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(24294, 13, '2018-07-11 13:54:39', '2018-07-11 13:54:39', '[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=\"24295\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner el_class=\"uppercase\" width=\"2/3\"][vc_custom_heading text=\"UNLOCKING FINANCE FOR SMALL MERCHANTS - FROM DIGITAL DATA TO DIGITAL CREDIT\" font_container=\"tag:h2|font_size:48px|text_align:center|color:%23ffffff|line_height:54px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"130px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\" css=\".vc_custom_1504265033147{padding-right: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265063058{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265782417{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/unlocking-finance-small-merchants.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"24312\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1531318139818{padding-top: 17px !important;}\"][/vc_column_inner][vc_column_inner width=\"3/4\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]Kamal Singh, a 40-year-old tea vendor in the walled city area of Jaipur has been running his family’s tea shop for two generations. As we arrive, Kamal is busy serving tea and biscuits to office-goers who are sitting on a row in a small iron bench outside the shop. Rakesh Singh, his 70-year-old father, is mixing milk and tea in a burning aluminum vessel in a corner in the shop.\r\n\r\nThe visible inventory in the shop is scant – a couple of big glass jars filled with biscuits, a few packets of plastic tea cups and some freshly bought sachets of milk from the local diary. Early on in our conversation, Kamal tells us that he needs around one lakh rupees to expand his business. While he did apply for a loan from a formal financial institution, his application was rejected.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"24303\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"24296\" alignment=\"center\"][vc_custom_heading text=\"FINANCING THE ‘MISSING MIDDLE’ \" 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_1533035782314{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][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]Millions of microentrepreneurs such as Kamal are unable to access working capital loans from banks and financial institutions due to lack of formal financial histories. In such a scenario, digitizing merchant payments generate data trails that can be used by a financial service provider to assess the credit worthiness of small merchants and extend loans.\r\n\r\nAs part of a pilot initiative to test this hypothesis, Catalyst has partnered with a financial service provider to provide a sample of small merchants with a Point of Sale (PoS) machine to digitize payments by customers. During the onboarding process for the pilot, we demonstrate the PoS machine to Kamal and help him with instructions on how to operate it. We also tell him that if he encourages his customers to pay by card even for small transactions – a lending agency will be able to see his monthly transaction data, and offer him a formal loan. Once a small ticket size loan is disbursed by the lender, the daily interest payment due on the loan can be deducted directly from the payments received from the card swipes at the POS. Kamal is intrigued by the proposition and seems convinced that using the POS machine can help him get a loan.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\"][vc_column][vc_single_image image=\"24305\" alignment=\"center\"][vc_custom_heading text=\"HIGH COSTS - A BARRIER TO GOING DIGITAL \" 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_1533035845782{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=\"\"]Following the onboarding to the machine, we explain to Kamal the upfront cost and the rental cost of buying and maintaining a PoS machine. At this stage, we see a hesitation on Kamal’s face. The upfront cost of buying the machine is upwards of Rs. 2000 and he needs to pay an additional rental fee of Rs. 250 per month to maintain this machine. These costs are over and above the daily interest on the loan amount that he wishes to borrow.\r\n\r\n“The cost of buying and renting the machine is quite high for me. It is also challenging to convince my customers to pay digitally for small transactions.”\r\n\r\nHearing about the various indirect costs associated with acquiring and using the PoS machine, Kamal’s interest in the loan product has visibly dwindled. Moreover, his customers undertake transactions of small ticket sizes and he is doubtful about nudging them to pay him digitally.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"24297\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"24308\" alignment=\"center\"][vc_custom_heading text=\"LEARNING BY ITERATING\" 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_1533035881798{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][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]\r\nOur conversations with Kamal gives us important insights into the operational challenges related to testing our hypotheses of bundling digital payments with credit propositions. We are back to the drawing board and are working on an iteration of the pilot.\r\n\r\nIn the next phase, we will introduce a no/low cost payment alternative for small merchants such as Unified Payments Interface (UPI) to help them overcome the cost barriers associated with purchasing and renting a PoS machine. Using our iterative design and learning process, we will also continue to gather deeper insights into the factors that influence merchants and the customer’s willingness to adopt digital payments for small transactions at retail shops such as the one run by Kamal and his family.\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/2018/09/unlocking-finance-small-merchants.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]', 'Unlocking finance for small merchants — from digital data to digital credit', '', 'publish', 'closed', 'closed', '', 'unlocking-finance-small-merchants-digital-data-digital-credit', '', '', '2018-11-15 08:14:09', '2018-11-15 08:14:09', '', 0, 'http://cashlesscatalyst.org/?page_id=24294', 0, 'page', '', 0),
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(15362, 13, '2018-06-07 15:54:34', '2018-06-07 15:54:34', '', 'What-Cooking-in-our-Digital-Payments-Lab', '', 'inherit', 'closed', 'closed', '', 'what-cooking-in-our-digital-payments-lab', '', '', '2018-06-07 15:54:34', '2018-06-07 15:54:34', '', 0, 'http://cashlesscatalyst.org/wp-content/uploads/2018/06/What-Cooking-in-our-Digital-Payments-Lab.pdf', 0, 'attachment', 'application/pdf', 0),
(24292, 13, '2018-07-11 13:38:47', '2018-07-11 13:38:47', '', 'Gen-Next', '', 'inherit', 'closed', 'closed', '', 'gen-next-2', '', '', '2018-07-11 13:38:47', '2018-07-11 13:38:47', '', 24269, 'http://cashlesscatalyst.org/wp-content/uploads/2018/07/Gen-Next-1.png', 0, 'attachment', 'image/png', 0),
(15085, 13, '2018-06-05 10:51:42', '2018-06-05 10:51:42', '[vc_row <div style=\"display:none\"><a href=\"http://wiki-strength.pro/strength-and-muscle-blog/shoulder-exercises.html\" title=\"Shoulder exercises\">Shoulder exercises</a></div> content_placement=\"top\" padding_top=\"0\" padding_bottom=\"0\"][vc_column][vc_row_inner content_placement=\"top\"][vc_column_inner][vc_single_image image=\"15123\" img_size=\"full\" alignment=\"center\" full_width=\"yes\" animation=\"animate-when-almost-visible\" css_animation=\"left-to-right\" css=\".vc_custom_1528195972333{margin-bottom: 0px !important;padding-bottom: 10px !important;}\"][vc_custom_heading text=\"Mr. Sanjay Swamy\" font_container=\"tag:h2|font_size:20px|text_align:center|color:%23d01f3c|line_height:26px\" 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_1528195880850{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: <div style=\"display:none\"><a href=\"http://info-health.best/health-articles/cracks-in-the-heels-causes-and-treatment-at-home.html\" title=\"Cracks in the heels\">Cracks in the heels</a></div> 0px !important;}\"][vc_column_text text_color=\"#555555\" font_size=\"16px\" letter_spacing=\"\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\" el_class=\"lh22\" css=\".vc_custom_1528195838838{margin-top: -10px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\"><em>Managing Partner &amp; Co-Founder Prime Venture Partners</em></p>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]<em>Catalyst <div style=\"display:none\"><a href=\"http://blog-workout.com/workout-blog/gymnastics-stretching-and-fitball-exercises.html\" title=\"Gymnastics\">Gymnastics</a></div> recently caught up with Mr. Sanjay Swamy on the promising innovations in the fintech and payments space in India.</em>[/vc_column_text][vc_empty_space height=\"20px\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#555555\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1528196385697{margin-top: 0px !important;padding-top: 0px !important;}\"]\r\n<div class=\"pred\"><strong>Merchant digital payment acceptance in India is still low at less than 5%. Why is small merchants / business digitisation particularly thorny? Is there a silver bullet here?</strong></div>\r\nDigital Payments have been slow to find adoption in the offline world in India. Three key reasons have come in the way of digital payment acceptance for small merchants.\r\nFirst, the friction to be included in the system - merchant acquirers have fairly complex requirements for the same\r\nSecond, post the one-time onboarding effort, there are several fundamental attributes of cash that digital payments do not have. This includes realization of full value - vs. transaction costs, instant settlement vs. next-day or T+2 settlements, anonymity vs. identified users - consumers often do not want to disclose their name or mobile number to merchants, and finally, traceability of transactions for merchants not wanting to report - though this is made out to be a lot bigger than I believe it is.\r\nThe third big reason for the slow uptake has been the inability and unwillingness of the payments service providers to invest in acquisition or education of the small merchant eco-system - largely because of the high costs of on-boarding and low relative ROI. Simplified KYC and/or restricting acceptance to debit-like instruments could make it possible to streamline the same and make it easy for one to start accept digital payments.\r\n\r\n&nbsp;\r\n<div class=\"pred\"><strong>With sales of feature phones on the upswing, how critical is the need for non-smartphone friendly solutions? How do we devise efficient workflows for feature phone driven payment solutions? Are there any exciting innovations here to look out for?</strong></div>\r\nNon-SmartPhone solutions are an ice-cube in the sun - it is clear that in the next two years the market will move entirely to smartphones and I for one am dubious about any innovations in the feature phone area having any meaningful adoption. I personally am not looking to invest in feature phone-based solutions in banking and payments. The Smartphone is the #1 aspirational product that non-smartphone users have today. I strongly advise entrepreneurs to ignore the current feature-phone market as it is not here to stay. I may be entirely wrong, but that is my view of the world.\r\n\r\n&nbsp;\r\n<div class=\"pred\"><strong>We have seen UPI overtake PPIs in uptake, on the other hand, the full-KYC mandate has affected <div style=\"display:none\"><a href=\"http://erektil-dysfunktion-specialist.net/sildenafil/kobe-sildigra-100mg-i-danmark-online.html\">Kobe Sildigra 100mg I Danmark Online</a></div> an erosion of user-base for PPIs with less than 10% of users updating to full KYC. Where do you see PPIs going from here? Is there a business case for PPIs even now, or is it the end of the road for them?</strong></div>\r\nUPI by itself isnï¿½t the threat to PPIï¿½s - it actually brings PPIï¿½s on par with the banks from an interoperability perspective. However, it is clear that this is the end-of-the-road for vanilla PPIï¿½s, as the benefit over a traditional savings bank account has gone away. However, Iï¿½m glad to see the more successful PPIï¿½s innovating rapidly and bringing a differentiated experience, becoming marketplaces for credit. The ongoing success of a PPI will be a result of their ability to continue to innovate ahead of banks.\r\n\r\n&nbsp;\r\n<div class=\"pred\"><strong>UPI and Aadhaar Pay are powerful but still relatively nascent technologies that are growing and improving rapidly. At this stage, what are the key macro strategies to accelerate this growth?</strong></div>\r\nUPI is off to a rollicking start in the P2P payments space as it is a friction-free, zero-cost real-time solution. Aadhaar Pay on the other hand has a long-way to go before it hits any critical mass. The key to the success of both these technologies is investment in acceptance, and as these get universally accepted, you will see a lot more adoption.\r\n\r\n&nbsp;\r\n<div class=\"pred\"><strong>Prime Ventures has invested in several Fintech startups (for instance, Niyo) which digitize different elements of business activity such as payroll management, invoice discounting etc. Thus far, innovation has been restricted largely to the formal economy. How do you suggest innovation for the much larger informal sector be incentivised?</strong></div>\r\nFinancial Inclusion has been a key focus area for startups. However viable business models have yet to emerge. We are continuously evaluating such companies for investment, and Iï¿½m guessing we will start seeing viable companies emerge soon. The formal economy is very innovation ready, which is why we have backed several companies that are making financial services more accessible and providing a better experience for end-users - whether consumers or businesses.\r\n\r\n&nbsp;\r\n<div class=\"pred\"><strong>Outside your own portfolio, what are the two fintech companies to look out for? And whatï¿½s the next biggest payments idea that you are placing bets on? </strong></div>\r\nRather than name anyone, at Prime Venture Partners, weï¿½re constantly on the lookout for fintech entrepreneurs who have a differentiated understanding of the market, have a product innovation that is valuable to a large customer base, and have a distribution strategy that is cleverly scalable - at least over time. The next big payments idea Iï¿½m looking to back is hopefully the one the reader of this is working on, and Iï¿½m always happy to chat, brainstorm and if possible invest![/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]', 'A conversation with \'The Swamy\', Managing Partner & Co-Founder Prime Venture Partners', 'What are the two biggest hits and misses respectively in the recent development of India’s digital payments ecosystem from your vantage point, as they relate to financial inclusion?', 'publish', 'closed', 'open', '', 'tete-tete-mr-sanjay-swamy-managing-partner-co-founder-prime-venture-partners', '', '', '2018-06-08 14:45:13', '2018-06-08 14:45:13', '', 0, 'http://cashlesscatalyst.org/?p=15085', 14, 'post', '', 0),
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INSERT INTO `in_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(40084, 12, '2019-01-17 07:50:53', '2019-01-17 07:50:53', '[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=\"40095\"][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/MoT-Learning-Note.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner 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 &amp; 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=\"150\" padding_bottom=\"150\" inline_style=\"font-style: normal;\" bg_image=\"40098\"][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=\"image\" bg_color=\"#373b3c\" padding_top=\"150\" padding_bottom=\"150\" inline_style=\"font-style: normal;\" bg_image=\"40100\"][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:%23da4a62|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:%23da4a62|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=\"image\" bg_color=\"#c9213b\" padding_top=\"150\" padding_bottom=\"150\" inline_style=\"font-style: normal;\" bg_image=\"40101\"][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/MoT-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_1549445060846{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]', 'MARKERS OF TRUST: RECREATING DIGITAL ECOSYSTEMS FOR WOMEN IN LOW-INCOME CLUSTERS', '', 'publish', 'closed', 'closed', '', 'markers-trust-recreating-digital-ecosystems-women-low-income-clusters', '', '', '2019-02-06 09:24:23', '2019-02-06 09:24:23', '', 0, 'https://cashlesscatalyst.org/?page_id=40084', 0, 'page', '', 0),
(25073, 12, '2018-08-06 13:57:29', '2018-08-06 13:57:29', '[vc_row padding_bottom=\"0\"][vc_column][rev_slider_vc alias=\"keyinsights\"][/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=\"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_1549447417446{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]', 'Key Insights for Consumers and Merchants', '', 'publish', 'closed', 'closed', '', 'key-insights-consumers-merchants', '', '', '2019-02-06 10:03:41', '2019-02-06 10:03:41', '', 0, 'http://cashlesscatalyst.org/?page_id=25073', 0, 'page', '', 0),
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(22752, 13, '2018-07-03 11:53:31', '2018-07-03 11:53:31', '', 'Conversion-of-leads', '', 'inherit', 'closed', 'closed', '', 'conversion-of-leads', '', '', '2018-07-03 11:53:31', '2018-07-03 11:53:31', '', 22688, 'http://cashlesscatalyst.org/wp-content/uploads/2018/07/Conversion-of-leads.jpg', 0, 'attachment', 'image/jpeg', 0),
(24269, 13, '2018-07-11 13:19:09', '2018-07-11 13:19:09', '[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=\"24279\"][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\"]<h2 style=\"text-align: center;\">GEN-NEXT CHIT FUNDS — FROM DUSTY <em>DABBAS</em> TO DIGITAL <em>KHAATAS</em></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=\"http://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 width=\"1/4\"][vc_single_image image=\"24292\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1531316335980{padding-top: 17px !important;}\"][/vc_column_inner][vc_column_inner width=\"3/4\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]<p>The narrow streets of Bandha Basti meander as they lead up to the bright blue dwelling that houses the neighbourhood hero. A flight of concrete stairs leads to a vast space on the terrace where Farida Ben is seated on a large mattress - regal, yet welcoming as ever. </p>\r\n<p>A conversation quickly ensues over the tireless bleating of the family goat. From being a helper at a local anganwadi twelve years ago, to starting one of her own two years ago, Farida Ben was stirred by the socio-economic inequalities that she saw around her. She believes that these often result from a lack of awareness and literacy. After passing her class 10 examinations with her daughter Anam, there has been no turning back. Farida Ben took it upon herself to spread awareness about the benefits of literacy, financial literacy in particular, within her community and beyond.</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"24280\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"24271\" alignment=\"center\"][vc_custom_heading text=\"CHIT FUNDS FOR COMMUNITY SAVING AND BORROWING\" 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_1531313255374{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][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]<p>Having been a part of a few small chit funds* herself, Farida Ben started her own chit fund with a group of twenty members, and monthly installments of Rs. 100. She collects these installments diligently and stores the cash in an old dabba (box) in her house. In the middle of our conversation, she disappears for a few minutes and returns with a dusty old register. She flips the pages to show us the manual entries she has made pertaining to the transactions in the six chit funds she has organized so far. When asked what her primary motivation for starting the chit funds was, she explains that she believes it is a brilliant way to inculcate a habit of money-handling and saving in the community.</p>\r\n[/vc_column_text][vc_column_text text_color=\"#383b3b\" font_size=\"14px\" letter_spacing=\"\"]<p style=\"text-align: left;\"><em>*Chit funds are a savings-cum-borrowing scheme prevalent in India that are based on community trust. Members from a community come together and make monthly deposits for a period of months equal to the number of members. Every month, a reverse auction is held wherein the member with the lowest bid - and hence, in dire need of the money wins. The remaining amount is distributed among all the members. Each member can only win a bid once in the duration of the chit fund.</em></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\"][vc_column][vc_single_image image=\"24272\" alignment=\"center\"][vc_custom_heading text=\"OLD REGISTERS, TORN NOTES, AND ASSOCIATED PERILS\" 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_1531380495396{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=\"\"]<p>When asked whether she believes that keeping all that cash in a dabba at home is dangerous, she nods and tells us that she has often felt that way. Apart from that, she informs us that quite a few of her clients have lied about making payments. She would turn to her dusty register to deal with such fraudulent cases, but this consumes a lot of her time. Sometimes, she has to go door-to-door to collect money from the members who do not make their payments on time. There have also been instances when she would find torn and taped Rs. 500 notes in her stash. She has had to personally get these exchanged from a bank branch, which is quite far away.</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"24281\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"24412\" alignment=\"center\"][vc_custom_heading text=\"KYEPOT LEADS THE WAY\" 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_1531381239733{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=\"\"]<p>Farida Ben is delighted to hear that there is now a quicker way for these payments to reach her. This delight is doubled when she hears that the money will go straight to her Khaata (account) on a timely basis. She beams excitedly at the prospect of Kyepot - a fintech startup that aims to digitize the entire chit fund process by creating a mobile application-based platform for chit funds and related transactions. This seems to be the one-stop solution for her hassles with managing cash and maintaining manual accounts and registers.</p>\r\n<p>She eagerly beckons her adolescents, Anam and Anas, to share this news. Anas already has a smartphone and Farida Ben promises Anam that she will get her one as well. She believes that youth are the face of digital transactions and that if given time, they will be able to assist some of her older group members to make the transition to digital.</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]<p style=\"text-align: left;\">Two weeks later, Anam and Anas are on a Skype conference call with Shradha Kampani, Head of Products at Kyepot. Anam’s brand new smartphone has arrived and been unboxed. The girls follow Shradha’s instructions as they install and explore the Kyepot application, so they can onboard the rest of their community. They are also taught how to download the BHIM application and make their first transaction using the Unified Payments Interface (UPI). This will enable them to organize transactions within the chit funds they will be managing on the Kyepot application.</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"24322\" alignment=\"center\"][vc_custom_heading text=\"OPENING DOORS TO DIGITAL PAYMENTS\" 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_1531326097605{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]<p>Are Anam and Anas going to use BHIM for purposes other than undertaking transactions on Kyepot? “Certainly!” - is the unanimous reply - “It is so convenient!”. They have just begun their exploration of the UPI world but are already enthusiastic about using it to make payments for healthcare services, payments at petrol pumps and even to pay their college fees. They are confident about propelling a similar adoption of digital payments among their peers.</p>\r\n<p>Farida Ben looks on proudly. She has clearly faced her fair share of hurdles - with stern opposition from her family in the beginning for organizing the chit funds in her home. But she is not one for excuses. She believes in action.</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][kleo_divider][/vc_column][/vc_row][vc_row][vc_column][kleo_button title=\"Download\" href=\"http://cashlesscatalyst.org/wp-content/uploads/2018/08/Gen-Next_Chit_Funds_From_Dusty_Dab_as_to_Digital_Khaatas.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]', 'Gen-Next Chit Funds - From Dusty Dabbas to Digital Khaatas', '', 'publish', 'closed', 'closed', '', 'gen-next-chit-funds-dusty-dabbas-digital-khaatas', '', '', '2018-08-13 07:17:15', '2018-08-13 07:17:15', '', 0, 'http://cashlesscatalyst.org/?page_id=24269', 0, 'page', '', 0),
