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(40127, 23, '2019-01-18 05:59:49', '2019-01-18 05:59:49', '[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=\"40276\"][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=\"USING BEHAVIORAL INSIGHTS TO IMPROVE DIGITAL FINANCIAL CAPABILITY (DFC) OF CUSTOMERS: KEY LEARNINGS FROM OUR EXPERIMENTS ACROSS DIFFERENT ECOSYSTEMS\" 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_custom_heading text=\"About CATALYST\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]CATALYST is a user-centric ‘digital financial inclusion innovation platform’ for the underserved last mile. The initiative is funded by the United States Agency for International Development (USAID) under the mSTAR Program, through funding provided to FHI 360. Housed within the Institute for Financial Management and Research, Leveraging Evidence for Access and Development (IFMR LEAD), the initiative aims to expand digital payments and financial inclusion in India.CATALYST identifies, develops and validates solution frameworks and business models in collaboration with facilitating government agencies and participating industry solution providers to responsibly transition small business ecosystems (i.e., merchants, consumers, suppliers) from an inefficient cash economy to digital payment platforms, and further onto broader digital finance solutions. CATALYST has also launched a new business incubator, ‘Fintech for the Last Mile,’ to promote entrepreneurs focused on developing innovative digital finance solutions for traditionally underserved segments.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_custom_heading text=\"Acknowledgements\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The authors thank and acknowledge the support of Arbind Vishwakarma, Deepti KC, Tunisha Kapoor and John Arun for the insights from their respective projects. Thanks also to Harsh Pandey (FHI 360), Jayshree Venkatesan, Ankur Gautam and Preethi Rao for editorial reviews and feedback, and to Badal Malick and Sharon Buteau for their consistent support and encouragement.\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=\"EXECUTIVE SUMMARY\" 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\"]Evidence suggests that the use of digital financial services can offer benefits such as increased financial transparency, accountability and inclusion. ¹For customers to adopt these solutions, however, it is very important that they see value in these solutions and have the ability and willingness to change their existing habit. This paper elaborates our learnings from experiments deployed by us to improve the uptake of digital payments and promote digital financial inclusion of the population. Some key insights from our field work and interactions with stakeholders include:\r\n<ol>\r\n 	<li>Both the end-consumers and the merchants aren’t proactively looking for digital financial solutions, so the hook to adopt these will have to be very strong. It must be a solution that meets a specific personal need for it to be relevant.</li>\r\n 	<li>Digital financial services are seen as a ‘double-edged sword’ - While majority agree that digital payments and services are convenient and helpful, there is a perceived risk to one’s money due to mistrust in using technology for finances and lack of confidence in their data being kept private. It is very important for the solutions, communication channels and influencers to be trust-worthy to drive adoption.</li>\r\n 	<li>Another aspect that is critical to build customers’ trust is seamless alignment of solutions with emerging technologies. Currently, there are many teething problems with some of the nascent technologies that use UPI or AEPS. If solution providers cannot fix these issues, these liabilities should be clearly defined and communicated to the customers – so that there is no lack of trust later.</li>\r\n 	<li>Adoption of digital financial services is directly proportional to a customer’s familiarity with technology and his/her state of financial inclusion. Taking a low-income individuals on the route to digital financial inclusion, who may or may not have bank accounts to begin with, is a long-drawn process requiring sustained interventions. It is therefore important to first identify the early adopters - example someone who is actively banking and has a smartphone -as they will be more open to change. Once onboarded, they can be the change-agents in networks where they are trusted.</li>\r\n 	<li>Merchants are ready and willing to offer any digital payment solution that the consumers ask for, but the push must be driven by consumers’ demand for it so that it improves their business. Therefore, the initial capability focus for the solution providers should be end-consumers as it is their interest and intent that will decide the merchants’ interest.</li>\r\n 	<li>Taking financial decisions is, in general, perceived to be a complex task – especially by women where they pass on the task to men of the household. There could be various societal norms at play here, but it is very important to take out the complexity from matters related to money. Simple digital solutions can help boost confidence of women and others who might be finding financial decisions complex, in general, and address this need for simplicity in finance.</li>\r\n 	<li>Once people convert to digital payments, they sustain this behavior easily. It requires substantial time and effort to communicate benefits and handhold a consumer to onboard a new digital payments platform. However, once they are onboarded and have personally experienced the convenience of digital payment solutions, people continue to use them.</li>\r\n 	<li>Integrated digital financial inclusion programs should focus on the entire cycle from awareness to sustained change with a specific solution at every step.</li>\r\n 	<li>Finally, to communicate various value propositions and build digital financial capabilities of customers, CATALYST used different channels to reach out to them. We found that a mix of social media and interpersonal channels is important to reach different profiles of people (youth, working men, self-employed women, housewives) who would be at different stages of the adoption curve. For merchants, since they have little active interest in digital payments currently, the format needs to be trusted, easy, engaging and, most importantly, backed by support.</li>\r\n</ol>\r\n<em><a style=\"font-style: italic;\" href=\"http://documents.worldbank.org/curated/en/332881525873182837/The-Global-Findex-Database-2017-Measuring-Financial-Inclusion-and-the-Fintech-Revolution\">http://documents.worldbank.org/curated/en/332881525873182837/The-Global-Findex-Database-2017-Measuring-Financial-Inclusion-and-the-Fintech-Revolution</a></em>[/vc_column_text][kleo_gap][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][kleo_gap][vc_column_text letter_spacing=\"\"]\r\n<div style=\"text-align: center;\">Figure 1: The adoption continuum and learnings</div>\r\n[/vc_column_text][vc_single_image image=\"40265\" img_size=\"full\" alignment=\"center\"][kleo_gap][/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=\"40277\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"1. OVERVIEW\" 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][vc_column][vc_column_text letter_spacing=\"\"]There are numerous examples from different countries that show how digital finance helped unpack different benefits and had a positive impact on important indicators like increased financial resilience or gender equality. In Kenya, for instance, access to Kenyan mobile money system M-Pesa extended financial services to the unbanked population at a very low cost. It provided them with a more affordable payments system, improved their financial behavior and increased the financial resilience of the households. It lifted 194,000 households out of poverty and especially worked for women, who moved out of agriculture and into other businesses.² Similarly, in Mexico, digital financial inclusion and the increased transparency that came with it allowed KuboFinanciero to offer peer-to-peer lending platforms. The middle class and wealthier borrowers could connect with small businesses and households and offer them credit post assessing their profiles and risks. Therefore, the benefits of digital finance, in the long term go beyond just increasing convenience of transactions or driving down costs.\r\n\r\nHowever, adoption of digital financial services requires a change in existing behavior – of consumers and of merchants. It requires people to change their existing habit of using cash and hence it is important for any solution provider to first understand the barriers to change and next work out the nudges that result in behavior change. To come up with targeted solutions for customers, it is important to first understand how they think, make decisions and behave. Better understanding of human behavior and reasons behind their actions can lead to better design solutions. “The ability to understand what products and how they can be used to inculcate habit-forming behaviors in your target customer base can lead to the design of a sustaining product,” says Nir Eyal, author of How to Build Habitforming Products.\r\n\r\nAt CATALYST, we realized that to bring about a behavioral shift from cash to digital payments and to ensure integrated financial inclusion, we would first need to understand our target audience (merchants and end-consumers), their triggers and barriers towards digital financial services and then influence their behavior by improving their digital financial capability (DFC).\r\n\r\n² Suri, T. and William Jack <a style=\"font-style: italic;\" href=\"https://www.ncbi.nlm.nih.gov/pubmed/27940873\">https://www.ncbi.nlm.nih.gov/pubmed/27940873</a> December 9, 2016[/vc_column_text][/vc_column][/vc_row][vc_row type=\"image\" bg_color=\"#373b3c\" padding_top=\"150\" padding_bottom=\"150\" inline_style=\"font-style: normal;\" bg_image=\"40278\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"2. WHAT IS DIGITAL FINANCIAL CAPABILITY AND WHY IS IT IMPORTANT?\" 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\"]Financial capability is defined as ‘the combination of knowledge, skills, attitudes, and behaviors a person needs to make sound financial decisions. ³We defined digital financial capability as the ability and willingness of the customers to use digital financial services. The key levers that we tried to impact through our work were awareness and knowledge of various options available, how to use the service, attitude towards the service (i.e. willingness), using the service and finally repeated use (sustained behavior and advocacy).\r\n\r\n[/vc_column_text][kleo_gap][/vc_column_inner][/vc_row_inner][vc_column_text letter_spacing=\"\"]\r\n<div style=\"text-align: center;\">Figure 2: Levers of DFC</div>\r\n[/vc_column_text][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner width=\"2/3\"][vc_single_image image=\"40266\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][vc_column_text letter_spacing=\"\"]In isolation, while digital financial literacy shifts the responsibility onto consumers to decide for themselves and to act on the available options, DFC handholds consumers to the last mile by building their capacity to act as well as providing clear opportunities to do so. With the DFC approach, our intent was to convert people’s knowledge into action.  It is not just about making them aware; it is about filling the huge gap between awareness and action by providing specific end-to-end solutions throughout the adoption journey.\r\n\r\nTo change the sticky behavior of using cash, people do not just need to be educated about alternative solutions but also need clear answers to ‘why they should change’ and ‘how they should change,’ i.e., they need to have a value proposition or a nudge that will propel them to drop a habit. While ‘why’ will drive their willingness, the ‘how’ will increase their ability to transact.\r\n\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]<a style=\"font-style: italic;\" href=\"http://³ http://content.centerforfinancialinclusion.org/wp content/uploads/sites/2/2018/05/CFI_Brief_005_Banking_Sector_Approaches_05-29-2018.pdf\">³ http://content.centerforfinancialinclusion.org/wp content/uploads/sites/2/2018/05/CFI_Brief_005_Banking_Sector_Approaches_05-29-2018.pdf</a>[/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=\"40279\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"3. ECOSYSTEMS WHERE WE DEPLOYED DIGITAL FINANCIAL CAPABILITY EXPERIMENTS\" 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][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner el_class=\"normal-style\"][/vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]We first identified the ecosystems wherein digitization could solve the existing problems by bringing about behavior change.\r\n\r\n<strong>Dairy: </strong> A small-value daily purchase such as milk – which involves a number of stakeholders in the supply chain to finally bring milk to the end-consumer – presented a great opportunity for large-scale behavior change. There were four key players we could influence for behavior change across the dairy supply chain: Jaipur Dairy (supplying dairy products under the brand name Saras); dairy distributors; retailers at the booths; and end-consumers. Jaipur Dairy was already accepting payments digitally from distributors, allowing settlement only through bank transfers or checks. This meant that the distributor had to digitize the cash that s/he collected from the retailer; her/his cash collection agent would collect cash from all the retailers and then the distributor would visit banks multiple times to deposit it. There was also the problem of loose change during point-of-sales transactions and the risk of theft from cash collection agents. Digitization of payments along this supply chain from Jaipur Dairy to the end-consumer could resolve all these problems. Details of our work in the dairy ecosystem are presented in Annex 1b.\r\n\r\n<strong>EMitra: </strong> eMitra is an e-governance platform offered by the Government of Rajasthan that provides 387 government to customer (G2C) and customer to business (C2B) services such as electricity or water bill payments to its citizens. Rajasthan has over 52,000 physical eMitra centers across the state of which approximately 5,000 operate in Jaipur. Any eMitra entrepreneur must deposit an upfront amount of INR 1 lakh with the government to start providing these services to customers. Given that 98 percent of these transactions are made in cash by end-consumers means that the eMitra entrepreneurs face the burden of high initial working capital and loss of business when they are busy with bank visits to digitize their cash. Once we identified these challenges, we wanted to create an enabling environment for end-consumers to pay digitally for eMitra services. Details of our work in the eMitra ecosystem are presented in Annex 1c.\r\n\r\n<strong>Bhatta Basti: </strong> In this migrant slum cluster, to understand the target population and assess their financial needs, CATALYST conducted a survey with randomly selected 442 low-income households in August 2017.⁴ The study indicated useful statistics such as the majority of the bank account holders in Bhatta Basti were male heads of the family; only about 39 percent of the primary earners had any kind of savings; people largely relied on cash-based payments; and a mere 6 percent of the households had any information on digital payments. This highlighted the need for a step-wise approach to first educate consumers about the basic tenets of account opening, help open accounts for use, and then introduce them to the concept of digital financial payments and solutions. Details of our work in the Bhatta Basti ecosystem are presented in Annex 1a.[/vc_column_text][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner width=\"2/3\"][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Figure 3: Key demographics from Bhatta Basti</p>\r\n[/vc_column_text][vc_single_image image=\"40267\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][vc_column_text letter_spacing=\"\"]\r\n<div>For each of these ecosystems, we first mapped the journeys of our customers from awareness to adoption and identified triggers and barriers to then design value propositions and channels to influence their behavior.</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n\r\n<sup>4</sup>For more on the survey, check  <a style=\"font-style: italic;\" href=\"https://cashlesscatalyst.org/how-digitally-ready-are-the-urban-ultra-poor/\">https://cashlesscatalyst.org/how-digitally-ready-are-the-urban-ultra-poor/</a>\r\n\r\n[/vc_column_text][/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=\"40280\"][vc_column][vc_custom_heading text=\"4. UNDERSTANDING OUR CUSTOMERS’ NEEDS, TRIGGERS AND BARRIERS TO ADOPTION OF DIGITAL FINANCIAL SERVICES\" 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][/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\"]Catalyst conducted a survey⁵ in Jaipur that revealed that over two-fifths of the merchants surveyed had tried some form of digital payments. However, only a third reported sustained use, a fraction of the overall volumes. The most popular payment service was closed loop wallets, chosen by nearly three-fourths of those surveyed. A little less than a third used cards, and about 25 percent used internet banking. Only 8 percent of overall customer transactions by value were executed digitally. Merchants stated a low customer demand as the biggest reason for not using digital payment solutions, followed by a lack of awareness and the fear of being cheated in that order.⁶[/vc_column_text][vc_column_text letter_spacing=\"\"]Catalyst conducted a survey⁵ in Jaipur that revealed that over two-fifths of the merchants surveyed had tried some form of digital payments. However, only a third reported sustained use, a fraction of the overall volumes. The most popular payment service was closed loop wallets, chosen by nearly three-fourths of those surveyed. A little less than a third used cards, and about 25 percent used internet banking. Only 8 percent of overall customer transactions by value were executed digitally. Merchants stated a low customer demand as the biggest reason for not using digital payment solutions, followed by a lack of awareness and the fear of being cheated in that order.⁶\r\n\r\nThese survey findings were in line with common knowledge in this domain that barriers to adoption of digital financial services are in abundance, more so among the poor in India. Use of cash for payments is a particularly sticky habit, one that has witnessed resurgence after seeing a slight dip in the demonetization aftermath. Several situational and behavioral factors play a role here. Through extensive desk research and our work across various use-cases, we identified the following key barriers to adoption of digital financial services -\r\n\r\n1. habit of using cash and inertia towards non-cash methods\r\n\r\n2. lack of compelling value propositions to change\r\n\r\n3. limited access to mobile phones and the internet coupled with infrastructural barriers such as poor network connectivity and irregular electricity\r\n\r\n4. low levels of digital literacy and perceived complexity of using digital platforms\r\n\r\n5. lack of trust in digital services, with fears of fraud and hidden charges;\r\n\r\n6. limited acceptance of digital infrastructure by local merchants is both an access and usage barrier. This is often common with new consumers, especially when the interface is cumbersome, or the transaction experience is not smooth owing to poor connectivity or confusing instructions. During the initial trial phase, trust placed in the platform is quickly revoked and the customer reverts to cash.\r\n\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div>\r\n<div>\r\n<div>Active field work and continuous monitoring of data enabled identification of key focus areas, and factors that were working and non working in improving DFC in each of the ecosystems. For illustrative purposes, we have listed in Table 1 the key triggers and barriers at every step of the journey that led to the DFC nudges in Bhatta Basti. More details of our work in Bhatta Basti can be found in Annex 1a.</div>\r\n</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]<sup>5</sup>See: Mapping the Merchant’s Mind: An analysis of digital payments behaviors by fixed store merchants in Jaipur, Malick, Badal and Rajesh Shukla, PRICE-Catalyst report 2018 &lt;<a style=\"font-style: italic;\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/07/Price-Report-Short-20-June-edited-min.pdf\">https://cashlesscatalyst.org/wp-content/uploads/2018/07/Price-Report-Short-20-June-edited-min.pdf</a>&gt;\r\n<sup>6</sup> Price-CATALYST report 2018, Malick, B. and R. Shukla, ibid.