; strategic initiatives team at Snapdeal. He loves swimming, squash and anything that gets him outdoors.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/siddharthdhankhar\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" offset=\"vc_hidden-lg vc_hidden-md vc_hidden-sm vc_hidden-xs\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1529588291472{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"allan\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/02/Allan.png\" alt=\"allan\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"allan\"> ALLAN ALFRED </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"DESIGN AND BRANDING MANAGER\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1529588316347{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">A professional visual artist, Allan has dedicated over a decade to art and design. He is a graduate in Visual Communication and is passionate about creating and exploring the latest trends in visual art.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/allanalfred/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\n<div id=\"shagun\" class=\"team-profile-container\" style=\"style: z-index: 11;\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SHAGUN NAGPAL</h2>\n<h3 class=\"pteam-member-position\">SENIOR COMMUNICATIONS MANAGER</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"shagun\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nAn Advertising &amp; Public Relations major from Indian Institute of Mass Communication; Shagun believes that effective communication leads to a positive change. Over the course of last 7 years she has worked in diverse work environments starting from Advertising agencies such as Ogilvy &amp; Mather to Humanitarian organisations such as Medecins Sans Frontieres/Doctors Without Borders. Her extensive experience, during which she has managed Press Relations as well as designed Experiential Marketing campaigns, has provided her with an opportunity to explore communication through varied lenses.\n\nShe has planned &amp; executed marketing campaigns for various audience profiles in India and South Asia. This background has given Shagun interesting insights into different cultures, along with teaching her skills like people\'s management, customer engagement and crisis management.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"anup\" class=\"team-profile-container\" style=\"style: z-index: 11;\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ANUP KUMAR ROY</h2>\n<h3 class=\"pteam-member-position\">OPERATIONS LEADER, IFMR LEAD</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"anup\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nAnup joined IFMR Research in October 2005 as Research Associate and has worked in several research studies. Prior to IFMR, he worked with University of Delhi for four years, as well as the World Bank as Short Term Consultant for more than a year. At present, as COO, he is involved in IFMR’s international expansion, partnership and training, HR and administration, grant management, financial functions, effective data collection, data management and ethical compliance.\n\nAnup holds a Master degree in Social Work from the University of Delhi.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"preethi-rao\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">PREETHI RAO</h2>\n<h3 class=\"pteam-member-position\">LEAD, LAB PROJECTS</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"preethi-rao\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nIn addition to her role at Catalyst, Preethi heads the Innovation Vertical at IFMR LEAD. As an Innovation Champion, she drives new initiatives and is responsible for conceptualizing new areas of interest for the organization. A significant part of her role at IFMR LEAD is to identify improvements to existing processes, drive new research opportunities and develop capabilities for the same. She is also involved in developing and leading research studies and short term projects in open data, MSMEs, finance and healthcare. Her past roles include overseeing field data collection and digitization of operations.\n\nPreethi’s journey at IFMR began in 2006 as a researcher where she worked in the small enterprise finance and development space until 2012. During this time, she managed a pan India study on ROSCAs and their role in MSME financing, funded by the Bill &amp; Melinda Gates Foundation. The study was presented to and acknowledged by the then Hon. Finance Minister, Mr. Pranab Mukherjee.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"vivekdeep\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">VIVEKDEEP GUPTA</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE DIRECTOR, STRATEGIC INNOVATIONS</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"vivekdeep\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nVivekdeep Gupta graduated in 2014 with an MBA in Finance and Economics. Vivek has significant public policy experience, having worked at the Office of the Advisor to Prime Minister of India where he designed parts of the National Skill Development Policy and approved loans for skill development programs. He also worked with Mr. N Chandrababu Naidu, through the AP Economic Development Board, during his current tenure as Chief Minister of Andhra Pradesh. Vivek spent 4 years with the Tata Group as part of the Tata Administrative Services (TAS) in Africa, Israel and India. At TAS, he helped the Group set up multiple businesses including India’s first private sector military aerospace unit and micro-finance fund in South Africa.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"akanksha\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">AKANKSHA MITTAL</h2>\n<h3 class=\"pteam-member-position\">OPERATIONS ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"akanksha\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nAkanksha has worked with Accenture Strategy as a Business Consultant for close to years, in large scale implementation and strategy projects in areas of process efficiency and process integration with technological systems.\n\nShe completed her MBA from Indian Institute of Management, Bangalore and BSc (H) Mathematics from Lady Shri Ram College. She is passionate about the causes of Financial Inclusion, education for the blind and economic development and has contributed to these areas in her own small yet significant ways.\n\nShe likes watching plays more than movies and philosophy more than romance. Her height doesn’t justify her love and skill at basketball and she takes the job of restaurant critiquing quite seriously! Her bucket list includes travelling solo to Latin America and teaching kids there.