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(29387, 12, '2018-10-03 16:16:48', '2018-10-03 16:16:48', '', 'Accepting_Mobile_Based_Payments', '', 'inherit', 'closed', 'closed', '', 'accepting_mobile_based_payments', '', '', '2018-10-03 16:16:48', '2018-10-03 16:16:48', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2018/10/Accepting_Mobile_Based_Payments.pdf', 0, 'attachment', 'application/pdf', 0),
(24301, 13, '2018-07-11 13:52:02', '2018-07-11 13:52:02', '', 'Learning', '', 'inherit', 'closed', 'closed', '', 'learning-2', '', '', '2018-07-11 13:52:02', '2018-07-11 13:52:02', '', 24294, 'http://cashlesscatalyst.org/wp-content/uploads/2018/07/Learning.png', 0, 'attachment', 'image/png', 0),
(40555, 0, '2019-02-26 06:24:55', '2019-02-26 06:24:55', '\n\n\n<title>Form Fill from Catalyst Website</title>\n\n\n<p>From: Sheral Shah <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: Sheral Shah<br />\nOrganization: N/A<br />\nEmail: sheral26shah@gmail.com<br />\nPhone No.: 9166160160<br />\nMessage: Hi, I am Sheral Shah. I am an MSc Economics graduate from the University of Warwick. I am looking for research oriented jobs in Jaipur. Would you have such an opportunity for me?<br />\nFile: Catalyst-Resume.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-13', '', '', '2019-02-26 06:24:55', '2019-02-26 06:24:55', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/form-fill-from-catalyst-website-13/', 0, 'postman_sent_mail', '', 0),
(25549, 12, '2018-08-24 13:38:37', '2018-08-24 13:38:37', '', 'Reg-sandbox', '', 'inherit', 'closed', 'closed', '', 'reg-sandbox', '', '', '2018-08-24 13:38:37', '2018-08-24 13:38:37', '', 25153, 'http://cashlesscatalyst.org/wp-content/uploads/2018/08/Reg-sandbox.jpg', 0, 'attachment', 'image/jpeg', 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
(25550, 12, '2018-08-24 13:38:52', '0000-00-00 00:00:00', '[vc_row full_height=\"yes\" equal_height=\"yes\" content_placement=\"middle\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"110\" padding_bottom=\"0\" bg_image=\"25451\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner][vc_custom_heading text=\"BOB DYLAN, MONEYBALL AND SANDBOXES\r\nWHAT’S BREWING AT THE POLICY TEAM AT CATALYST\" font_container=\"tag:h2|font_size:48px|text_align:center|color:%23ffffff|line_height:54px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"130px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\" css=\".vc_custom_1504265033147{padding-right: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265063058{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265782417{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"http://cashlesscatalyst.org/wp-content/uploads/2018/06/What-Cooking-in-our-Digital-Payments-Lab.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"20\" padding_bottom=\"20\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner width=\"1/3\"][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text text_color=\"#0c0c0c\" font_size=\"20px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]<em>For the times they are a-changin\'</em>\r\n<em><span style=\'text-align:right;display:block;\'>- Bob Dylan</span> </em>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Paul Volcker, the former head of the Federal Reserve once told American financial services executives that the ATM was the peak of innovation in the financial industry. While reasonable folks may disagree with Volcker, it is certain that the pace of innovation in the financial sector space is slow, in part, as an unintended consequence of entry-barriers and maze of regulations governing the sector. In the aftermath of the great financial crisis of 2008, regulatory caution is perhaps expected. Nonetheless, the absence of innovation in the financial sector may have consequential impact in terms of inhibiting the rate of financial inclusion for the poor. (There are structural/legal reasons for according stability a “first among equals” treatment among the several regulatory goals. For example, the constituent statutes of most central banks make stability and controlling inflation as their main goals. Thus there is an Institutional bias in favor of preserving stability).\r\n\r\nIn recent years, starting with the Financial Conduct Authority (UK), regulators have attempted to intermediate the tension between innovation and stability through the construct of a regulatory sandbox.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"] Simply put, a regulatory sandbox is a “safe space” in which businesses can test innovative products, services, business models and delivery mechanisms without incurring regulatory consequences of engaging in the activity in question.\r\n\r\nA controlled environment ensures that the businesses operate without any risk of enforcement actions from the regulators. (The actionable instrument here is in the form of a “No-action letter” that issues from the regulator to the entity experimenting for the duration of the experiment). Regulators from Australia, HK, Malaysia and Singapore have followed the template laid down by FCA and set up their own sandboxes.  In fact, as a CGAP paper on the issue tells us, more than 20 countries from Abu Dhabi to Sierra Leone have adopted the concept. Closer home, an internal working group at the RBI also appears to be convinced of the potential of a sandbox to promote innovation and has recommended that it be housed at the IDRBT.  <sup>2</sup>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"30\" bg_image=\"7841\"][vc_column][vc_column_text text_color=\"#0c0c0c\" font_size=\"20px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]<em>But why am I telling you all this? Because at Catalyst, continuing with our commitment to financial inclusion, we have embarked on a project that compliments the idea of regulatory sandbox. Jumping ahead of the regulatory sandbox curve if you will, we are presently documenting use-cases that remain constrained owing to regulatory, infrastructural or operational reasons. We have put together the first tranche of 7 such areas and propose to document a total of 15 scalable use-cases that are also relevant from a financial inclusion stand-point by the end of this exercise. We will disseminate the paper through a symposium and engage in concerted advocacy with the regulators along the way.</em>\r\n\r\n[/vc_column_text][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text font_size=\"16px\" letter_spacing=\"\"]I am going to walk you through the first tranche in a bit but before that, recall the scene from Moneyball when Billy Beane (Pitt) meets John Henry of the Boston Red Sox. Beane’s unorthodox approach to Baseball and reliance on statistics instead of scouts to source players had  the Oakland A’s on a 19 match unbeaten streak (that regrettably ended against Kansas in the playoffs). As John Henry told Beane:\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<em>“I know you’ve taken it in the teeth out there, but the first guy through the wall — he always gets bloody. Always. It’s the threat of not just the way of doing business, but in their minds, it’s threatening the game. But really what it’s threatening is their livelihoods. It’s threatening their jobs. It’s threatening the way that they do things. And every time that happens, whether it’s the government or a way of doing business or whatever it is, the people who are holding the reins — have their hands on the switch — they go batshit crazy.”</em>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Fintech start-ups are the Billy Beane of our ecosystem. They invest capital and intellectual labor in a business idea motivated to solve for apparently difficult problems that society faces. As with Baseball the incumbents and the hard-coded legal rules and processes don’t make their task any easier.\r\n\r\nIt is important therefore to create facilitative Institutional framework where they can test business cases with potentially consequential benefits for the society; like the use-case on enabling customized wealth management for the informal sector consumers that we have covered. It is common knowledge that they experience high cash-flow volatility and are often under/uninsured. Yet, we do not have a regulatory framework for offering customized portfolio management, based on their unique needs. We suggest some testable solutions.\r\n\r\nAadhaar-Pay is another use-case rich with potential given India’s poorly developed general card acquiring infrastructure. Aadhaar Pay can be used by merchants as an alternative to cost-intensive PoS infrastructure in areas where PoS penetration is poor. However, the current unit economics does not support banks to acquire merchants on Aadhaar Pay rails.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]We propose, among other things, a change in the pricing model that compensates the acquiring bank that can proliferate the Aadhaar-Pay solution.\r\n\r\nFinally, there is the emergent form of lending on a non-recourse basis; a platform matches borrower to a group of lenders discovering the coupon on the loan through bidding on the platform. At present, RBI’s regulatory framework has restricted the use-case by capping both the lender-side and borrower-side exposure.  However, there is case for experimenting the use of these platforms for micro and small business credit. Equally, there is a case for experimenting scenarios where Institutional capital invests in these businesses and not merely natural persons. Likewise, these platforms can facilitate deepening of  secondary market for loans on balance sheet of conventional originators. At present, the secondary market participants only include banks and ARCs. Testing if these platforms can buy, spread and manage that risk among their Institutional investors if successful can unlock another buyer group and move importantly, clean up the formal financial system of NPAs faster. More on this later!\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"30\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#0c0c0c\" font_size=\"20px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]I will leave you all with a quote from Money Ball, (the book this time): <em>“If you challenge conventional wisdom, you will find ways to do things much better than they are currently done.”</em>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10px\" padding_bottom=\"10px\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265268713{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265795099{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"http://cashlesscatalyst.org/wp-content/uploads/2018/06/What-Cooking-in-our-Digital-Payments-Lab.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"5\" padding_bottom=\"5\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"][starbox id=18]\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" disable_element=\"yes\" front_status=\"draft\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" column_gap=\"no\" padding_top=\"70px\" padding_bottom=\"50px\" margin_top=\"0px\" bg_image=\"9937\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1484826151396{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative seeded by an alliance between the Government of India &amp; USAID, to expand digital payments and financial inclusion in India, especially for small merchants and low-income consumers.</p>\r\n\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'Bob Dylan, Moneyball and Sandboxes- What’s brewing at the Policy team at Catalyst', '', 'draft', 'open', 'open', '', '', '', '', '2018-08-24 13:38:52', '0000-00-00 00:00:00', '', 0, 'http://cashlesscatalyst.org/?p=25550', 6, 'post', '', 0),
(24989, 12, '2018-08-03 05:10:59', '2018-08-03 05:10:59', '', 'chit_funds', '', 'inherit', 'closed', 'closed', '', 'chit_funds-2', '', '', '2018-08-03 05:10:59', '2018-08-03 05:10:59', '', 0, 'http://cashlesscatalyst.org/wp-content/uploads/2018/08/chit_funds.png', 0, 'attachment', 'image/png', 0),
(25068, 12, '2018-08-06 13:48:45', '2018-08-06 13:48:45', '[vc_row el_id=\"navigating-unchartered-waters\" type=\"image\" bg_color=\"#ffffff\" bg_repeat=\"repeat\" padding_top=\"\" padding_bottom=\"\"][vc_column][vc_row_inner equal_height=\"yes\" css=\".vc_custom_1486361953253{margin-bottom: 20px !important;padding-top: 5% !important;padding-right: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;}\"][vc_column_inner css=\".vc_custom_1486361714089{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"THE CONTEXT: NAVIGATING UNCHARTERED WATERS\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23373a3a|line_height:42px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487929448061{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">India is just starting its digital payments journey. Currently, its performance trails other BRIC nations -- Brazil, Russia, and China. In 2014, just over 50 percent of Indian adults held an account with a financial institution compared with nearly 70 percent of adults in other BRIC economies.</p>\r\n[/vc_column_text][vc_empty_space height=\"20px\"][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text font_size=\"17px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1488780203409{padding-right: 5.5% !important;padding-left: 5.5% !important;}\"]\r\n<p style=\"text-align: center;\"><strong>Digitization of person to merchant expenditure</strong></p>\r\n[/vc_column_text][vc_single_image image=\"12347\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1520528382671{margin-bottom: 10px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text font_size=\"17px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1488780103405{padding-right: 2.5% !important;padding-left: 2.5% !important;}\"]\r\n<p style=\"text-align: center;\"><strong>Digitization of small retailer to supplier payments</strong></p>\r\n[/vc_column_text][vc_single_image image=\"8955\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1487930203111{margin-bottom: 10px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text font_size=\"17px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1487930070492{padding-right: 2.5% !important;padding-left: 2.5% !important;}\"]\r\n<p style=\"text-align: center;\"><strong>Penetration of merchant digital payment acceptance</strong></p>\r\n[/vc_column_text][vc_single_image image=\"12591\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1521196337938{margin-bottom: 10px !important;}\"][/vc_column_inner][vc_column_inner][vc_column_text text_color=\"#1e73be\" font_size=\"14px\" letter_spacing=\"\"]\r\n<p style=\"text-align: right;\"><a style=\"color: #2b45d6;\" href=\"http://www.visa.co.in/aboutvisa/research/include/Digital_Payments_India.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Source</a></p>\r\n[/vc_column_text][kleo_gap size=\"40px\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<span style=\"color: #d11e3c;\"><a style=\"color: #d11e3c;\" href=\"https://www.globalinnovationexchange.org/beyond-cash\" target=\"_blank\" rel=\"noopener noreferrer\">Our own survey research</a></span> shows that 97 percent of retail transactions are conducted in cash or check; only 6 percent of merchants accept digital payments; and just over 10 percent consumers have used a debit card for payments in the last year in India.[/vc_column_text][vc_column_text font_size=\"16px\" letter_spacing=\"\"]However, Indians are now better financially and digitally connected than ever before. This reflects in the growth in Jan Dhan bank accounts for the poor, Aadhaar registrations which provide easy biometric authentication to access services and make transactions, mobile phone accounts, and Internet connectivity. In addition, several fiscal incentives and technology initiatives have been targeted at making India a less cash economy.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"12350\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1520528991452{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Jan Dhan bank accounts</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"9353\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1487932224593{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Aadhaar accounts</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"12352\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1520529246131{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Phone accounts</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"9356\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1487932239744{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Indians with Internet access</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\" el_class=\"square-bullet-red\"]<strong>Nevertheless, the digital payments last mile remains fragmented due to several factors: </strong>\r\n<ul>\r\n 	<li><span style=\"color: #373a3a;\">There are far too few digital payment acceptance points for consumer comfort</span></li>\r\n 	<li><span style=\"color: #373a3a;\">From the merchants’ perspective, there is insufficient demand from consumers</span></li>\r\n 	<li><span style=\"color: #373a3a;\">Synergies across service providers (payment infrastructure companies, banks, fintech innovators) are under-tapped in the absence of market facilitation mechanisms</span></li>\r\n 	<li><span style=\"color: #373a3a;\">Regulation lags behind innovation; this imbalance prevents a degree of customer protection needed for the functioning of a healthy market</span></li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" 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_1549447611165{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]', 'THE CONTEXT: NAVIGATING UNCHARTERED WATERS', '', 'publish', 'closed', 'closed', '', 'context-navigating-unchartered-waters', '', '', '2019-02-06 10:11:59', '2019-02-06 10:11:59', '', 0, 'http://cashlesscatalyst.org/?page_id=25068', 0, 'page', '', 0),