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][kleo_gap][vc_column_text letter_spacing=\"\"]\r\n<div>\r\n<div style=\"text-align: center;\">Table 1: Illustrative box on triggers and barriers identified for digital financial inclusion journey in Bhatta Basti</div>\r\n</div>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\"]\r\n\r\n<style>\r\ntable {border-collapse: collapse;}table, td, th {border: 1px solid black;} .red {color:#E83355; text-align:center;} th{text-align:center;} td {padding:1rem;}<br />\r\n</style>\r\n<table>\r\n<tbody>\r\n<tr>\r\n<th>Stages of adoption</th>\r\n<th>Triggers</th>\r\n<th>Barriers</th>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Awareness and Consideration (Bank Accounts)</td>\r\n<td>Value propositions of benefits and advantages of savings and banking</td>\r\n<td>Little awareness about benefits of savings and bank accounts</td>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Adoption of bank accounts</td>\r\n<td>Improved awareness and financial capability - how to use financial sources, whom to trust and what information must not be shared</td>\r\n<td>\r\n<ul>\r\n 	<li>Lack of trust - refusal to open bank accounts due to prior experience with the cases of fraud</li>\r\n 	<li>Documentation issues - Documents unavailable in case of migrant members, problems associated with Aadhaar card</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Active Banking</td>\r\n<td>\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td>Connecting financial inclusion to education inclusion, health inclusion etc. For example. many families wanted to avail of scholarships for their children upon opening bank accounts</td>\r\n</tr>\r\n<tr>\r\n<td>Youth /educated member in the family were often consulted for advice on financial matters. Thus, increased efficacy towards digital financial capability among youth would have a positive influence</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n<td>\r\n<table>\r\n<tbody>\r\n<tr>\r\n<td>Lack of clear value proposition for financial inclusion</td>\r\n</tr>\r\n<tr>\r\n<td>\r\n<ul>\r\n 	<li>Lack of trust, particularly amongst women in Bhatta Basti, about the safety of money in bank accounts</li>\r\n 	<li>Low confidence in safekeeping of debit cards and making digital payments</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Awareness and Consideration (Digital Payments)</td>\r\n<td>\r\n<ul>\r\n 	<li>Awareness about usage and how to keep accounts secure,</li>\r\n 	<li>Incentive</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>Most did not have smartphones</li>\r\n 	<li>Little awareness, exposure or familiarity with banking and mobile payment operations/ instruments and its perceived complexity</li>\r\n 	<li>Lack of trust in safety associated with digital transactions</li>\r\n 	<li>No interest or motivation in using non-cash modes of payment</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Adoption of digital payments</td>\r\n<td>\r\n<ul>\r\n 	<li>Aspirational imagery of being with the times (mostly youth)</li>\r\n 	<li>Convenience (mostly working men)</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>Network issues - lack of access to internet in many parts of Bhatta Basti</li>\r\n 	<li>Time and distance factor for the process of on-boarding</li>\r\n 	<li>Varied technical glitches and problems</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Active usage of digital payments</td>\r\n<td>Adoption of digital payment solutions such as AEPS, UPI etc. by merchants, e-mitras and vendors in Bhatta Basti</td>\r\n<td>\r\n<ul>\r\n 	<li>Lack of reliable and consistent network</li>\r\n 	<li>No clear benefit seen over cash payments</li>\r\n 	<li>Absence of regular and trusted merchants and vendors on these platforms</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n[/vc_column_text][kleo_gap][/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=\"40281\"][vc_column][vc_custom_heading text=\"5. DESIGNING BEHAVIORAL NUDGES AND CHANNELS TO COMMUNICATE\" 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][/vc_row][vc_row type=\"image\" enable_parallax=\"false\" padding_top=\"50\" padding_bottom=\"150\" inline_style=\"font-style: normal;\"][vc_column][vc_column_text letter_spacing=\"\"]Once the gaps and opportunities within each user segment were identified, our efforts were directed towards answering two critical questions: where should the digital financial solutions operate (in the user journey) and what is the value gap that they will address? This is the step at which targeted solutions to address the gaps and the relevant behavioral nudges emerged.\r\n<div>While designing the DFC nudges and choosing various channels for its delivery, we ensured a mix of value propositions for both the merchants as well as the end-consumers – that addressed various stages of adoption. The decision on the channels and the value propositions we communicated were based on –</div>\r\n<div><strong>a. Profile of the target group–</strong> We based our decisions of channels on the knowledge about smartphone ownership and social media usage of the merchants and end-consumers. A majority of the merchants owned a smartphone and had a presence on social media. In Bhatta Basti, less than half of the population owned smartphones.</div>\r\n<div><strong>b. Stage of adoption and triggers/barriers–</strong> Both merchants and end-consumers are at different stages of adoption. While some were open and willing to transact digitally, they did not have the ability; others were not even aware of digital payment options. Therefore, in some cases, the solution needed to increase awareness and invoke interest while, in others, the solutions needed to begin with getting the end-consumer onboarded onto the platform and then take them forward. Further, our communication through these channels was based on the triggers and barriers identified through our field work. An illustration of the triggers and barriers across the dairy merchants’ adoption journey is provided in Table 2.</div>\r\n[/vc_column_text][vc_column_inner][/vc_column_inner][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Table 2: Illustrative information on triggers and barriers identified for adoption of digital payment solutions by dairy merchants</p>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: center;\"><style>\r\ntable {border-collapse: collapse;}table, td, th {border: 1px solid black;} .red {color:#E83355; text-align:center;} th{text-align:center;} td {padding:1rem;}<br />\r\n</style></p>\r\n\r\n<table>\r\n<tbody>\r\n<tr>\r\n<th>Stages of adoption</th>\r\n<th>Triggers</th>\r\n<th>Barriers</th>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Engaged but not adopted</td>\r\n<td>\r\n<ul>\r\n 	<li>Value proposition of direct money transfer to bank account increases security and eases services like bill payment, account-to-account money transfer.</li>\r\n 	<li>Perception of digital payments to be an inevitable future.</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>Technical difficulties of using correct phone version, bank account type, etc.</li>\r\n 	<li>Perceived time and complexity of a digital transaction.</li>\r\n 	<li>Lack incentive to undertake extra effort in terms of daily bank visit to digitize income and opportunity cost of time, fuel and business loss.</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Engaged and adopted</td>\r\n<td>\r\n<ul>\r\n 	<li>Direct money transfer and increased security.</li>\r\n 	<li>Helped retailers in credit building.</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>Lack of customer interest in digital payments.</li>\r\n 	<li>90% of the non-cash customers use wallets, and show resistance to UPI adoption.</li>\r\n 	<li>Lack incentive and opportunity cost of bank visit.</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Active user</td>\r\n<td>\r\n<ul>\r\n 	<li>Allow retailers to pay at convenience with no dependency on distributor’s cash collector.</li>\r\n 	<li>Hassle-free accounting.</li>\r\n 	<li>Direct money transfer.</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>Network connectivity issues.</li>\r\n 	<li>Commission charges of digital payment service providers diminish the already thin dairy margins.</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div>\r\n<div>c. Familiarity and trust with channel: It is very important to select a channel that the customers are familiar with and trust completely. This is also true of the change agents or influencers who introduce them to the solutions.</div>\r\n<div></div>\r\n<div>Based on the above, the various channels that CATALYST used to communicate value propositions and improve DFC of the customers across ecosystems are presented in the matrix in Figure 4.</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Table 3: Channels used to present DFC value proposition</p>\r\n\r\n<table>\r\n<tbody>\r\n<tr>\r\n<th></th>\r\n<th>eMitras</th>\r\n<th>Dairy</th>\r\n<th>Bhatta Basti</th>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Merchant-facing</td>\r\n<td>\r\n<ul>\r\n 	<li>Interactive Voice Response System (IVRS) for knowledge dissemination</li>\r\n 	<li>WhatsApp group for peer-to-peer influence and nudge</li>\r\n 	<li>Capacity building of eMitra agents</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>IVRS for knowledge dissemination</li>\r\n 	<li>WhatsApp group for peer-to-peer influence and nudge</li>\r\n 	<li>Capacity building of dairy merchants</li>\r\n</ul>\r\n</td>\r\n<td></td>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Consumer-facing</td>\r\n<td>\r\n<ul>\r\n 	<li>Flyers at points of sale</li>\r\n 	<li>Incentives</li>\r\n 	<li>Personal handholding for onboarding</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>Flyers at points of sale</li>\r\n 	<li>Personal handholding for onboarding</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>Facebook awareness video</li>\r\n 	<li>Digital mela for awareness and onboarding (with distribution of visual collaterals like comic books, flyers)</li>\r\n 	<li>WhatsApp group moderated by change agents of the community</li>\r\n 	<li>Personal handholding for onboarding</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n[/vc_column_text][vc_custom_heading text=\"FOR MERCHANTS (DAIRY AND EMITRA)\" 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 letter_spacing=\"\"]<strong>Toll-free IVRS: </strong>\r\n\r\nTo bring merchants onboard digital solutions and prompt them advocate them to their customers, we felt that the first step was to increase their knowledge about the different options available. Towards this end, an IVRS was set up to provide information to merchants over phone about various payment options and how to use them. The merchants could call in at the number at any time, free of cost, and get information on any digital payment solution they were interested in. We had spread awareness about the IVRS number within the top 500 eMitra entrepreneurs based in Jaipur as well as the dairy retailer network of the onboarded distributors of the dairy digitization project.\r\n\r\n<strong>a. What worked?</strong>\r\nAnybody could call at the toll-free number (it did not have to be a smartphone user) at their own convenience to acquire knowledge about any solution that they were interested in. The purpose of the IVRS was clear to the merchants and it successfully assuaged trust issues by establishing association with the Government of Rajasthan; the voice quality was appreciated; the information flow and navigation were considered easy.\r\n\r\n<strong>b. What didn’t work?</strong>\r\nIt is too early a stage for merchants to call proactively. The precursor to evoking merchants’ interest in a solution like this is to first increase consumer uptake for digital payment solutions which would act as the push. Furthermore, merchants who accessed the IVRS felt that there was information overload and, due to their other work, they could not give so much time to the IVRS.[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div>\r\n<div>Since merchants have very little active interest in digital payments right now, channels such as IVRS where they need to call by themselves might not work unless there is a clear incentive or direct link with increase in business. Even at a stage where merchants are ready and willing to access IVRS, the format needs to be trusted, easy, engaging and, most importantly, backed by support, with a follow up SMS or WhatsApp message This will serve as a ready reckoner and have the link to a customer support number to pose further queries to.</div>\r\n</div>\r\n[/vc_column_text][vc_custom_heading text=\"WhatsApp group of merchants:\r\n\" 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=\"\"]\r\n<div>\r\n<div>We created and moderated a WhatsApp group of 20 merchants with the idea of offering the merchants a platform to share their experiences and challenges with others like them. We used WhatsApp as all the merchants were familiar with and already using the app. It also allowed easy sharing of multimedia such as images, videos, etc. We shared information on the benefits of digital payments such as convenience of instant bank-to-bank transfers, no need for loose change, etc. The idea was to inspire them to go digital and then leave them with a channel that does not require moderation from a third party but is sustainable through their own information sharing. WhatsApp was the merchants’ preferred mode to receive information on digital payments as they use it extensively and find it non-intrusive.</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]<strong>a. What worked?</strong>\r\nWhatsApp was the merchants’ preferred mode to receive information on digital payments as they use it extensively and find it non-intrusive.\r\n\r\n<strong>b. What didn’t work?</strong>\r\nLow interest in digital payments from consumers meant low interest among merchants and hence the WhatsApp group did not show much proactive engagement. The merchants informed us that they preferred videos over texts.\r\n\r\nTherefore, a merchants’ WhatsApp group has the potential to act as a redressal mechanism as merchants can share their experiences and learn from each other, but it may work only at a later stage of digital payments adoption.\r\n\r\n[/vc_column_text][vc_custom_heading text=\"Interpersonal communication and capacity building of merchants:\r\n\" 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=\"\"]This was done to ensure that the merchants themselves spread awareness about digital payments, explain their benefits and onboard potential users. They were educated on how it would benefit them as well as their consumers and how it was to be done. Merchants were also given collaterals that taught them about the benefits of various payment methods.\r\n\r\n<strong>a. What worked?</strong>\r\nThis was an easy method of conveying the benefits and advantages of adopting digital payments and banking. It also helped address the merchants’ needs to understand the process of onboarding their customers.\r\n\r\n<strong>b. What didn’t work?</strong>\r\nPersonal handholding for every merchant involves a very intensive effort and heavy investment. There is a lot of dependability on the solution providers’ agent and his/her training to be able to make a difference.\r\n\r\nOne of the key learnings was that not all end-consumers view merchants as a trusted source for financial information so merchants might not be the right catalyst for improving DFC of end-consumers.\r\n[/vc_column_text][vc_custom_heading text=\"FOR CONSUMERS (DAIRY AND EMITRA)\" 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 letter_spacing=\"\"]<strong>Flyers and interpersonal communication at the point of sales:</strong>\r\n\r\nTo spread awareness about digital payment solutions and their benefits, we placed collaterals on the key value propositions of digital payments at eMitra centers and dairy booths. These were targeted at the digitally-ready audience which would be interested in using digital payments due to the problems of loose change at the dairy booth or the benefit of convenience, in general. They were expected to find the value propositions relevant and ask the merchant for more information. We also provided personal handholding at the dairy booths and eMitra centers to those interested in onboarding onto digital payment solutions. The handholding exercise was undertaken to assist customers with UPI onboarding and to observe and learn from the uptake behavior.\r\n\r\n<strong>Example of a consumer-facing dairy collateral that gives the reasons of using digital payments</strong>\r\n[/vc_column_text][vc_single_image image=\"40268\" img_size=\"full\" alignment=\"center\"][vc_column_text letter_spacing=\"\"]<strong>a. What worked</strong>\r\nFlyers are a subtle and non-intrusive way of making consumers aware of the presence of digital payment solutions with the merchant. It encouraged digitally-ready consumers to seek more information through the merchant. Personal handholding worked better to onboard people onto the platform as there are still many technological challenges that people face when accessing the solutions on their own, due to which they give up easily.\r\n<strong>b. What didn\'t work</strong>\r\nThose who are not already positively inclined towards digital payments do not pay much attention to flyers, but personal talk makes a difference in convincing them. The majority told us they would be motivated by cash backs and rewards to use digital payments, else they were comfortable with cash and saw no reason to shift.[/vc_column_text][vc_custom_heading text=\"For consumers (Bhatta Basti)\" 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=\"\"]<strong>Facebook awareness videos: </strong>\r\n\r\nTo generate initial interest amongst the early adopters of digital payments, we implemented a geo-targeted Facebook campaign in Bhatta Basti to let smartphone users know about digital payments being used in their area and achievements of other people in their communities. These were targeted at youth ambassadors who can influence others in the community and relied on the “network effect” to attract other account holders.\r\n\r\n<strong>a. What worked</strong>\r\nFacebook as a medium turned out to be very cost-effective and targeted, with our campaign reaching over a lakh Facebook users (early adopters of technology) in and around Bhatta Basti.\r\n<strong>b. What didn\'t work</strong>\r\nThe profile of smartphone users became the profile of our campaign; 91 percent of the people reached through the Facebook campaign were men and only 9 percent were women.\r\n[/vc_column_text][vc_custom_heading text=\"Digital mela for consumers across different stages of adoption: \" 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=\"\"]\r\n<div>\r\n<div>Our research indicated that, in an ultra-poor locality such as Bhatta Basti, onboarding customers onto digital payment platforms required the highest degree of in-person handholding, particularly for the initial set of transactions. Hence, it was important to find economical ways of deploying this handholding and our digital mela in Bhatta Basti (in October 2018) was such an attempt. At the mela, we provided two main kinds of services:</div>\r\n</div>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\"]\r\n<div>\r\n<div>i. Information about Automated Teller Machine (ATM) PIN generation; and</div>\r\n<div>ii. Handholding support for UPI onboarding (downloading and registering).</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div>\r\n<div>For spreading awareness about the mela, we identified those youngsters who were already making digital payments and recruited them for our work. We called them ‘Digital Champions’ and they were supposed to encourage and get their peers to the mela. The mela helped build customer capability in an interesting manner through role plays and comic books, etc. We distributed various comic books on ATM pin generation, AEPS and advantages and usage of UPI among people of different ages and with varying levels of digital and financial awareness in Bhatta Basti. (An example of a comic book on UPI is shown below).</div>\r\n</div>\r\n[/vc_column_text][vc_single_image image=\"40269\" img_size=\"full\"][vc_column_text letter_spacing=\"\"]Link to full comic book: UPI full comic book\r\n<div></div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]<strong>a. What worked?</strong>\r\nThe \'Digital Champions’ helped us reach out to their peers in their communities in a very targeted and effective way. The digital mela proved to be a good mode of creating awareness and spreading knowledge on UPI services. Sixty-two percent of the attendees said they learnt about the advantages of using UPI and 46 percent said they started transacting using UPI. Comic books were seen as fun and they cut through demographics and gender in their appeal.\r\n<strong>b. What didn\'t work?</strong>\r\nFootfall was male dominated (92 percent) possibly due to the mela being in central market. In order to reach out to more women, a more central location could be chosen. Many felt that the language used in the comic books should have been simpler and easy to understand, and there should have been more pictures and illustrations.[/vc_column_text][vc_custom_heading text=\"WhatsApp group for individuals: \" 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=\"\"]\r\n<div>\r\n<div>Over the course of four months, we created and moderated two WhatsApp groups in Bhatta Basti to spread digital financial awareness: one for men and one for women. We realized that we could not have both men and women in the same group due to the cultural context of Bhatta Basti. The WhatsApp group of male members comprised young, early adopters of UPI (whom we called ‘Digital Champions’) while that for females consisted of women in the community (who were at different points in the digital user journey). The Digital Champions were identified as change agents of their community and helped us spread awareness about digital financial inclusion in their community. The WhatsApp group of community women was to encourage the general population of women to discuss their experiences with digital financial services and learn from each other.</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]<strong>a. What worked?</strong>\r\nWhatsApp can be successfully used as a redressal mechanism platform and can be a good channel for early adopters.\r\n<strong>b. What didn\'t work?</strong>\r\nBuilding DFC of people at earlier parts of the user journey may require other forms such as personal handholding rather than WhatsApp. One of the most important takeaways for us was that it was crucial to have a moderator for each group who ensured regularity and quality of the content that is being shared. Further, it was crucial to have an incentive structure (value proposition) for the moderator to ensure active participation of all members. One of the problems we faced was sharing of unrelated information and fake news forwards. Having the moderator put together a set of rules and regulations is very important.[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div>\r\n<div>The specific DFC nudges and channels devised by us are detailed under the respective ecosystem sections in this paper.</div>\r\n</div>\r\n[/vc_column_text][/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=\"40282\"][vc_column][vc_custom_heading text=\"6. KEY INSIGHTS AND RECOMMENDATIONS FROM CATALYST’S PILOTS BY STAGES OF ADOPTION\" 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][/vc_row][vc_row type=\"image\" enable_parallax=\"false\" padding_top=\"150\" padding_bottom=\"150\" inline_style=\"font-style: normal;\"][vc_column][vc_column_text letter_spacing=\"\"]<strong>Initial stage to make customer interested in digital payments – improving customers’ awareness and consideration for digital solutions</strong>[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n\r\n<strong>a.</strong> A major problem that we faced during our experiments was communicating a clear value proposition on digital financial inclusion.\r\n\r\nIn-depth interviews with our customers during pilots suggested that the convenience or speed of making or receiving digital payments is not a big pull for the low- to middle-income class to make a shift from cash to digital. Unless a strong value proposition exists, expecting consumers to make the journey from being aware to actively seeking knowledge and adopting will not happen.