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"ryan\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">RYAN TERRIBILINI</h2>\n<h3 class=\"pteam-member-position\">FELLOW</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"ryan\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nRyan has worked on numerous projects at the intersection of technology, policy, and operations. He spent four years at Google developing the Android hardware and software ecosystems by managing direct-to-consumer device support operations and creating policies for the world\'s biggest mobile app marketplace. At Ripple, Ryan served as Head of Developer Relations and Platform Partnerships. Through this role he engaged with numerous financial institutions and FinTech entrepreneurs building the payment systems of the future.\n\nRyan is a magna cum laude graduate of the University of California, Berkeley with a degree in Classical Civilizations. He is expected to graduate from the University of Oxford\'s Master of Public Policy program in Fall 2017. When he\'s not studying or playing with tech, you can find Ryan relaxing by watching and playing baseball.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"adiraju\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">BHARADWAJ ADIRAJU</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"adiraju\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">Bharadwaj is pursuing an M.A. in Economics from the University of Hyderabad. Driven by his desire to solve socio-economic injustices, he was part of a team that conducted a study on the reasons for the drop-out of differently-abled students from Delhi University. He intends to combine his interests in teaching and economics to pursue a career in teaching Currently, he is interested in investigating benefits of financial inclusion at the grass-roots and its impact on macroeconomic policies and indicators. In his free time, he enjoys relaxing and plays the Carnatic Classical violin and lawn tennis.</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"katyal\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">RAGHAV KATYAL</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"katyal\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">Raghav studies Political Science and Economics at Ashoka University. He believes policy enables markets to drive socio-economic development. An aspiring public policy professional, Raghav also enjoys writing opinion pieces on contemporary issues. Apart from his academic pursuits, he also steers the Consulting vertical of the Ashoka Business Club.\nBorn and brought up in New Delhi, he takes an avid interest in reading up on the city’s history, monuments, as well as the politics that is woven into its fabric. At Catalyst, he hopes to help create government regulation for payments which can unlock financial inclusion for India’s masses.</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"khanna\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SAMRUDHI KHANNA</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"khanna\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">With an undergraduate degree in financial markets and over two years of experience in investment banking research, Samrudhi has now decided to dive into a more impactful role within the space. She aims to contribute her time and skills towards helping Catalyst build a digitized national economy and promote financial inclusion at various levels. A firm believer in the bottom up theory of development, she has also worked on a number of field as well as analytical projects in behavioural finance, child labour, improving the scope of primary education in India etc.</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"srinivasan\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">NITHYA SRINIVASAN</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"srinivasan\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">Nithya recently graduated in Economics from Miranda House, University of Delhi and is passionate about international development and economic research. Her academic interests include social entrepreneurship, women empowerment, and behavioural aspects of public policy formulation. In the past, Nithya has worked with research organisations, NGOs and the Delhi Government on women entrepreneurship, public health, education and law. She recently represented India at the South Asian Economics Students Meet, Bangladesh and was awarded ‘best paper’ for her research work on healthcare financing. Besides research, Nithya loves debating, travelling and meeting new people. She is a passionate singer and currently teaches with an organisation called Music Basti in Delhi.</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"swallow\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">MYLA SWALLOW</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"swallow\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">Myla is interested in the intersection of normative philosophy and the realities of global economic development. She bridges a fascination for the theoretical with a desire to implement effective on-the-ground change, realising that these pursuits can often lead in divergent directions. She is now working on her undergraduate thesis investigating and evaluating the execution of financial services in low-income communities. Myla is originally from Sydney, Australia, but has spent the last 3 years as a Robertson Scholar at Duke University. She will be graduating from Duke in May 2019 with a double major in economics and philosophy.</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"anupama\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ANUPAMA MENON</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"anupama\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nAnupama is an undergraduate student of Electronics and Communication Engineering at the National Institute of Technology, Trichy, and was named a Cargill Global Scholar in 2017. She is driven by a desire to integrate technology with the development sector in India. She is interested in digitization and its impact on the Indian economy and is keen on using her technical and behavioral insights to fast-track this process.\n\nShe has worked extensively in the Public Health sector - having conducted research in Medical Imaging and developed an application for Breast Cancer Thermography. As a volunteer, she has taught English to primary-school goers in rural Trichy. She also takes an active interest in theatre, classical dance and writing.