(40392, 23, '2019-02-06 10:06:59', '2019-02-06 10:06:59', '[vc_row el_id=\"navigating-unchartered-waters\" type=\"image\" bg_color=\"#ffffff\" bg_repeat=\"repeat\" padding_top=\"\" padding_bottom=\"\"][vc_column][vc_row_inner equal_height=\"yes\" css=\".vc_custom_1486361953253{margin-bottom: 20px !important;padding-top: 5% !important;padding-right: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;}\"][vc_column_inner css=\".vc_custom_1486361714089{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"THE CONTEXT: NAVIGATING UNCHARTERED WATERS\" font_container=\"tag:h2|font_size:36px|text_align:center|color:%23373a3a|line_height:42px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487929448061{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">India is just starting its digital payments journey. Currently, its performance trails other BRIC nations -- Brazil, Russia, and China. In 2014, just over 50 percent of Indian adults held an account with a financial institution compared with nearly 70 percent of adults in other BRIC economies.</p>\r\n[/vc_column_text][vc_empty_space height=\"20px\"][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text font_size=\"17px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1488780203409{padding-right: 5.5% !important;padding-left: 5.5% !important;}\"]\r\n<p style=\"text-align: center;\"><strong>Digitization of person to merchant expenditure</strong></p>\r\n[/vc_column_text][vc_single_image image=\"12347\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1520528382671{margin-bottom: 10px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text font_size=\"17px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1488780103405{padding-right: 2.5% !important;padding-left: 2.5% !important;}\"]\r\n<p style=\"text-align: center;\"><strong>Digitization of small retailer to supplier payments</strong></p>\r\n[/vc_column_text][vc_single_image image=\"8955\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1487930203111{margin-bottom: 10px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text font_size=\"17px\" letter_spacing=\"\" el_class=\"lh24\" css=\".vc_custom_1487930070492{padding-right: 2.5% !important;padding-left: 2.5% !important;}\"]\r\n<p style=\"text-align: center;\"><strong>Penetration of merchant digital payment acceptance</strong></p>\r\n[/vc_column_text][vc_single_image image=\"12591\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"el-fade\" css=\".vc_custom_1521196337938{margin-bottom: 10px !important;}\"][/vc_column_inner][vc_column_inner][vc_column_text text_color=\"#1e73be\" font_size=\"14px\" letter_spacing=\"\"]\r\n<p style=\"text-align: right;\"><a style=\"color: #2b45d6;\" href=\"http://www.visa.co.in/aboutvisa/research/include/Digital_Payments_India.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Source</a></p>\r\n[/vc_column_text][kleo_gap size=\"40px\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<span style=\"color: #d11e3c;\"><a style=\"color: #d11e3c;\" href=\"https://www.globalinnovationexchange.org/beyond-cash\" target=\"_blank\" rel=\"noopener noreferrer\">Our own survey research</a></span> shows that 97 percent of retail transactions are conducted in cash or check; only 6 percent of merchants accept digital payments; and just over 10 percent consumers have used a debit card for payments in the last year in India.[/vc_column_text][vc_column_text font_size=\"16px\" letter_spacing=\"\"]However, Indians are now better financially and digitally connected than ever before. This reflects in the growth in Jan Dhan bank accounts for the poor, Aadhaar registrations which provide easy biometric authentication to access services and make transactions, mobile phone accounts, and Internet connectivity. In addition, several fiscal incentives and technology initiatives have been targeted at making India a less cash economy.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"12350\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1520528991452{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Jan Dhan bank accounts</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"9353\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1487932224593{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Aadhaar accounts</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"12352\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1520529246131{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Phone accounts</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"9356\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1487932239744{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Indians with Internet access</p>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\" el_class=\"square-bullet-red\"]<strong>Nevertheless, the digital payments last mile remains fragmented due to several factors: </strong>\r\n<ul>\r\n 	<li><span style=\"color: #373a3a;\">There are far too few digital payment acceptance points for consumer comfort</span></li>\r\n 	<li><span style=\"color: #373a3a;\">From the merchants’ perspective, there is insufficient demand from consumers</span></li>\r\n 	<li><span style=\"color: #373a3a;\">Synergies across service providers (payment infrastructure companies, banks, fintech innovators) are under-tapped in the absence of market facilitation mechanisms</span></li>\r\n 	<li><span style=\"color: #373a3a;\">Regulation lags behind innovation; this imbalance prevents a degree of customer protection needed for the functioning of a healthy market</span></li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" 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_1549447611165{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]', 'THE CONTEXT: NAVIGATING UNCHARTERED WATERS', '', 'inherit', 'closed', 'closed', '', '25068-revision-v1', '', '', '2019-02-06 10:06:59', '2019-02-06 10:06:59', '', 25068, 'https://cashlesscatalyst.org/media/25068-revision-v1/', 0, 'revision', '', 0),
(38269, 20, '2018-11-02 18:26:24', '2018-11-02 18:26:24', '', 'tier', '', 'inherit', 'closed', 'closed', '', 'tier', '', '', '2018-11-02 18:26:24', '2018-11-02 18:26:24', '', 38222, 'https://cashlesscatalyst.org/wp-content/uploads/2018/11/tier.jpg', 0, 'attachment', 'image/jpeg', 0),
(40548, 0, '2019-02-24 10:54:14', '2019-02-24 10:54:14', '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-15', '', '', '2019-02-24 10:54:14', '2019-02-24 10:54:14', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/autoptimize-cache-size-warning-httpscashlesscatalyst-org-15/', 0, 'postman_sent_mail', '', 0),
(40547, 0, '2019-02-23 19:09:16', '2019-02-23 19:09:16', '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: CecilDob (IP: 90.188.255.142, 90.188.255.142)\r\nEmail: aristarhyudin95@mail.ru\r\nURL: \r\nComment: \r\nЖелезнодорожные перевозки. Анналы возникновения и развития \r\nНыне грузовые железнодорожные перевозки представляют собой симбиоз инженерных достижений в области средств передвижения и оптимального процесса управления продвижением товаров и услуг через поставщиков к потребителям. Железнодорожные превозки. ТК БИРТРАНСЖелезнодорожные перевозки грузов по-прежнему считаются самым быстрым, удобным и наименее затратным способом доставки различных грузов – от тяжелой строительной техники до скоро портящихся продуктов питания.Объясняется это в первую очередь тем, что железнодорожные перевозки находятся вне конкуренции, если филиппика соглашаться о транспортировке тяжелых и негабаритных грузов: строительной техники (кранов, экскаваторов, самосвалов), крупногабаритных технических изделий (предположим, опор ЛЭП, железобетонных плит, перекрытий и т.п.). Железнодорожные превозки. ТК БИРТРАНС Присутствие этом размеры данных грузов ограничены чуть размерами самого подвижного состава, который будет исполнять железнодорожную перевозку. Более того - современная строительная техника целенаправленно проектируется именно с расчетом для то, сколько ее доставка довольно осуществляться железнодорожным транспортом. \r\nДля всем протяжении цивилизации личность издревле задумывался, чем ему перетащить или перевезти тяжеловесный, крупногабаритный, да и весь всякий багаж, кто он лично не в состоянии перенести. Так были изобретены простые транспортные средства, ровно сани, повозка, плот, лодка. Если усилие человека в качестве тяговой силы уже было не достаточно, люди стали пользоваться животных: волов, верблюдов и, очевидно же, лошадей. \r\nСнова в Древней Греции существовала необходимость перевозки тяжеловесного и негабаритного груза. Ради сокращения водного пути из Саронического залива в Коринфский существовал каменный способ, называемый Диолком с глубокими желобами в качестве направляющих и который служил чтобы перемещения волоком тяжелых кораблей. \r\n \r\n[url=http://sounds-park.com/index.php?p=/discussion/112529/perevozka-gruzov-zheleznodorozhnym-transportom?new=1]правила железнодорожных перевозок	[/url]\r\n[url=http://www.so0912.com/home.php?mod=space&amp;uid=144466]железнодорожные перевозки вагонами	[/url]\r\n[url=https://vw88vn.com/forum/profile.php?section=personality&amp;id=76501]правила железнодорожных перевозок	[/url]\r\n[url=http://www.supratraderonline.com/author/porchnfear28/]правила железнодорожных перевозок грузов	[/url]\r\n[url=http://wafironline.com/author/malikmoore28/]перевозки железнодорожным транспортом	[/url]\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12046#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12046#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12046#wpbody-content\r\nCurrently 107 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-31', '', '', '2019-02-23 19:09:16', '2019-02-23 19:09:16', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-31/', 0, 'postman_sent_mail', '', 0),
(39515, 12, '2018-12-04 11:45:06', '2018-12-04 11:45:06', '[vc_row][vc_column][vc_column_text letter_spacing=\"\"]<p style=\"color: #d06728;\"><strong>Innovative Digital Payment Business Models for Small Merchants and Low-income Households</strong></p>\r\n<p><strong style=\"color: #d06728;\">A closed-door session on ï¿½Innovative Digital Payment Business Models for Small Merchants and Low-income Householdsï¿½ was held as a break-out session at the Inclusive Finance India Summit 2018, at Hotel Ashok, New </strong></p><div style=\"display:none\"><strong style=\"color: #d06728;\"><a href=\"http://iron-info.biz/iron-bodybuilding-blog/ascorbic-acid-vitamin-c-functions-in-the-body-and.html\" title=\"Ascorbic acid (Vitamin C) functions in the body and in which foods\">Ascorbic acid (Vitamin C) functions in the body and in which foods</a></strong></div><strong style=\"color: #d06728;\"> Delhi, on 12 December, at 12:30pm.</strong><p></p>\r\n<p>The session accentuated how </p><div style=\"display:none\"><a href=\"https://pfckebab.co.uk/pfc/\" title=\"Cialis 20mg preise\">Cialis 20mg preise</a></div> to responsibly transition small business ecosystems (i.e. merchants, low income customers, suppliers) to a digital payment platform. It covered series of interventions undertaken by CATALYST in Jaipur across the low-income ecosystems to understand the opportunities for digitizing payments.<p></p>\r\n<p>While digital finance has increased significantly in India in recent years, there exist significant gaps in reaching out to the last mile. Micro-merchants and low-income households, in particular, remain an under-served segment in digital finance. Building on a set of experiments facilitated by CATALYST in Jaipur, the discussions provided insights for solution frameworks and business models by implementing a learning-by-doing approach. The speakers presented major insights from four types of business models:</p>\r\n<ol>\r\n<li>Distributors and their merchant networks in dairy, pharmaceutical, and FMCG supply chains</li>\r\n<li>Low-income households in urban slums,</li>\r\n<li>Payment collections for subscription-based services, and</li>\r\n<li>Fixed store <div style=\"display:none\"><a href=\"http://info-pull.xyz/health-care-blog/toothache-than-remove-at-home-in-an-adult-health.html\" title=\"Toothache than remove at home in an adult Health Blog\">Toothache than remove at home in an adult Health Blog</a></div> kirana merchants</li>\r\n</ol>\r\n<p>The session brought together practitioners, policy influencers, and financial service providers. </p><div style=\"display:none\"><a href=\"http://info-health.best/health-articles/signs-of-cirrhosis-in-men-and-women-treatment.html\" title=\"Signs of cirrhosis in men and women\">Signs of cirrhosis in men and women</a></div> The presentation <div style=\"display:none\"><a href=\"http://hammer-wiki.com/fitness-is-training-proper-nutrition-and/mahi-kick-back-with-the-simulator-lever.html\" title=\"Mahi kick back with the simulator lever\">Mahi kick back with the simulator lever</a></div> was facilitated by Jayshree Venkatesan (Financial Sector Specialist) and Ayush Chauhan (Design Strategy and Innovation Specialist).<p></p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Break-out session at Inclusive Finance India Summit 2018', 'Break-out session at Inclusive Finance India Summit 2018</br>\r\nDate: 12 December 2018\r\n', 'publish', 'closed', 'open', '', 'discussion-ifi-summit-2018', '', '', '2018-12-17 10:57:05', '2018-12-17 10:57:05', '', 0, 'https://cashlesscatalyst.org/?p=39515', 0, 'post', '', 0),
(39516, 12, '2018-12-04 11:45:06', '2018-12-04 11:45:06', '[vc_row][vc_column][vc_column_text letter_spacing=\"\"]<p style=\"color: #d06728;\"><strong>Attendance:</strong>Innovative Digital Payment Business Models for Small Merchants and Low-income Households</p>\r\n<p style=\"color: #d06728;\"><strong>Date:</strong>12 December 2018</p>\r\n<p style=\"color: #d06728;\"><strong>Location:</strong>Hotel Ashok, New Delhi</p>\r\n<p style=\"color: #d06728;\"><strong>A closed-door session on \'Innovative Digital Payment Business Models for Small Merchants and Low-income Households\' is being held as a break-out session at the Inclusive Finance India Summit 2018, at Hotel Ashok, New Delhi, on 12 December, at 12:30pm.</strong></p>\r\n<p style=\"color: #d06728;\"><strong>About the session</strong></p>\r\n<p>While digital finance has increased significantly in India in recent years, there exist significant gaps in reaching out to the last mile. Micro-merchants and low-income households, in particular, remain an under-served segment in digital finance. CATALYST has facilitated a set of experiments that provide insights for solution frameworks and business models by implementing a learning-by-doing approach.</p>\r\n<p>This session will present major insights from four types of business models that have emerged:</p>\r\n<ul>\r\n<li>Distributors and their merchant networks in dairy, pharmaceutical, and FMCG supply chains</li>\r\n<li>Low-income households in urban slums,</li>\r\n<li>Payment collections for subscription-based services, and</li>\r\n<li>Fixed store kirana merchants</li>\r\n</ul>\r\n<p>The session will be highly interactive and will bring together practitioners, policy influencers, and financial service providers to brainstorm on ideas on how to responsibly transition small business ecosystems (i.e. merchants, low income customers, suppliers) to a digital payment platform, while building on CATALYST insights. </p>\r\n<p style=\"color: #d06728;\">The  session will be facilitated by Ayush Chauhan (Design Strategy and Innovation Specialist) and Jayshree Venkatesan (Financial Sector Specialist).</p>[/vc_column_text][/vc_column][/vc_row]', 'Discussion at IFI Summit 2018', '', 'inherit', 'closed', 'closed', '', '39515-revision-v1', '', '', '2018-12-04 11:45:06', '2018-12-04 11:45:06', '', 39515, 'https://cashlesscatalyst.org/media/39515-revision-v1/', 0, 'revision', '', 0),
(40538, 0, '2019-02-21 00:13:31', '2019-02-21 00:13:31', '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: KevinFit (IP: 46.246.25.86, 46.246.25.86)\r\nEmail: cmirno.vvpa.v.v@gmail.com\r\nURL: http://bestpornuha.com/\r\nComment: \r\nПриветствую тебя наперсник для страницах сайта Лучшая Порнуха [url=http://bestpornuha.com/]http://bestpornuha.com/[/url], где ты постоянно можешь насладиться горячими видео роликами ради взрослых. Наша первенство ежедневный добавляет новое порно видео в hd качестве, для ты мог с удовольствием подрочить на сексуальных девушек в самых извращённых позах. \r\n \r\nТогда мы собираем отборную порнуху и раскладываем ее по категориям чтобы удобного поиска и выбора, интересующего секс видео. Здесь найдутся ролики и с анальным проникновением, и симпатичные развратницы в чулках, и скромные азиатки с волосатыми пилотками, и жопастые латинки с аппетитными попками. В общем подобрать себе видео для приятного век препровождения не составит труда. \r\n \r\nВыключая выбора категории с качественным видео, дозволительно отфильтровать ролики по порно студиям, которых для сайте в избытке. Из самых популярных позволительно выделить Insubordinate America, Brazzers, RealityKings, Collaborate Skeet, Modern Sensations, Blacked, Vixen, 21Sextury, Nubiles, Passion-HD, Mofos, Babes, SexArt, X-Art, DDF Network, BangBros, 21Naturals, Wow Porn Girls, Jules Jordan, Digital Playground и некоторый другие. \r\n \r\nОднако это доступно тут круглосуточно для всех желающих все бесплатно. Каждое порно http://bestpornuha.com/negro/ дозволительно не единственно посмотреть в режиме онлайн, только и скачать для свое уклад, воеже радоваться просмотром без доступа в интернет.\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12043#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12043#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12043#wpbody-content\r\nCurrently 104 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-126', '', '', '2019-02-21 00:13:31', '2019-02-21 00:13:31', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-126/', 0, 'postman_sent_mail', '', 0),
(39522, 12, '2018-12-04 12:35:19', '2018-12-04 12:35:19', '[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 12, 2018</p>\r\n<p style=\"color: #d06728;\"><strong>Location:</strong>Hotel Ashok, New delhi</p>\r\n<p>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, we are yet to see the power of these systems delivered to end users at scale. 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>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 to promote companies that have reimagined financial solutions for the underserved. The program provided these companies with financial, technical and operational support, and integrated their work into its \'Digital Payment Lab\' in Jaipur.</p>\r\n<p>This session will present the five unique companies that participated in the first batch of this program, highlighting the opportunities and barriers associated with addressing the needs of this segment. 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 style=\"color: #d06728;\"><strong>The five startups -  </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<p><strong>PayBee’s</strong> solution automates and digitizes B2B collections in the distributor-retailer value chain.<strong>Kaleidofin</strong> is a platform that provides tailored financial services to the mass market including populations who are un/under-banked and have significant variability in their income.</p>\r\n<p><strong>Kaleidofin</strong> is a platform that provides tailored financial services to the mass market including populations who are un/under-banked and have significant variability in their income.</p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Technical Session at Inclusive Finance India Summit 2018', '', 'inherit', 'closed', 'closed', '', '39512-revision-v1', '', '', '2018-12-04 12:35:19', '2018-12-04 12:35:19', '', 39512, 'https://cashlesscatalyst.org/media/39512-revision-v1/', 0, 'revision', '', 0);
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(40543, 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-130', '', '', '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-130/', 0, 'postman_sent_mail', '', 0),
(39521, 12, '2018-12-04 12:34:42', '2018-12-04 12:34:42', '[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 12, 2018</p>\r\n<p style=\"color: #d06728;\"><strong>Location:</strong>Hotel Ashok, New delhi</p>\r\n<p>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, we are yet to see the power of these systems delivered to end users at scale. 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>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 to promote companies that have reimagined financial solutions for the underserved. The program provided these companies with financial, technical and operational support, and integrated their work into its \'Digital Payment Lab\' in Jaipur.</p>\r\n<p>This session will present the five unique companies that participated in the first batch of this program, highlighting the opportunities and barriers associated with addressing the needs of this segment. 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 style=\"color: #d06728;\"><strong>The five startups -  </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<p><strong>PayBee’s</strong> solution automates and digitizes B2B collections in the distributor-retailer value chain.<strong>Kaleidofin</strong> is a platform that provides tailored financial services to the mass market including populations who are un/under-banked and have significant variability in their income.</p>\r\n<p><strong>Kaleidofin</strong>is a platform that provides tailored financial services to the mass market including populations who are un/under-banked and have significant variability in their income.</p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Technical Session at Inclusive Finance India Summit 2018', '', 'inherit', 'closed', 'closed', '', '39512-revision-v1', '', '', '2018-12-04 12:34:42', '2018-12-04 12:34:42', '', 39512, 'https://cashlesscatalyst.org/media/39512-revision-v1/', 0, 'revision', '', 0),
(41086, 0, '2019-04-02 04:37:54', '2019-04-02 04:37:54', '\n\n\n<title>Form Fill from Catalyst Website</title>\n\n\n<p>From: Atrayee Das Chaudhuri <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: Atrayee Das Chaudhuri<br />\nOrganization: Archipel &amp; Co<br />\nEmail: atrayee.das-chaudhurii@azao-conseil.com<br />\nPhone No.: 9908357568<br />\nMessage: Hi Catalyst team,</p>\n<p>My name is Atrayee and I work for a French Consulting firm. We are currently doing a study to understand start-ups in India and other developing countries.</p>\n<p>We are inspired by Catalyst&#039;s journey and would like to discuss more to present you as a case study to several international clients.</p>\n<p>Please connect to discuss more.</p>\n<p>Best Regards,<br />\nAtrayee<br />\nFile: Digital-divide-and-opportunities-for-informal-sector-Azao.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-30', '', '', '2019-04-02 04:37:54', '2019-04-02 04:37:54', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/form-fill-from-catalyst-website-30/', 0, 'postman_sent_mail', '', 0),
(26177, 12, '2018-09-18 12:50:35', '2018-09-18 12:50:35', '', 'digitizal', '', 'inherit', 'closed', 'closed', '', 'digitizal', '', '', '2018-09-18 12:50:35', '2018-09-18 12:50:35', '', 26174, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/digitizal.jpg', 0, 'attachment', 'image/jpeg', 0),
(26178, 12, '2018-09-18 12:53:39', '2018-09-18 12:53:39', '', 'digitizal', '', 'inherit', 'closed', 'closed', '', 'digitizal-2', '', '', '2018-09-18 12:53:39', '2018-09-18 12:53:39', '', 26174, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/digitizal-1.jpg', 0, 'attachment', 'image/jpeg', 0),