\r\n\r\nFor digital financial inclusion to resonate with customers, its “benefits to self” need to be strongly linked with people’s personal aspirations – both merchants’ as well as consumers In the same light, for encouraging digital payments, it is very important for the incentives to be clear and attention-catching, for example, the eMitra incentivization model was found to be too complex to be able to motivate the merchants.\r\n\r\n<strong>b.</strong> One of the biggest barriers to adoption is that there is a perceived risk to one’s money due to mistrust in using technology for finances. There is also a lack of confidence in the privacy of personal data. Coupled with this is the problem of frauds in urban slum clusters, as we found out in Bhatta Basti where a few people posing as solution providers had robbed people of their money. Similar experiments aimed at improving financial capability of women from low-income segments, such as with the Grameen Foundation,⁷ have shown that the use of a trust-worthy person (a front-line worker in this case), who happens to be an influencer in financial solutions, goes a long way in making women act positively.\r\n\r\nQualitative insights suggest that trust plays a very big factor in financial decisions of any kind including decisions on using digital financial payments. Hence, network analysis, i.e., following one’s friends and family, emerged as one of the most important triggers for digital financial inclusion.\r\n\r\n<sup>7</sup> http://www.grameenfoundation.in/wp-content/uploads/2018/02/JPM-Project-evaluation-Report_-Scaling-Digital-FinancialServices_FINAL.pdf\r\n\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n\r\nLack of trust in digital payments is also a result of initial teething problems with nascent technologies. Many times, during our experiments, we observed problems of a slow network and consumers dropping off during the process of onboarding. It is important for the technology solution to offer the user a seamless experience as initial teething problems with UPI or AEPS platforms often compels consumers to question the proposition of convenience in digital.\r\n\r\nBuilding trust with the platform at the initial stage can go a long way in getting more customers on board. This can be done in various ways:\r\n\r\n<strong>i.</strong> By reaching out to the customers through their trusted channels, i.e., friends and family who are more familiar with financial inclusion;\r\n\r\n<strong>ii.</strong> At the same time it is important to ensure the presence of a trusted authority such as a bank representative at the time of onboarding or during awareness camps; and\r\n\r\n<strong>iii.</strong>Financial service providers should be transparent about problems that a user might face in the adoption journey, so that there is no lack of confidence in the solution later.\r\n\r\n<strong>c.</strong> Consumers are not just at different stages of adoption of digital financial solutions but also at different stages of financial inclusion and technology familiarity. Taking a low-income individual, who may or may not have bank accounts to begin with, on the route to digital financial inclusion is a long-drawn process requiring sustained interventions. It is, therefore, very important to identify the early adopters of digital payments, i.e., those who are comfortable with technology and actively banking or maybe have a debit card and shift them first to digital payment platforms. They can then become the change agents for their families and communities. This also ensures that communication to the majority takes place through their trusted sources.\r\n\r\n<strong>c(i).</strong> Across ecosystems, it was noticed that customers who were more familiar with technology in general were more open to digital payments and did not have trust issues.\r\n\r\nThese were mostly middle-aged working men who had bank accounts linked to Aadhaar cards or the younger people in the family with smartphones for whom making digital payments was aspirational.\r\n\r\n<strong>c(ii).</strong> Once these early adopters start using digital payments, they can help build financial capability within their families and peers. It is this positively inclined subset that can act as catalyst for digital payments within their networks; and\r\n\r\n<strong>c(iii).</strong> We found in our pilots that these people in the family are also more active on social media (WhatsApp and Facebook) and can be targeted through these channels.\r\n\r\n<strong>Next stage to improve knowledge and shift attitudes toward digital solutions</strong>\r\n\r\n<strong>d.</strong> Currently, merchants see no reason for asking consumers to change their habit of using cash. The benefits for merchants, such as a smaller number of trips to banks, or convenience for both parties are not enough for changing a sticky habit. Both dairy retailers as well as eMitra entrepreneurs from our pilots suggested that they were willing to invest time in learning more about a digital payments solution provided consumers ask for it and it improves their business/ sales. In our survey with merchants, 55 percent of fixed store merchants cited ‘low consumer demand’ among the top reasons for non-adoption of digital payments at their shop. A case in point: a lack of intent from end-consumers resulted in little encouragement for merchants to dig deep about various solutions and this was evident in the poor uptake of the IVRS, set up as an information bank for merchants.\r\n\r\nCATALYST conducted a merchant survey⁸ in Jaipur in which 64 percent of fixed store merchants and 57 percent of home-based businesses mentioned that the biggest trigger for them to go digital would be an increase in sales or footfalls, and not easier and faster modes to get paid or for recording transactions. Improvement in efficiency of payments and recoding of transactions is not as important for them to make the shift. The merchants are hungry for growth and unless the benefits of advocating digital payments to their consumers are linked to their aspirations, they do not see much value in going digital at present.\r\n\r\n<sup>8</sup> See: Mapping the Merchant’s Mind: An analysis of digital payments behaviors by fixed store merchants in Jaipur, Malick Badal and Rajesh\r\n\r\nShukla, PRICE-Catalyst report 2018 <a href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/07/Price-Report-Short-20-June-edited-min.pdf\">https://cashlesscatalyst.org/wp-content/uploads/2018/07/Price-Report-Short-20-June-edited-min.pdf</a>\r\n\r\n[/vc_column_text][/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][kleo_gap][vc_row_inner][vc_column_inner][vc_custom_heading text=\"ANNEX 1: DETAILS OF OUR WORK FROM EACH ECOSYSTEM\" 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][kleo_gap][/vc_column][/vc_row][vc_row][vc_column][vc_custom_heading text=\"1a. Bhatta Basti\" 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=\"\"]\r\n<div>\r\n<div>Our research study in Bhatta Basti indicated that low-income households of Bhatta Basti largely relied on cash-based payments and depended on their social network for financial advice and borrowing/saving activities. Despite being prominent in the urban city of Jaipur, Bhatta Basti lacked adequate internet network, smartphones, Point of Sale (PoS)/mobile PoS machines that limited the adoption of digital payment solutions by households.</div>\r\n<div>This highlighted the need for a step-wise approach of first educating consumers about the basic tenets of account opening, helping open accounts for use, and then introducing them to the concept of digital financial payments and solutions. Given the diversity in financial behaviors, attitudes and adoption of financial services, we realized that customized interventions had to be designed for people at different stages of the user journey.</div>\r\n<div>The user journey in Bhatta Basti was broadly categorized in the following stages to design nudges:</div>\r\n</div>\r\n[/vc_column_text][kleo_gap][vc_single_image image=\"40272\" img_size=\"full\" alignment=\"center\"][kleo_gap][vc_column_text letter_spacing=\"\"]\r\n<div>\r\n<div>Our understanding of the target group, their triggers and barriers towards financial inclusion led to the development of the following DFC levers and initiatives.</div>\r\n</div>\r\n[/vc_column_text][vc_custom_heading text=\"DFC NUDGES TO ENABLE UPTAKE OF DIGITAL PAYMENT SOLUTIONS\" 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=\"\"]\r\n<div>\r\n<div>Based on the above barriers and triggers, we devised behavioral nudges that could be used to increase DFC of people at each of these stages.</div>\r\n</div>\r\n[/vc_column_text][vc_custom_heading text=\"STAGES 1, 2 and 3, i.e., awareness of bank accounts to active banking\" font_container=\"tag:h4|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 letter_spacing=\"\"]\r\n\r\nWe collaborated with SEWA Bharat⁹ and FIA[2] which helped us in community mobilization and implementation, respectively. We set up financial literacy camps where we used official collateral to disseminate information about the importance of savings and informed the audience about how the creation of bank accounts can help in the process. Besides this, we also conducted door-to-door lead generation campaigns and encouraged people to open bank accounts while simultaneously informing them about the associated benefits. Further, FIA helped us set up Customer Service Points (CSPs) to help bring bank facilities closer to their doorsteps. We also distributed collaterals and conducted camps to aid people in the task of opening bank accounts.\r\n\r\n<a href=\"http://sewabharat.org/\">http://sewabharat.org/</a>\r\n\r\n<a href=\"https://fiaglobal.com/\">https://fiaglobal.com/</a>\r\n\r\n[/vc_column_text][vc_custom_heading text=\"STAGES 4, 5 and 6, i.e., awareness of digital payments to active usage of digital payments\" font_container=\"tag:h4|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 letter_spacing=\"\"]Our initial research indicated that the task of onboarding people onto digital platforms to make payments required a great degree of handholding in Bhatta Basti. To constantly build people’s DFC, we undertook various approaches ranging from interpersonal communication such as door-to-door handholding, camps at common places to mass communication in Bhatta Basti through Facebook. We planned to generate initial interest amongst the early adopters through Facebook and community youth ambassadors and relied on the “network effect” to attract other account holders.\r\nWhile the Facebook campaign geo-targeted the whole of Bhatta Basti and included digitally-savvy merchants and representatives from SEWA talking about benefits of digital payments, we separately personally targeted our 619 new account holders. These account holders were divided in tiers based on their self-efficacy and stage of adoption and we customized our nudges according to these tiers:\r\n<strong>I. Tier 1:</strong> those who had taken the initiative to generate an ATM PIN on their own. This segment had the highest self-efficacy and was identified as the early adopters of digital payments. For this segment, we conducted individual handholding sessions as well as distributed collaterals and comic books to promote UPI, AEPS and digital saving platforms. We created a WhatsApp group for some of these on which we shared collaterals and information videos.\r\nLink to full comic book: AEPS Comic book full\r\n<strong>I. Tier 2:</strong> those with accounts but needed help to generate the ATM PIN. We set up ATM PIN generation camps for these individuals.\r\n<strong>II. Tier 3:</strong> those who did not have an ATM card. Here, we worked with CSPs to track the ATM cards and ensured that we got these to the account holders. This segment was also given education on uses and benefits of digital payment solutions.\r\n<strong>III. Tier 4:</strong> the rest whom we could not reach[/vc_column_text][kleo_gap][vc_single_image image=\"40270\" img_size=\"full\" alignment=\"center\"][kleo_gap][vc_column_text letter_spacing=\"\"]\r\n<div>\r\n<div>Besides the above, we also actively used social media for increasing people’s DFC. We implemented an ecosystem wide geo-targeted Facebook campaign to let people know about our work and to inform them about the behaviors and achievements of other people in their communities. This campaign was aimed at increasing awareness of the target population and encouraging them to become users of digital payment solutions.</div>\r\n</div>\r\n[/vc_column_text][kleo_gap][vc_custom_heading text=\"1b. Dairy\" font_container=\"tag:h4|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 letter_spacing=\"\"]\r\n<div>\r\n<div>Dairy, a sector that has high frequency, small-value purchases and is facing the problem of loose change during PoS transactions, emerged as a good target point to influence merchant-consumers interaction on digital payments. The idea was that once the retailers and end-consumers understand the benefits of digitization and adopt it, it would complete the cycle of dairy digitization. We first undertook research to understand the stages of adoption across retailers and consumers, and the triggers and barriers at each stage. Our communication solutions had to address these barriers and use the value propositions that hit a chord with the early adopters.</div>\r\n<div>Triggers and barriers in digital payment solutions’ adoption for dairy retailers -</div>\r\n<div>Refer to Table No. 2 in the report.</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Table 4: Triggers and barriers in digital payment solutions’ adoption for dairy consumers</p>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: center;\"><style>\r\nul{  list-style: disc}<br />\r\n</style></p>\r\nNot Aware\r\n<ul>\r\n 	<li>Little awareness, exposure or familiarity with banking and mobile payment.</li>\r\n 	<li>operations/instruments and their perceived complexity.</li>\r\n 	<li>Purchase of food/daily grocery items is led by women, most of whom did not have smartphones.</li>\r\n 	<li>No habit of carrying cards while shopping, especially for small purchases, resulting in low possibility of handholding them in the use of an app or a digital payment service.</li>\r\n 	<li>Perception of mobile applications being too complicated.</li>\r\n</ul>\r\n<table>\r\n<tbody>\r\n<tr>\r\n<th>Stages of adoption</th>\r\n<th>Triggers</th>\r\n<th>Barriers</th>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Aware but not adopted</td>\r\n<td>\r\n<ul>\r\n 	<li>Working population comparably more familiar with banking operations/instruments and mobile applications owing to exposure at the work place.</li>\r\n 	<li>Acknowledge that biometric payment method is suitable for those without smartphone access or those who find use of mobile-based applications too complicated.</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>No habit of carrying cards while shopping, especially for small purchases, resulting in low possibility of handholding them in the use of an app or a digital payment service.</li>\r\n 	<li>Customers had not seen any indication that the merchant accepts digital payments, and had come prepared to pay in cash.</li>\r\n 	<li>Perception of mobile applications being too complicated.</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Engaged but not adopted/adopted</td>\r\n<td>\r\n<ul>\r\n 	<li>Acknowledge that digital payments will help tackle the problem of carrying loose change for the small purchases.</li>\r\n 	<li>Acknowledge that the biometric payment method is suitable for those without smartphone access or those who find use of mobile-based applications too complicated.</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>No interest or motivation in using non-cash modes of payment, at least for these smaller ticket sizes. Consumers felt that the proposition of having digital financial transactions makes better sense at supermarkets and relatively bigger stores than dairies</li>\r\n 	<li>The lengthy onboarding process to get a UPI ID seen as a deterrent since it was compared with the ability to pay in cash instantly</li>\r\n 	<li>Lack of trust on the merchant, given low awareness and knowledge and consequent dependency on the merchant for making digital transactions</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n[/vc_column_text][/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][kleo_gap][vc_row_inner][vc_column_inner][vc_custom_heading text=\"DFC NUDGES TO ENABLE UPTAKE OF DIGITAL PAYMENT SOLUTIONS\" 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][kleo_gap][/vc_column][/vc_row][vc_row][vc_column][vc_column_text letter_spacing=\"\"]\r\n<div>\r\n<div>What clearly emerged from the data was that the main fracture in the user journey was from the awareness and engagement to adoption stage. Therefore, the key task for CATALYST was to develop easy to operate solutions for retailers and consumers and back these up with awareness and trial generation opportunities supported by extensive handholding. Thus, emerged the following DFC levers for retailers and consumers.</div>\r\n</div>\r\n[/vc_column_text][vc_custom_heading text=\"Awareness stage\" font_container=\"tag:h4|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 letter_spacing=\"\"]\r\n<div>\r\n<div>We created collaterals for our field team that could be used to educate the retailers about the key benefits of digital payments platform, i.e., direct bank-to-bank transfer, hassle-free accounting, convenience. We also created collaterals for the end-consumers to educate them about the presence of digital payment options at the dairy and the key value of ‘no hassle of loose change for every transaction’. We tried to create an aspirational image around digital transactions for both retailers and consumers through our collaterals. These customer facing posters, in vernacular text, were put up at visible spots at the dairy booths to inform consumers about the provision and benefits of digital payment services.</div>\r\n</div>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div>\r\n<div>For the retailers, we had also formed WhatsApp groups to create a buzz and for them to discuss their experience with digital payments. We also shared our IVRS number with all to empower them with knowledge on various solutions, as and when they need it.</div>\r\n</div>\r\n[/vc_column_text][kleo_gap][vc_custom_heading text=\"Awareness stage\" font_container=\"tag:h4|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 letter_spacing=\"\"]To identify which payment solution works best for merchants and end-consumers, we experimented with different solutions at different booths – while some retailers were offered QR scan solutions, some could go for khaata (maintain digital accounts) solutions while others were asked to try biometric solutions.\r\n\r\nAlongside the provision of solutions and the awareness collaterals, we deployed our field team for interpersonal communication with retailers and consumers. They gave a demonstration to merchants on application downloading, account-setting, pin setting and on how to handhold the consumers.\r\n\r\nThe implementation of nudges and solutions is being followed up by rigorous monitoring and field visits so that we can learn from different experiments and levers used.[/vc_column_text][kleo_gap][vc_single_image image=\"40271\"][kleo_gap][vc_custom_heading text=\"Learnings\" font_container=\"tag:h4|font_size:26px|text_align:left|color:%23da4a62|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic\" letter_spacing=\"\"][vc_column_text letter_spacing=\"\"]\r\n<ul style=\"list-style: disc;\">\r\n 	<li>Printed collaterals were provisioned at dairy retail outlets guiding customers to make digital payments, but it was noticed that customers do not spend a lot of time at the dairy booth and make quick transactions. This leaves very little room for deliberation on the payment method. Even among digital payment options, customers prefer to pay with mobile wallets because of their familiarity with them.</li>\r\n 	<li>Even after the campaign information was provided through consumer handholding, we saw 86 percent selecting cash payment over digital payments. The primary reason for the choice of cash was the small value of transaction. One-third said they had already got cash for the transaction, 30 percent said they were not interested in digital payments in general, and 43 percent respondents said they might consider digital payments for dairy transactions in the future.</li>\r\n 	<li>Though about 70 percent respondents had a smartphone and two-third of those were using internet on it, UPI still lagged mobile wallets and debit cards in terms of popularity. Similarly, almost all respondents had Aadhaar cards (99 percent) and four of five even reported it being linked to their bank account, yet we saw teething problems of operational hurdles (OTP, fingerprint, Aadhaar number) and trust factor deter usage of Aadhaar linked payments.</li>\r\n 	<li>The majority said they were motivated by cash backs and rewards to use digital payments, with only one-third reported continuing with digital payments.</li>\r\n</ul>\r\nAs for the WhatsApp group created with 20 dairy retailers, it did not seem to have the expected traction as a platform for peer-to-peer learning. We nudged group members with relevant information on digital payments. The uptake on the WhatsApp group was not very encouraging as most of the merchants remained inactive. They showed low interest in digital payments and did not feel the need to learn as most transactions at their dairy booths are still being made in cash.[/vc_column_text][/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][kleo_gap][vc_row_inner][vc_column_inner][vc_custom_heading text=\"EMITRA\" 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][kleo_gap][/vc_column][/vc_row][vc_row][vc_column][vc_column_text letter_spacing=\"\"]The eMitra entrepreneur’s account with the government acts as a prepaid account, with the amount in it reducing after every cash transaction made by the customer. The average transaction value varies from INR 300 to INR 2,000 for eMitra centers and the customer pays a fee for all the eMitra services except utility bill payments which constitute about 50-75 percent of the total transactions. Given that 98 percent of these transactions are made in cash at the eMitra centers, maintaining the balance in the account is critical for the entrepreneurs to do business.