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"allan\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ALLAN ALFRED</h2>\n<h3 class=\"pteam-member-position\">DESIGN AND BRANDING MANAGER</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"allan\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nFor over a decade, Allan has been dedicated to design and looking into global design trends. His passion for art, design and communication has helped him build a staggering array of visual art and concepts. During the last 13 years, Allan has been recognized as a change enthusiast and a trend setter.\n\nAfter graduating with a Degree in Visual Communication, Allan has worked in Malaysia and many parts of India. He is a well appreciated Team Leader and spends most of his leisure time interacting with like-minded creative professionals and exploring new realms of design.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"siddharth\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SIDDHARTH DHANKHAR</h2>\n<h3 class=\"pteam-member-position\">PROGRAM ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"siddharth\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nSiddharth has a dual degree from BITS Pilani with bachelor\'s degree in electronics engineering and a master\'s degree in economics. He\'s previously interned at Morgan Stanley, KPMG, among other companies.\n\nPrior to joining Catalyst, he spent about two years at Snapdeal working on partnerships &amp; strategic initiative projects.\n\nIn his spare time, he can be found debating, planning detailed vacation itineraries and outdoors. He has spent a summer working in financial crime investigation with Gurgaon Police.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"gaurav-s\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">GAURAV SINGHAL</h2>\n<h3 class=\"pteam-member-position\">BUSINESS ANALYST</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sharon\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nGaurav has been an active participant in startup ecosphere. He has worked with CIIE, IIM A where he worked on the bi-yearly Blpan competition Power of Ideas; as an intern at Dexter capital – a startup debt advisory and angel fund where he assisted in early due diligence and outreach; and as a Business development associate at CultureAlley, creator of HelloEnglish App where he worked on monetizing the app through multiple channels and upselling. In his free time, he loves to write short stories, follow cricket and prepare for marathon cycling.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"kanika\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">KANIKA KHANNA</h2>\n<h3 class=\"pteam-member-position\">COMMUNICATIONS LEAD</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sharon\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nShe has a deep and robust background, spanning public relation agencies (Lintas\' LINOpinon, 20:20 Media), corporate sector firms (Hay Group/Korn Ferry, Aon Hewitt) and handled communications, media and public advocacy for WHO for 7 years. Her experience spans corporate/marketing communications, public advocacy, media relations, risk &amp; issues-based communications, digital marketing and visual communications.\n\nShe has conceptualized and managed communication campaigns for Google, Oracle, Red Hat, BBC Hindi Radio Service, Adobe, Polycom, Agewell Foundation, Election Commission, among others, including public advocacy campaigns like mental health, road safety, Say No To Tobacco, antibiotic resistance, routine immunization, and disease outbreak situations.\n\nShe has had the privilege of working across diverse industries and learnt to communicate effectively with due respect to their sensitivities.\n\nShe is a Commerce graduate and Masters in Marketing and Business Administration. She holds a diploma in Public relations and Marketing. Kanika is a travel enthusiast and believes in angels\n\n</div>\n</div>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"image\" bg_color=\"#ffffff\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"0\" visibility=\"hidden-xs,hidden-sm,hidden-md,hidden-lg,hidden-xlg\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\" el_class=\"pmember-container\"][vc_column_inner width=\"1/4\"][/vc_column_inner][vc_column_inner width=\"1/4\"][/vc_column_inner][vc_column_inner el_class=\"phide\" width=\"1/4\" offset=\"vc_hidden-lg vc_hidden-md vc_hidden-sm vc_hidden-xs\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1488521635859{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"sowmya\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Sowmya-Nanjudaiah.png\" alt=\"sowmya\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"sowmya\"> SOWMYA NANJUNDAIAH </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"MARKETING, INCITE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1486129377285{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Sowmya is CEO of INCITE, where she helps companies reimagine how they interact with their customers and manage their businesses in the digital economy.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/sowmya-nanjundaiah-4695b43\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\n<div id=\"shubham\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SHUBHAM KULSHRESTHA</h2>\n<h3 class=\"pteam-member-position\">OPERATIONS ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"shubham\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nShubham recently graduated from Peking University HSBC Business School with a master degree in Management Science and has undertaken projects involving product portfolio establishment, market research, business analysis and project management during his study. He has worked on a joint venture under the guidance of senior leadership in Mahindra Intertrade to study the feasibility of new product establishment in the Indian market. Shubham brings to the table a rich experience of working with global MNCs like Mahindra &amp; Mahindra, Bosch &amp; JCB.\n\nHe has a Bachelors in Mechanical engineering from Manipal University. During his tenure of study at Manipal, he has lead teams in National level automotive events like BAJA &amp; National Go kart championship and has worked as a volunteer in social organizations like Gramiksha and AIESEC, India.