(24681, 12, '2018-07-16 14:52:27', '2018-07-16 14:52:27', '[vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"image\" bg_position_horizontal=\"center\" padding_top=\"65px\" padding_bottom=\"65px\" bg_image=\"25433\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner width=\"1/6\"][vc_single_image image=\"10108\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-visible\" css_animation=\"el-fade\"][/vc_column_inner][vc_column_inner width=\"5/6\"][vc_custom_heading text=\"Catalyst FINposium 10\" font_container=\"tag:h2|font_size:26px|text_align:left|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=\"\" css=\".vc_custom_1531984120377{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#ffffff\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]<strong>Event:</strong> Developing Business Models for Mass Digital Payments in India\r\n<strong>Date:</strong> August 8<sup>th</sup>, 2018\r\n<strong>Location:</strong> Grand Hyatt, Santacruz (East), Mumbai, India\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" padding_bottom=\"0\"][vc_column][vc_row_inner][vc_column_inner][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=\"\" css=\".vc_custom_1534942548653{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]Catalyst organized a day-long FINposium, titled, \'Developing Business Models for Mass Digital Payments in India\', in Mumbai on August 8<sup>th</sup>, 2018. The discussions aimed at identifying new potential strategies to deepen digital payments acceptance and financial inclusion in the small business segment. It brought together key stakeholders from diverse industries, including financial and digital service providers, fintech companies, banks, supply chain players, and industry aggregators.\r\n\r\nThe workshop witnessed the launch of Catalyst and PRICE’s joint research titled, <a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/05/price_report-web.pdf\">‘Mapping the Merchant’s Mind – An Analysis of Digital Payment Behaviors by Fixed Store Merchants in Jaipur’.</a>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_custom_heading text=\"OBJECTIVES\" 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=\"\" css=\".vc_custom_1534942561810{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\r\n<ul class=\"pclist-red\">\r\n 	<li>Discuss learnings from the ground and identify potential ecosystem strategies to deepen digital payments acceptance and financial inclusion</li>\r\n 	<li>Learn and offer new insights that can be used by practitioners to design meaningful value propositions for small businesses</li>\r\n 	<li>Share stream of action learnings from Catalyst’s ongoing operational activities in its <a href=\"https://cashlesscatalyst.org/digital-payment-lab/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color: #d11e3c;\"><strong>Digital Payments Lab</strong></span></a> and <a href=\"https://cashlesscatalyst.org/incubator/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color: #d11e3c;\"><strong>Fintech for the Last Mile incubator program, </strong></span></a>and</li>\r\n 	<li>Highlight insights based on the joint research conducted by Catalyst and People Research on India’s Consumer Economy (PRICE)</li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_custom_heading text=\"PANEL DISCUSSION\" 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=\"\" css=\".vc_custom_1534942748114{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\r\n\r\n<strong>Digitizing merchant payments in India: Opportunities and strategies to promote adoption </strong>\r\n\r\nModerator : Rama Bijapurkar, Chairperson, PRICE\r\n\r\nThe power-packed panel clearly highlighted what has been tried, what worked, what did not, and further focused on discussing the following – assessing the nature of the opportunity for solution providers and the last mile audience, challenges and insights into the problems, solutions, strategies for the future, and \'must-have\' enablers.\r\n\r\nThe discussions focused on opportunities for ecosystem players to develop innovative solutions and business models, understanding challenges in taking these strategies to the market, answering the key question for merchants (what’s in it for me?), and considerations for future actions.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/4\"][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_video link=\"https://www.youtube.com/watch?v=mDFIaHS1u1k\" align=\"center\"][vc_empty_space][/vc_column_inner][vc_column_inner width=\"1/4\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_custom_heading text=\"KEY INSIGHTS\" 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=\"\" css=\".vc_custom_1534943974768{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\r\n<ul>\r\n 	<li><strong>The inevitable role of technology breakthroughs</strong> – Taking technology to potential users to build business out of it and add value for customers and businesses</li>\r\n 	<li><strong>Credit as a hook and collections are key drivers</strong> – For adoption and acceptance of digital payment solutions among micro and small merchants across the ecosystem – suppliers, distributors and retailers</li>\r\n 	<li><strong>Digital and physical access to services and solutions</strong> - Both are important drivers in reaching out to potential users for universal inclusion</li>\r\n 	<li><strong>Challenge of building digital payments acceptance at scale in India</strong> – To get a meaningful number of users beyond aspiration i.e.to include everyone to make digital financial inclusion a reality</li>\r\n 	<li><strong>Innovation is key to building strategies to reach the last mile audience</strong> – It is vital to build deeper context on small business profiles, needs, behaviors, and perceptions before a solution or a service is introduced for its acceptance and adoption and</li>\r\n 	<li><strong>Are merchants making more money? What’s in it for merchants?</strong> – These are few questions that digital payment solution providers should be able to answer to get the micro, medium, and small merchants on board</li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_custom_heading text=\"ALL ABOUT CONTEXT: Urban and Rural Use Cases \" 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=\"\" css=\".vc_custom_1534943984729{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\r\nWhile a confluence of government and industry initiatives have increased non-cash payments, this has been confined mostly to peer-to-peer use cases. The discussions here focused on deliberating some evidence-based approaches to digitize mass payments. This session showcased learnings from emerging business models and use cases on payments digitization and financial inclusion across urban and rural areas.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" padding_top=\"0\" padding_bottom=\"20\"][vc_column][vc_custom_heading text=\"RESOURCES\" 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=\"\" css=\".vc_custom_1534943992080{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\r\n<p class=\"underline\"><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/F10-agenda.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Agenda</a></p>\r\nPresentations\r\n<ul class=\"pclist-red underline\">\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/digitizing_fixed_store_merchants.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Digitizing fixed store merchants</a></li>\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/digitizing_supply_chain_payments.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Digitizing supply chain payments</a></li>\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/low_income_BB_final.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Building integrated digital finance models for an urban low-income cluster</a></li>\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/remote_payment_use_case.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Digitizing small vendors with remote collections needs</a></li>\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/credit_as_a_hook.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Credit as a hook to induce digital payment adoption</a></li>\r\n</ul>\r\nInsights from Catalyst-PRICE study on\r\n<ul class=\"pclist-red underline\">\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/MAPPING_THE_MERCHANTS_MIND.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Mapping the Merchant\'s Mind- An Analysis of Digital Payment Behaviors of Micro Merchants in Jaipur</a></li>\r\n</ul>\r\n[/vc_column_text][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]The session further captured delegates\' brainstorm on key challenges in operationalizing digital payment business models in India, keeping the use cases discussed in the previous session as reference, and identifying potential strategies to address these barriers in building digital payments acceptance at scale.\r\n\r\nThe workshop concluded with deliberations on challenges and opportunities for ecosystem players to develop innovative and needs-based payment solutions and business models for the \'last mile\' consumers and merchant – <strong>how they interact with financial tools, what are their barriers, and what are the value propositions that induce them to transact digitally.</strong>\r\n\r\n[/vc_column_text][vc_empty_space height=\"50px\"][/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_1549447633759{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]', 'Partner Convening 10', '', 'publish', 'closed', 'closed', '', 'partner-convening-10', '', '', '2019-02-06 10:13:11', '2019-02-06 10:13:11', '', 0, 'http://cashlesscatalyst.org/?page_id=24681', 0, 'page', '', 0),
(40395, 23, '2019-02-06 10:07:20', '2019-02-06 10:07:20', '[vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"image\" bg_position_horizontal=\"center\" padding_top=\"65px\" padding_bottom=\"65px\" bg_image=\"25433\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner width=\"1/6\"][vc_single_image image=\"10108\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-visible\" css_animation=\"el-fade\"][/vc_column_inner][vc_column_inner width=\"5/6\"][vc_custom_heading text=\"Catalyst FINposium 10\" font_container=\"tag:h2|font_size:26px|text_align:left|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=\"\" css=\".vc_custom_1531984120377{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#ffffff\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]<strong>Event:</strong> Developing Business Models for Mass Digital Payments in India\r\n<strong>Date:</strong> August 8<sup>th</sup>, 2018\r\n<strong>Location:</strong> Grand Hyatt, Santacruz (East), Mumbai, India\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\" padding_bottom=\"0\"][vc_column][vc_row_inner][vc_column_inner][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=\"\" css=\".vc_custom_1534942548653{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]Catalyst organized a day-long FINposium, titled, \'Developing Business Models for Mass Digital Payments in India\', in Mumbai on August 8<sup>th</sup>, 2018. The discussions aimed at identifying new potential strategies to deepen digital payments acceptance and financial inclusion in the small business segment. It brought together key stakeholders from diverse industries, including financial and digital service providers, fintech companies, banks, supply chain players, and industry aggregators.\r\n\r\nThe workshop witnessed the launch of Catalyst and PRICE’s joint research titled, <a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/05/price_report-web.pdf\">‘Mapping the Merchant’s Mind – An Analysis of Digital Payment Behaviors by Fixed Store Merchants in Jaipur’.</a>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_custom_heading text=\"OBJECTIVES\" 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=\"\" css=\".vc_custom_1534942561810{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\r\n<ul class=\"pclist-red\">\r\n 	<li>Discuss learnings from the ground and identify potential ecosystem strategies to deepen digital payments acceptance and financial inclusion</li>\r\n 	<li>Learn and offer new insights that can be used by practitioners to design meaningful value propositions for small businesses</li>\r\n 	<li>Share stream of action learnings from Catalyst’s ongoing operational activities in its <a href=\"https://cashlesscatalyst.org/digital-payment-lab/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color: #d11e3c;\"><strong>Digital Payments Lab</strong></span></a> and <a href=\"https://cashlesscatalyst.org/incubator/\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"color: #d11e3c;\"><strong>Fintech for the Last Mile incubator program, </strong></span></a>and</li>\r\n 	<li>Highlight insights based on the joint research conducted by Catalyst and People Research on India’s Consumer Economy (PRICE)</li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_custom_heading text=\"PANEL DISCUSSION\" 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=\"\" css=\".vc_custom_1534942748114{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\r\n\r\n<strong>Digitizing merchant payments in India: Opportunities and strategies to promote adoption </strong>\r\n\r\nModerator : Rama Bijapurkar, Chairperson, PRICE\r\n\r\nThe power-packed panel clearly highlighted what has been tried, what worked, what did not, and further focused on discussing the following – assessing the nature of the opportunity for solution providers and the last mile audience, challenges and insights into the problems, solutions, strategies for the future, and \'must-have\' enablers.\r\n\r\nThe discussions focused on opportunities for ecosystem players to develop innovative solutions and business models, understanding challenges in taking these strategies to the market, answering the key question for merchants (what’s in it for me?), and considerations for future actions.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/4\"][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_video link=\"https://www.youtube.com/watch?v=mDFIaHS1u1k\" align=\"center\"][vc_empty_space][/vc_column_inner][vc_column_inner width=\"1/4\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_custom_heading text=\"KEY INSIGHTS\" 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=\"\" css=\".vc_custom_1534943974768{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\r\n<ul>\r\n 	<li><strong>The inevitable role of technology breakthroughs</strong> – Taking technology to potential users to build business out of it and add value for customers and businesses</li>\r\n 	<li><strong>Credit as a hook and collections are key drivers</strong> – For adoption and acceptance of digital payment solutions among micro and small merchants across the ecosystem – suppliers, distributors and retailers</li>\r\n 	<li><strong>Digital and physical access to services and solutions</strong> - Both are important drivers in reaching out to potential users for universal inclusion</li>\r\n 	<li><strong>Challenge of building digital payments acceptance at scale in India</strong> – To get a meaningful number of users beyond aspiration i.e.to include everyone to make digital financial inclusion a reality</li>\r\n 	<li><strong>Innovation is key to building strategies to reach the last mile audience</strong> – It is vital to build deeper context on small business profiles, needs, behaviors, and perceptions before a solution or a service is introduced for its acceptance and adoption and</li>\r\n 	<li><strong>Are merchants making more money? What’s in it for merchants?</strong> – These are few questions that digital payment solution providers should be able to answer to get the micro, medium, and small merchants on board</li>\r\n</ul>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_custom_heading text=\"ALL ABOUT CONTEXT: Urban and Rural Use Cases \" 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=\"\" css=\".vc_custom_1534943984729{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\r\nWhile a confluence of government and industry initiatives have increased non-cash payments, this has been confined mostly to peer-to-peer use cases. The discussions here focused on deliberating some evidence-based approaches to digitize mass payments. This session showcased learnings from emerging business models and use cases on payments digitization and financial inclusion across urban and rural areas.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" padding_top=\"0\" padding_bottom=\"20\"][vc_column][vc_custom_heading text=\"RESOURCES\" 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=\"\" css=\".vc_custom_1534943992080{margin-top: 30px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]\r\n<p class=\"underline\"><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/F10-agenda.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Agenda</a></p>\r\nPresentations\r\n<ul class=\"pclist-red underline\">\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/digitizing_fixed_store_merchants.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Digitizing fixed store merchants</a></li>\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/digitizing_supply_chain_payments.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Digitizing supply chain payments</a></li>\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/low_income_BB_final.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Building integrated digital finance models for an urban low-income cluster</a></li>\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/remote_payment_use_case.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Digitizing small vendors with remote collections needs</a></li>\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/credit_as_a_hook.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Credit as a hook to induce digital payment adoption</a></li>\r\n</ul>\r\nInsights from Catalyst-PRICE study on\r\n<ul class=\"pclist-red underline\">\r\n 	<li><a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/08/MAPPING_THE_MERCHANTS_MIND.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Mapping the Merchant\'s Mind- An Analysis of Digital Payment Behaviors of Micro Merchants in Jaipur</a></li>\r\n</ul>\r\n[/vc_column_text][vc_column_text text_color=\"#383b3b\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"]The session further captured delegates\' brainstorm on key challenges in operationalizing digital payment business models in India, keeping the use cases discussed in the previous session as reference, and identifying potential strategies to address these barriers in building digital payments acceptance at scale.\r\n\r\nThe workshop concluded with deliberations on challenges and opportunities for ecosystem players to develop innovative and needs-based payment solutions and business models for the \'last mile\' consumers and merchant – <strong>how they interact with financial tools, what are their barriers, and what are the value propositions that induce them to transact digitally.</strong>\r\n\r\n[/vc_column_text][vc_empty_space height=\"50px\"][/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_1549447633759{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]', 'Partner Convening 10', '', 'inherit', 'closed', 'closed', '', '24681-revision-v1', '', '', '2019-02-06 10:07:20', '2019-02-06 10:07:20', '', 24681, 'https://cashlesscatalyst.org/media/24681-revision-v1/', 0, 'revision', '', 0),
(25219, 12, '2018-08-10 06:53:09', '2018-08-10 06:53:09', '', 'Opinion: What makes merchants adopt digital payments?', '', 'publish', 'closed', 'open', '', 'opinion-makes-merchants-adopt-digital-payments-2', '', '', '2018-08-13 07:36:56', '2018-08-13 07:36:56', '', 0, 'http://cashlesscatalyst.org/?p=25219', 11, 'post', '', 0),
(25222, 12, '2018-08-13 06:57:33', '2018-08-13 06:57:33', '', 'digital-payments', '', 'inherit', 'closed', 'closed', '', 'digital-payments-2', '', '', '2018-08-13 06:57:33', '2018-08-13 06:57:33', '', 25219, 'http://cashlesscatalyst.org/wp-content/uploads/2018/08/digital-payments.jpg', 0, 'attachment', 'image/jpeg', 0),
(28588, 12, '2018-10-01 08:58:27', '2018-10-01 08:58:27', '', 'limitless', '', 'inherit', 'closed', 'closed', '', 'limitless-3', '', '', '2018-10-01 09:22:20', '2018-10-01 09:22:20', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2018/10/limitless-1.jpg', 0, 'attachment', 'image/jpeg', 0),
(25227, 12, '2018-08-13 07:14:35', '2018-08-13 07:14:35', '', 'BB_Story', '', 'inherit', 'closed', 'closed', '', 'bb_story', '', '', '2018-08-13 07:14:35', '2018-08-13 07:14:35', '', 0, 'http://cashlesscatalyst.org/wp-content/uploads/2018/08/BB_Story.pdf', 0, 'attachment', 'application/pdf', 0),
(24412, 13, '2018-07-12 10:31:13', '2018-07-12 10:31:13', '', 'keypot', '', 'inherit', 'closed', 'closed', '', 'keypot-2', '', '', '2018-07-12 10:31:13', '2018-07-12 10:31:13', '', 24269, 'http://cashlesscatalyst.org/wp-content/uploads/2018/07/keypot.png', 0, 'attachment', 'image/png', 0),
(40663, 0, '2019-03-12 17:41:48', '2019-03-12 17:41:48', '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: SportGlicy (IP: 188.124.243.150, 188.124.243.150)\r\nEmail: anlvet267@gmail.com\r\nURL: https://partnerkalab.ru\r\nComment: \r\n[img]https://wildo.ru/wp-content/uploads/2016/07/--------------.jpg[/img] \r\n \r\n[b]BetAdvert[/b] - это партнёрская программа, благодаря которой вебмастера смогут зарабатывать на беттинг-трафике. \r\n \r\nBetAdvert продвигают ставки и сервис прогнозов на спорт. \r\n \r\nСегодня BetAdvert предлагает комиссионные [b]отчисления в 50%[/b] от покупок прогнозов. \r\n \r\nВы слышали??? 50% комиссионных будет падать Вам на карман только потому, что вы будете гнать трафик на их сервис любым доступным способом (разрешенным на территории РФ). \r\n \r\nКак говорится в самой партнерке, то они работают по системе «Revshare». \r\n \r\n[url=https://partnerkalab.ru/partnjorskaja-programma-betadvert/][b]Подробнее как начать зарабатывать написано здесь[/b][/url]\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12072#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12072#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12072#wpbody-content\r\nCurrently 133 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-64', '', '', '2019-03-12 17:41:48', '2019-03-12 17:41:48', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-64/', 0, 'postman_sent_mail', '', 0),
(39840, 12, '2018-12-28 13:44:30', '2018-12-28 13:44:30', '[vc_row][vc_column][vc_column_text letter_spacing=\"\"]\r\n<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\r\nAs 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.\r\n\r\nTo discuss Fintech for Inclusion of Last Mile: Experiences from the Frontline of Innovation, CATALYST presented PayNearby, PayBee, Bix42, Fingpay and Kaleidofin (5 shortlisted start-ups that participated in the first batch of CATALYST Incubator), at the Inclusive Finance India Summit 2018, in New Delhi. 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.\r\n\r\nFocusing on \'fintech for inclusion of the last mile\', the discussions highlighted the opportunities and barriers associated with addressing the needs of the underserved segment.\r\n\r\nStephen Rasmussen, Head-Inclusive Markets, CGAP moderated the livewire session.\r\n\r\nThe 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.\r\n\r\nThe 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.\r\n<p style=\"color: #d06728;\"><strong>The five shortlist start-ups</strong></p>\r\n\r\n<strong>PayNearby</strong> enables existing corner shops to become digital financial service hubs, thereby creating the world’s largest hyperlocal fintech network.\r\n\r\n<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.\r\n\r\n<strong>Merapaper</strong> provides a micro-ERP to digitize the customer lifecycle, billing, and payments for small B2C merchants.\r\n\r\n<strong>PayBee’s</strong> solution automates and digitizes B2B collections in the distributor-retailer value chain.\r\n\r\n<strong>Kaleidofin</strong> is a platform that provides tailored financial services to the mass market including populations who are un/under-banked and have significant variability in their income.\r\n\r\n[/vc_column_text][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]<iframe src=\"https://www.youtube.com/embed/oxRnEO8ncGE\" width=\"900\" height=\"500\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"></iframe>[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text letter_spacing=\"\"]<strong>Resources</strong>\r\n<ul>\r\n	<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2017/05/agenda.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Agenda</a></li>\r\n	<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2017/05/Dr-Tomar-Introduction-to-Jaipur-City-Economic-Census-Point-of-View.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">J.S. Tomar’s presentation on the 6<sup>th</sup> Economic Census of India with a focus on Jaipur city</a></li>\r\n	<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2017/05/Rajesh.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">R. Shukla’s presentation on Impact Assessment Study</a></li>\r\n	<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2017/05/Project-Catalyst_Ethno-study170417.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">S. Pandit’s presentation on Ethnographic Small Merchant Study</a></li>\r\n</ul>\r\n[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/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', '', '', '2018-12-28 13:44:30', '2018-12-28 13:44:30', '', 39512, 'https://cashlesscatalyst.org/media/39512-revision-v1/', 0, 'revision', '', 0),