\r\n\r\n<strong>Now, if a customer is encouraged to pay digitally, the amount will get credited directly into the government’s account and the eMitra need not require a balance in the prepaid account. However, when we were exploring the eMitra use case, we noticed numerous challenges:</strong>\r\n<ul style=\"list-style: disc;\">\r\n 	<li>While the Government of Rajasthan had rolled out the eMitra web portal to encourage digital payments, the Merchant Discount Rate (MDR) charges that were being passed on to the customers acted like a disincentive for them;</li>\r\n 	<li>The eMitra model of requiring entrepreneurs to deposit money upfront reduced the risk for the government and enabled digital payments from the entrepreneur to the government but it also created the burden of working capital for the entrepreneur; and</li>\r\n 	<li>The eMitra centers with high rate of transactions could be losing business due to the time taken to digitize cash revenue so they could fill up their prepaid account for the next month.</li>\r\n 	<li>Once we identified these challenges, we realized that creating an enabling environment for customers to pay digitally for the eMitra services could resolve all these challenges.</li>\r\n 	<li>We first undertook research to understand the stages of adoption across eMitra entrepreneurs and the triggers and barriers at each stage. Our communication solutions had to address these barriers and use the value propositions that resonated with the early adopters. We conducted interactions with a diverse set of entrepreneurs who we identified based on their digital payment behavior and payments history (volume and value). Based on the interviews, we identified the triggers and barriers (Table 5) along their user journeys to adopt digital payments.</li>\r\n</ul>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div style=\"text-align: center;\">Table 5: Triggers and barriers in digital payment solutions’ adoption for eMitra</div>\r\n<div style=\"text-align: center;\">entrepreneurs</div>\r\n[/vc_column_text][vc_column_text]\r\n<table>\r\n<tbody>\r\n<tr>\r\n<th>Stages of adoption</th>\r\n<th>Triggers</th>\r\n<th>Barriers</th>\r\n</tr>\r\n<tr>\r\n<td>Adoption</td>\r\n<td>\r\n<ul>\r\n 	<li>Reduction in trips to the bank for eMitra entrepreneurs to deposit money</li>\r\n 	<li>Many eMitra entrepreneurs felt that digital payment solutions are inevitable, and they need to move with the times by adopting them and advocating these to their consumers</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>Not applicable for entrepreneurs s as UPI is already integrated into the platform but the barriers were in advocating digital payments to their end-consumers. These were:</li>\r\n 	<li>non-linkage of bank account and mobile numberThere were extra MDRs on transactions for end-customers which was a disincentive for them</li>\r\n 	<li>many customers had trust issues with UPI</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n<tr>\r\n<td class=\"red\">Sustained usage</td>\r\n<td>\r\n<ul>\r\n 	<li>Reduction in the number of trips to the bank for eMitra entrepreneurs to deposit money</li>\r\n 	<li>Zero cost of operating any digital payment method</li>\r\n</ul>\r\n</td>\r\n<td>\r\n<ul>\r\n 	<li>Lack of customers’ interest to pay digitally (UPI) as there was no clear incentive to change a sticky behavior</li>\r\n 	<li>Transaction failures which are either bank related or e-Mitra portal related (PoS device)</li>\r\n</ul>\r\n</td>\r\n</tr>\r\n</tbody>\r\n</table>\r\n[/vc_column_text][vc_column_text letter_spacing=\"\"]\r\n<div>Based on the above, we devised DFC nudges to enhance the digital financial capability of the eMitraentrepreneurs and their end-consumers:</div>\r\n[/vc_column_text][vc_custom_heading text=\"Merchant handholding and IVRS\" font_container=\"tag:h4|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 letter_spacing=\"\"]\r\n<div>The CATALYST field team spent some time at each eMitra center to assist entrepreneurs with the initial few transactions, to ensure he/she was comfortable in using the solution. Given that UPI was integrated in the eMitra panel by the Department of Information Technology &amp; Communication (DoITC), Government of Rajasthan and PoS machines were provided, entrepreneurs were aware about the solution. The objective primarily was to handhold the entrepreneur and ensure he understands the solution and advocates it to end-consumers too. During this time, the CATALYST team qualitatively observed the eMitra entrepreneurs and their approach to promotion of digital payments to their end-consumers. We tried to learn from the entrepreneurs and their customers about their experience of using digital payments, their perceptions of the benefits, their key concerns and the impact that digital payments can have on their lives.</div>\r\n<div>\r\n<div>We also familiarized all the eMitra entrepreneurs with our IVRS numbers so that they could call in and educate themselves on various digital payment solutions as and when they wanted the information.</div>\r\n</div>\r\n[/vc_column_text][kleo_gap][vc_custom_heading text=\"Customer handholding\" font_container=\"tag:h4|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 letter_spacing=\"\"]\r\n<div>We created collaterals to promote digital payments to the end-consumers of eMitra centers. These highlighted the key value propositions that digital payments offered to the segment and talked about the incentives. The handholding exercise was also undertaken to inform customers, assist with UPI onboarding and observe the behavior of consumers and merchants.</div>\r\n[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/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/DFC-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_column][/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_1549444858692{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"][footer_copy][/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"][email-newsletter-plugin][/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][vc_row][vc_column][/vc_column][/vc_row]', 'Using behavioral insights to improve digital financial capability of customers', '', 'publish', 'closed', 'closed', '', 'using-behavioral-insights-improve-digital-financial-capability-customers', '', '', '2019-02-06 09:21:05', '2019-02-06 09:21:05', '', 0, 'https://cashlesscatalyst.org/?page_id=40127', 0, 'page', '', 0);
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(25646, 12, '2018-08-30 10:15:09', '2018-08-30 10:15:09', '', 'emitras', '', 'inherit', 'closed', 'closed', '', 'emitras', '', '', '2018-08-30 10:15:34', '2018-08-30 10:15:34', '', 0, 'http://cashlesscatalyst.org/wp-content/uploads/2018/08/emitras.jpg', 0, 'attachment', 'image/jpeg', 0),
(26202, 12, '2018-09-19 12:14:16', '2018-09-19 12:14:16', '[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=\"22795\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner width=\"2/3\"][vc_custom_heading text=\"LEVERAGING GST FOR DIGITAL PAYMENTS\" font_container=\"tag:h2|font_size:48px|text_align:center|color:%23ffffff|line_height:54px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"140px\"][kleo_gap size=\"50px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1488531456733{padding-right: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1488531444909{padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"http://cashlesscatalyst.org/wp-content/uploads/2018/07/BHIM-Learning-Note.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"Introduction\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<strong>A. The MSME Landscape</strong></br>India’s micro, small and medium enterprise sector is a key engine of growth for the economy, with its 45% contribution to industrial output, over 40% share in exports, and employs more than 100 million people – next only to agriculture.1 In spite of these impressive numbers, the overall contribution of the sector to national Gross Domestic Product is not on par with other middle and high-income economies where MSME contribution lies in the 40-80 percent range.2Lack of access to affordable, institutional finance remains one of the biggest hindrances to MSME growth in India – merely 5% of small businesses have access to finance from the banking sector. Informal firms account for nearly 77% of all MSMEs in developing countries, and the credit gaps faced by them are often more pronounced as compared to their formal counterparts.3 An important characteristic of the MSME segment in India is that enterprises operate in a largely cash-based economy and integration of Information and Communications Technology (ICT) into operations and workflows is limited\r\n\r\n</br><strong>B. The GST regime and its Implications for MSMEs</strong></br>In July 2017, the Government of India introduced a new indirect tax regime of the Goods and Services Tax that replaced the erstwhile regime of multiple, cascading indirect taxes which included central excise\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530610399307{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]duty, service tax, additional customs duty, surcharges, state level VAT and Octroi. The introduction of GST was envisaged to create a unified national market, to bring in greater transparency in tax levels and to improve tax compliance at reduced cost for taxpayers.\r\n\r\nImplementation of GST has cast a wider tax net than the previous indirect taxation regimes by including more MSMEs in its ambit. The new tax regime, and its pursuant liability thresholds, have significant ramifications for MSMEs. Under the previous tax regime, an enterprise with a turnover of INR 15 million or less was not required to comply with the provisions of the Excise Law. The current tax regime lowers this threshold to INR 2 million. Consequentially, more merchants have been included in the tax net and an increasingly higher number among them are liable to pay the tax, and consequently bear the compliance costs.\r\n\r\nWhile the intent of the indirect tax reform has been lauded by industry, concerns have also been raised regarding its disruptive impact on the MSME segment, coming at the heels of demonetisation in 2016.5 After a year of GST implementation, small enterprises are still grappling with issues related to the input tax credit system, frequent change in rules and the steep penalty for late filing. For the purposes of this paper, we limit ourselves to the implications of GST on ease of doing business and tax compliance and related aspects for small businesses.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text letter_spacing=\"\"]1 - Annual Report, 2017-18, Ministry of MSME, https://msme.gov.in/sites/default/files/MSME-AR-2017-18-Eng.pdf\r\n\r\n2 - The new wave Indian MSME: An action agenda for growth, KPMG and Confederation of Indian Industry, March 2016. Available at: https://assets.kpmg.com/\r\ncontent/dam/kpmg/pdf/2016/03/The-new-wave-Indian-MSME.pdf\r\n\r\n3 - Micro, Small and Medium Enterprises in India: A research study on needs, gaps and way forward, International Finance Corporation (World Bank Group) and Government of Japan, November 2012. Available at: https://www.ifc.org/wps/wcm/connect/4760ee004ec65f44a165bd45b400a808/MSME+Report-03-01-2013.\r\npdf?MOD=AJPERES\r\n\r\n4 - Overall, only 8% of total personal consumption expenditures and 26% of Micro Small and Medium Enterprises (MSMEs) to supplier payments are estimated as non-cash. Source: India’s Digital Future, Morgan Stanley Research, Oct 2017.\r\n\r\n5 - https://www.business-standard.com/article/economy-policy/one-year-of-gst-compliance-still-a-challenge-for-small-business-owners-118070100625_1.html\r\n\r\n[/vc_column_text][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22797\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\" CATALYST WHOLESALER SURVEY ON GST\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Catalyst conducted a qualitative study6 to understand pain points around GST compliance for large wholesalers. Additionally, the survey tested the hypothesis whether digital payments can be used to create digital records which eases the compliance burden for large merchants. As a part of the study, six wholesalers engaged in sectors including apparel, local brands and electronics, with annual turnovers ranging from INR 20 million to INR 180 million. It\r\nwas observed that traders in the wholesale or B2B segment generally have a large number of employees and therefore handling cash and compliance is a hassle if performed manually. In addition to these costs, the current GST framework created pain points for these wholesalers in terms of increased compliance procedures, updating their existing technology and working capital crunch, among others.\r\n\r\nThe study suggested that the GST filing process can impose significant compliance costs on small businesses. The incremental costs from GST compliance can be broadly classified under the following categories:\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<ul>\r\n<li>Cost of GST compliant systems and softwares e.g.<br />\r\nEnterprise Resource Planning software, invoicing<br />\r\nand billing software, accounting software, etc. –<br />\r\nINR 10,000 p.a.</li>\r\n<li>Personnel costs associated with outsourcing<br />\r\nof compliance mandates to accounting/tax<br />\r\nprofessionals – INR 30,000 p.a.</li>\r\n<li>Training costs associated with building in-house<br />\r\ncapacity to adhere to compliance norms – INR<br />\r\n5,000 p.a.</li>\r\n</ul>\r\n<p>The associated costs, as much as INR 100,000 p.a.\r\nfor some firms, pose a significant hurdle for small\r\nbusinesses that have come under the ambit of\r\nGST Act due to the reduced INR 2 million turnover\r\nthreshold. Given the complexity of GST filing and\r\naudit formats, tax rates and HSN code identification\r\nissues, our target group of small businesses lack\r\nthe in-house capacity to execute these functions\r\ninternally.</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=\"150\" padding_bottom=\"150\" bg_image=\"22798\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"ENABLING SMALL MERCHANTS TO USE UPI\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In October 2017, Catalyst implemented a pilot project to assess the suitability of UPI as a payment solution for small retail merchants and test the role of financial incentives in driving adoption and sustained use. The project tested the suitability of two UPI-enabled applications– NPCI’s BHIM UPI and Flipkart’s PhonePe.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Barkat Nagar in Jaipur was chosen for this survey because it is a major mixed-use market that is surrounded by a dense residential colony. It is frequented by a younger demographic that may be more amenable to digital payments adoption. Moreover, there is a fair penetration of prepaid digital wallets among merchants in the market which indicates a certain level of pre-existing digital payment awareness and familiarity.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The pilot campaign was conducted in partnership with NPCI and PhonePe and they provided the data for transactions on the respective platforms. It comprised of the following phases:\r\n\r\n[/vc_column_text][vc_single_image image=\"22742\" img_size=\"full\" alignment=\"center\"][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"GENERATING AWARENESS AND IDENTIFYING LEADS\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]A 10-day awareness campaign to emphasize the benefits and ease of using QR-based digital payments was conducted in the market cluster using a combination of feet-on-street activities and kiosks that were set up in various locations inside the market, with support from the local market association. Learnings from a prior experiment conducted by Catalyst in the same market suggest that door-to-door marketing campaigns and kiosks across prominent locations in the market prove successful in garnering merchant interest. Moreover, proprietors of small retail businesses are typically strapped for time and manpower, and may find it challenging to step away from the store to participate in awareness campaigns. Drawing on this insight, multiple touch points were used to reach out to small merchants and consumers in the market and its vicinity, with the assumption that these activities would create awareness among a critical mass of people and spur two-sided network effects of payments.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530618633117{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Nearly 40,000 flyers were circulated in Barkat Nagar through newspapers, an additional 15,000 flyers were distributed through kiosks in the market, and 5,000 flyers were distributed by merchants to their customers. To improve the effectiveness of the awareness campaign, the information was packaged and delivered through collaterals in the local language. It consisted of information on steps to use the QR code to make payments, details about the incentive schemes for merchants and consumers (Table 1) and list of shops that would accept payments through the UPI QR code.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner width=\"2/3\"][vc_single_image image=\"22745\" img_size=\"large\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_custom_heading text=\"HANDHOLDING THROUGH ONBOARDING AND ASSISTED USE\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Since the BHIM application and the UPI-based technologies were relatively new in the market at the time, handholding merchants through the onboarding process and assisting them to try the solution at no-cost/ risks formed a key part of the campaign. Merchants who expressed interest in adopting the solution during the outreach campaign were assisted with the onboarding process on BHIM, generation of QR and printouts of QR code stickers. They were also given detailed information regarding the incentive schemes for them as well as consumers and provided with collaterals illustrating steps to pay via QR code.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"ONGOING MONITORING OF USE, NUDGES AND AWARD OF INCENTIVES\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Since mid-October 2017, month on month data on transactions conducted via BHIM UPI has been tracked for the sample of adopters (69).\r\n\r\nData from NPCI suggests that while UPI transactions in India have seen a consistent rise in volume and value in 2017-18, BHIM’s share in UPI transactions has not seen a concomitant increase. Transaction data shared by NPCI for merchants in our sample for November 2017-February 2018 also suggests that while there was significant interest in adoption at the time of the outreach campaign, it did not translate into high adoption rates and sustained use on a month on month basis. On an average, only 14 out of the 69 merchants (about 20%) of BHIM adopters were using it actively. (A merchant was classified as an active user if he/she had conducted more than five digital transactions for at least two of the four months.)[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530690741893{margin-top: -32px !important;}\"][vc_single_image image=\"22752\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_custom_heading text=\"FEEDBACK EXERCISE\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Feedback from merchants in the first month of the campaign suggested that the minimum threshold of 30 transactions in a month, and 20 unique transactions to avail the financial incentives was relatively high. The initial design of the incentives was modified based on this input - the monthly threshold was reduced to 20 transactions and the criterion of unique transactions was relaxed. Based on usage data for November 2017, the first cohort of winners was awarded the financial incentives at a ceremony conducted in January 2018. To understand the potential factors responsible for the low adoption and usage rates, a follow-up survey was conducted through in-depth interviews with a sample of 25 merchants from those who were targeted as part of the outreach campaign for the intervention. The sample for the follow-up dipstick study included 20 merchants who had adopted BHIM QR and five merchants who did not adopt it, for various reasons. The adopters consisted of a combination of active and inactive users. A merchant was classified as an active user if he/she had conducted more than five digital transactions for at least two months during the study. The 20 adopters consisted of six active users, seven users who reported low to moderate transaction levels, and seven non-users (merchants who were on-boarded to the application but did not undertake any transactions).[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22799\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"KEY INSIGHTS\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"DRIVERS FOR ADOPTION AND USE \" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<strong>i.Seamless transfers between accounts</strong>\r\n\r\nMerchants acknowledge the convenience of account-to-account transfer offered by BHIM as against the manual/ lagged credit of payments to their bank accounts in the case of prepaid wallets. This played an important role in encouraging trial and adoption of BHIM in the pilot. Nearly 50% of BHIM adopters interviewed in the feedback exercise found the account-to-account transfer facility as a defining feature of the application. It is important to note that merchant’s frame of reference for digital payments mainly consisted of prepaid wallets such as Paytm which did not have the UPI functionality at the time. Thus, in relation to e-wallets such as Paytm, BHIM UPI and PhonePe offered a more seamless payment experience.\r\n\r\n<strong>ii.Trust </strong>\r\n\r\nThe perception of trust associated with an application endorsed by the Government of India, coupled with the nationwide marketing campaign at the time of launch were motivating factors for adoption as well.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]This trust may be due to an implicit understanding of it being a “safer” means to pay. 10% of the adopters cited this as a reason for adoption/important feature of BHIM.\r\n\r\n<strong>iii.Handholding to on-board </strong>\r\n\r\nFeedback from merchants suggests that the extensive handholding and assistance in carrying out actual transactions played an important role in encouraging them to try the technology. More than 30% of the adopters alluded to this in the survey. While such go-to-market models may be difficult to scale across markets, it is important to acknowledge the need to support assisted use of new technologies and solutions among users who are in the early stages of digital payments use and adoption.