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"smriti\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SMRITI AGRAWAL</h2>\n<h3 class=\"pteam-member-position\">MANAGER, POLICY AND PARTNERSHIPS</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"smriti\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nA Harvard Law School and London School of Economics graduate, Smriti is a lawyer turned economist specializing in financial regulation, international and monetary economics. She has previously worked with Reserve Bank of India and Ministry of Finance and was involved in issues relating to fiscal policy and public finance. In this context, Smriti engaged in mobilization of small savings through market borrowings.\n\nPrior to this, she was assigned on projects with European Commission &amp; ESMA on improving involvement of retail users in the design of financial policies. Smriti is a trained Indian classical dancer who tries to engage and teach kids Kathak.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"pratap\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">PRATAP THUMBOOCHETTY</h2>\n<h3 class=\"pteam-member-position\">MARKETING, INCITE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"pratap\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nPratap began his career as a research scientist at the Indian Institute of Science, Bengaluru. During his MBA program in the U.S., Pratap interned with the Federal Communications Commission, helping draft policy and legislation for the Satellite Communications division. Then, as a part of Capital One’s Small Business division, Pratap was instrumental in developing new products and creating and growing the Loyalty Program. He later led Capital One’s foray into the Indian consumer lending market. During this time, he was also invited to write an advisory paper to the Ministry of Finance, Government of India, on leveraging data analytics within the Income Tax department. As an independent consultant, Pratap mentored large corporations by offering strategic advice related to India entry.\n\nPratap has a degree in electrical engineering and an MBA from the Yale School of Management with a dual concentration in strategy and international finance.\n\n</div>\n</div>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" enable_parallax=\"false\" parallax_speed=\"0.4\" visibility=\"hidden-xs,hidden-sm,hidden-md,hidden-lg,hidden-xlg\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"5/6\"][vc_custom_heading text=\"SUMMER PROGRAM (BATCH OF 2017)\" 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_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\n<p style=\"text-align: center;\">Every year, we select a few passionately driven individuals with unique skills and interests that complement our current priorities.</p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"image\" bg_color=\"#ffffff\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"0\" visibility=\"hidden-xs,hidden-sm,hidden-md,hidden-lg,hidden-xlg\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\" el_class=\"pmember-container\"][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1494410553853{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"ryan\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Ryan-terribilini.png\" alt=\"ryan\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"ryan\"> RYAN TERRIBILINI </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"FELLOW\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494240914237{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Being born and raised right next to Silicon Valley, Ryan has always been inspired by the history of technology and its potential for the future.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/ryanterribilini/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1494241018144{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"maya\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Maya-Durvasula.png\" alt=\"maya\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"maya\"> MAYA DURVASULA </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494239528364{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Research and service in a diverse array of settings have augmented Maya’s commitment to poverty alleviation and economic development.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/maya-durvasula-7aaa9179/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1494240671749{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"priyanka\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/priyanka.png\" alt=\"priyanka\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"priyanka\"> PRIYANKA ROYCHOUDHURY </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494240448187{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Priyanka is currently pursuing MSc Economics from London School of Economics and Political Science. Prior to joining LSE.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/priyanka-roychoudhury-15aa843b/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1494334037374{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"abhinav\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Abhinav-Verma.png\" alt=\"abhinav\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"abhinav\"> ABHINAV VERMA </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494334178467{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Abhinav is interested in social entrepreneurship and the potential of markets to promote economic development. He is a second-year undergrad studying Economics and Finance at Ashoka University.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/abhinav-verma-b2b74a10b/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" disable_element=\"yes\" el_class=\"pmember-container phide\" css=\".vc_custom_1517294658131{margin-top: 40px !important;}\"][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1504761827594{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"jennifer\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2017/09/Jennifer-Sung.png\" alt=\"jennifer\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"jennifer\"> JENNIFER SUNG </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1504761858418{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Jennifer is a finance professional with a poetic heart, curious palate and wandering feet. Her diverse experiences have fueled her interests in financial technology, entrepreneurship and early stage investments.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/jennifer-sung-20b80162/?ppe=1\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" offset=\"vc_hidden-lg vc_hidden-md vc_hidden-sm vc_hidden-xs\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1494241018144{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"maya\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Maya-Durvasula.png\" alt=\"maya\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"maya\"> MAYA DURVASULA </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494239528364{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Research and service in a diverse array of settings have augmented Maya’s commitment to poverty alleviation and economic development.