(40551, 0, '2019-02-26 06:20:46', '2019-02-26 06:20:46', '\n\n\n<title>Form Fill from Catalyst Website</title>\n\n\n<p>From: sheral shah <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: sheral shah<br />\nOrganization: N/A<br />\nEmail: sheral26shah@gmail.com<br />\nPhone No.: +91 9166160160<br />\nMessage: Hi, I am Sheral Shah. I am an MSc Economics graduate from the University of Warwick. I am looking for research oriented jobs in Jaipur. Would you have such an opportunity for me?<br />\nFile: Catalyst-Resume.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-9', '', '', '2019-02-26 06:20:46', '2019-02-26 06:20:46', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/form-fill-from-catalyst-website-9/', 0, 'postman_sent_mail', '', 0),
(40556, 0, '2019-02-26 07:26:39', '2019-02-26 07:26:39', '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: Reviews (IP: 149.20.246.168, 149.20.246.168)\r\nEmail: sang.nicastro@gmail.com\r\nURL: https://bit.ly/2LLXuet\r\nComment: \r\nHeya i\'m for tthe fiгst time here. I f᧐und this board \r\nаnd I find It rｅally սseful &amp; iit helped mе outt а lot.\r\nI hope to gіve sοmething baсk and heⅼp others likе you helped mе.\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12047#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12047#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12047#wpbody-content\r\nCurrently 108 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-32', '', '', '2019-02-26 07:26:39', '2019-02-26 07:26:39', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-32/', 0, 'postman_sent_mail', '', 0),
(41112, 0, '2019-04-05 17:33:03', '2019-04-05 17:33:03', 'A new comment on the post \"Remote Payments Era: the new ‘boom’ transforming the digital payment landscape\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/remote-payments-era-new-boom-transforming-digital-payment-landscape/\r\n\r\nAuthor: article (IP: 158.222.8.116, 116.8.222.158.static.usabroadband.net)\r\nEmail: fatima.weekes@bigstring.com\r\nURL: http://screendeck.tv/nine-of-the-best-skype-call-recorder-for-windows-10/\r\nComment: \r\nThanks to the great guide\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12095#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12095#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12095#wpbody-content\r\nCurrently 156 comments are waiting for approval. Please visit the moderation panel:\r\nhttps://cashlesscatalyst.org/wp-admin/edit-comments.php?comment_status=moderated#wpbody-content\r\n', '[Catalyst] Please moderate: \"Remote Payments Era: the new ‘boom’ transforming the digital payment landscape\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-remote-payments-era-the-new-boom-transforming-the-digital-payment-landscape-2', '', '', '2019-04-05 17:33:03', '2019-04-05 17:33:03', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-remote-payments-era-the-new-boom-transforming-the-digital-payment-landscape-2/', 0, 'postman_sent_mail', '', 0),
(41114, 0, '2019-04-05 22:08:45', '2019-04-05 22:08:45', '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: Margareta (IP: 23.108.48.192, vpn00192.breakthroughflunk.com)\r\nEmail: verlenemontefiore@gmx.de\r\nURL: http://Sniptools.com/reviews/best-pdf-to-word-converters-2019/\r\nComment: \r\nI like the report\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12096#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12096#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12096#wpbody-content\r\nCurrently 157 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-2', '', '', '2019-04-05 22:08:45', '2019-04-05 22:08:45', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-bob-dylan-moneyball-and-sandboxes-whats-brewing-at-the-policy-team-at-catalyst-2/', 0, 'postman_sent_mail', '', 0),
(25641, 12, '2018-08-30 10:03:00', '2018-08-30 10:03:00', '', 'banner-2', '', 'inherit', 'closed', 'closed', '', 'banner-2-4', '', '', '2018-08-30 10:03:00', '2018-08-30 10:03:00', '', 12173, 'http://cashlesscatalyst.org/wp-content/uploads/2018/02/banner-2.jpg', 0, 'attachment', 'image/jpeg', 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
(26211, 12, '2018-09-19 12:48:03', '2018-09-19 12:48:03', '[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=\"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\r\n\" 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\" padding_top=\"0\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"Background\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text letter_spacing=\"\"]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\nIn 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_custom_heading text=\"Milk supply and payments\" 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 letter_spacing=\"\"]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_empty_space][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_single_image image=\"26459\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_empty_space][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]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. 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_custom_heading text=\"Could digital payments be the solution?\" 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 letter_spacing=\"\"]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\nIn 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_custom_heading text=\"The intervention design and handholding\" 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 letter_spacing=\"\"]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\r\n\r\nthe 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. 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_custom_heading text=\"Solution acceptability \" 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 letter_spacing=\"\"]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_empty_space][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"26217\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"26219\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"26220\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"26221\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"26222\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][vc_empty_space][vc_row_inner][vc_column_inner][vc_custom_heading text=\"Critical challenges\" 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 letter_spacing=\"\"]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. 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_custom_heading text=\"Potential solutions for retailer cash digitization\" 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 letter_spacing=\"\"]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\r\n\r\nsolution 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\nThe 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_custom_heading text=\"The next stage\" 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 letter_spacing=\"\"]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. 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_custom_heading text=\"Consumer payments: a broken link\" 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 letter_spacing=\"\"]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. 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 ‘Kaatha’. 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 padding_top=\"0px\"][vc_column][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_1549446849272{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-3', '', '', '2019-02-06 09:54:16', '2019-02-06 09:54:16', '', 0, 'https://cashlesscatalyst.org/?page_id=26211', 0, 'page', '', 0);
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(40381, 23, '2019-02-06 09:54:16', '2019-02-06 09:54:16', '[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\r\n\" 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\" padding_top=\"0\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"Background\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text letter_spacing=\"\"]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\nIn 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_custom_heading text=\"Milk supply and payments\" 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 letter_spacing=\"\"]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_empty_space][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_single_image image=\"26459\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_empty_space][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]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. 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_custom_heading text=\"Could digital payments be the solution?\" 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 letter_spacing=\"\"]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\nIn 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_custom_heading text=\"The intervention design and handholding\" 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 letter_spacing=\"\"]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\r\n\r\nthe 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. 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_custom_heading text=\"Solution acceptability \" 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 letter_spacing=\"\"]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_empty_space][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"26217\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"26219\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"26220\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"26221\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"26222\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][vc_empty_space][vc_row_inner][vc_column_inner][vc_custom_heading text=\"Critical challenges\" 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 letter_spacing=\"\"]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. 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_custom_heading text=\"Potential solutions for retailer cash digitization\" 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 letter_spacing=\"\"]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\r\n\r\nsolution 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\nThe 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_custom_heading text=\"The next stage\" 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 letter_spacing=\"\"]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. 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_custom_heading text=\"Consumer payments: a broken link\" 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 letter_spacing=\"\"]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. 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 ‘Kaatha’. 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 padding_top=\"0px\"][vc_column][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_1549446849272{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', '', '26211-revision-v1', '', '', '2019-02-06 09:54:16', '2019-02-06 09:54:16', '', 26211, 'https://cashlesscatalyst.org/media/26211-revision-v1/', 0, 'revision', '', 0),
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(41159, 0, '2019-04-09 03:40:19', '2019-04-09 03:40:19', '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: joannbx4 (IP: 185.220.101.6, 185.220.101.6)\r\nEmail: sm69@itsuki27.toptorrents.top\r\nURL: http://free.hard.porn.hotblognetwork.com\r\nComment: \r\nBrowse over 500 000 of the best porn galleries, daily updated collections\r\nhttp://safelesbiansex.instakink.com/?alexys \r\n\r\n 3gp porn torrent free porn indian vids free college porn thumbs boat porn stories free amateur wife homemade porn mpegs\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12119#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12119#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12119#wpbody-content\r\nCurrently 180 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-101', '', '', '2019-04-09 03:40:19', '2019-04-09 03:40:19', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-101/', 0, 'postman_sent_mail', '', 0);
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(41155, 0, '2019-04-09 01:03:46', '2019-04-09 01:03:46', 'A new comment on the post \"Incubator Program by Catalyst - Fintech for the last mile\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/incubator-program-by-catalyst/\r\n\r\nAuthor: Maggie (IP: 23.108.48.38, vpn0038.affordableglobe.com)\r\nEmail: abbie.forsyth@gmail.com\r\nURL: http://www.garnernews.net/blog/2019/03/best-screen-recorder-for-windows/\r\nComment: \r\nThanks to the excellent guide\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12117#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12117#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12117#wpbody-content\r\nCurrently 178 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: \"Incubator Program by Catalyst - Fintech for the last mile\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-incubator-program-by-catalyst-fintech-for-the-last-mile-3', '', '', '2019-04-09 01:03:46', '2019-04-09 01:03:46', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-incubator-program-by-catalyst-fintech-for-the-last-mile-3/', 0, 'postman_sent_mail', '', 0),
(31045, 12, '2018-10-08 10:32:57', '2018-10-08 10:32:57', '[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=\"31068\"][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 title-sub\"]\r\n<h2 style=\"text-align: center;\">WHY I TRIED DIGITAL – A DAIRY DISTRIBUTOR’S STORY</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\" 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/2018/10/why-i-tried-digital-story.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=\"0\" padding_bottom=\"0\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"31069\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1538996486445{padding-top: 17px !important;}\"][/vc_column_inner][vc_column_inner width=\"3/4\"][vc_empty_space height=\"60px\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]Sitting in his office in Jaipur, India, K.P Jain recalls how he began his dairy milk distribution business in 2002 with just two zones, which have now grown to six zones covering about 250 milk booths. Jain is the crucial link in the dairy supply chain and is in-charge of collecting the milk supply from Saras Dairy, distributing milk twice a day to all the booths and then collecting payments.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"31065\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"31057\" alignment=\"center\"][vc_custom_heading text=\"THE DAILY DRILL OF PAYMENT COLLECTION\" 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_1538994443348{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][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]He manages this extensive operation with 25 employees, eight of them are solely dedicated to collecting payments in cash. The reason, he says, is the need for time-bound collections from all the booths where the only form of payment is ‘cash’ - while the payment he makes to Saras Dairy needs to be either ‘digital’ or ‘through cheques’.\r\n\r\nThus, every day these employees head out to their 30-40 dedicated booths collecting cash, which takes them up to 3 hours to complete. On returning back to the office, they reconcile the collections and then ensure that the manual entries for each booth is made on the accounting software. Two or three employees then carry all the collections to be deposited in the bank in order to make the payment to Saras Dairy. In case of any shortfalls in collections due to late or part payments by retailers, the distributor needs to make up the difference.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"31066\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"31055\" alignment=\"center\"][vc_custom_heading text=\"CHALLENGES CONTINUE WITH CASH OR CHEQUE BASED PAYMENTS\" 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_1538994475549{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][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]When asked about challenges associated with operating in cash, Jain says, “It is a huge amount of risk for our employees to be carrying Rs. 5-8 lakhs (~ USD $6,500-10,500) on a daily basis.” In order to avoid risks, they use supply trucks, car, or in some cases, bikes for cash collection. While there have rarely been cases of theft here, in January this year one of his cash collection employees was shot at in order to steal the cash. In order to mitigate the risks of carrying cash, he did try to implement a chequebased collection system in January 2018 but it was not successful. Only a handful of retailers tried it for around 2 weeks, but they faced issues around cheques bouncing, delays in clearing and in money reflecting in their accounts, which led to problems in accounting and reconciliation.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\"][vc_column][vc_single_image image=\"31058\" alignment=\"center\"][vc_custom_heading text=\"THE HOOK TO GO DIGITAL-INSTANT PAYMENT AND SAFETY OF CASH COLLECTION TEAM\" 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_1538994687438{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" el_class=\"title-sub\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]Realizing the risks associated with cash, he agreed to pilot a UPI-based payments solution being offered by PayBee a few months ago. “Instant payments credited to my account and security of the cash collection employees are the primary reasons for piloting the solution,” he stated.He expected at least 50 booths to adopt the solution and that he would be able to save on fuel costs as well as time spent by employees, which could be spent in selling other items such as ghee (oil). However, he did not expect it to be a smooth ride. He expected challenges from retailers who might not be willing to go to banks every day to deposit money, not be comfortable using an app-based solution and/or making payments until his employees physically visit the stores.\r\n\r\nWhile he is happy with the results so far; particularly since he gets payments directly to his bank account; he feels he will start seeing greater benefits once at least 50 retailers start paying digitally. At the moment, he has about 11 retailers who pay him digitally. Retailers who started using the solution usually pay on their own without requiring any handholding. He also understands the benefits of realtime payment updates on the app itself. He says, “While my employees are more comfortable doing the reconciliation process manually, they are starting to use the app to track payments.”\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"31067\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"31056\" alignment=\"center\"][vc_custom_heading text=\"THE IDEA OF DIGITIZATION IS GOOD BUT TIMELY PAYMENTS IS AN ISSUE\" 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_1538995772949{margin-bottom: 0px !important;padding-bottom: 0px !important;}\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\"][vc_column][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]When discussing expansion of the scope of digital payments he is mindful of the challenges particularly around behaviour change of retailers, which could include getting them to make regular bank visits or getting them comfortable in using the payment application on their phones. Another challenge they face is timely payments from booth owners which would still be an issue even with digital payments. Even for on-boarding a retailer on the solution, the PayBee sales team visits the booth along with Jain’s employee in order to build trust and ensure accurate, complete and timely payments.\r\n\r\nTalking about the future, he says, “The whole idea of digitization is very good for the whole industry, if we achieve 100% conversion.”\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/2018/10/why-i-tried-digital-story.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]', 'Why I tried digital – a dairy distributor’s story', '', 'publish', 'closed', 'closed', '', 'why-i-tried-digital', '', '', '2018-11-15 09:54:56', '2018-11-15 09:54:56', '', 0, 'https://cashlesscatalyst.org/?page_id=31045', 0, 'page', '', 0),
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(40530, 0, '2019-02-19 05:06:20', '2019-02-19 05:06:20', '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-25', '', '', '2019-02-19 05:06:20', '2019-02-19 05:06:20', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-25/', 0, 'postman_sent_mail', '', 0),
(40562, 0, '2019-02-28 10:54:12', '2019-02-28 10:54:12', '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-19', '', '', '2019-02-28 10:54:12', '2019-02-28 10:54:12', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/autoptimize-cache-size-warning-httpscashlesscatalyst-org-19/', 0, 'postman_sent_mail', '', 0),