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"BARRIERS TO ADOPTION AND SUSTAINED USE\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Low merchant acceptance of digital payments remains a barrier to widespread adoption of digital payments at the last-mile – nearly 40 million merchants still do not accept any form of digital payments. In our study as well, while merchants exhibited a fair level of awareness and familiarity with digital payment solutions, their share in overall transaction values is not significant. Our study suggests that merchant adoption is motivated by a combination of factors which include reducing on-boarding frictions, incentives such as cashbacks and rewards, and preferences of transacting counterparties such as customers and suppliers. The qualitative survey conducted as part of the project suggests that the following barriers may have played an important role in influencing merchant’s adoption and subsequent use of BHIM:\r\n\r\n<strong>i.On-boarding frictions</strong>\r\n\r\nThere were some bottlenecks in signing up on the BHIM application, such as:\r\n<ul>\r\n	<li>After linking the bank accounts with the application, it asks the user to set a UPI PIN. For that the user is required to put in the last 6 digits of the debit card and the expiry date. Because of this, some merchants who did not have a debit card linked to their current accounts could not on-board on BHIM as they did not want to link their savings account to BHIM.</li>\r\n	<li>Some merchants also encountered issues in the process of getting the OTP to register on the application.</li>\r\n</ul>\r\n&nbsp;\r\n\r\n<strong>ii.Stickiness of cash in merchant ecosystem</strong>\r\n\r\nAlthough merchants were using apps like Paytm and BHIM for business purposes, the total value of such transactions did not account for a significant proportion of their business operations. Almost 30% of the 25 merchants interviewed revealed that majority of their transactions were in cash, primary reasons being that customers prefer cash and suppliers also had to be paid in cash. The stickiness of cash is also reflected in a study that Catalyst conducted in collaboration with PRICE. In the study, 55% of the non-adopters of digital payments cited lack of customer demand as one of the primary reasons for non-adoption.\r\n\r\n&nbsp;\r\n\r\n<strong>iii.Weak Incentive Design </strong>\r\n\r\nFinancial incentives such as cashbacks/referral bonuses offered by other applications (like Paytm) in the market were seen as more lucrative by merchants and customers as compared to the incentives on BHIM, as at the time of the study, incentives on BHIM were significantly lower than other applications. The process for availing rewards/cashbacks from referrals is fairly simple in these applications as well. Moreover, they offer customers the flexibility to use the cashbacks and rewards in multiple ways such as utility bill payments, in-app purchase of goods and services or payments at locations like petrol pumps and movie theatres. Additionally, they offer rewards on mobile recharges, bill payments among other payment use-cases.\r\n\r\nThe drawback in the initial incentive scheme has been addressed to an extent with NPCI’s announcement of a revised scheme of incentives for on-boarding and use, in April 2018. This includes a cashback of INR 51 for customers successfully completing their first financial transaction, cashbacks of upto INR 750 for users registered as customers, and cashbacks of upto INR 1,000 for users registered as merchants linked with minimum transaction values and volumes.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]<strong>iv. Low awareness and demand for BHIM in merchant ecosystem </strong>\r\n\r\nMerchants also reported lack of awareness among customers and subsequent demand from them to pay via BHIM as an important reason for the low use of BHIM. While the revised incentive schemes for BHIM referrals and cash back mentioned above could give a fillip to transactions, low awareness and adoption among customers remain a barrier to sustained use by merchants.\r\n\r\nThe low demand for BHIM in relation to payment solutions such as e-wallets and other UPI applications may be a function of the first mover advantage that incumbent service providers enjoy in the market. Being early in the market has allowed private payment service providers to establish a wide network of merchants and customers and facilitate easy recall value, which are important determinants of success in a two-sided market like payments. Moreover, entities such as Paytm have invested heavily in online and offline marketing campaigns, which has strengthened brand recall among customers as well as merchants.\r\n\r\n<strong>v. Limited Use Cases </strong>\r\n\r\nThe limited range of use cases of the BHIM application at the time of its launch, as compared to other digital payment offerings in the market is also an influencing factor. Given the competition in the payments ecosystem, providing differentiated features is important for payment service providers to incentivise users to choose one solution over another.\r\n\r\nOur study also reveals that users value such product differentiation significantly. Illustratively, PhonePe and Paytm both have a PPI license and on the one hand allow account-to-account transfer through UPI and on the other, allow the customer to use the PPI balance for making in-app purchases of goods and services from the merchants on-boarded on the platform. Additionally, they provide options to make bill payments and mobile recharges, among other facilities. Until recently, BHIM was primarily a conduit for account-to-account transfer and has been upgraded to include a bill payments feature as well.[/vc_column_text][vc_single_image image=\"22744\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22800\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"RE-IMAGINING BHIM\r\n\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In a move to spur greater adoption of UPI and facilitate recall value among users, all bank-led UPI applications in the market have been rebranded with the prefix ‘BHIM UPI’.15 This implies a change in nomenclature at the front-end of these applications (e.g. BHIM SBI Pay/BHIM Axis Pay), while they continue to operate on the UPI interface. Thus, on one hand, the BHIM application is a platform that enables merchants and customers to make UPI-based payments, and on the other hand, it has been positioned as a larger entity which is synonymous with the UPI interface.\r\n\r\nIn light of these developments in the larger BHIM/UPI ecosystem, and the demand-side constraints in scaling the BHIM application articulated above16, there is a strong case for reimagining BHIM as an ecosystem enabler – beyond its role as a payments application.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]This proposition is based on a combination of factors which suggest that BHIM is uniquely placed to play such a role in the ecosystem. These include the large volumes of transactional data available on the platform which can be opened up to further innovation through secure APIs, promoter NPCI’s organic linkages with banks and complementarities of value added services with payments. We make a case for two ways in which the BHIM ecosystem can be creatively reimagined below.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"BHIM AS AN AGGREGATOR OF FINANCIAL SERVICES\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Presently, 92 banks are live on BHIM and it has recorded 58.16 million transactions in 2018. Further, the BHIM mobile application has been downloaded on 28.9 million devices, meaning that it contains data about consumer and merchant transactions. This data can be accessed by developers (in compliance with best practices to safeguard users’ data privacy), financial services providers and other Fintech companies for building “Over the Top” applications and complimentary products that may be offered within the BHIM app interface. Enabling secure access to data aggregated on BHIM can facilitate innovation by financial institutions, Fintech companies and other stakeholders who can utilise this information to develop customised financial service products.\r\n\r\nThis kind of integration, with BHIM acting as an aggregator for merchant-centric products, can play a role in bridging the credit gaps for the MSME segment. Another potential use-case is for the BHIM app to offer an insurance products marketplace and facilitate access to insurance products to merchants that operate these small businesses.\r\n\r\nUnder the extant regulatory framework, offering insurance aggregator services requires an entity to be licensed by the IRDA. Symmetrically, offering financial products like Mutual Funds requires the entity to retain a distributor license from SEBI. Since NPCI, the promoter and operator of BHIM, is a Section 8 Company incorporated with the objective to set up and implement retail payment systems in the country, the aforementioned proposal will require regulatory concessions from the relevant regulators.\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Given the socially beneficial impact of reorienting BHIM as an online marketplace for complimentary financial products, there is a compelling case for the NPCI to partner with the Ministry of Electronics and Information Technology and the Ministry of Finance to work with the concerned regulators to obtain these regulatory concessions. NPCI’s role as the umbrella retail payments organization in India and the fact that it is already a regulated entity under the Reserve Bank of India’s jurisdiction bolsters the case.\r\n\r\nThe potential illustrative workflow of such an offering is:\r\n<ol>\r\n	<li>In addition to the ‘Send’, ‘Request’ and ‘Scan and Pay’ option, the application Home Page offers a section titled ‘Other Services’</li>\r\n	<li>Contained within ‘Other Services’ is a “catalog” that offers a host of financial products and services including credit, insurance (even potentially mutual funds).</li>\r\n	<li>Here the merchant can view, and compare, the products offered by banks, insurance companies and AMCs</li>\r\n	<li>The merchant can then click through to initiate the purchase of the product/service.</li>\r\n</ol>\r\nPolicy related to small business credit could be amended to create high powered incentives for banks to originate credit from leads generated on the BHIM application. Though these high powered incentives could be delivered through several channels, we suggest a ranking system monitored by a government think-tank like Niti Aayog linked to the volume of credit that banks originate through the leads generated on BHIM.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1530619463277{padding-top: 50px !important;padding-bottom: 50px !important;}\"][vc_column_inner][kleo_divider][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"MERCHANT SOLUTIONS ON BHIM\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]In addition to efforts to popularise BHIM among merchants using cashback schemes, providing value-added services such as a ‘khaata’ feature can enhance its utility to merchants. A ‘khaata’, colloquially, is a ledger kept by businesses to record sale and purchase transactions. With BHIM increasing the convenience in collecting payments for merchants, additional value can be unlocked by incorporating a dashboard for a ‘digital khaata’ in the platform. A “digital khaata” would record the business transactions paid through BHIM as “sales” and “purchase”. This would entail easy reconciliation and more efficient management of business operations. For instance, it may allow merchants to track supplier payments and send payment requests, and get paid seamlessly through the app. This khaata may also be used to undertake customer analytics for the merchants to generate insights on what could drive business for them. Illustratively, insights on sales trends can help the merchant design better sales strategies and map loyal customers. Conversely, purchase trends may yield data which aids the merchants in better inventory management.[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\" css=\".vc_custom_1530620238439{padding-top: 50px !important;}\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]BHIM can also be repurposed as a platform for business to business interaction. Illustratively, a merchant may design and market customised, time bound offerings for its clients via BHIM. Doing this would significantly expedite business communication and allow merchants to instantly accept and pay for such offers.\r\n\r\nA potential target group for the testing of such a solution can be found in India’s vast network of small retail businesses. These businesses enjoy a regular local clientele from neighbouring residential and commercial areas and maintain physical registers. The analytics component of this digital khaata solution can help these small businesses design customer loyalty programs, and keep track of bills and payments due to distributors.\r\n\r\nIt is of importance to acknowledge that this solution may only be applicable to businesses which may not find it feasible to invest in ERP solutions to manage their business operations.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"150\" padding_bottom=\"150\" bg_image=\"22987\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"TOWARDS AN ECOSYSTEM APPROACH\r\n\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]Insights from Catalyst’s small merchant UPI activation project and feedback from ongoing monitoring and evaluation suggest that providing seamless account-to-account transfers alone may not be enough to incentivise widespread adoption and use of the BHIM app. While the revised scheme of incentives for BHIM use now places it at par with the incentives offered by other players in the space, and selected features such as utility bill payments have been added to the application, it continues to face stiff competition from UPI-enabled applications that offer multiple use cases, enjoy first-mover advantage and a strong brand recall. Strategies to promote further adoption and use of the BHIM application need to weigh potential gains in relation to these factors. The focus must instead shift on leveraging the application to test scalable use cases that can spur widespread adoption by merchant and consumers, and create an enabling ecosystem for service providers to innovate.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">TECHNICAL WRITERS:</span> Mandar Kagade, Janak Priyani, Diksha Singh and Raghav Katyal.</p>\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">ACKNOWLEDGEMENTS:</span>The authors would like to thank Kanika Joshi, Darshan Singh and Anil Kumar Pandey for their support in data collection and analysis.</p>\r\n\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"http://cashlesscatalyst.org/wp-content/uploads/2018/07/BHIM-Learning-Note.pdf\" target=\"_blank\" position=\"center\" size=\"lg\" type=\"boxed-icon\" special=\"no\" icon=\"download\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pkirbtn\" icon_custom_background=\"#d11e3c\" icon_custom_text=\"#ffffff\"][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" padding_top=\"50px\" padding_bottom=\"50px\" bg_image=\"7886\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_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]', 'LEVERAGING GST FOR DIGITAL PAYMENTS', '', 'private', 'closed', 'closed', '', 'leveraging-gst-digital-payments', '', '', '2018-09-19 12:45:14', '2018-09-19 12:45:14', '', 0, 'https://cashlesscatalyst.org/?page_id=26202', 0, 'page', '', 0),
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(25747, 12, '2018-09-07 10:30:19', '2018-09-07 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=\"FINTECH FOR THE LAST MILE INCUBATOR \" 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_1536230744513{background-color: #4e4e4e !important;}\" el_class=\"ptl-title\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fincubator%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_1536244614765{padding-right: 2% !important;padding-bottom: 2% !important;padding-left: 2% !important;}\"]<p><a href=\"https://cashlesscatalyst.org/incubator/\">To address gaps between existing products and unserved segments, Catalyst launches the \'first of its kind\' incubator to promote innovative and scalable fintech solutions that address the needs of traditionally underserved users. It on-boards five exciting companies targeting varied user segments, employing different strategies, and leveraging different digital technologies.</a></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]', 'Fintech for the Last Mile Incubator', '', 'publish', 'closed', 'closed', '', 'fintech-last-mile-incubator', '', '', '2018-09-12 06:08:44', '2018-09-12 06:08:44', '', 0, 'https://cashlesscatalyst.org/?post_type=te_announcements&#038;p=25747', 0, 'te_announcements', '', 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
(25749, 12, '2018-09-06 10:30:47', '2018-09-06 10:30:47', '[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=\"MAPPING THE MERCHANT\'S MIND\" 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_1536230653063{background-color: #4e4e4e !important;}\" el_class=\"ptl-title\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2018%2F05%2Fprice_report-web.pdf|||\"][/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_1536244791614{padding-right: 2% !important;padding-bottom: 2% !important;padding-left: 2% !important;}\"]<p><a href=\"http://cashlesscatalyst.org/wp-content/uploads/2018/05/price_report-web.pdf\">In partnership with People Research on India\'s Consumer Economy, Catalyst publishes novel research on digital payments use, behaviors, and perceptions across different urban micro-merchant segments, including fixed store merchants, home-based businesses, individual service providers, and street & roving vendors.  </a></p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]', 'Mapping the Merchant\'s Mind', '', 'publish', 'closed', 'closed', '', 'mapping-merchants-mind', '', '', '2018-09-12 06:09:59', '2018-09-12 06:09:59', '', 0, 'https://cashlesscatalyst.org/?post_type=te_announcements&#038;p=25749', 0, 'te_announcements', '', 0),
(25750, 12, '2018-09-06 10:30:01', '2018-09-06 10:30:01', '[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=\"REGULATORY SANDBOX\" 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=\"\" el_class=\"ptl-title\" css=\".vc_custom_1536230540863{background-color: #4e4e4e !important;}\"][/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_1536244672373{padding-right: 2% !important;padding-bottom: 2% !important;padding-left: 2% !important;}\"]<p>Building further on its support to Watal Committee, Catalyst engages with its partner ecosystem to distill a set of case studies that address specific regulatory impediments that are holding back business model innovation in mass fintech applications. Report forthcoming.</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]', 'Regulatory Sandbox', '', 'publish', 'closed', 'closed', '', 'regulatory-sandbox', '', '', '2018-09-12 06:10:46', '2018-09-12 06:10:46', '', 0, 'https://cashlesscatalyst.org/?post_type=te_announcements&#038;p=25750', 0, 'te_announcements', '', 0),
(25763, 12, '2018-09-06 13:11:49', '2018-09-06 13:11:49', '', 'incubator', '', 'inherit', 'closed', 'closed', '', 'incubator-4', '', '', '2018-09-06 13:11:49', '2018-09-06 13:11:49', '', 25757, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/incubator.jpg', 0, 'attachment', 'image/jpeg', 0),
(25764, 12, '2018-09-06 13:16:06', '2018-09-06 13:16:06', '', 'incubator', '', 'inherit', 'closed', 'closed', '', 'incubator-5', '', '', '2018-09-06 13:16:06', '2018-09-06 13:16:06', '', 25757, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/incubator-1.jpg', 0, 'attachment', 'image/jpeg', 0),
(41133, 0, '2019-04-07 17:54:03', '2019-04-07 17:54:03', '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: Richardlag (IP: 5.8.47.2, 5.8.47.2)\r\nEmail: aaron.addington.84@mail.ru\r\nURL: https://entali.com/\r\nComment: \r\n<a href=\"https://entali.com/\" rel=\"nofollow\">Company Formations </a> - Buy IBC Seychelles, Order Company\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12106#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12106#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12106#wpbody-content\r\nCurrently 167 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', '', '', '2019-04-07 17:54:03', '2019-04-07 17:54:03', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in/', 0, 'postman_sent_mail', '', 0),
(41139, 0, '2019-04-07 21:11:25', '2019-04-07 21:11:25', 'A new comment on the post \"Latest news slider\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/latest-news-slider/\r\n\r\nAuthor: Www.yaleclubbeijing.org (IP: 45.61.164.35, 45.61.164.35)\r\nEmail: jeff.reiniger@yahoo.de\r\nURL: http://www.yaleclubbeijing.org/the-10-best-pdf-to-word-converter-paid-free/\r\nComment: \r\nIt works very well for me\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12109#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12109#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12109#wpbody-content\r\nCurrently 170 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: \"Latest news slider\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-latest-news-slider', '', '', '2019-04-07 21:11:25', '2019-04-07 21:11:25', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-latest-news-slider/', 0, 'postman_sent_mail', '', 0),
(31368, 12, '2018-10-09 07:11:14', '2018-10-09 07:11:14', '', 'dairy', '', 'inherit', 'closed', 'closed', '', 'dairy-3', '', '', '2018-10-09 07:11:14', '2018-10-09 07:11:14', '', 12173, 'https://cashlesscatalyst.org/wp-content/uploads/2018/02/dairy.jpg', 0, 'attachment', 'image/jpeg', 0),
(25781, 12, '2018-09-07 07:00:37', '2018-09-07 07:00:37', '', 'adoption', '', 'inherit', 'closed', 'closed', '', 'adoption-2', '', '', '2018-09-07 07:00:37', '2018-09-07 07:00:37', '', 25778, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/adoption.png', 0, 'attachment', 'image/png', 0),
(25782, 12, '2018-09-07 07:00:41', '2018-09-07 07:00:41', '', 'buyers', '', 'inherit', 'closed', 'closed', '', 'buyers', '', '', '2018-09-07 07:00:41', '2018-09-07 07:00:41', '', 25778, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/buyers.png', 0, 'attachment', 'image/png', 0),
(25783, 12, '2018-09-07 07:00:46', '2018-09-07 07:00:46', '', 'digital', '', 'inherit', 'closed', 'closed', '', 'digital-5', '', '', '2018-09-07 07:00:46', '2018-09-07 07:00:46', '', 25778, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/digital.png', 0, 'attachment', 'image/png', 0),