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/maya-durvasula-7aaa9179/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" offset=\"vc_hidden-lg vc_hidden-md vc_hidden-sm vc_hidden-xs\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1494240671749{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"priyanka\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/priyanka.png\" alt=\"priyanka\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"priyanka\"> PRIYANKA ROYCHOUDHURY </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494240448187{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Priyanka is currently pursuing MSc Economics from London School of Economics and Political Science. Prior to joining LSE.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/priyanka-roychoudhury-15aa843b/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" offset=\"vc_hidden-lg vc_hidden-md vc_hidden-sm vc_hidden-xs\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1494334037374{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"abhinav\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2016/12/Abhinav-Verma.png\" alt=\"abhinav\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"abhinav\"> ABHINAV VERMA </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494334178467{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\">Abhinav is interested in social entrepreneurship and the potential of markets to promote economic development. He is a second-year undergrad studying Economics and Finance at Ashoka University.</p>\n[/vc_column_text][vc_column_text text_color=\"#0353d8\" letter_spacing=\"\" el_class=\"lh24 pteam-social-link-container\"]\n<p class=\"pteam-social-link\" style=\"text-align: center;\"><a href=\"https://www.linkedin.com/in/abhinav-verma-b2b74a10b/\" target=\"_blank\" rel=\"noopener noreferrer\">Linkedin</a></p>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\n<div id=\"jennifer\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">JENNIFER SUNG</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"jennifer\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nJennifer started her career as a Healthcare Investment Banker with Deutsche Bank. After working across a spectrum of transactions in M&amp;A and Equity markets across EMEA, she took up a Client Strategy role with the Global Capital Markets and Treasury Solutions team.\n\nAfter 3 years with Deutsche bank, Jennifer joined an early stage Fintech start-up Lendingkart as a Senior Manager in their Strategic Initiatives team. She was briefly the Chief of staff and was further promoted to AVP – Capital Markets responsible for raising debt capital and management of investor/external stakeholder relationships for the firm.\n\nJennifer graduated with an honours degree from Shri Ram College of Commerce and is an MBA candidate at INSEAD. In her free time, she likes to travel, recreate gourmet meals in her kitchen, and curl up with a good book.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"siddharth\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SIDDHARTH DHANKHAR</h2>\n<h3 class=\"pteam-member-position\">PROGRAM ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"siddharth\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nSiddharth has a dual degree from BITS Pilani with bachelor\'s degree in electronics engineering and a master\'s degree in economics. He\'s previously interned at Morgan Stanley, KPMG, among other companies.\n\nPrior to joining Catalyst, he spent about two years at Snapdeal working on partnerships &amp; strategic initiative projects.\n\nIn his spare time, he can be found debating, planning detailed vacation itineraries and outdoors. He has spent a summer working in financial crime investigation with Gurgaon Police.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"anand\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ANAND RAMAN</h2>\n<h3 class=\"pteam-member-position\">TECHNICAL ADVISOR</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"anand\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nAnand enjoys learning and has moved between sectors and domain in his professional life -- from IT to telecom to television and lastly financial services. He has written code, managed projects, delivered products, sold and marketed them with stints at companies including Tech Mahindra, Idea Cellular, Star TV, Eko and IDmission Solutions. He wants to remain curious and in hopefully bring some change. He has interests in diverse and often utterly unrelated subjects.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"sowmya\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SOWMYA NANJUNDAIAH</h2>\n<h3 class=\"pteam-member-position\">MARKETING, INCITE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sowmya\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nSince 2010, Sowmya has driven INCITE’s growth from a small startup into a full-service interactive agency operating out of the U.S., Europe and India. Earlier, she was responsible for corporate fund raising for the United Way in Massachusetts, helping America’s largest non-profit organization raise funds for outreach programs. On her return to India, Sowmya was part of the founding team of Nirvana, a Bengaluru-based BPO that services global clients. Here she defined the strategic vision and built key parts of the organization including product development and sales. As Head of the New York office, she was responsible for Nirvana’s expansion into the North American market. Sowmya then returned to India to co-found a successful wine company, Naka Wines. As CEO of Naka Wines, she was responsible for launching the brand across Karnataka and the USA.\n\nSowmya has an MBA from the prestigious University of Massachusetts.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"abhinav\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ABHINAV VERMA</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"abhinav\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nAbhinav is a second-year undergrad pursuing a B.Sc. (Hons.) in Economics and Finance from Ashoka University. He is interested in social entrepreneurship and the potential of markets to promote economic development. His academic interests lie in financial inclusion and impact investing. Last winter, he organised a panel discussion at the Harvard-US India Conference to discuss the role of financial inclusion in Indian rural development.