(40532, 12, '2019-02-19 06:20:08', '2019-02-19 06:20:08', '[vc_row content_placement=\"top\" padding_top=\"0\" padding_bottom=\"0\"][vc_column][vc_row_inner content_placement=\"top\"][vc_column_inner][vc_single_image image=\"39899\" img_size=\"full\" alignment=\"center\" full_width=\"yes\" animation=\"animate-when-almost-visible\" css_animation=\"left-to-right\" css=\".vc_custom_1546588717200{margin-bottom: 0px !important;padding-bottom: 10px !important;}\"][vc_custom_heading text=\"Stephen Rasmussen\" font_container=\"tag:h2|font_size:20px|text_align:center|color:%23d01f3c|line_height:26px\" 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_1546585828008{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#555555\" font_size=\"16px\" letter_spacing=\"\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\" el_class=\"lh22\" css=\".vc_custom_1546940489977{margin-top: -10px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"]<p style=\"text-align: center;\"><em> Head - Inclusive Markets</em></p>\r\n[/vc_column_text][vc_empty_space height=\"20px\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#555555\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1546608441956{margin-top: 0px !important;padding-top: 0px !important;}\"]\r\n<div class=\"pred\"><strong>1) Broadly, how do you see the India digital financial inclusion story as unique from a global standpoint? What are the hits and what are the misses? </strong></div>\r\nAccording to Global FinDex, India improved financial inclusion from 53% of adults having accounts in 2014 to 80% having accounts in 2017. That is a very impressive achievement. Much of that improvement came about because of PMJDY, which depended a lot on state-owned banks meeting Government targets. At the same time, however, the emergence of the India stack was an important factor with respect to enabling people to open accounts and making those accounts accessible digitally, and thus more useful to people. The India stack is a unique achievement, one that many other countries are interested to emulate. India also has a large and rapidly growing ecosystem of innovative fintech businesses; entrepreneurs who want to and can do new things as well as investors willing to back them.\r\n\r\nUsage of accounts is low and there are significant disparities between people: poor / better off, rural / urban, younger / older. Including marginalized people and building the system out to reach the last mile are challenges India still needs to solve.\r\n\r\n&nbsp;\r\n<div class=\"pred\"><strong>2) Much has been done in terms of concerted policy shifts and public infrastructure development to drive a digital ecosystem. But traction is still not where it should be. As an example, India has doubled the number of bank accounts but leads the world in terms of account dormancy. If there is one area where the Government should direct its efforts going forward, what is it?</strong></div>\r\nIndia has long relied on the Government doing things itself, often using state-owned banks to implement its financial inclusion goals. To take things to the next level, I think the one thing the Government can do that will make the most difference is to shift its approach in ways that enable and incentivize the private sector to advance the cause of financial inclusion. This kind of shift could manifest itself in a number of ways: regulating the payments system in a way that makes non-banks full partners and creates more space for them; passing legislation that restores the use of Aadhar to open accounts and authenticate transactions; passing data privacy legislation that protects peoples’ interests but still allows for innovation; opening up full participation in NPCI to non-banks and innovative financial service providers; and creating an open banking system such as the one Europe now has.\r\n\r\n&nbsp;\r\n<div class=\"pred\"><strong>3) Specifically, when it comes to routine, mass payment use cases, typically in informal and semi informal sectors, displacing cash with digital has been an enormous challenge. Acceptance by small, offline businesses remains woefully low. What do you think are some effective new strategies that can be employed here? Are there specific examples you can cite that have worked in other geographies?</strong></div>\r\nThis is a global challenge, not just an Indian challenge. Most countries struggle with this, and cash transactions are predominant in most countries. Among wealthier countries, Sweden has gone the furthest towards reducing the use of cash. China has also made a lot of progress, though more so in cities. The change in China came from adding digital payment capabilities to existing mass market use cases such as Alibaba’s mass market online retail business or WhatsApp’s gaming and chat environment. Like many other countries, India has done things the other way around by first building digital payments services that are now looking for use cases. There are no easy answers or magical solutions for this challenge. Financial service providers will have to chip away at it. Things that could help might include focusing more on what people want and improving their user experience; digitizing bulk payments in the Government as well as private sectors; and banks opening up their APIs to allow access for smaller service providers. And the introduction of GST has already begun to change how small businesses operate.\r\n\r\n&nbsp;\r\n<div class=\"pred\"><strong>4) The fintech sector has seen significant entrepreneurial activity initially around payments and lending, but now increasingly around wealth management and insurance. However, inclusive business models have been challenging and elusive, especially when it comes to building a base of paying, active customers. What advice would you have for entrepreneurs looking to enter this field? What should they focus on?</strong></div>\r\nIt is difficult for me to offer advice. I already see a lot of innovative entrepreneurs making things happen in India. This is a good time for entrepreneurs to get involved. And India has a growing number of angel investors and venture capital funds, local and international, that entrepreneurs can tap into. One thing entrepreneurs would do well to keep in mind is that it can take longer than they often think to make a fintech business cash flow positive. They need to be committed to staying the course and they need to have enough funding to do so. They also should think about what success might look like for them. The microfinance model where MFIs own everything from the customer to the balance sheet, and founders want to keep control of \'their\' institution, requiring them to keep on raising more and more capital, might not be the best way for all fintechs to succeed. Partnerships are important, and many fintechs may succeed by merging into a larger financial service provider.\r\n\r\n&nbsp;\r\n<div class=\"pred\"><strong>5) There has been an increase in collaboration models between fintechs active in this space and large financial service providers, especially banks. However, large institutions often still dominate these relationships, which potentially limits the scale and speed of innovation. What types of cross-industry collaboration models should India consider for greater impact? Are there specific enablers that are needed for these to emerge?</strong></div>\r\nLike everywhere else, the trend in India is towards disaggregation of financial services provision. Banks have dominated for a long time, but that is changing. Specialized business-to-customer and business-to-business fintechs are growing rapidly. Open banking has been introduced in several Western countries, requiring banks to change and open their platforms to allow fintechs to integrate and offer services. Globally, regulators are recognizing the importance of fintechs and introducing regulations to suit them. Payments infrastructure like that offered by NPCI is being opened up to allow non-banks to be shareholders and primary members, instead of having to create bank partnerships to gain access. While there is evidence that much of this is beginning to happen in India, many of the old ways that favor large banks are still in place. Change is inevitable and is taking place at an ever-accelerating pace, so embracing new ways of doing things has become a necessity.\r\n\r\n&nbsp;\r\n<div class=\"pred\"><strong>6) India still has 50% dormant bank accounts, 50% without smartphones, about 900M without access to the internet, and three quarters of the population without basic financial literacy. Given where we stand and emerging trends you see, what\'s your prognosis of digital financial inclusion landscape in India over the next 5-10 year horizon? And why?</strong></div>\r\nThe numbers look low right now. But keep in mind how much progress India has made in recent years. These same numbers make me optimistic when I consider trends over the past few years and the pace at which change is happening. I think there is a good basis to project that by 2020 account dormancy will be much lower than 50%, the percentage of people with smart phones and data plans will be much higher than 50%, and many more people will have access to the internet. India has already invested in ways that will make this happen, and it continues to invest. And I predict the regulatory environment will make progress in the direction of enabling more space for the private sector and for innovation.\r\n\r\nOf course, there is a long way to go. India is a very big country with lots of diversity and big gaps between those who are included and those who are still excluded. Specific efforts must be made to close those gaps, and even then, exclusion will not disappear entirely, at least in the short term. But I think that focusing on suitability of financial services, offering products that fit peoples’ needs and improving user experience in ways that make usage more intuitive and build trust, will lead to more meaningful financial inclusion for most people.\r\n\r\n&nbsp;\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]', 'Interview with Stephen Rasmussen, Head - Inclusive Markets', 'Interview with Stephen Rasmussen ,Head – Inclusive Markets\r\n\r\n', 'inherit', 'closed', 'closed', '', '39883-revision-v1', '', '', '2019-02-19 06:20:08', '2019-02-19 06:20:08', '', 39883, 'https://cashlesscatalyst.org/media/39883-revision-v1/', 0, 'revision', '', 0),
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tsize=\'medium\' paged=\'1\' postcount= \'10\' taxrel=\'OR\' customfield=\'news_type\' pagedvar=\'591319462be32\']\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=\"1/4\" css=\".vc_custom_1483949189835{padding-right: 5px !important;padding-left: 5px !important;}\"][vc_row_inner css=\".vc_custom_1483950246744{padding-bottom: 10px !important;}\"][vc_column_inner][vc_column_text letter_spacing=\"\"][fts_twitter twitter_name=cashlesscatalys tweets_count=5 twitter_height=400px cover_photo=no stats_bar=no show_retweets=yes show_replies=yes][/vc_column_text][/vc_column_inner][/vc_row_inner][vc_wp_custommenu nav_menu=\"42\" title=\"In this section\" el_class=\"ppress-types\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"image\" bg_color=\"#ffffff\" bg_repeat=\"repeat\" bg_attachment=\"true\" enable_parallax=\"false\" padding_top=\"30\" bg_image=\"10448\"][vc_column width=\"3/4\"][vc_row_inner equal_height=\"yes\"][vc_column_inner 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show_replies=yes][/vc_column_text][/vc_column_inner][/vc_row_inner][vc_wp_tagcloud title=\"TAGS\" el_class=\"pwidget-title\" taxonomy=\"post_tag\"][vc_custom_heading text=\"CONNECT WITH US\" use_theme_fonts=\"yes\" letter_spacing=\"\" el_class=\"pwidget-title\"][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#373a3a\"][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=\"#373a3a\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#373a3a\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#373a3a\"][/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_1549447108713{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]', 'Updates', '', 'inherit', 'closed', 'closed', '', '25732-revision-v1', '', '', '2019-02-06 09:58:32', '2019-02-06 09:58:32', '', 25732, 'https://cashlesscatalyst.org/media/25732-revision-v1/', 0, 'revision', '', 0),
(26092, 12, '2018-09-14 11:55:40', '2018-09-14 11:55:40', '', 'incubator-1', '', 'inherit', 'closed', 'closed', '', 'incubator-1', '', '', '2018-09-14 11:55:40', '2018-09-14 11:55:40', '', 25757, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/incubator-1-1.jpg', 0, 'attachment', 'image/jpeg', 0),
(25743, 12, '2018-09-06 10:30:19', '2018-09-06 10:30:19', '[vc_row padding_top=\"0\" padding_bottom=\"0\" padding_left=\"0\" padding_right=\"0\"][vc_column css=\".vc_custom_1483090259733{padding-top: 0px !important;padding-right: 0px !important;padding-bottom: 0px !important;padding-left: 0px !important;}\"][vc_row_inner css=\".vc_custom_1483090433680{padding-top: 0px !important;padding-right: 0px !important;padding-bottom: 0px !important;padding-left: 0px !important;background-color: #4e4e4e !important;}\"][vc_column_inner][vc_custom_heading text=\"DIGITAL PAYMENTS LAB\" font_container=\"tag:h2|font_size:26px|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_1536229266061{background-color: #4e4e4e !important;}\" el_class=\"ptl-title\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fdigital-payment-lab%2F|||\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner css=\".vc_custom_1483091097273{padding-top: 0px !important;padding-right: 10px !important;padding-bottom: 2% !important;padding-left: 10px !important;}\"][vc_column_text font_size=\"14px\" letter_spacing=\"\" el_class=\"ptlcontent\" css=\".vc_custom_1536244862708{padding-right: 2% !important;padding-bottom: 2% !important;padding-left: 2% !important;}\"]<p><a href=\"https://cashlesscatalyst.org/digital-payment-lab/\">Based on learnings from a systematic digitization drive in a dense local Jaipur market, Catalyst sets up multiple digitization experiments across the merchant payment ecosystem, spanning supply chain payments, direct-to-merchant propositions, newspaper vendor collections, city-wide transit payments, and integrated digital finance in an urban slum.</a></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]', 'DIGITAL PAYMENTS LAB', '', 'publish', 'closed', 'closed', '', 'digital-payments-lab', '', '', '2018-09-12 06:04:53', '2018-09-12 06:04:53', '', 0, 'https://cashlesscatalyst.org/?post_type=te_announcements&#038;p=25743', 0, 'te_announcements', '', 0),
(25778, 12, '2018-09-07 06:49:14', '2018-09-07 06:49:14', '[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=\"25790\"][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 title-sub\"]\r\n<h2 style=\"text-align: center;\">DIGITAL FINANCIAL INCLUSION OF WOMEN</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\" 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/2018/09/digital_financial_inclusion_of_women.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"25783\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1536303741149{padding-top: 17px !important;}\"][/vc_column_inner][vc_column_inner width=\"3/4\"][vc_empty_space height=\"58px\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]It is a week after Eid, and the hustle around the market in Bhatta Basti, Jaipur has calmed down. The basti, as the name suggests, is a small, low-income market, and is largely dominated with Muslim population. Two women step into Saloni Fashion, a ready-made store on the main road and quickly move out. Their choice of ‘salwaar’ (salwar) is out-of-stock. As the women depart, we engage in a conversation with Bhawgan Sayeed, the shop-owner. Sayeed is in his late thirties, and has been handling this shop with another assistant for over three years.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"25787\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"25781\" alignment=\"center\"][vc_custom_heading text=\"LOW ADOPTION OF DIGITIAL PAYMENTS AMONG FEMALE CONSUMERS IN BHATTA BASTI\" 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_1536302188356{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][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]Sayeed wants to expand his business, but is new to digital payments. He invested in a PoS machine and got trained to use it. But he has not been able to encourage any of his female customers to pay by card so far.\r\n\r\nA little surprised, we interrogate him further on what are some of the reasons for the customers’ denial to pay him through cards. The reasons that emerge, though not completely unexpected, point to a much deeper lacuna in the financial inclusion model. That is majority of women are either not active bankers or not equipped with credit or debit cards in the lower stratum of the society, and their resultant exclusion in the emerging fintech solutions.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"25789\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"25782\" alignment=\"center\"][vc_custom_heading text=\"CASH IS THE KING FOR FEMALE BUYERS AT MY SHOP\" 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_1536302308650{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][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]Sayeed says point blank, “You see I sell only women’s clothes. Women in this locality hardly carry cards. They always want to pay in cash. It is only when women are accompanied by their husbands, I can ask for card payments”. He adds that there is about 5-7 such customers that comes to his shop in a month. So although digital transaction is an exciting mode of payment, business owners like Sayeed face such practical obstacles.\r\n\r\nHe is hopeful that he will be able to attract more customer attention once he puts up stickers and billboards at his shop entrance, but is still not very sure of how many, or how often, women (his primary and regular customers) are going to use them.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\"][vc_column][vc_single_image image=\"25784\" alignment=\"center\"][vc_custom_heading text=\"WHAT CAN BE A POSSIBLE SOLUTION TO HAVE MORE WOMEN PAYING DIGITALLY? \" 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_1536302949985{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" el_class=\"title-sub\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]The field visit observations highlight presence of not only an inherent divide and gender gap in the financial inclusion model - but also about the possible scope to reduce the gap. The alternative payment model, that could potentially work better in smaller and more conservative markets where men run the household and have control over financial decisions, is Aadhar based payments (AEPS).\r\n\r\nThe bigger question is now to see whether AEPS based solutions, where one is just required to put a thumbprint, serves women any better than the existing fintech solutions in the market.\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/2018/09/digital_financial_inclusion_of_women.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]', 'Digital Financial Inclusion of Women', '', 'publish', 'closed', 'closed', '', 'digital-financial-inclusion-women', '', '', '2018-11-15 08:12:48', '2018-11-15 08:12:48', '', 0, 'https://cashlesscatalyst.org/?page_id=25778', 0, 'page', '', 0),
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INSERT INTO `in_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
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(25370, 12, '2018-08-18 08:18:46', '0000-00-00 00:00:00', '[vc_row full_height=\"yes\" equal_height=\"yes\" content_placement=\"middle\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"110\" padding_bottom=\"0\" bg_image=\"15326\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner][vc_custom_heading text=\"BOB DYLAN, MONEYBALL AND SANDBOXES\r\nWHAT’S BREWING AT THE POLICY TEAM AT CATALYST\" font_container=\"tag:h2|font_size:48px|text_align:center|color:%23ffffff|line_height:54px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"130px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\" css=\".vc_custom_1504265033147{padding-right: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265063058{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265782417{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"http://cashlesscatalyst.org/wp-content/uploads/2018/06/What-Cooking-in-our-Digital-Payments-Lab.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"30\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#0c0c0c\" font_size=\"20px\" letter_spacing=\"\"]<em>But why am I telling you all this? Because at Catalyst, continuing with our commitment to financial inclusion, we have embarked on a project that compliments the idea of regulatory sandbox. Jumping ahead of the regulatory sandbox curve if you will, we are presently documenting use-cases that remain constrained owing to regulatory, infrastructural or operational reasons. We have put together the first tranche of 7 such areas and propose to document a total of 15 scalable use-cases that are also relevant from a financial inclusion stand-point by the end of this exercise. We will disseminate the paper through a symposium and engage in concerted advocacy with the regulators along the way.\r\n\r\nI am going to walk you through the first tranche in a bit but before that, recall the scene from Moneyball when Billy Beane (Pitt) meets John Henry of the Boston Red Sox. Beane’s unorthodox approach to Baseball and reliance on statistics instead of scouts to source players had  the Oakland A’s on a 19 match unbeaten streak (that regrettably ended against Kansas in the playoffs). As John Henry told Beane:<em>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Paul Volcker, the former head of the Federal Reserve once told American financial services executives that the ATM was the peak of innovation in the financial industry. While reasonable folks may disagree with Volcker, it is certain that the pace of innovation in the financial sector space is slow, in part, as an unintended consequence of entry-barriers and maze of regulations governing the sector. In the aftermath of the great financial crisis of 2008, regulatory caution is perhaps expected. Nonetheless, the absence of innovation in the financial sector may have consequential impact in terms of inhibiting the rate of financial inclusion for the poor. (There are structural/legal reasons for according stability a “first among equals” treatment among the several regulatory goals. For example, the constituent statutes of most central banks make stability and controlling inflation as their main goals. Thus there is an Institutional bias in favor of preserving stability).\r\n\r\nIn recent years, starting with the Financial Conduct Authority (UK), regulators have attempted to intermediate the tension between innovation and stability through the construct of a regulatory sandbox.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"] Simply put, a regulatory sandbox is a “safe space” in which businesses can test innovative products, services, business models and delivery mechanisms without incurring regulatory consequences of engaging in the activity in question.\r\n\r\nA controlled environment ensures that the businesses operate without any risk of enforcement actions from the regulators. (The actionable instrument here is in the form of a “No-action letter” that issues from the regulator to the entity experimenting for the duration of the experiment). Regulators from Australia, HK, Malaysia and Singapore have followed the template laid down by FCA and set up their own sandboxes.  In fact, as a CGAP paper on the issue tells us, more than 20 countries from Abu Dhabi to Sierra Leone have adopted the concept. Closer home, an internal working group at the RBI also appears to be convinced of the potential of a sandbox to promote innovation and has recommended that it be housed at the IDRBT.  <sup>2</sup>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]But why am I telling you all this? Because at Catalyst, continuing with our commitment to financial inclusion, we have embarked on a project that compliments the idea of regulatory sandbox. Jumping ahead of the regulatory sandbox curve if you will, we are presently documenting use-cases that remain constrained owing to regulatory, infrastructural or operational reasons. We have put together the first tranche of 7 such areas and propose to document a total of 15 scalable use-cases that are also relevant from a financial inclusion stand-point by the end of this exercise. We will disseminate the paper through a symposium and engage in concerted advocacy with the regulators along the way.