(25784, 12, '2018-09-07 07:00:54', '2018-09-07 07:00:54', '', 'digitally', '', 'inherit', 'closed', 'closed', '', 'digitally', '', '', '2018-09-07 07:00:54', '2018-09-07 07:00:54', '', 25778, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/digitally.png', 0, 'attachment', 'image/png', 0),
(25786, 12, '2018-09-07 07:19:37', '2018-09-07 07:19:37', '', 'inner-banner-1', '', 'inherit', 'closed', 'closed', '', 'inner-banner-1', '', '', '2018-09-07 07:19:37', '2018-09-07 07:19:37', '', 25778, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/inner-banner-1.jpg', 0, 'attachment', 'image/jpeg', 0),
(25787, 12, '2018-09-07 07:19:47', '2018-09-07 07:19:47', '', 'inner-banner-2', '', 'inherit', 'closed', 'closed', '', 'inner-banner-2-3', '', '', '2018-09-07 07:19:47', '2018-09-07 07:19:47', '', 25778, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/inner-banner-2.jpg', 0, 'attachment', 'image/jpeg', 0),
(25788, 12, '2018-09-07 07:20:56', '2018-09-07 07:20:56', '', 'inner-banner-2', '', 'inherit', 'closed', 'closed', '', 'inner-banner-2-4', '', '', '2018-09-07 07:20:56', '2018-09-07 07:20:56', '', 25778, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/inner-banner-2-1.jpg', 0, 'attachment', 'image/jpeg', 0),
(25789, 12, '2018-09-07 07:21:09', '2018-09-07 07:21:09', '', 'inner-banner-1', '', 'inherit', 'closed', 'closed', '', 'inner-banner-1-2', '', '', '2018-09-07 07:21:09', '2018-09-07 07:21:09', '', 25778, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/inner-banner-1-1.jpg', 0, 'attachment', 'image/jpeg', 0),
(25790, 12, '2018-09-07 08:10:24', '2018-09-07 08:10:24', '', 'bnner', '', 'inherit', 'closed', 'closed', '', 'bnner-7', '', '', '2018-09-07 08:10:24', '2018-09-07 08:10:24', '', 25778, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/bnner.jpg', 0, 'attachment', 'image/jpeg', 0),
(25792, 12, '2018-09-07 08:23:44', '2018-09-07 08:23:44', '', 'digital_financial_inclusion_of_women', '', 'inherit', 'closed', 'closed', '', 'digital_financial_inclusion_of_women', '', '', '2018-09-07 08:23:44', '2018-09-07 08:23:44', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/digital_financial_inclusion_of_women.pdf', 0, 'attachment', 'application/pdf', 0),
(25794, 12, '2018-09-07 09:09:52', '2018-09-07 09:09:52', '[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=\"25804\"][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;\">ENROUTE LAKSHYA - POWER OF SAVINGS TO MEET UNENDING POSSIBILITIES</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/lakshaya_kaledofin-2.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=\"25802\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1536311248217{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=\"\"]The narrow streets on our way to Amna’s house are full of life in the disorganized neighbourhood of Bandha Basti, a hilly slum cluster in peri-urban Jaipur. Amna, a resident Anganvadi worker, has been working since 4 years with a monthly income of Rs. 2000 providing for the six family members with support of her husband.\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=\"25798\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"25800\" alignment=\"center\"][vc_custom_heading text=\"DIVERSIFYING INTO FORMAL SAVINGS IS KEY\" 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_1536309367615{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\n\r\nOn being asked, “How crucial it is for you to save?”, she confidently answers, “If I need to buy something for 2 rupees and have only 1 rupee, I resort to taking a loan. Inability to deal with situations usually arises out of bad financial planning and pushes me to take loans. It is very important for households to have funds in case of similar events. While debt makes me feel helpless, savings empower me and hence it is very important for me to save!”\r\n\r\nWith limitless zeal to save, she leveraged informal sources such as chit funds, and has recently started to save in formal sources. When asked why, she adds “Diversifying savings is helpful. I used to keep money in the house in some boxes and never knew where the money was, since I had no account of it and always ended up spending it. It is for these reasons that, I started saving with Lakshya account<sup>1</sup> to support my family with basic financial capital.”\r\n\r\n<em><sup>1</sup>Lakshya is a curated financial solution for customers who are interested in saving for a minimum of two years. It is specifically designed for households in the informal sector, whose income &amp; expenses are quite volatile, making regular savings challenging. </em>\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=\"25797\"][vc_column][vc_row_inner content_placement=\"middle\"][vc_column_inner][vc_single_image image=\"25801\" alignment=\"center\"][vc_custom_heading text=\"KALEIDOFIN MAKING ODDS MEET THROUGH LAKSHYA\" 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_1536309417199{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\n\r\nMost families struggle with financial instability throughout Bandha Basti. Kaleidofin, in partnership with SEWA Bank, aims to build on virtues of trust and convenience to provide easy to use, flexible, personalised, smart, and efficient solutions that can make financial progress and financial freedom possible for the last mile.\r\n\r\nTo ensure a positive trajectory for first time users of formal savings, the diversity of needs of rural Jaipur needs to be recognized. As part of its Catalyst Incubator Initiative of reaching the last mile, Kaleidofin is enrolling low income communities to start saving in the Lakshya account. Their objective is to empower this community to become more financially stable by focusing on goals-based wealth management.\r\n\r\nAmzad, a 52-year-old seasonal wage worker, aims to save with Lakshya account as this money can help repair his house eventually. Until now, his sources of savings were to create jewellery for family members and using them when required. He believes it is important to save for the future since sickness comes uninvited. “At my age I don’t need any advice. When I heard of Kaliedofin giving a higher interest rate on savings than usual banks and the fact that they would insure my goal, I knew I would adopt for it instantly!” He adds, “Lakshya combines the power of savings to provide a much needed cushion during crisis; further adding a goal protection insurance to safeguard against larger shocks.”\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=\"25799\" alignment=\"center\"][vc_custom_heading text=\"UNDERSTANDING THE NEED TO SAVE IS CRUCIAL \" 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_1536309539200{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=\"\"]It can be undoubtedly said that communities in slums face greater barriers to access financial products than urban communities because of their limited access to infrastructure. This is partially due to the difficulty banks face in the traditionally expensive infrastructure they deploy and the proximity of client to the established branch. It is thus common in these areas that the community places trust with informal sources of savings, such as chit funds due to convenience.\r\n\r\nTo build trust, Mehrunissa, a Sewa Sathi, has conducted several financial literacy camps and has established relationships of trust with the community. She believes that identification of community members who nudge and demonstrate the need of other sources of savings is crucial.\r\n\r\nShe adds, “All individuals get impacted by trainings differently. While, Amna adopted the product for her daughter’s education, Amzad adopted it for his house renovation. Some get attracted as they can save for their child’s marriage and other prepare for unexpected events like illness. I ensure that I go door to door and identify their needs.”\r\n\r\nShe concludes, “With Lakshya, it would be interesting to witness the power of formal savings empowering low income clusters meet their life goals.\"\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/lakshaya_kaledofin-2.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]', 'Enroute Lakshya - Power of savings to meet unending possibilities', '', 'publish', 'closed', 'closed', '', 'enroute-lakshya-power-savings-meet-unending-possibilities', '', '', '2018-11-15 09:49:27', '2018-11-15 09:49:27', '', 0, 'https://cashlesscatalyst.org/?page_id=25794', 0, 'page', '', 0),
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(25869, 12, '2018-09-10 06:06:26', '2018-09-10 06:06:26', '', 'credit-as-a-hook-banner', '', 'inherit', 'closed', 'closed', '', 'credit-as-a-hook-banner', '', '', '2018-09-10 06:06:26', '2018-09-10 06:06:26', '', 12173, 'https://cashlesscatalyst.org/wp-content/uploads/2018/02/credit-as-a-hook-banner.jpg', 0, 'attachment', 'image/jpeg', 0),
(25871, 12, '2018-09-10 08:03:55', '2018-09-10 08:03:55', '[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]\r\n\r\nThe broader include actions and learnings from the use cases across the ecosystems of merchants and consumers - to comprehensively test, iterate and scale interventions that can positively impact user payments behaviour.\r\n\r\n<strong>Creating digital footprints for credit access</strong>\r\n\r\n<img class=\"alignleft size-medium wp-image-25886\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/footprints.jpg\" alt=\"\" width=\"100%\">\r\n\r\nCatalyst with Nupay launched the fixed-store merchant acquisition drive in the Sodala and Shashtri Nagar regions of Jaipur, to advance <div style=\"display:none\"><a href=\"http://tadalafil-20mg.de/sildenafil/kaufen-suhagra-100mg-in-deutschland-online.html\">Kaufen Suhagra 100mg In Deutschland Online</a></div> the acceptance of ï¿½credit as a hookï¿½, for adoption of digital payment solutions. About 60 merchants were approached during the kick-off drive. Capital First, our credit partner is helping with assessing credentials of merchants who are <div style=\"display:none\"><a href=\"http://erektil-dysfunktion-specialist.net/tadalafil/kobe-tadarise-40mg-i-danmark-online.html\">Kobe Tadarise 40mg I Danmark Online</a></div> interested in building their credit history.\r\n\r\nCapital First, our credit partner is helping with assessing credentials of merchants who are interested in building their credit history.\r\n\r\n&nbsp;\r\n\r\n<strong>Customer segmentation study <div style=\"display:none\"><a href=\"http://liefde-goeroe.com/tadalafil/kopen-tadarise-60mg-in-nederland-online.html\">Kopen Tadarise 60mg In Nederland Online</a></div> in Bhatta Basti</strong>\r\n\r\n<img class=\"alignleft size-medium wp-image-25887\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/bhatta_basti.jpg\" alt=\"\" width=\"100%\">\r\n\r\nThe ï¿½Customer Segmentation studyï¿½ helped the Catalystï¿½s low-income cluster team recognize potential early adopters of digital payments from the ultra-poor region of Bhatta Basti, Jaipur. These were those who had opened their bank accounts, generate ATM PIN on their own; and owned a smart phone. With the personal visit and hand-holding support, 50 out of 72 potential adopters were on-boarded to the UPI platform within two weeks.\r\n\r\n&nbsp;\r\n\r\n<strong>Intervention with e-Mitras</strong>\r\n\r\n<img class=\"alignleft size-medium wp-image-25888\" src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/e-mitras-1.jpg\" alt=\"\" width=\"100%\">\r\n\r\nCatalyst launched a campaign to promote the use of UPI as a mode of payment at e-Mitra centres across Jaipur. The team visited about 200 e-Mitras and about 100 of these merchants were further selected for consumer-merchant hand-holding support to assist with transactions.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]', 'Broader Updates', 'The broader include actions and learnings from the use cases across the ecosystems of merchants and consumers - to comprehensively test, iterate and scale interventions that can positively impact user payments behaviour.', 'publish', 'open', 'open', '', 'broader-updates', '', '', '2018-11-15 10:23:18', '2018-11-15 10:23:18', '', 0, 'https://cashlesscatalyst.org/?p=25871', 4, 'post', '', 0),
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(25875, 12, '2018-09-10 08:01:43', '2018-09-10 08:01:43', '', 'e-mitras', '', 'inherit', 'closed', 'closed', '', 'e-mitras', '', '', '2018-09-10 08:02:08', '2018-09-10 08:02:08', '', 25871, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/e-mitras.jpg', 0, 'attachment', 'image/jpeg', 0),
(25877, 12, '2018-09-10 08:05:13', '0000-00-00 00:00:00', '[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text letter_spacing=\"\"]<p><strong>Creating digital footprints for credit access</strong></p>\r\n<p><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/02/credit-as-a-hook-banner.jpg\" alt=\"\" width=\"100%\"  class=\"alignleft size-medium wp-image-25869\" /></p>\r\n<p>Catalyst with Nupay launched the fixed-store merchant acquisition drive in the Sodala and Shashtri Nagar regions of Jaipur to advance the acceptance of ‘credit as a hook’, for adoption of digital payment solutions. About 60 merchants were approached during the kick-off drive. Capital First, our credit partner is helping with assessing credentials of merchants who are interested in building their credit history.</p>\r\n<p>&nbsp;</p>\r\n<p><strong>Customer segmentation study in Bhatta Basti </strong></p>\r\n<p>The \'Customer Segmentation study\' helped the Catalyst\'s low-income cluster team recognize potential early adopters from the ultra-poor region of Bhatta Basti, Jaipur. These were those who had opened their bank account, had created ATM PIN on their own; and owned a smart phone.  With the personal visit and hand holding support, 50 out of 72 potential adopters were on boarded to the UPI platform within two weeks.</p>\r\n<p>&nbsp;</p>\r\n<p><strong>Intervention with e-Mitras</strong></p>\r\n<p><img src=\"https://cashlesscatalyst.org/wp-content/uploads/2018/09/e-mitras.jpg\" alt=\"\" width=\"100%\" class=\"alignleft size-medium wp-image-25875\" /></p>\r\n<p>Catalyst launched a campaign to promote the use of UPI as a mode of payment at e-Mitra centres across Jaipur. The team visited about 200 e-Mitras and about 100 of these were further selected for consumer-merchant hand-holding to assist with transactions</p>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row]', 'Team Update', 'Building upon the foundation of USAID’s “beyond cash” India partnership, Catalyst set its vision to realize an inclusive digital economy that meets the needs of all Indians by demonstrating a replicable, affordable and sustainable approach to adoption and usage of digital payments', 'draft', 'open', 'open', '', '', '', '', '2018-09-10 08:05:13', '0000-00-00 00:00:00', '', 0, 'https://cashlesscatalyst.org/?p=25877', 3, 'post', '', 0),
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(40610, 0, '2019-03-11 10:55:28', '2019-03-11 10:55:28', '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-30', '', '', '2019-03-11 10:55:28', '2019-03-11 10:55:28', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/autoptimize-cache-size-warning-httpscashlesscatalyst-org-30/', 0, 'postman_sent_mail', '', 0),
(41162, 0, '2019-04-09 08:06:04', '2019-04-09 08:06:04', 'A new comment on the post \"Digitizing an urban slum in Jaipur:  Hunting for mobile network to go digital\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/hunting-mobile-network-go-digital/\r\n\r\nAuthor: see here (IP: 23.231.39.192, 23.231.39.192)\r\nEmail: evedarr@freenet.de\r\nURL: https://www.talkhelper.com/7-best-free-pdf-converter-for-windows/\r\nComment: \r\nIt works very well for me\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12121#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12121#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12121#wpbody-content\r\nCurrently 182 comments are waiting for approval. Please visit the moderation panel:\r\nhttps://cashlesscatalyst.org/wp-admin/edit-comments.php?comment_status=moderated#wpbody-content\r\n', '[Catalyst] Please moderate: \"Digitizing an urban slum in Jaipur:  Hunting for mobile network to go digital\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-digitizing-an-urban-slum-in-jaipur-hunting-for-mobile-network-to-go-digital-13', '', '', '2019-04-09 08:06:04', '2019-04-09 08:06:04', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-digitizing-an-urban-slum-in-jaipur-hunting-for-mobile-network-to-go-digital-13/', 0, 'postman_sent_mail', '', 0),
(41161, 0, '2019-04-09 06:10:13', '2019-04-09 06:10:13', 'A new comment on the post \"Partner Update\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/partner-update/\r\n\r\nAuthor: www.strangerthings.Tv (IP: 23.231.39.192, 23.231.39.192)\r\nEmail: tristahorseman@aol.com\r\nURL: https://www.strangerthings.tv/blog/top-screen-recorder-software-for-windows/\r\nComment: \r\nThank you for the excellent post\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12120#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12120#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12120#wpbody-content\r\nCurrently 181 comments are waiting for approval. Please visit the moderation panel:\r\nhttps://cashlesscatalyst.org/wp-admin/edit-comments.php?comment_status=moderated#wpbody-content\r\n', '[Catalyst] Please moderate: \"Partner Update\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-partner-update-5', '', '', '2019-04-09 06:10:13', '2019-04-09 06:10:13', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-partner-update-5/', 0, 'postman_sent_mail', '', 0),
(25993, 12, '2018-09-12 17:23:11', '2018-09-12 17:23:11', '[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=\"26022\"][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;\">EDUCATING THE LOW-INCOME CLUSTERS ABOUT BENEFITS OF ACTIVE BANKING AND DIGITAL PAYMENT SOLUTIONS</h2>\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"130px\"][/vc_column][/vc_row][vc_row type=\"image\" padding_bottom=\"0\" bg_image=\"7841\"][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_video link=\"https://youtu.be/TFXQhNgq1wA\"][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"10\" padding_bottom=\"50\"][vc_column width=\"1/6\"][/vc_column][vc_column width=\"2/3\"][vc_column_text letter_spacing=\"\"]The video highlights the joint work of Catalyst and SEWA Bharat to create a pathway for urban slumdwellers in Bhatta Basti (slum in Jaipur) to adopt digital payment solutions. The video also talks about the efforts put in to promote active banking and generate awareness about benefits of digital payments through digital camps and customer engagement activities.\r\n\r\n[/vc_column_text][/vc_column][vc_column width=\"1/6\"][/vc_column][/vc_row]', 'Educating the low-income clusters about benefits of active banking and digital payment solutions', '', 'publish', 'closed', 'closed', '', 'educating-low-income-clusters-benefits-active-banking-digital-payment-solutions', '', '', '2018-09-24 06:56:08', '2018-09-24 06:56:08', '', 0, 'https://cashlesscatalyst.org/?page_id=25993', 0, 'page', '', 0),
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(25999, 12, '2018-09-12 17:52:10', '2018-09-12 17:52:10', '', 'paybee', '', 'inherit', 'closed', 'closed', '', 'paybee-8', '', '', '2018-09-12 17:52:10', '2018-09-12 17:52:10', '', 25005, 'https://cashlesscatalyst.org/wp-content/uploads/2018/08/paybee.png', 0, 'attachment', 'image/png', 0),
(26000, 12, '2018-09-12 17:52:16', '2018-09-12 17:52:16', '', 'paynearby', '', 'inherit', 'closed', 'closed', '', 'paynearby-4', '', '', '2018-09-12 17:52:16', '2018-09-12 17:52:16', '', 25005, 'https://cashlesscatalyst.org/wp-content/uploads/2018/08/paynearby.png', 0, 'attachment', 'image/png', 0),
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(26041, 12, '2018-09-12 22:26:25', '0000-00-00 00:00:00', '[vc_row][vc_column][vc_column_text letter_spacing=\"\"]<p>[timeline-express]</p>\r\n[/vc_column_text][/vc_column][/vc_row]', 'timeline', '', 'draft', 'closed', 'closed', '', '', '', '', '2018-09-12 22:26:25', '2018-09-12 22:26:25', '', 0, 'https://cashlesscatalyst.org/?page_id=26041', 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