\n\nAbhinav is a budding entrepreneur. He started a e-commerce company to represent local manufacturers on e-commerce portals. On campus, he also started a food-delivery business. To relax, he enjoys swimming, photography, writing for his university’s newspaper, and trying new kinds of cuisine.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"priyanka\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">PRIYANKA ROYCHOUDHURY</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"priyanka\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nPriyanka worked with Centre for Policy Research in New Delhi in their project –Accountability Initiative- where she worked in the areas of public finance and public administration. As a Research Associate, she handled both quantitative and qualitative analytical work as well as worked on ground to implement PETS for the project.\n\nPriyanka holds a B.A. (Hons) Economics degree from Lady Shri Ram college for women and a PGD in Liberal Arts from Ashoka University. Apart from nurturing a career goal to step into policy work using her academic qualifications professionally, she continues to juggle her passion for community work through her community initiative- The WordsWorth Project- which engages youth volunteers to assist underprivileged kids with their English language development. She often uses the rest of her time to give life to her thoughts through blogging and doodling.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"maya\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">MAYA DURVASULA</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"maya\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nMaya combines academic interests in economic development and poverty alleviation with a wide array of experiences in research and multi-sectoral policy development &amp; implementation. Most recently, she co-led two nationwide behavioral economics experiments on HIV test uptake with a public health and social entrepreneurship laboratory in Guangzhou, China. She is interested in the ways in which microeconomic theory and behavioral insights can be used to design informal and formal social programs and institutions.\n\nMaya studies economics and mathematics as a Robertson Scholar at Duke University and will graduate in May 2018. She was named a 2017 United States Truman Scholar. In her free time, she can usually be found wandering through mountains and canyons in the American Southwest.\n\n</div>\n</div>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" enable_parallax=\"false\" parallax_speed=\"0.4\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"5/6\"][vc_custom_heading text=\"SUMMER PROGRAM (BATCH OF 2018)\" 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_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\n<p style=\"text-align: center;\">Every year, we select a few passionately driven individuals with unique skills and interests that complement our current priorities.</p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" el_class=\"pmember-container\"][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1528191247772{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"adiraju\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/06/bharadwaj_adiraju.png\" alt=\"adiraju\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"adiraju\"> BHARADWAJ ADIRAJU</a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1528186523821{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Bharadwaj is pursuing an M.A. in Economics from the University of Hyderabad. Driven by his desire to solve socio-economic injustices, he was part of a team that conducted a study on the reasons for the drop-out of differently-abled students from Delhi University. </span></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1528187251568{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"katyal\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/06/raghav_katyal.png\" alt=\"katyal\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"katyal\"> RAGHAV KATYAL </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494239528364{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Raghav studies Political Science and Economics at Ashoka University. He believes policy enables markets to drive socio-economic development.</span></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1528191661212{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"khanna\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/06/samrudhi_khanna.png\" alt=\"khanna\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"khanna\">SAMRUDHI KHANNA </a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494240448187{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">With an undergraduate degree in financial markets and over two years of experience in investment banking research, Samrudhi has now decided to dive into a more impactful role within the space.</span></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1528191710557{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"srinivasan\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/06/nithya.png\" alt=\"srinivasan\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"srinivasan\"> NITHYA SRINIVASAN</a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494334178467{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Nithya recently graduated in Economics from Miranda House, University of Delhi and is passionate about international development and economic research.</span></p>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" el_class=\"pmember-container\"][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1528192317705{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"swallow\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/06/myla_swallow.png\" alt=\"swallow\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"swallow\"> MYLA SWALLOW\n</a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1528186523821{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Myla is interested in the intersection of normative philosophy and the realities of global economic development.</span></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1528208150929{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"anupama\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/06/photos06.png\" alt=\"anupama\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"anupama\"> ANUPAMA MENON</a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494239528364{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Anupama is an undergraduate student of Electronics and Communication Engineering at the National Institute of Technology, Trichy, and was named a Cargill Global Scholar in 2017.