\r\n\r\nI am going to walk you through the first tranche in a bit but before that, recall the scene from Moneyball when Billy Beane (Pitt) meets John Henry of the Boston Red Sox. Beane’s unorthodox approach to Baseball and reliance on statistics instead of scouts to source players had  the Oakland A’s on a 19 match unbeaten streak (that regrettably ended against Kansas in the playoffs). As John Henry told Beane:\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"30\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#0c0c0c\" font_size=\"20px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]<em>“I know you’ve taken it in the teeth out there, but the first guy through the wall — he always gets bloody. Always. It’s the threat of not just the way of doing business, but in their minds, it’s threatening the game. But really what it’s threatening is their livelihoods. It’s threatening their jobs. It’s threatening the way that they do things. And every time that happens, whether it’s the government or a way of doing business or whatever it is, the people who are holding the reins — have their hands on the switch — they go batshit crazy.”</em>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Fintech start-ups are the Billy Beane of our ecosystem. They invest capital and intellectual labor in a business idea motivated to solve for apparently difficult problems that society faces. As with Baseball the incumbents and the hard-coded legal rules and processes don’t make their task any easier.\r\n\r\nIt is important therefore to create facilitative Institutional framework where they can test business cases with potentially consequential benefits for the society; like the use-case on enabling customized wealth management for the informal sector consumers that we have covered. It is common knowledge that they experience high cash-flow volatility and are often under/uninsured. Yet, we do not have a regulatory framework for offering customized portfolio management, based on their unique needs. We suggest some testable solutions.\r\n\r\nAadhaar-Pay is another use-case rich with potential given India’s poorly developed general card acquiring infrastructure. Aadhaar Pay can be used by merchants as an alternative to cost-intensive PoS infrastructure in areas where PoS penetration is poor. However, the current unit economics does not support banks to acquire merchants on Aadhaar Pay rails.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]We propose, among other things, a change in the pricing model that compensates the acquiring bank that can proliferate the Aadhaar-Pay solution.\r\n\r\nFinally, there is the emergent form of lending on a non-recourse basis; a platform matches borrower to a group of lenders discovering the coupon on the loan through bidding on the platform. At present, RBI’s regulatory framework has restricted the use-case by capping both the lender-side and borrower-side exposure.  However, there is case for experimenting the use of these platforms for micro and small business credit. Equally, there is a case for experimenting scenarios where Institutional capital invests in these businesses and not merely natural persons. Likewise, these platforms can facilitate deepening of  secondary market for loans on balance sheet of conventional originators. At present, the secondary market participants only include banks and ARCs. Testing if these platforms can buy, spread and manage that risk among their Institutional investors if successful can unlock another buyer group and move importantly, clean up the formal financial system of NPAs faster. More on this later!\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"30\" bg_image=\"7841\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#0c0c0c\" font_size=\"20px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]I will leave you all with a quote from Money Ball, (the book this time): <em>“If you challenge conventional wisdom, you will find ways to do things much better than they are currently done.”</em>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10px\" padding_bottom=\"10px\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265268713{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265795099{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"http://cashlesscatalyst.org/wp-content/uploads/2018/06/What-Cooking-in-our-Digital-Payments-Lab.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"5\" padding_bottom=\"5\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]<p>[starbox id=18]</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" disable_element=\"yes\" front_status=\"draft\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" column_gap=\"no\" padding_top=\"70px\" padding_bottom=\"50px\" margin_top=\"0px\" bg_image=\"9937\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1484826151396{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative seeded by an alliance between the Government of India &amp; USAID, to expand digital payments and financial inclusion in India, especially for small merchants and low-income consumers.</p>\r\n\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'Bob Dylan, Moneyball and Sandboxes- What’s brewing at the Policy team at Catalyst', '', 'draft', 'open', 'open', '', '', '', '', '2018-08-18 08:18:46', '2018-08-18 08:18:46', '', 0, 'http://cashlesscatalyst.org/?p=25370', 8, 'post', '', 0),
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(40574, 0, '2019-03-03 18:41:02', '2019-03-03 18:41:02', '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: 77.233.20.195, 77.233.20.195)\r\nEmail: cytrusq@mail.ru\r\nURL: https://dedicatet.com/threads/razdacha-proksi-socks5.1317/\r\nComment: \r\n[url=https://dedicatet.com/threads/besplatnye-proxy-http-socks.650/page-12]рабочие прокси бесплатно[/url]\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12052#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12052#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12052#wpbody-content\r\nCurrently 113 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-42', '', '', '2019-03-03 18:41:02', '2019-03-03 18:41:02', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-42/', 0, 'postman_sent_mail', '', 0),
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(41101, 0, '2019-04-04 01:56:57', '2019-04-04 01:56:57', 'A new comment on the post \"What’s Cooking in our Digital Payments Lab?\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/catalyst-blog/whats-cooking-digital-payments-lab/\r\n\r\nAuthor: Roseanne (IP: 171.22.122.75, 171.22.122.75)\r\nEmail: lorenzoweatherburn@gmail.com\r\nURL: https://www.constructor-machines.com/\r\nComment: \r\nThank you for the wonderful post\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12091#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12091#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12091#wpbody-content\r\nCurrently 152 comments are waiting for approval. Please visit the moderation panel:\r\nhttps://cashlesscatalyst.org/wp-admin/edit-comments.php?comment_status=moderated#wpbody-content\r\n', '[Catalyst] Please moderate: \"What’s Cooking in our Digital Payments Lab?\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-whats-cooking-in-our-digital-payments-lab', '', '', '2019-04-04 01:56:57', '2019-04-04 01:56:57', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-whats-cooking-in-our-digital-payments-lab/', 0, 'postman_sent_mail', '', 0),
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(40580, 0, '2019-03-04 23:35:48', '2019-03-04 23:35:48', '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: Justinafam (IP: 31.184.238.9, 31.184.238.9)\r\nEmail: justinaHunse@pro-expert.online\r\nURL: https://seomafia.by/uslugi/prodvijenie-saita.html\r\nComment: \r\nпродвижение сайта фирмы \r\nстоимость раскрутки сайта \r\nhttps://seomafia.by/uslugi/prodvijenie-saita.html \r\nвремя продвижения сайта \r\nкупить продвижение сайта \r\nhttps://seomafia.by/po-teme/realii-2018.html \r\nзаказать рекламу сайта \r\nпродвижение сайта по ключевым запросам \r\nhttps://seomafia.by/statji/vopros-otvet.html \r\nпродвижение сайта по словам \r\nбыстрое продвижение сайта\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12054#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12054#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12054#wpbody-content\r\nCurrently 115 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-46', '', '', '2019-03-04 23:35:48', '2019-03-04 23:35:48', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-46/', 0, 'postman_sent_mail', '', 0),
(25419, 12, '2018-08-20 13:43:59', '2018-08-20 13:43:59', '', 'MAPPING_THE_MERCHANTS_MIND', '', 'inherit', 'closed', 'closed', '', 'mapping_the_merchants_mind', '', '', '2018-08-20 13:43:59', '2018-08-20 13:43:59', '', 0, 'http://cashlesscatalyst.org/wp-content/uploads/2018/08/MAPPING_THE_MERCHANTS_MIND.pdf', 0, 'attachment', 'application/pdf', 0),
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(25433, 12, '2018-08-21 06:30:38', '2018-08-21 06:30:38', '', 'finposium-10-banner', '', 'inherit', 'closed', 'closed', '', 'finposium-10-banner-2', '', '', '2018-08-21 06:30:38', '2018-08-21 06:30:38', '', 24681, 'http://cashlesscatalyst.org/wp-content/uploads/2018/07/finposium-10-banner.jpg', 0, 'attachment', 'image/jpeg', 0),
(25435, 12, '2018-08-21 06:51:06', '2018-08-21 06:51:06', '', 'bnner', '', 'inherit', 'closed', 'closed', '', 'bnner-6', '', '', '2018-08-21 06:51:06', '2018-08-21 06:51:06', '', 25153, 'http://cashlesscatalyst.org/wp-content/uploads/2018/08/bnner-1.jpg', 0, 'attachment', 'image/jpeg', 0),
(25905, 12, '2018-09-11 12:02:06', '2018-09-11 12:02:06', '[vc_row content_placement=\"top\" padding_top=\"0\" padding_bottom=\"0\"][vc_column][vc_row_inner content_placement=\"top\"][vc_column_inner][vc_single_image image=\"25907\" img_size=\"full\" alignment=\"center\" full_width=\"yes\" animation=\"animate-when-almost-visible\" css_animation=\"left-to-right\" css=\".vc_custom_1536667472506{margin-bottom: 0px !important;padding-bottom: 10px !important;}\"][vc_custom_heading text=\"Mr. Gaurav Raina\" font_container=\"tag:h2|font_size:20px|text_align:center|color:%23d01f3c|line_height:26px\" 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_1536667483548{margin-top: 0px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"][vc_column_text text_color=\"#555555\" font_size=\"16px\" letter_spacing=\"\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\" el_class=\"lh22\" css=\".vc_custom_1536781661576{margin-top: -10px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\"><em>Associate Professor, Indian Institute of Technology - Madras</em></p>\r\n\r\n[/vc_column_text][vc_empty_space height=\"20px\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#555555\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22\" css=\".vc_custom_1536827576406{margin-top: 0px !important;padding-top: 0px !important;}\"]<div class=\"pred\"><strong>UPI #2 just released. Do you think new <div style=\"display:none\"><a href=\"http://tadalafil-20mg.de/sildenafil/kaufen-kamagra-100-effervescent-in-deutschland-online.html\">Kaufen Kamagra-100 Effervescent In Deutschland Online</a></div> functionalities like OD account and one-time mandate will increase usage on the C2M loop? UPI has clocked impressive numbers in the P2P segments but the C2M numbers are estimated to be muted.  </strong></div>\r\n<p>UPI 2.0 is certainly expected to help increase usage. It has recently been launched, so we will have to give it some time before we can see an increase in transactions. We do observe that the P2P segment continues to do well; however, the merchant numbers could certainly be better. To boost the payments ecosystem, perhaps the strategy should be to try and get 100m monthly users on UPI as quickly as we can. One will then witness significant network effects on the P2P side, and there will exist a sizeable number of users to boost uptake on the merchant side. There is a reasonable chance that we could reach 100m customers on UPI before 1st January </p><div style=\"display:none\"><a href=\"http://ayuda-chico.com/sildenafil---duloxetine/comprar-malegra-dxt-en-espana.html\">Comprar Malegra-DXT en Espana</a></div> 2020.<br><br>\r\n&nbsp;<p></p>\r\n<div class=\"pred\"><strong>Speaking of mobile wallets, do wallets have any stand-alone use cases? Second, the RBI is going to release interoperability guidelines for mobile wallets soon. That will increase the optionality and utility of wallet-money. But what impact will this have on UPI, given that UPIï¿½s appeal was partly based on seamless transfer of funds between different bank accounts?          </strong></div>\r\n<p>Mobile wallet companies have done an excellent job of educating customers on m-payments. However, interoperability is key. One will have to wait and see what guidelines for interoperability are proposed by the RBI, before one can comment further on the impact on UPI. In general, the greater the interoperability in the payments ecosystem, the better it is for innovation, and eventually for consumers.<br><br>\r\n&nbsp;</p>\r\n<div class=\"pred\"><strong>What is your view on the potential for USSD as a transmission channel for payments and payments+? The focus on UPI appears to have taken away from USSD, yet India will take some time to proliferate a data-dense ecosystem. Your comments.   </strong></div>\r\n<p>In the early days, everyone thought that USSD was going to be the transmission channel that will take m-payments to large sections of society. In fact, the Mobile Payment Forum of India (MPFI), along with NPCI, had spent a lot of effort in developing a payment solution over USSD. From a user perspective, there could be many reasons why it did not gain popularity. First, it requires a certain level of literacy, which means comfort in reading all the menu options to entering all the information required for the transaction. Second, in terms of usability, users have to fill in all the details associated with any transaction every time. It might be an idea to promote USSD initially only for basic financial transactions like balance enquiries and mini-statements.<br><br>\r\n&nbsp;</p>\r\n<div class=\"pred\"><strong>Letï¿½s talk about feature phones; India still has a healthy appetite for feature phones - according to some estimates, feature phones grew @ 55% in the 4th Quarter of 2017. Are we developing payments applications and other contingencies for that ecosystem at a fast enough pace?         </strong></div>\r\n<p>When one considers a feature phone, the transmission channels for financial transactions are SMS or USSD. To use either of these channels, </p><div style=\"display:none\"><a href=\"http://lean-muscles-wiki.biz/muscles-blog/how-to-relieve-stress-restore-and-strengthen-the.html\" title=\"How to relieve stress\">How to relieve stress</a></div> the <div style=\"display:none\"><a href=\"http://blog-cutting.com/cutting/how-to-pump-up-the-muscles-of-the-lateral-press-at.html\" title=\"How to pump up the muscles of the lateral press at home\">How to pump up the muscles of the lateral press at home</a></div> users needs a certain base level of literacy. We also need to consider the issuer of usability. All the details required for a financial transaction have to be entered by the user every time. This is cumbersome. Just because consumers are comfortable using a mobile phone for communication, itï¿½s not clear that they would be comfortable using it to conduct financial transactions. One suggestion is that on a feature phone, at least initially, one should have only simple options for basic financial enquiries like a balance enquiry or a mini statement. This will get consumers used to the idea of using the mobile phone as a device to access financial information. To enhance usability, there should be standards for message formats that all banks should follow when their customers request for a balance enquiry, or a mini statement, via SMS or USSD. These standards can be used across all types of mobile phones.<br><br>\r\n&nbsp;<p></p>\r\n<div class=\"pred\"><strong>Being an academic, how do you assess the payments ecosystem on the data-richness metric? The NPCI for instance only releases aggregate volume/value numbers that do not inform policy discourse. It is trite that disaggregated data would be more valuable across the Payments ecosystem. How do we get there?         </strong></div>\r\n<p>On data, there are two issues. One aspect is the data related to the user, and the other is data about the payments ecosystem.<br><br>\r\nOn data related to the user, the opportunity is to utilise this data to start offering customised solutions. Financial institutions will do well to harness the full potential of data science and artificial intelligence to usher in an era of customized financial solutions and services to Indian consumers.<br><br>\r\nThere is the other issue of data that can help inform policy discourse. One way to proceed is the following: we first ask specific policy questions, and then work backwards on what data is required, and who one should get it from.<br><br>\r\n&nbsp;</p>\r\n<div class=\"pred\"><strong>With proliferation of m-payments security and authentication becomes important. How close are we to taking ï¿½organicï¿½ authentication vectors like voice commercial scale? Is MPFI working with any startups on this front?       </strong></div>\r\n<p>We constantly need to be innovating on both security and authentication.</p>\r\n<p>For security, the judicious use of data science and machine learning can complement current solutions.</p>\r\n<p>For authentication, we also need to cater for users who might find it difficult to use current modes of authentication to carry out a financial transaction. For example, people who are not literate, or those that are differently abled, or the elderly who may not be very comfortable with certain modes of technology. Examples of options are voice-based solutions, face-recognition, iris, and fingerprints. There are two aspects to these additional solutions: (i) the maturity of the underlying technologies for financial transactions, and (ii) the development of standards before they are used to conduct financial transactions.</p>\r\n<p>As a first step, it would be great to see voice-based solutions being used to enter the transaction details, and then the user only needs to type in the MPIN (Mobile PIN).</p>\r\n<p>&nbsp;</p>\r\n<div class=\"pred\"><strong>What are your thoughts on the evolution of mobile-based payments and financial transactions in India over the next 1-2 years?    </strong></div>\r\n<p>We need to constantly think of increasing the user base, innovating on authentication and security, and enhancing usability while being cognizant of privacy.  In India, we have developed a range of solutions for mobile-based financial transactions and payments. Kudos to the entire ecosystem, but we need m-payment solutions to be adopted more widely. To that end, among all the available m-payment options, if some solution is gaining traction, we should push it to build a critical mass of users.  For example, the P2P segment on UPI is gaining momentum. Once we have a critical mass of say 100m monthly active users on UPI, it will create tremendous network effects on the P2P segment, and possibly also impact uptake on with merchants. <br><br><br>\r\nFor users with feature phones, we should promote simple standardized solutions for transactions requesting for bank balance or a mini-statement, via SMS or USSD. This will help in getting a large segment of users comfortable with using the mobile phone as an instrument to conduct financial transactions.</p>\r\n<p>&nbsp;</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]', 'Interview with Mr. Gaurav Raina, Associate Professor, Indian Institute of Technology - Madras', 'CATALYST recently caught up with Gaurav Raina, Associate Professor, IIT- Madras to discuss the evolution of mobile-based payments and financial transactions in India. He further comments on the launch of  UPI 2.0.', 'publish', 'closed', 'open', '', 'interview-with-gaurav-raina', '', '', '2019-01-04 07:21:40', '2019-01-04 07:21:40', '', 0, 'https://cashlesscatalyst.org/?p=25905', 1, 'post', '', 0),
(25450, 12, '2018-08-21 12:42:01', '2018-08-21 12:42:01', '', 'banner-new', '', 'inherit', 'closed', 'closed', '', 'banner-new', '', '', '2018-08-23 11:15:58', '2018-08-23 11:15:58', '', 25153, 'http://cashlesscatalyst.org/wp-content/uploads/2018/08/banner-new.jpg', 0, 'attachment', 'image/jpeg', 0),
(25451, 12, '2018-08-21 12:42:28', '2018-08-21 12:42:28', '', 'banner-new', '', 'inherit', 'closed', 'closed', '', 'banner-new-2', '', '', '2018-08-21 12:42:28', '2018-08-21 12:42:28', '', 25153, 'http://cashlesscatalyst.org/wp-content/uploads/2018/08/banner-new-1.jpg', 0, 'attachment', 'image/jpeg', 0),