(26039, 12, '2019-11-07 07:28:22', '2019-11-07 07:28:22', '[vc_row equal_height=\"yes\" el_id=\"first-section\" inner_container=\"no\" type=\"image\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"0\" padding_bottom=\"0\" fixed_height=\"899px\" bg_image=\"10060\"][vc_column][vc_row_inner inner_container=\"yes\" min_height=\"899px\" bg_pos_h=\"center\" bg_pos_v=\"top\" css=\".vc_custom_1483077947446{background-image: url(https://cashlesscatalyst.org/wp-content/uploads/2015/11/triangle-banner1.png?id=7987) !important;background-position: 0 0 !important;background-repeat: no-repeat !important;}\" el_id=\"white-triangle\"][vc_column_inner el_class=\"pzindex\" offset=\"vc_col-lg-6 vc_col-md-8 vc_col-xs-12\"][kleo_gap size=\"120px\" visibility=\"visible-xs\"][kleo_gap size=\"160px\" visibility=\"visible-sm\"][kleo_gap size=\"200px\" visibility=\"visible-md,visible-lg\"][vc_custom_heading text=\"ABOUT US\" font_container=\"tag:h1|font_size:36px|text_align:left|line_height:42px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_column_text font_size=\"16px\" vertical_separator=\"yes\" letter_spacing=\"\" letter-spacing=\"75\"]Catalyst is an initiative funded by United States Agency for International Development (USAID) under the mSTAR Program to increase adoption of digital payments in India, using a targeted ecosystem approach.\r\n\r\nOur vision is to realize an inclusive digital economy that meets the needs of all Indians.[/vc_column_text][/vc_column_inner][vc_column_inner offset=\"vc_col-lg-3\"][/vc_column_inner][vc_column_inner offset=\"vc_col-lg-4 vc_col-md-4 vc_col-xs-12\"][kleo_gap size=\"290px\" visibility=\"visible-xs,visible-sm\"][kleo_gap size=\"634px\" visibility=\"visible-md,visible-lg\"][vc_single_image image=\"7820\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"navigating-unchartered-waters\" type=\"image\" bg_color=\"#ffffff\" bg_repeat=\"repeat\" padding_top=\"\" padding_bottom=\"\"][vc_column][kleo_magic_container position=\"absolute\" top=\"0px\" left=\"50%\" min_height=\"521px\" width=\"2560px\" css=\".vc_custom_1486370275881{margin-left: -1145px !important;background-image: url(https://cashlesscatalyst.org/wp-content/uploads/2015/11/home-banner-triangle.png?id=7813) !important;background-position: 0 0 !important;background-repeat: no-repeat !important;}\"][/kleo_magic_container][vc_row_inner equal_height=\"yes\" css=\".vc_custom_1486361953253{margin-bottom: 20px !important;padding-top: 5% !important;padding-right: 5% !important;padding-left: 5% !important;background-color: #ffffff !important;}\"][vc_column_inner css=\".vc_custom_1486361714089{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"THE 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\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\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\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\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\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\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\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\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\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 disable_element=\"yes\" front_status=\"draft\"][vc_column][vc_row_inner css=\".vc_custom_1487942020748{margin-bottom: 50px !important;}\"][vc_column_inner][vc_custom_heading text=\"Our research into Indian consumer and merchant behavior has generated interesting insights on how to catalyze last mile payments.\" font_container=\"tag:h3|font_size:24px|text_align:center|color:%23d11e3c|line_height:30px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_column_text text_color=\"#373a3a\" font_size=\"24px\" font_weight=\"bold\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Key Insights for Consumers</p>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9365\" img_size=\"full\" css=\".vc_custom_1487934180340{margin-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<strong>Create opportunities for daily use</strong>\r\n\r\nHigh-frequency low-value transactions (such as managing loose change, tracking expenses, etc.) are a better catalyst than low-frequency high-value transactions for digital payments habit formation[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9366\" img_size=\"full\" css=\".vc_custom_1487934189037{margin-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<strong>Micro savings are a valuable hook</strong>\r\n\r\nPeople feel that they are unable to be disciplined about their spending targets and end up \"wasting money\" if there is free cash lying at home[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9367\" img_size=\"full\" css=\".vc_custom_1487934195985{margin-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<strong>Communicate and educate benefits</strong>\r\n\r\nMany consumers have limited awareness of digital payments, because they perceive it to be irrelevant; focusing communication on one sharply defined use case with a clear benefit can be an anchor for broader adoption[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9368\" img_size=\"full\" css=\".vc_custom_1487934203651{margin-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<strong>Assisted first time use is important</strong>\r\n\r\nFirst time use of a new digital payment method is tough for users and carries perceived financial risk; assisted first time payments can mitigate this hurdle[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9369\" img_size=\"full\" css=\".vc_custom_1487934209755{margin-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<strong>The payment instrument should match the purchase type\r\n</strong>\r\n\r\nLarger and formal-looking payment products are associated to expensive purchases; similarly, smaller &amp; informal artefacts may get associated to smaller purchases[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#373a3a\" font_size=\"24px\" font_weight=\"bold\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Key Insights for Merchants</p>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9372\" img_size=\"full\" css=\".vc_custom_1487934171416{margin-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<strong>No upfront costs can increase trials\r\n</strong>\r\n\r\nKeeping a minimum deposit in current accounts for obtaining a POS machine is an impediment to adoption; Merchants prefer models which are transaction linked[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9373\" img_size=\"full\" css=\".vc_custom_1487933926057{margin-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<strong>Consumer demand is the key catalyst</strong>\r\n\r\nMerchants cite lack of consumer demand as the key factor preventing adoption of digital payments; most merchants are willing to adopt payments technology if customers ask for it[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9374\" img_size=\"full\" css=\".vc_custom_1487933974562{margin-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<strong>Digital money + Physical proof</strong>\r\n\r\nA large proportion of users transact through non-digital methods and physical artefacts such as paper receipts help in instilling trust as opposed to non-solid digital receipts[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9375\" img_size=\"full\" css=\".vc_custom_1487935020088{margin-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<strong>Credit as a hook</strong>\r\n\r\nAccess to credit is a more severe pain point than the need to digitize cash, and therefore can be a powerful incentive to bring small merchants on digital payment platforms[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9376\" img_size=\"full\" css=\".vc_custom_1487935042651{margin-bottom: 0px !important;}\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<strong>Cash + Digital hybrids can be important</strong>\r\n\r\nManaging daily change is a significant pain point for merchants and they often have to waste time and money to arrange change[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner css=\".vc_custom_1487938697764{margin-top: 20px !important;}\"][kleo_button title=\"Learn More\" href=\"https://www.globalinnovationexchange.org/beyond-cash\" target=\"_blank\" style=\"custom\" border_width=\"2px\" position=\"center\" size=\"sm\" special=\"no\" border=\"no\" icon=\"0\" font_size=\"14px\" font_weight=\"400\" letter_spacing=\"\" box_shadow_color=\"rgba(43,33,47,0.15)\" box_shadow_x=\"6\" box_shadow_blur=\"18\" el_class=\"hidden\" custom_background=\"#d11e3c\" custom_bg_hover=\"#ffffff\" custom_text=\"#ffffff\" custom_text_hover=\"#d11e3c\" custom_border=\"#d11e3c\" custom_border_hover=\"#ffffff\"][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: center;\"><span class=\"learn-more\"><a style=\"text-decoration: none;\" href=\"https://www.globalinnovationexchange.org/beyond-cash\">Learn More <i class=\"fa fa-angle-right\"></i></a></span></p>\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row padding_bottom=\"0\"][vc_column][rev_slider_vc alias=\"keyinsights\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"color\" bg_color=\"#ffffff\" padding_bottom=\"0\"][vc_column][vc_empty_space height=\"30px\"][vc_row_inner equal_height=\"yes\"][vc_column_inner][vc_custom_heading text=\"CATALYST IS UNIQUELY POSITIONED TO PUSH THE NEEDLE\" 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=\"\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Catalyst has three distinct engines of activity, coordinated in a manner in which we hope their sum will be greater than its parts. Our Digital Payments Lab involves implementing a set of coordinated initiatives in a local geographical ecosystem to shift consumer, merchant and supplier behavior from cash to digital payment transactions.</p>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"pup-container phide\" width=\"1/2\" css=\".vc_custom_1489065592080{padding-right: 5% !important;}\"][vc_custom_heading text=\"Phase 1\" font_container=\"tag:h2|font_size:24px|text_align:left|color:%23d11e3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<span style=\"color: #373a3a;\">Build digital payment labs in urban and rural geographies to test and to demonstrate workable cash-light systems for consumers, merchants and suppliers, targeting a 10x boost in payment digitization rates.</span>[/vc_column_text][/vc_column_inner][vc_column_inner el_class=\"pup-container phide\" width=\"1/2\" css=\".vc_custom_1489065582551{padding-right: 5% !important;}\"][vc_custom_heading text=\"Phase 2\" font_container=\"tag:h2|font_size:24px|text_align:left|color:%23d11e3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_column_text font_size=\"16px\" letter_spacing=\"\"]<span style=\"color: #373a3a;\">Institutionalize and scale successful initiatives in close partnership with public and private sector stakeholders, thus crystallizing replicable models for implementation.</span>[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1505396058573{margin-top: 30px !important;}\"][vc_column_inner][vc_single_image image=\"10959\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\" el_class=\"phide\"][rev_slider_vc alias=\"about-dpl\"][/vc_column_inner][/vc_row_inner][vc_empty_space height=\"100px\"][/vc_column][/vc_row][vc_row disable_element=\"yes\" front_status=\"draft\" type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner css=\".vc_custom_1487942075495{margin-top: 35px !important;}\"][vc_column_inner css=\".vc_custom_1487942747395{margin-bottom: 30px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"Catalyst is investing in three capabilities that can help scale the benefits of its Digital Payment Labs\" font_container=\"tag:h3|font_size:24px|text_align:left|color:%23373a3a|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\"][vc_single_image image=\"9805\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text font_size=\"16px\" letter_spacing=\"\" el_class=\"numeric-points-red\"]\r\n<ol>\r\n	<li><span style=\"color: #d11e3c;\">Fintech for the Bottom 80</span>\r\n<span style=\"color: #373a3a; font-size: 16px;\">As an incubator that helps visionary entrepreneurs to build new products, processes and interfaces that address the unique needs of hundreds of millions strong as yet underserved segments</span></li>\r\n	<li><span style=\"color: #d11e3c;\">Data Sharing/Data Vault</span>\r\n<span style=\"color: #373a3a; font-size: 16px;\">As a public utility platform to ease data gathering for regulatory purposes and more efficient data exchange between front-end (e.g., points of sale) and back-end (e.g., digital lenders) players to deliver new and appropriate services (e.g., access to credit) to end users</span></li>\r\n	<li><span style=\"color: #d11e3c;\">Regulatory Sandbox</span>\r\n<span style=\"color: #373a3a; font-size: 16px;\">As a mechanism for policymakers and regulators to more effectively engage with innovators in a controlled environment, simulate and study new policy environments, develop customer protection systems, and promote policy design based on proof</span></li>\r\n</ol>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" disable_element=\"yes\" front_status=\"draft\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"\"][vc_column][vc_row_inner css=\".vc_custom_1487942075495{margin-top: 35px !important;}\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1489062433193{margin-bottom: 30px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_custom_heading text=\"Catalyst is investing in three capabilities that can help scale the benefits of its Digital Payment Labs\" font_container=\"tag:h3|font_size:24px|text_align:center|color:%23373a3a|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1489059587620{margin-bottom: 40px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"1/3\"][vc_column_text font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-align-right\"]<span style=\"color: #d11e3c;\">1. Fintech for the Bottom 80</span>\r\n<span style=\"color: #373a3a; font-size: 16px;\">As an incubator that helps visionary entrepreneurs to build new products, processes and interfaces that address the unique needs of hundreds of millions strong as yet underserved segments</span>[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\" offset=\"vc_hidden-xs\"][vc_single_image image=\"9899\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text font_size=\"16px\" letter_spacing=\"\" el_class=\"numeric-points-red\"]<span style=\"color: #d11e3c;\">2. Data Sharing/Data Vault</span>\r\n<span style=\"color: #373a3a; font-size: 16px;\">As a public utility platform to ease data gathering for regulatory purposes and more efficient data exchange between front-end (e.g., points of sale) and back-end (e.g., digital lenders) players to deliver new and appropriate services (e.g., access to credit) to end users</span>[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner css=\".vc_custom_1489060379488{margin-top: 2% !important;}\"][vc_column_inner width=\"1/3\"][/vc_column_inner][vc_column_inner width=\"1/3\"][vc_column_text font_size=\"16px\" letter_spacing=\"\" el_class=\"numeric-points-red\"]<span style=\"color: #d11e3c;\">3. Regulatory Sandbox</span>\r\n<span style=\"color: #373a3a; font-size: 16px;\">As a mechanism for policymakers and regulators to more effectively engage with innovators in a controlled environment, simulate and study new policy environments, develop customer protection systems, and promote policy design based on proof</span>[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/3\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row content_placement=\"middle\" el_id=\"ecosystem-approach\" type=\"image\" bg_color=\"#eeeeee\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner css=\".vc_custom_1505371881613{margin-bottom: 30px !important;}\"][vc_custom_heading text=\"CRACKING THE PAYMENTS JUGGERNAUT\" 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=\"\"][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=\"1/3\"][vc_row_inner][vc_column_inner][vc_single_image image=\"11354\" img_size=\"full\" alignment=\"center\" animation=\"animate-when-almost-visible\" css_animation=\"bottom-to-top\" css=\".vc_custom_1505369933736{margin-top: 35px !important;}\"][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=\"2/3\"][vc_row_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"5/12\"][vc_custom_heading text=\"Define\" font_container=\"tag:h6|font_size:24px|text_align:left|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487943064167{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\" css=\".vc_custom_1505370234140{margin-top: 0px !important;}\"]\r\n<p style=\"text-align: justify;\">Distinct economic geographies (cities, rural clusters or small towns) where local networks of merchants, consumers, distributors financial services providers, and governments transact with each other</p>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"5/12\"][vc_custom_heading text=\"Test\" font_container=\"tag:h6|font_size:24px|text_align:left|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487943105830{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\" css=\".vc_custom_1505370286653{margin-top: 0px !important;}\"]\r\n<p style=\"text-align: justify;\">Technology and business models by rolling out initiatives and experiments that combine technologies, business models and institutional innovations to drive large-scale digital payments penetration</p>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"5/12\"][vc_custom_heading text=\"Support\" font_container=\"tag:h6|font_size:24px|text_align:left|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488553545187{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\" css=\".vc_custom_1505370347290{margin-top: 0px !important;}\"]\r\n<p style=\"text-align: justify;\">Policies and regulations that enable digital payments through analyses and recommendations based on success on the ground</p>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"5/12\"][vc_custom_heading text=\"Scale\" font_container=\"tag:h6|font_size:24px|text_align:left|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487943122423{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\" css=\".vc_custom_1505370397781{margin-top: 0px !important;}\"]\r\n<p style=\"text-align: justify;\">Successful digital payment initiatives across the country by leveraging strategic partnerships and government programs to inform and institutionalize</p>\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\" el_id=\"ecosystem-approach\" disable_element=\"yes\" front_status=\"draft\" type=\"image\" bg_color=\"#eeeeee\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"CRACKING THE PAYMENTS CODE\" 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_1489122843037{margin-bottom: 40px !important;}\"][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=\"1/4\" el_class=\"ctpj-container\"][vc_row_inner equal_height=\"yes\"][vc_column_inner el_class=\"hexagon-white\" css=\".vc_custom_1489056661534{margin-bottom: 50px !important;}\"][vc_custom_heading text=\"Define\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1489055767879{margin-bottom: 0px !important;}\" el_class=\"ctp-title\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-center\" css=\".vc_custom_1489055827674{margin-top: 0px !important;padding-top: 20px !important;}\"]Distinct economic geographies (cities, rural clusters or small towns) where local networks of merchants, consumers, distributors  financial services providers, and governments transact with each other[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner el_class=\"hexagon-white\"][vc_custom_heading text=\"Test\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1489055945604{margin-bottom: 0px !important;}\" el_class=\"ctp-title\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-center\" css=\".vc_custom_1489055851053{margin-top: 0px !important;padding-top: 20px !important;}\"]Technology and business models by rolling out initiatives and experiments that combine technologies, business models and institutional innovations to drive large-scale digital payments penetration[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner offset=\"vc_hidden-sm vc_hidden-xs\"][vc_single_image image=\"9772\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1489048690467{margin-top: 35px !important;}\"][/vc_column_inner][/vc_row_inner][/vc_column][vc_column width=\"1/4\" el_class=\"ctpj-container\"][vc_row_inner equal_height=\"yes\"][vc_column_inner el_class=\"hexagon-white\" css=\".vc_custom_1489056673791{margin-bottom: 50px !important;}\"][vc_custom_heading text=\"Support\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1489055926008{margin-bottom: 0px !important;}\" el_class=\"ctp-title\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-center\" css=\".vc_custom_1489055888329{margin-top: 0px !important;padding-top: 20px !important;}\"]Policies and regulations that enable digital payments through analyses and recommendations based on success on the ground[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner el_class=\"hexagon-white\"][vc_custom_heading text=\"Scale\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1489055961372{margin-bottom: 0px !important;}\" el_class=\"ctp-title\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-center\" css=\".vc_custom_1489055869165{margin-top: 0px !important;padding-top: 20px !important;}\"]Successful digital payment initiatives across the country by leveraging strategic partnerships and government programs to inform and institutionalize[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row inner_container=\"no\"][vc_column][vc_row_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"10/12\"][vc_custom_heading text=\"OUR ROLE - BOTH THAT OF A SPEEDBOAT AND TUGBOAT\" 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_1488952925715{margin-top: 20px !important;margin-bottom: 50px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\"][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"1/6\" css=\".vc_custom_1489062234491{margin-right: 0px !important;margin-left: 0px !important;padding-right: .5% !important;padding-left: .5% !important;}\"][vc_single_image image=\"9906\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1489061316397{margin-right: 0px !important;margin-left: 0px !important;padding-right: 0px !important;padding-left: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/6\" css=\".vc_custom_1489062247167{margin-right: 0px !important;margin-left: 0px !important;padding-right: .5% !important;padding-left: .5% !important;}\"][vc_single_image image=\"9907\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1489061425616{margin-right: 0px !important;margin-left: 0px !important;padding-right: 0px !important;padding-left: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/6\" css=\".vc_custom_1489062292531{margin-right: 0px !important;margin-left: 0px !important;padding-right: .5% !important;padding-left: .5% !important;}\"][vc_single_image image=\"9908\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1489061455908{margin-right: 0px !important;margin-left: 0px !important;padding-right: 0px !important;padding-left: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/6\" css=\".vc_custom_1489062271812{margin-right: 0px !important;margin-left: 0px !important;padding-right: .5% !important;padding-left: .5% !important;}\"][vc_single_image image=\"9948\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1489123606295{margin-right: 0px !important;margin-left: 0px !important;padding-right: 0px !important;padding-left: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/6\" css=\".vc_custom_1489062283868{margin-right: 0px !important;margin-left: 0px !important;padding-right: .5% !important;padding-left: .5% !important;}\"][vc_single_image image=\"9910\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1489061592414{margin-right: 0px !important;margin-left: 0px !important;padding-right: 0px !important;padding-left: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" disable_element=\"yes\" el_class=\"phide\"][vc_column_inner width=\"1/12\"][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9389\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1487937038779{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Thought Leadership\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487942197732{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Design project portfolios, partnerships, end-to-end solutions, enhanced interfaces and hypotheses to be tested on the ground</p>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9390\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1487937093162{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Targeted Funding\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487942212954{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Incubation grants and USAID credit guarantees to promote entrepreneurial efforts to solve market failures</p>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9391\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1487937124318{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Project Delivery\r\n\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487942246166{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">On-the-ground Project Management Unit to track progress and coordinate stakeholders</p>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9392\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1487937154277{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Knowledge Management\r\n\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1487942282826{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Collaborative, multi-dimensional research on adoption and use of digital finance, and its long term impact</p>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/6\"][vc_single_image image=\"9393\" img_size=\"full\" alignment=\"center\" css=\".vc_custom_1487937188914{margin-bottom: 0px !important;}\"][vc_custom_heading text=\"Advocacy Platform\" font_container=\"tag:h6|font_size:24px|text_align:center|color:%23d01f3c|line_height:30px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1488891423771{margin-bottom: 0px !important;}\"][vc_column_text text_color=\"#373a3a\" font_size=\"16px\" letter_spacing=\"\"]\r\n<p style=\"text-align: center;\">Multisector partnerships to address key challenges, disseminate learnings, scale successful initiatives, and advocate enabling policies</p>\r\n\r\n[/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/12\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row full_height=\"yes\" content_placement=\"middle\" type=\"image\" bg_position_horizontal=\"center\" bg_repeat=\"repeat-y\" bg_attachment=\"true\" enable_parallax=\"false\" parallax_speed=\"0.4\" padding_top=\"70\" padding_bottom=\"0\" margin_top=\"40\" margin_bottom=\"0\" bg_image=\"10061\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#ffffff\" font_size=\"18px\" letter_spacing=\"\" el_class=\"lh24\"][timeline-express][/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_1526057729699{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative funded by USAID under the mSTAR Program, through funding provided to FHI 360. Housed within IFMR LEAD, the initiative aims to expand digital payments and financial inclusion in India, especially for small merchants and low-income consumers.</p>\r\n\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_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]', 'About', '', 'publish', 'closed', 'closed', '', 'about-us', '', '', '2019-11-07 07:41:05', '2019-11-07 07:41:05', '', 0, 'https://cashlesscatalyst.org/?page_id=26039', 0, 'page', '', 0),