</span></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" offset=\"vc_hidden-lg vc_hidden-md vc_hidden-sm vc_hidden-xs\"][vc_column_text letter_spacing=\"\" css=\".vc_custom_1545303910648{margin-bottom: 0px !important;}\"]\n<div class=\"team-member-container\">\n<div class=\"team-member\">\n\n<a class=\"toggle\" data-target=\"anupama\"><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/12/Kanika-1.png\" alt=\"Kanika\" /></a>\n\n</div>\n<div>\n<h2 class=\"pmember-title\"><a class=\"toggle\" data-target=\"anupama\">KANIKA</a></h2>\n</div>\n</div>\n[/vc_column_text][vc_custom_heading text=\"ASSOCIATE\" font_container=\"tag:h2|font_size:17px|text_align:center|color:%23383b3b|line_height:24px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1494239528364{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;}\" el_class=\"pmember-position\"][vc_column_text text_color=\"#383b3b\" letter_spacing=\"\" el_class=\"lh24 pteam-content-container\"]\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Kanika is a seasoned communications expert and a story teller with 16 years of experience. She believes that a strong communications campaign can act as a catalyst in bringing about desired change. It can either make or break.</span></p>\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"image\" bg_color=\"#ffffff\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"0\" visibility=\"visible-xs,visible-sm,visible-md,visible-lg,visible-xlg\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\n<div id=\"adiraju\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">BHARADWAJ ADIRAJU</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"adiraju\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">Bharadwaj is pursuing an M.A. in Economics from the University of Hyderabad. Driven by his desire to solve socio-economic injustices, he was part of a team that conducted a study on the reasons for the drop-out of differently-abled students from Delhi University. He intends to combine his interests in teaching and economics to pursue a career in teaching Currently, he is interested in investigating benefits of financial inclusion at the grass-roots and its impact on macroeconomic policies and indicators. In his free time, he enjoys relaxing and plays the Carnatic Classical violin and lawn tennis.</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"anand\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ANAND RAMAN</h2>\n<h3 class=\"pteam-member-position\">TECHNICAL ADVISOR</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"anand\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nAnand enjoys learning and has moved between sectors and domain in his professional life -- from IT to telecom to television and lastly financial services. He has written code, managed projects, delivered products, sold and marketed them with stints at companies including Tech Mahindra, Idea Cellular, Star TV, Eko and IDmission Solutions. He wants to remain curious and in hopefully bring some change. He has interests in diverse and often utterly unrelated subjects.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"sowmya\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">SOWMYA NANJUNDAIAH</h2>\n<h3 class=\"pteam-member-position\">MARKETING, INCITE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"sowmya\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nSince 2010, Sowmya has driven INCITE’s growth from a small startup into a full-service interactive agency operating out of the U.S., Europe and India. Earlier, she was responsible for corporate fund raising for the United Way in Massachusetts, helping America’s largest non-profit organization raise funds for outreach programs. On her return to India, Sowmya was part of the founding team of Nirvana, a Bengaluru-based BPO that services global clients. Here she defined the strategic vision and built key parts of the organization including product development and sales. As Head of the New York office, she was responsible for Nirvana’s expansion into the North American market. Sowmya then returned to India to co-found a successful wine company, Naka Wines. As CEO of Naka Wines, she was responsible for launching the brand across Karnataka and the USA.\n\nSowmya has an MBA from the prestigious University of Massachusetts.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"abhinav\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">ABHINAV VERMA</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"abhinav\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nAbhinav is a second-year undergrad pursuing a B.Sc. (Hons.) in Economics and Finance from Ashoka University. He is interested in social entrepreneurship and the potential of markets to promote economic development. His academic interests lie in financial inclusion and impact investing. Last winter, he organised a panel discussion at the Harvard-US India Conference to discuss the role of financial inclusion in Indian rural development.\n\nAbhinav is a budding entrepreneur. He started a e-commerce company to represent local manufacturers on e-commerce portals. On campus, he also started a food-delivery business. To relax, he enjoys swimming, photography, writing for his university’s newspaper, and trying new kinds of cuisine.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"priyanka\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">PRIYANKA ROYCHOUDHURY</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"priyanka\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nPriyanka worked with Centre for Policy Research in New Delhi in their project –Accountability Initiative- where she worked in the areas of public finance and public administration. As a Research Associate, she handled both quantitative and qualitative analytical work as well as worked on ground to implement PETS for the project.\n\nPriyanka holds a B.A. (Hons) Economics degree from Lady Shri Ram college for women and a PGD in Liberal Arts from Ashoka University. Apart from nurturing a career goal to step into policy work using her academic qualifications professionally, she continues to juggle her passion for community work through her community initiative- The WordsWorth Project- which engages youth volunteers to assist underprivileged kids with their English language development. She often uses the rest of her time to give life to her thoughts through blogging and doodling.