(25479, 12, '2018-08-22 12:29:32', '2018-08-22 12:29:32', '[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=\"25531\"][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 title-sub\"]\r\n<h2 style=\"text-align: center;\">OPPORTUNITY AND GROWTH FOR SMALL MERCHANTS WITH eMITRAS</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\" 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/merchants-with-eMitras.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner width=\"1/4\"][vc_single_image image=\"25533\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1535027019777{padding-top: 17px !important;}\"][/vc_column_inner][vc_column_inner width=\"3/4\"][vc_empty_space height=\"58px\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]Sporting white long hair, Rajesh Jain, has seen many ups and downs in his life, and is now an eMitra merchant in Jaipur with a beeline of customers at his provisions shop. The shop now functions primarily as an outlet for extending government services, ranging from utility bill payments to university fee payments.\r\n\r\n“I used to be a large-scale trader with stakes in wholesale and distribution but things started to go wrong and we suffered a massive loss in business. Then I started a small shop to get back my financial stability, but what has transformed things for me is taking on the eMitra work,” Jain said, taking breaks between a steady stream of customers as it middle of the month when most of them pay the utility bills.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"25529\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"25654\" alignment=\"center\"][vc_custom_heading text=\"DIGITAL PAYMENTS BROUGHT MY BUSINESS BACK TO LIFE\" 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_1535645634414{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][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]His youngest son supports him on the days that see a rush of customers. Like most small shops, Jain’s shop, is an extension of the house and is the main source of livelihood for the family of five.\r\n\r\n“I started offering eMitra services around five years back primarily due to public demand and lack of e-Mitras nearby and have been blessed with a good footfall since I started. Digitization in the country has created a big shift, but it will take time for customers to become confident about using digital payments on a daily basis,” Jain added.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\"][vc_column][vc_single_image image=\"25655\" alignment=\"center\"][vc_custom_heading text=\"eMITRAS - THE CHANGE AGENTS\" 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_1535645757210{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" el_class=\"title-sub\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\"]“The customers that come for the e-Mitras related services are mostly old and retired folks and are more comfortable with cash, which is the most prevalent form of payments with this group.” Their knowledge about digital payments is generally not very extensive and paying digitally usually invokes a sense of hesitation and fear of fraud. Some even worry and make errors while writing cheques for these payments.\r\n\r\n“However, we are working with customers explaining to them about ways and advantages of making digital payments. While the card usage here has been on the rise but the overall percentage of digital payments is still too low,” Jain explains the current trend.\r\n\r\nA number of customers came in to specifically ask about the process of getting the Aadhaar card. Jain patiently explained that eMitras no longer provide that service. These interactions highlight the critical role a human interface plays in both literacy and facilitation. Jain sees himself as a change agent.\r\n\r\n“Cash handling is a challenge and entails risks, in addition to frequent visits to banks for depositing it. If people shift to digital payments it will be good for us in many ways,” he added.\r\n\r\nIn terms of what is needed to nudge the customers, he said: “Literacy and awareness on regular basis are important in addition to building trust in digital payments.”\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"100\" padding_bottom=\"100\" el_class=\"uppercase\" bg_image=\"25530\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"25656\" alignment=\"center\"][vc_custom_heading text=\"CATALYST’S ENGAGEMENT WITH eMITRA MERCHANTS\" 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_1535645924269{margin-bottom: 0px !important;padding-bottom: 0px !important;}\" el_class=\"title-sub\"][/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=\"\"]Catalyst engaged with select e-Mitra merchants during the pilot carried out over 10 months to promote card payments at these centers. As part of the pilot these e-Mitras were provided the Point of Sale machines with the help of Government of Rajasthan. All charges associated with the adoption and usage of the solution were waived off for the project period for these e-Mitras to understand its uptake.\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=\"\"]Additionally, a range of promotional information materials were prepared and placed at these eMitra shops for awareness generation among consumers to advance acceptance and adoption of digital payments.\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/2018/08/merchants-with-eMitras.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]', 'Opportunity and growth for small merchants with eMitras', '', 'publish', 'closed', 'closed', '', 'opportunity-growth-small-merchants-emitras', '', '', '2018-11-15 08:11:17', '2018-11-15 08:11:17', '', 0, 'http://cashlesscatalyst.org/?page_id=25479', 0, 'page', '', 0),
(41174, 0, '2019-04-10 06:35:56', '2019-04-10 06:35:56', '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: AvtoPoife (IP: 109.184.166.84, 109-184-166-84.dynamic.mts-nn.ru)\r\nEmail: razgonovmiroslav19882266@mail.ru\r\nURL: http://sbk-torg.ru\r\nComment: \r\nИнтернет-магазин sbk-torg.ru предлагает купить автомобильные масела, антифроз, тосол, присодки, фильтры, автокосметику, автофильтры, незамерзайку. В наличии на складе в Нижнем Новгороде \r\n \r\n \r\nhttp://sbk-torg.ru/Avtomobilnye-masla/Originalnye.html - масло mitsubishi engine oil 5w30\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12125#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12125#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12125#wpbody-content\r\nCurrently 186 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-107', '', '', '2019-04-10 06:35:56', '2019-04-10 06:35:56', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-107/', 0, 'postman_sent_mail', '', 0),
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(25535, 12, '2018-08-23 13:03:21', '2018-08-23 13:03:21', '', 'moneyball-1', '', 'inherit', 'closed', 'closed', '', 'moneyball-1', '', '', '2018-08-23 13:15:28', '2018-08-23 13:15:28', '', 0, 'http://cashlesscatalyst.org/wp-content/uploads/2018/08/moneyball-1.jpg', 0, 'attachment', 'image/jpeg', 0),
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(32253, 12, '2018-10-11 20:20:46', '2018-10-11 20:20:46', '', 'mapping', '', 'inherit', 'closed', 'closed', '', 'mapping', '', '', '2018-10-11 20:21:34', '2018-10-11 20:21:34', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2018/10/mapping.jpg', 0, 'attachment', 'image/jpeg', 0),
(40565, 0, '2019-03-01 10:54:02', '2019-03-01 10:54:02', '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-20', '', '', '2019-03-01 10:54:02', '2019-03-01 10:54:02', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/autoptimize-cache-size-warning-httpscashlesscatalyst-org-20/', 0, 'postman_sent_mail', '', 0),
(41084, 0, '2019-04-02 04:30:53', '2019-04-02 04:30:53', '\n\n\n<title>Form Fill from Catalyst Website</title>\n\n\n<p>From: Atrayee Das Chaudhuri <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: Atrayee Das Chaudhuri<br />\nOrganization: Archipel &amp; Co<br />\nEmail: atrayee.das-chaudhurii@azao-conseil.com<br />\nPhone No.: 9908357568<br />\nMessage: Hi Catalyst team,</p>\n<p>My name is Atrayee and I work for a French Consulting firm. We are currently doing a study to understand start-ups in India and other developing countries.</p>\n<p>We are inspired by Catalyst&#039;s journey and would like to discuss more to present you as a case study to several international clients.</p>\n<p>Please connect to discuss more.</p>\n<p>Best Regards,<br />\nAtrayee</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-28', '', '', '2019-04-02 04:30:53', '2019-04-02 04:30:53', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/form-fill-from-catalyst-website-28/', 0, 'postman_sent_mail', '', 0),
(39359, 20, '2018-11-16 12:08:17', '2018-11-16 12:08:17', '', 'Developing-Business-Models', '', 'inherit', 'closed', 'closed', '', 'developing-business-models', '', '', '2018-11-16 12:08:17', '2018-11-16 12:08:17', '', 39336, 'https://cashlesscatalyst.org/wp-content/uploads/2018/11/Developing-Business-Models.jpg', 0, 'attachment', 'image/jpeg', 0),
(39370, 20, '2018-11-16 13:24:13', '2018-11-16 13:24:13', '[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=\"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_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 for 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 considerations of 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 context. 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 Jaipur locals to learn more about digital payments. To develop our initiatives,\r\n\r\nIn recent times, the success of business models is based on creating flexible value webs as opposed to static value chains. This means that the roles and responsibilities of the players in the business model are not necessarily linear, rigid and well defined initially, 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=\"39359\" 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=\"39346\" img_size=\"full\"][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/2018/06/What-Cooking-in-our-Digital-Payments-Lab.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"5\" padding_bottom=\"5\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"][starbox id=21][/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', '', 'inherit', 'closed', 'closed', '', '39336-revision-v1', '', '', '2018-11-16 13:24:13', '2018-11-16 13:24:13', '', 39336, 'https://cashlesscatalyst.org/media/39336-revision-v1/', 0, 'revision', '', 0);
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(39360, 20, '2018-11-16 12:08:53', '2018-11-16 12:08:53', '[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=\"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_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 for 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 considerations of 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\nIn recent times, the success of business models is based on creating flexible value webs as opposed to static value chains. This means that the roles and responsibilities of the players in the business model are not necessarily linear, rigid and well defined initially, but evolve during the course of the engagement. [/vc_column_text][/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\"]CATALYST, as a multi-stakeholder initiative, followed an ecosystem approach to identify and operationalize business models relevant to the Jaipur market context. 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 Jaipur locals to learn more about digital payments. To develop our initiatives,[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]we 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=\"39359\" 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 width=\"1/3\"][vc_single_image image=\"39346\" img_size=\"full\"][/vc_column_inner][vc_column_inner width=\"2/3\"][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/2018/06/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 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', '', 'inherit', 'closed', 'closed', '', '39336-revision-v1', '', '', '2018-11-16 12:08:53', '2018-11-16 12:08:53', '', 39336, 'https://cashlesscatalyst.org/media/39336-revision-v1/', 0, 'revision', '', 0),
(32252, 12, '2018-10-11 20:20:28', '2018-10-11 20:20:28', '', 'limitless', '', 'inherit', 'closed', 'closed', '', 'limitless-4', '', '', '2018-10-11 20:21:20', '2018-10-11 20:21:20', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2018/10/limitless-2.jpg', 0, 'attachment', 'image/jpeg', 0),
(40546, 0, '2019-02-23 19:09:16', '2019-02-23 19:09:16', '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: CecilDob (IP: 90.188.255.142, 90.188.255.142)\r\nEmail: aristarhyudin95@mail.ru\r\nURL: \r\nComment: \r\nЖелезнодорожные перевозки. Анналы возникновения и развития \r\nНыне грузовые железнодорожные перевозки представляют собой симбиоз инженерных достижений в области средств передвижения и оптимального процесса управления продвижением товаров и услуг через поставщиков к потребителям. Железнодорожные превозки. ТК БИРТРАНСЖелезнодорожные перевозки грузов по-прежнему считаются самым быстрым, удобным и наименее затратным способом доставки различных грузов – от тяжелой строительной техники до скоро портящихся продуктов питания.Объясняется это в первую очередь тем, что железнодорожные перевозки находятся вне конкуренции, если филиппика соглашаться о транспортировке тяжелых и негабаритных грузов: строительной техники (кранов, экскаваторов, самосвалов), крупногабаритных технических изделий (предположим, опор ЛЭП, железобетонных плит, перекрытий и т.п.). Железнодорожные превозки. ТК БИРТРАНС Присутствие этом размеры данных грузов ограничены чуть размерами самого подвижного состава, который будет исполнять железнодорожную перевозку. Более того - современная строительная техника целенаправленно проектируется именно с расчетом для то, сколько ее доставка довольно осуществляться железнодорожным транспортом. \r\nДля всем протяжении цивилизации личность издревле задумывался, чем ему перетащить или перевезти тяжеловесный, крупногабаритный, да и весь всякий багаж, кто он лично не в состоянии перенести. Так были изобретены простые транспортные средства, ровно сани, повозка, плот, лодка. Если усилие человека в качестве тяговой силы уже было не достаточно, люди стали пользоваться животных: волов, верблюдов и, очевидно же, лошадей. \r\nСнова в Древней Греции существовала необходимость перевозки тяжеловесного и негабаритного груза. Ради сокращения водного пути из Саронического залива в Коринфский существовал каменный способ, называемый Диолком с глубокими желобами в качестве направляющих и который служил чтобы перемещения волоком тяжелых кораблей. \r\n \r\n[url=http://sounds-park.com/index.php?p=/discussion/112529/perevozka-gruzov-zheleznodorozhnym-transportom?new=1]правила железнодорожных перевозок	[/url]\r\n[url=http://www.so0912.com/home.php?mod=space&amp;uid=144466]железнодорожные перевозки вагонами	[/url]\r\n[url=https://vw88vn.com/forum/profile.php?section=personality&amp;id=76501]правила железнодорожных перевозок	[/url]\r\n[url=http://www.supratraderonline.com/author/porchnfear28/]правила железнодорожных перевозок грузов	[/url]\r\n[url=http://wafironline.com/author/malikmoore28/]перевозки железнодорожным транспортом	[/url]\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12046#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12046#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12046#wpbody-content\r\nCurrently 107 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-30', '', '', '2019-02-23 19:09:16', '2019-02-23 19:09:16', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-30/', 0, 'postman_sent_mail', '', 0),
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(39519, 12, '2018-12-04 12:32:24', '2018-12-04 12:32:24', '[vc_row][vc_column][vc_column_text letter_spacing=\"\"]<p style=\"color: #d06728;\">Innovative Digital Payment Business Models for Small Merchants and Low-income Households</p>\r\n<p style=\"color: #d06728;\"><strong>Date:</strong>12 December 2018</p>\r\n<p style=\"color: #d06728;\"><strong>Location:</strong>Hotel Ashok, New Delhi</p>\r\n<p style=\"color: #d06728;\"><strong>A closed-door session on \'Innovative Digital Payment Business Models for Small Merchants and Low-income Households\' is being held as a break-out session at the Inclusive Finance India Summit 2018, at Hotel Ashok, New Delhi, on 12 December, at 12:30pm.</strong></p>\r\n<p style=\"color: #d06728;\"><strong>About the session</strong></p>\r\n<p>While digital finance has increased significantly in India in recent years, there exist significant gaps in reaching out to the last mile. Micro-merchants and low-income households, in particular, remain an under-served segment in digital finance. CATALYST has facilitated a set of experiments that provide insights for solution frameworks and business models by implementing a learning-by-doing approach.</p>\r\n<p>This session will present major insights from four types of business models that have emerged:</p>\r\n<ul>\r\n<li>Distributors and their merchant networks in dairy, pharmaceutical, and FMCG supply chains</li>\r\n<li>Low-income households in urban slums,</li>\r\n<li>Payment collections for subscription-based services, and</li>\r\n<li>Fixed store kirana merchants</li>\r\n</ul>\r\n<p>The session will be highly interactive and will bring together practitioners, policy influencers, and financial service providers to brainstorm on ideas on how to responsibly transition small business ecosystems (i.e. merchants, low income customers, suppliers) to a digital payment platform, while building on CATALYST insights.</p>\r\n<p style=\"color: #d06728;\">The  session will be facilitated by Ayush Chauhan (Design Strategy and Innovation Specialist) and Jayshree Venkatesan (Financial Sector Specialist).</p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Discussion at IFI Summit 2018', '', 'inherit', 'closed', 'closed', '', '39515-revision-v1', '', '', '2018-12-04 12:32:24', '2018-12-04 12:32:24', '', 39515, 'https://cashlesscatalyst.org/media/39515-revision-v1/', 0, 'revision', '', 0),
(39520, 12, '2018-12-28 13:47:06', '2018-12-28 13:47:06', '[vc_row][vc_column][vc_column_text letter_spacing=\"\"]\n<p style=\"color: #d06728;\">Fintech for Inclusion of the Last Mile: Experiences from the frontline of innovation</p>\n<p style=\"color: #d06728;\"><strong>Date:</strong> December 11, 2018</p>\n<p style=\"color: #d06728;\"><strong>Time:</strong> 2 pm to 3:30 pm</p>\n<p style=\"color: #d06728;\"><strong>Location:</strong> Hotel Ashok, New delhi</p>\n\nAs 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.\n\nTo discuss Fintech for Inclusion of Last Mile: Experiences from the Frontline of Innovation, CATALYST presented PayNearby, PayBee, Bix42, Fingpay and Kaleidofin (5 shortlisted start-ups that participated in the first batch of CATALYST Incubator), at the Inclusive Finance India Summit 2018, in New Delhi. 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.\n\nFocusing on \'fintech for inclusion of the last mile\', the discussions highlighted the opportunities and barriers associated with addressing the needs of the underserved segment.\n\nStephen Rasmussen, Head-Inclusive Markets, CGAP moderated the livewire session.\n\nThe 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.\n\nThe 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.\n<p style=\"color: #d06728;\"><strong>The five shortlist start-ups</strong></p>\n\n<strong>PayNearby</strong> enables existing corner shops to become digital financial service hubs, thereby creating the world’s largest hyperlocal fintech network.\n\n<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.\n\n<strong>Merapaper</strong> provides a micro-ERP to digitize the customer lifecycle, billing, and payments for small B2C merchants.\n\n<strong>PayBee’s</strong> solution automates and digitizes B2B collections in the distributor-retailer value chain.\n\n<strong>Kaleidofin</strong> is a platform that provides tailored financial services to the mass market including populations who are un/under-banked and have significant variability in their income.\n\n[/vc_column_text][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]<iframe src=\"https://www.youtube.com/embed/oxRnEO8ncGE\" width=\"900\" height=\"500\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"></iframe>[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text letter_spacing=\"\"]<p><strong>Resources</strong></p>\n<ul>\n<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2017/05/agenda.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Bix42</a></li>\n\n<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2017/05/Rajesh.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Pay Nearby</a></li>\n<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2017/05/Project-Catalyst_Ethno-study170417.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Fingpay</a></li>\n<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2017/05/Project-Catalyst_Ethno-study170417.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Kaleidofin</a></li>\n</ul>\n[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row]', 'Technical Session at Inclusive Finance India Summit 2018', 'Technical Session at Inclusive Finance India Summit 2018</br>\nDate: December 11, 2018</br>\nTime: 2 pm to 3:30 pm', 'inherit', 'closed', 'closed', '', '39512-autosave-v1', '', '', '2018-12-28 13:47:06', '2018-12-28 13:47:06', '', 39512, 'https://cashlesscatalyst.org/media/39512-autosave-v1/', 0, 'revision', '', 0),
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(41169, 0, '2019-04-09 17:34:28', '2019-04-09 17:34:28', 'A new comment on the post \"Broader Updates\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/broader-updates/\r\n\r\nAuthor: this Post (IP: 209.99.174.36, 209.99.174.36)\r\nEmail: claritahinds@aol.com\r\nURL: http://www.aboardcertifiedplasticsurgeonresource.com/techs/2019/03/the-best-pdf-converters-for-professional-use-offline-free-download/\r\nComment: \r\nThis is actually helpful, thanks.\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12124#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12124#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12124#wpbody-content\r\nCurrently 185 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: \"Broader Updates\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-broader-updates-7', '', '', '2019-04-09 17:34:28', '2019-04-09 17:34:28', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-broader-updates-7/', 0, 'postman_sent_mail', '', 0),
(41170, 0, '2019-04-09 17:34:28', '2019-04-09 17:34:28', 'A new comment on the post \"Broader Updates\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/broader-updates/\r\n\r\nAuthor: this Post (IP: 209.99.174.36, 209.99.174.36)\r\nEmail: claritahinds@aol.com\r\nURL: http://www.aboardcertifiedplasticsurgeonresource.com/techs/2019/03/the-best-pdf-converters-for-professional-use-offline-free-download/\r\nComment: \r\nThis is actually helpful, thanks.\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12124#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12124#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12124#wpbody-content\r\nCurrently 185 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: \"Broader Updates\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-broader-updates-8', '', '', '2019-04-09 17:34:28', '2019-04-09 17:34:28', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-broader-updates-8/', 0, 'postman_sent_mail', '', 0),
(41173, 0, '2019-04-10 06:35:55', '2019-04-10 06:35:55', '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: AvtoPoife (IP: 109.184.166.84, 109-184-166-84.dynamic.mts-nn.ru)\r\nEmail: razgonovmiroslav19882266@mail.ru\r\nURL: http://sbk-torg.ru\r\nComment: \r\nИнтернет-магазин sbk-torg.ru предлагает купить автомобильные масела, антифроз, тосол, присодки, фильтры, автокосметику, автофильтры, незамерзайку. В наличии на складе в Нижнем Новгороде \r\n \r\n \r\nhttp://sbk-torg.ru/Avtomobilnye-masla/Originalnye.html - масло mitsubishi engine oil 5w30\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12125#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12125#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12125#wpbody-content\r\nCurrently 186 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-106', '', '', '2019-04-10 06:35:55', '2019-04-10 06:35:55', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-106/', 0, 'postman_sent_mail', '', 0),
(41175, 0, '2019-04-10 08:18:04', '2019-04-10 08:18:04', 'A new comment on the post \"Incubator Program by Catalyst - Fintech for the last mile\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/incubator-program-by-catalyst/\r\n\r\nAuthor: Franchesca (IP: 23.231.39.172, 23.231.39.172)\r\nEmail: whitneylaseron@bigstring.com\r\nURL: http://www.msmobilenews.com/others/12-best-pdf-to-word-converters/\r\nComment: \r\nThis is actually helpful, thanks.\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12126#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12126#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12126#wpbody-content\r\nCurrently 187 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: \"Incubator Program by Catalyst - Fintech for the last mile\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-incubator-program-by-catalyst-fintech-for-the-last-mile-5', '', '', '2019-04-10 08:18:04', '2019-04-10 08:18:04', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-incubator-program-by-catalyst-fintech-for-the-last-mile-5/', 0, 'postman_sent_mail', '', 0);