\n\n</div>\n</div>\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\n<div id=\"maya\" class=\"team-profile-container\">\n<div class=\"team-profile-inner\" style=\"margin: 0 auto;\">\n<h2 class=\"pteam-member-name\">MAYA DURVASULA</h2>\n<h3 class=\"pteam-member-position\">ASSOCIATE</h3>\n<div class=\"pclose-btn\"><a class=\"close \" data-target=\"maya\">X</a></div>\n</div>\n<div class=\"pteam-member-details\">\n\nMaya combines academic interests in economic development and poverty alleviation with a wide array of experiences in research and multi-sectoral policy development &amp; implementation. Most recently, she co-led two nationwide behavioral economics experiments on HIV test uptake with a public health and social entrepreneurship laboratory in Guangzhou, China. She is interested in the ways in which microeconomic theory and behavioral insights can be used to design informal and formal social programs and institutions.\n\nMaya studies economics and mathematics as a Robertson Scholar at Duke University and will graduate in May 2018. She was named a 2017 United States Truman Scholar. In her free time, she can usually be found wandering through mountains and canyons in the American Southwest.\n\n</div>\n</div>\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#ffffff\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"0\" bg_image=\"7841\"][vc_column][vc_row_inner css=\".vc_custom_1483453346740{margin-bottom: 30px !important;}\"][vc_column_inner][vc_custom_heading text=\"ADVISORS\" font_container=\"tag:h2|font_size:26px|text_align:left|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_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24 ptitle-border-red\"]Catalyst\'s advisors being deep sector expertise and thought leadership to guide our strategy and implementation.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1483514478888{margin-bottom: 30px !important;}\"][vc_column_inner width=\"1/4\"][vc_custom_heading text=\"ALLEN WEINBERG\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1486445347167{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" link=\"url:https%3A%2F%2Fwww.linkedin.com%2Fin%2Fallen-weinberg-0155%3Ftrk%3Dprof-samename-name||target:%20_blank|\"][vc_custom_heading text=\"Partner/Co-Founder\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487851713182{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][vc_custom_heading text=\"Glenbrook Partners\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1486444189952{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_custom_heading text=\"LEORA KLAPPER\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1498630768489{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" link=\"url:https%3A%2F%2Fwww.linkedin.com%2Fin%2Fleora-klapper-24105478||target:%20_blank|\"][vc_custom_heading text=\"Lead Economist\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1498630865051{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][vc_custom_heading text=\"World Bank\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1498630903695{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_custom_heading text=\"NITIN MANTRI\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488797685329{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" link=\"url:https%3A%2F%2Fwww.linkedin.com%2Fmessaging%2Fthread%2F6242557045191606272%2F||target:%20_blank|\"][vc_custom_heading text=\"CEO\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488797709804{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][vc_custom_heading text=\"Avian Media\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488797719470{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_custom_heading text=\"PAWAN BAKHSHI\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1498735370480{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" link=\"url:https%3A%2F%2Fwww.linkedin.com%2Fin%2Fpawan-bakhshi-ph-d-7461411%2F||target:%20_blank|\"][vc_custom_heading text=\"India Lead - Financial Services for the Poor\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488797833022{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][vc_custom_heading text=\"Bill &amp; Melinda Gates Foundation\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488797847586{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1486444525955{margin-bottom: 30px !important;}\"][vc_column_inner width=\"1/4\"][vc_custom_heading text=\"PRAVEEN KHANDELWAL\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1486445418505{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" link=\"url:https%3A%2F%2Fin.linkedin.com%2Fin%2Fpraveen-khandelwal-95b68614||target:%20_blank|\"][vc_custom_heading text=\"Secretary-General\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487851739567{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][vc_custom_heading text=\"Confederation of All India Traders\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1486444491047{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_custom_heading text=\"RAJESH BANSAL\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1486445506996{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" link=\"url:https%3A%2F%2Fwww.linkedin.com%2Fin%2Frajesh-bansal-b81b8655||target:%20_blank|\"][vc_custom_heading text=\"Senior Partner\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487851763311{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][vc_custom_heading text=\" Bankable Frontier Associates\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487852170655{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_custom_heading text=\"RENANA JHABVALA\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487851646864{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_custom_heading text=\"National Coordinator\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487851685527{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][vc_custom_heading text=\"SEWA Bank\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:300%20light%20regular%3A300%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487851730358{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_custom_heading text=\"SMITA AGGARWAL\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488797535842{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" link=\"url:https%3A%2F%2Fwww.linkedin.com%2Fin%2Fsmitaaggarwal0%2F||target:%20_blank|\"][vc_custom_heading text=\"Director - Investments\" font_container=\"tag:h2|font_size:22px|text_align:left|color:%23383b3b|line_height:28px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Ci