(41186, 0, '2019-04-10 13:40:21', '2019-04-10 13:40:21', '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: Perevozkalgox (IP: 94.180.191.154, dynamicip-94-180-191-154.pppoe.kzn.ertelecom.ru)\r\nEmail: medcors03@gmail.com\r\nURL: https://medcors03.ru\r\nComment: \r\nИзза свою работу перевозка пациентов сервис уже осуществил более 5314 отправлений. Под 1745 крупных пациентов оказали медицинскую пособие работникам сообразно контракту. Новые автомобили Fiat Ducato убираются еженедельно больных. Небольшой издержка топлива и ремни безопасности делают перемещение пациента максимально безопасным и комфортным клиентов. Чтобы перевозки  из автомобиля перед особой медицинской помощью клиентов регионы Москвы. Коврики предоставляются бесплатно. Автомобиль может вместить предварительно 3 индивидуальность (организаторы и родственники) доставка Московская область. \r\nТУТ <a href=\"https://medcors03.ru\" rel=\"nofollow\">Перевозка лежачих больных</a>  \r\nПозволительно поставить инвалидную коляску доставка и удобно расположить ее в инвалидной коляске пожилых. Основную службу скорой помощи подтверждают постоянные клиентов:  употреблять те, который связывается с нами уже девятый и десятый пациентов. С опытным персоналом и опытным пациентов, они заботливо доставляют пациента и ухаживают изза кроватью Московская область. Наши пациенты, инвалиды, пожилые человек разве человек с проблемами в автомобиле будут в нужном месте и время от времени. Медицинская богослужение компании обеспечивает транспортировку скорой помощи пожилых (тяжелых и больных), инвалидов и пожилых людей из Москвы и Московской области. Наша занятие медицинской помощи позволяет вам в / из Москвы на конкретном самолете безопасно перевозить больных , аккуратно и точно вранье тож лежать пожилых регионы Москвы. \r\nhttps://medcors03.ru - Перевозка клиентов  в  Москве  платная\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12128#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12128#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12128#wpbody-content\r\nCurrently 189 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-28', '', '', '2019-04-10 13:40:21', '2019-04-10 13:40:21', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-28/', 0, 'postman_sent_mail', '', 0),
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(40984, 0, '2019-03-17 14:46:23', '2019-03-17 14:46:23', 'A new comment on the post \"The view from 10 months in..\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/catalyst-blog/view-10-months-in/\r\n\r\nAuthor: SonjaCaf (IP: 178.137.17.255, 178-137-17-255.broadband.kyivstar.net)\r\nEmail: mattressh7@gmail.com\r\nURL: \r\nComment: \r\ncbd oil for sale in california [url=http://eastwill.org/forum/home.php?mod=space&amp;uid=815104]I thought about this[/url] \r\ncbdistillery coupons [url=http://rulearnspb.ru/]link[/url] \r\ncbd oil for sale online amazon [url=http://keshoxford.com/index.php/christmas2017/]read what he said[/url] \r\ncbd hemp oil reviews for anxiety [url=http://www.wichitra.com/]click over here[/url] \r\n \r\ncbd hemp oil for dogs reviews <a href=\"http://ranksite.ga/story.php?title=cannabis-oil-perks-as-well-as-negative-aspects#discuss\" rel=\"nofollow\">you can try here</a> \r\ncbd oil for sale at walmart <a href=\"http://metalistkharkiv.ru/\" rel=\"nofollow\">visit this page</a> \r\ncbd oil benefits webmd <a href=\"http://russian-tanks.com/medium-tanks7.php&amp;sa\" rel=\"nofollow\">visit these guys</a> \r\ncbd oil for sale near me <a href=\"http://lencanpottery.com/top/maintain-workflow-within\" rel=\"nofollow\">what google did to me</a>\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12073#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12073#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12073#wpbody-content\r\nCurrently 134 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-65', '', '', '2019-03-17 14:46:23', '2019-03-17 14:46:23', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-65/', 0, 'postman_sent_mail', '', 0),
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href=\"http://halforderfringe.ru/t/561906\" rel=\"nofollow\">Ore</a> <a href=\"http://halfsiblings.ru/t/563069\" rel=\"nofollow\">Dov</a> <a href=\"http://hallofresidence.ru/t/563283\" rel=\"nofollow\">сер</a> <a href=\"http://haltstate.ru/t/560893\" rel=\"nofollow\">Roc</a> <a href=\"http://handcoding.ru/t/816401\" rel=\"nofollow\">Chr</a> <a href=\"http://handportedhead.ru/t/946069\" rel=\"nofollow\">Пер</a> <a href=\"http://handradar.ru/t/562505\" rel=\"nofollow\">Sha</a> <a href=\"http://handsfreetelephone.ru/t/316877\" rel=\"nofollow\">ред</a> <a href=\"http://hangonpart.ru/t/672488\" rel=\"nofollow\">лов</a> <a href=\"http://haphazardwinding.ru/t/557681\" rel=\"nofollow\">Udy</a> <a href=\"http://hardalloyteeth.ru/t/557201\" rel=\"nofollow\">ВВи</a> <a href=\"http://hardasiron.ru/t/566695\" rel=\"nofollow\">Gri</a> <a href=\"http://hardenedconcrete.ru/t/567345\" rel=\"nofollow\">Vog</a> <a href=\"http://harmonicinteraction.ru/t/567821\" rel=\"nofollow\">Coo</a> <a href=\"http://hartlaubgoose.ru/t/167699\" rel=\"nofollow\">сер</a> <a href=\"http://hatchholddown.ru/t/602028\" rel=\"nofollow\">мол</a> <a href=\"http://haveafinetime.ru/t/767449\" rel=\"nofollow\">Lea</a> <a href=\"http://hazardousatmosphere.ru/t/336491\" rel=\"nofollow\">Ran</a> <a href=\"http://headregulator.ru/t/676617\" rel=\"nofollow\">Ени</a> <a href=\"http://heartofgold.ru/t/851254\" rel=\"nofollow\">The</a> <a href=\"http://heatageingresistance.ru/t/488988\" rel=\"nofollow\">Rom</a>  \r\n<a href=\"http://heatinggas.ru/t/1009744\" rel=\"nofollow\">Ант</a> <a href=\"http://heavydutymetalcutting.ru/t/811368\" rel=\"nofollow\">Jam</a> <a href=\"http://jacketedwall.ru/t/603182\" rel=\"nofollow\">The</a> <a href=\"http://japanesecedar.ru/t/602229\" rel=\"nofollow\">Els</a> <a href=\"http://jibtypecrane.ru/t/608005\" rel=\"nofollow\">Kno</a> <a href=\"http://jobabandonment.ru/t/603951\" rel=\"nofollow\">RAY</a> <a href=\"http://jobstress.ru/t/603946\" rel=\"nofollow\">RAY</a> <a href=\"http://jogformation.ru/t/632734\" rel=\"nofollow\">Бог</a> <a href=\"http://jointcapsule.ru/t/783079\" rel=\"nofollow\">Joa</a> <a href=\"http://jointsealingmaterial.ru/t/931643\" rel=\"nofollow\">Рыб</a> <a href=\"http://journallubricator.ru/t/654538\" rel=\"nofollow\">Kei</a> <a href=\"http://juicecatcher.ru/t/785049\" rel=\"nofollow\">Кош</a> <a href=\"http://junctionofchannels.ru/t/813732\" rel=\"nofollow\">пос</a> <a href=\"http://justiciablehomicide.ru/t/785328\" rel=\"nofollow\">Вар</a> <a href=\"http://juxtapositiontwin.ru/t/770465\" rel=\"nofollow\">XIX</a> <a href=\"http://kaposidisease.ru/t/784789\" rel=\"nofollow\">XIX</a> <a href=\"http://keepagoodoffing.ru/t/752731\" rel=\"nofollow\">Cla</a> <a href=\"http://keepsmthinhand.ru/t/610645\" rel=\"nofollow\">Zen</a> <a href=\"http://kentishglory.ru/t/811890\" rel=\"nofollow\">XIX</a> <a href=\"http://kerbweight.ru/t/784612\" rel=\"nofollow\">Mic</a> <a href=\"http://kerrrotation.ru/t/606740\" rel=\"nofollow\">MAR</a> <a href=\"http://keymanassurance.ru/t/609264\" rel=\"nofollow\">211</a> <a href=\"http://keyserum.ru/t/815219\" rel=\"nofollow\">III</a> <a href=\"http://kickplate.ru/t/251787\" rel=\"nofollow\">Цац</a> <a href=\"http://killthefattedcalf.ru/t/669829\" rel=\"nofollow\">XVI</a> <a href=\"http://kilowattsecond.ru/t/606723\" rel=\"nofollow\">Hot</a> <a href=\"http://kingweakfish.ru/t/609790\" rel=\"nofollow\">Zen</a> <a href=\"http://kinozones.ru/film/1907\" rel=\"nofollow\">мур</a> <a href=\"http://kleinbottle.ru/t/611422\" rel=\"nofollow\">Zen</a> <a href=\"http://kneejoint.ru/t/605585\" rel=\"nofollow\">чис</a>  \r\n<a href=\"http://knifesethouse.ru/t/877438\" rel=\"nofollow\">Три</a> <a href=\"http://knockonatom.ru/t/608187\" rel=\"nofollow\">Zen</a> <a href=\"http://knowledgestate.ru/t/605442\" rel=\"nofollow\">Zen</a> <a href=\"http://kondoferromagnet.ru/t/674416\" rel=\"nofollow\">Kar</a> <a href=\"http://labeledgraph.ru/t/1148897\" rel=\"nofollow\">Mid</a> <a href=\"http://laborracket.ru/t/505362\" rel=\"nofollow\">чел</a> <a href=\"http://labourearnings.ru/t/862846\" rel=\"nofollow\">Wes</a> <a href=\"http://labourleasing.ru/t/851569\" rel=\"nofollow\">Чев</a> <a href=\"http://laburnumtree.ru/t/893812\" rel=\"nofollow\">Енц</a> <a href=\"http://lacingcourse.ru/t/889645\" rel=\"nofollow\">Fra</a> <a href=\"http://lacrimalpoint.ru/t/877400\" rel=\"nofollow\">жур</a> <a href=\"http://lactogenicfactor.ru/t/887258\" rel=\"nofollow\">XIX</a> <a href=\"http://lacunarycoefficient.ru/t/813440\" rel=\"nofollow\">Сав</a> <a href=\"http://ladletreatediron.ru/t/669925\" rel=\"nofollow\">Car</a> <a href=\"http://laggingload.ru/t/808638\" rel=\"nofollow\">Илл</a> <a href=\"http://laissezaller.ru/t/820580\" rel=\"nofollow\">Pet</a> <a href=\"http://lambdatransition.ru/t/762385\" rel=\"nofollow\">отл</a> <a href=\"http://laminatedmaterial.ru/t/762615\" rel=\"nofollow\">Fyo</a> <a href=\"http://lammasshoot.ru/t/782064\" rel=\"nofollow\">Jac</a> <a href=\"http://lamphouse.ru/t/832842\" rel=\"nofollow\">Син</a> <a href=\"http://lancecorporal.ru/t/781620\" rel=\"nofollow\">Jul</a> <a href=\"http://lancingdie.ru/t/715890\" rel=\"nofollow\">Cli</a> <a href=\"http://landingdoor.ru/t/682660\" rel=\"nofollow\">вхм</a> <a href=\"http://landmarksensor.ru/t/855014\" rel=\"nofollow\">XIX</a> <a href=\"http://landreform.ru/t/846562\" rel=\"nofollow\">XIX</a> <a href=\"http://landuseratio.ru/t/818893\" rel=\"nofollow\">Лук</a> <a href=\"http://languagelaboratory.ru/t/857758\" rel=\"nofollow\">Ern</a> <a href=\"http://largeheart.ru/shop/1163670\" rel=\"nofollow\">пот</a> <a href=\"http://lasercalibration.ru/shop/1537046\" rel=\"nofollow\">Wor</a> <a href=\"http://laserlens.ru/lase_zakaz/419\" rel=\"nofollow\">GSM</a>  \r\n<a href=\"http://laserpulse.ru/shop/591722\" rel=\"nofollow\">XIX</a> <a href=\"http://laterevent.ru/shop/1031067\" rel=\"nofollow\">гар</a> <a href=\"http://latrinesergeant.ru/shop/452857\" rel=\"nofollow\">AEG</a> <a 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rel=\"nofollow\">Вос</a> <a href=\"http://medinfobooks.ru/book/3201\" rel=\"nofollow\">агя</a> <a href=\"http://mp3lists.ru/item/851\" rel=\"nofollow\">Blu</a> <a href=\"http://nameresolution.ru/shop/1151523\" rel=\"nofollow\">Bri</a> <a href=\"http://naphtheneseries.ru/shop/649815\" rel=\"nofollow\">VAL</a> <a href=\"http://narrowmouthed.ru/shop/462448\" rel=\"nofollow\">печ</a> <a href=\"http://nationalcensus.ru/shop/1056435\" rel=\"nofollow\">отл</a> <a href=\"http://naturalfunctor.ru/shop/632770\" rel=\"nofollow\">XII</a> <a href=\"http://navelseed.ru/shop/104142\" rel=\"nofollow\">WIN</a> <a href=\"http://neatplaster.ru/shop/456443\" rel=\"nofollow\">Pyc</a> <a href=\"http://necroticcaries.ru/shop/185578\" rel=\"nofollow\">Elv</a> <a href=\"http://negativefibration.ru/shop/641094\" rel=\"nofollow\">Win</a> <a href=\"http://neighbouringrights.ru/shop/652241\" rel=\"nofollow\">Win</a> <a href=\"http://objectmodule.ru/shop/471383\" rel=\"nofollow\">скл</a>  \r\n<a href=\"http://observationballoon.ru/shop/95426\" rel=\"nofollow\">Dre</a> <a href=\"http://obstructivepatent.ru/shop/457978\" rel=\"nofollow\">Clo</a> <a href=\"http://oceanmining.ru/shop/458276\" rel=\"nofollow\">Mai</a> <a href=\"http://octupolephonon.ru/shop/571302\" rel=\"nofollow\">Adv</a> <a href=\"http://offlinesystem.ru/shop/150152\" rel=\"nofollow\">All</a> <a href=\"http://offsetholder.ru/shop/204540\" rel=\"nofollow\">Лит</a> <a href=\"http://olibanumresinoid.ru/shop/204318\" rel=\"nofollow\">Лит</a> <a href=\"http://onesticket.ru/shop/582801\" rel=\"nofollow\">WIN</a> <a href=\"http://packedspheres.ru/shop/584619\" rel=\"nofollow\">Лит</a> <a href=\"http://pagingterminal.ru/shop/688351\" rel=\"nofollow\">Jam</a> <a href=\"http://palatinebones.ru/shop/687889\" rel=\"nofollow\">Int</a> <a href=\"http://palmberry.ru/shop/690574\" rel=\"nofollow\">Лит</a> <a href=\"http://papercoating.ru/shop/585669\" rel=\"nofollow\">угр</a> <a href=\"http://paraconvexgroup.ru/shop/930063\" rel=\"nofollow\">Нат</a> <a href=\"http://parasolmonoplane.ru/shop/1173121\" rel=\"nofollow\">Мар</a> <a href=\"http://parkingbrake.ru/shop/1173125\" rel=\"nofollow\">Вол</a> <a href=\"http://partfamily.ru/shop/1214593\" rel=\"nofollow\">пер</a> <a href=\"http://partialmajorant.ru/shop/1176168\" rel=\"nofollow\">Rog</a> <a href=\"http://quadrupleworm.ru/shop/1544079\" rel=\"nofollow\">Boo</a> <a href=\"http://qualitybooster.ru/shop/1543881\" rel=\"nofollow\">сво</a> <a href=\"http://quasimoney.ru/shop/598165\" rel=\"nofollow\">Hea</a> <a href=\"http://quenchedspark.ru/shop/856388\" rel=\"nofollow\">это</a> <a href=\"http://quodrecuperet.ru/shop/1080335\" rel=\"nofollow\">Val</a> <a href=\"http://rabbetledge.ru/shop/1081783\" rel=\"nofollow\">Еже</a> <a href=\"http://radialchaser.ru/shop/1209124\" rel=\"nofollow\">Ерм</a> <a href=\"http://radiationestimator.ru/shop/512231\" rel=\"nofollow\">Que</a> <a href=\"http://railwaybridge.ru/shop/646656\" rel=\"nofollow\">Spa</a> <a href=\"http://randomcoloration.ru/shop/913809\" rel=\"nofollow\">Каю</a> <a href=\"http://rapidgrowth.ru/shop/1077057\" rel=\"nofollow\">The</a> <a href=\"http://rattlesnakemaster.ru/shop/1400721\" rel=\"nofollow\">Фэш</a>  \r\n<a href=\"http://reachthroughregion.ru/shop/1400954\" rel=\"nofollow\">Bab</a> <a href=\"http://readingmagnifier.ru/shop/516161\" rel=\"nofollow\">DVD</a> <a href=\"http://rearchain.ru/shop/878873\" rel=\"nofollow\">Лен</a> <a href=\"http://recessioncone.ru/shop/879585\" rel=\"nofollow\">Ala</a> <a href=\"http://recordedassignment.ru/shop/1038852\" rel=\"nofollow\">вра</a> <a href=\"http://rectifiersubstation.ru/shop/1658849\" rel=\"nofollow\">Otf</a> <a href=\"http://redemptionvalue.ru/shop/1064879\" rel=\"nofollow\">Бор</a> <a href=\"http://reducingflange.ru/shop/1687862\" rel=\"nofollow\">сит</a> <a href=\"http://referenceantigen.ru/shop/1694946\" rel=\"nofollow\">New</a> <a href=\"http://regeneratedprotein.ru/shop/1772800\" rel=\"nofollow\">XXX</a> <a 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href=\"http://selectivediffuser.ru/shop/404034\" rel=\"nofollow\">Сив</a> <a href=\"http://semiasphalticflux.ru/shop/1662374\" rel=\"nofollow\">выч</a> <a href=\"http://semifinishmachining.ru/shop/1693560\" rel=\"nofollow\">Пуз</a> <a href=\"http://spicetrade.ru/spice_zakaz/419\" rel=\"nofollow\">GSM</a> <a href=\"http://spysale.ru/spy_zakaz/419\" rel=\"nofollow\">GSM</a> <a href=\"http://stungun.ru/stun_zakaz/419\" rel=\"nofollow\">GSM</a> <a href=\"http://tacticaldiameter.ru/shop/485908\" rel=\"nofollow\">War</a>  \r\n<a href=\"http://tailstockcenter.ru/shop/496999\" rel=\"nofollow\">Илл</a> <a href=\"http://tamecurve.ru/shop/501244\" rel=\"nofollow\">Bab</a> <a href=\"http://tapecorrection.ru/shop/1774509\" rel=\"nofollow\">Мош</a> <a href=\"http://tappingchuck.ru/shop/490542\" rel=\"nofollow\">Bit</a> <a href=\"http://taskreasoning.ru/shop/502350\" rel=\"nofollow\">Дро</a> <a href=\"http://technicalgrade.ru/shop/1853618\" rel=\"nofollow\">нал</a> <a 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Please visit the moderation panel:\r\nhttps://cashlesscatalyst.org/wp-admin/edit-comments.php?comment_status=moderated#wpbody-content\r\n', '[Catalyst] Please moderate: \"The view from 10 months in..\"', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'catalyst-please-moderate-the-view-from-10-months-in-94', '', '', '2019-04-05 06:37:50', '2019-04-05 06:37:50', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-94/', 0, 'postman_sent_mail', '', 0),
(41029, 0, '2019-03-25 17:53:42', '2019-03-25 17:53:42', '\n\n\n<title>Form Fill from Catalyst Website</title>\n\n\n<p>From: Shivam Maheshwari <br />\nSubject: Form Fill from Catalyst Website</p>\n<p>Hi,</p>\n<p>Some cool, awesome person has filled out a form on the Catalyst website. Please take a look at the details filled out. </p>\n<p>Name: Shivam Maheshwari<br />\nOrganization: Delhi Technological University<br />\nEmail: shivammaheshwari_bt2k16@dtu.ac.in<br />\nPhone No.: 09958180857<br />\nFile: Fortune19-Speaker-Proposal-.pdf</p>\n<p>--<br />\nHave an awesome day.<br />\nThe ghost in the system..</p>\n<p>This e-mail was sent from a contact form on Catalyst (https://cashlesscatalyst.org)</p>\n\n', 'Form Fill from Catalyst Website', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'form-fill-from-catalyst-website-22', '', '', '2019-03-25 17:53:42', '2019-03-25 17:53:42', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/form-fill-from-catalyst-website-22/', 0, 'postman_sent_mail', '', 0),
(41036, 0, '2019-03-26 11:53:54', '2019-03-26 11:53:54', 'A newsletter subscription request for this email address was received. Please confirm it by <a href=\'http://cashlesscatalyst.org/wp-content/plugins/email-newsletter/double-optin/double-optin.php?rand=226&amp;guid=1hoqoyuocjfeltejxitmlso8thv121&amp;user=RNKSAMY@GMAIL.COM\'>clicking here</a>. If you cannot click the link, please use the following link. <br /><br /> http://cashlesscatalyst.org/wp-content/plugins/email-newsletter/double-optin/double-optin.php?rand=226&amp;guid=1hoqoyuocjfeltejxitmlso8thv121&amp;user=RNKSAMY@GMAIL.COM <br /><br /> Thanks.', 'Please confirm subscription (Email Newsletter)', 'Bad Request(invalid_grant)', 'private', 'closed', 'closed', '', 'please-confirm-subscription-email-newsletter-7', '', '', '2019-03-26 11:53:54', '2019-03-26 11:53:54', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/please-confirm-subscription-email-newsletter-7/', 0, 'postman_sent_mail', '', 0),
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(41072, 0, '2019-03-29 18:48:43', '2019-03-29 18:48:43', '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: SonjaCaf (IP: 134.249.50.180, 134-249-50-180.broadband.kyivstar.net)\r\nEmail: mattressmu@gmail.com\r\nURL: \r\nComment: \r\nbenefits of cbd oil for dogs with cancer [url=http://super-movies.ru/]get more information[/url] \r\npure cbd oil for sale near me [url=http://gdepereezd.ru/]click this over here now[/url] \r\ncbd oil for dogs with seizures reviews [url=https://www.scribd.com/user/446100512/BrittanyCrew4813]sneak a peek at this web-site[/url] \r\ncbd oil for pain relief for sale [url=https://mozillabd.science/wiki/Cannabis_is_actually_created_off_the_florals_of_the_hemp_plant]browse this site[/url] \r\n \r\ncbd infused gummies wholesale <a href=\"http://dou3.ru/\" rel=\"nofollow\">more tips here</a> \r\ndiamond cbd gummies reviews <a href=\"http://www.jesium2012.eu/\" rel=\"nofollow\">useful reference</a> \r\ncbd oil for anxiety reviews <a href=\"https://www.pinterest.co.uk/pin/824158800537522462/\" rel=\"nofollow\">my blog</a> \r\nhemp oil with cbd for sale in california <a href=\"https://www.backtothequran.com/blog/view/48487/cannabis-oil-perks-and-also-drawbacks\" rel=\"nofollow\">go to the website</a>\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12084#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12084#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12084#wpbody-content\r\nCurrently 145 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-82', '', '', '2019-03-29 18:48:43', '2019-03-29 18:48:43', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-82/', 0, 'postman_sent_mail', '', 0),
(41074, 0, '2019-03-30 10:54:33', '2019-03-30 10:54:33', '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-40', '', '', '2019-03-30 10:54:33', '2019-03-30 10:54:33', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/autoptimize-cache-size-warning-httpscashlesscatalyst-org-40/', 0, 'postman_sent_mail', '', 0),
(41073, 0, '2019-03-29 18:48:43', '2019-03-29 18:48:43', '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: SonjaCaf (IP: 134.249.50.180, 134-249-50-180.broadband.kyivstar.net)\r\nEmail: mattressmu@gmail.com\r\nURL: \r\nComment: \r\nbenefits of cbd oil for dogs with cancer [url=http://super-movies.ru/]get more information[/url] \r\npure cbd oil for sale near me [url=http://gdepereezd.ru/]click this over here now[/url] \r\ncbd oil for dogs with seizures reviews [url=https://www.scribd.com/user/446100512/BrittanyCrew4813]sneak a peek at this web-site[/url] \r\ncbd oil for pain relief for sale [url=https://mozillabd.science/wiki/Cannabis_is_actually_created_off_the_florals_of_the_hemp_plant]browse this site[/url] \r\n \r\ncbd infused gummies wholesale <a href=\"http://dou3.ru/\" rel=\"nofollow\">more tips here</a> \r\ndiamond cbd gummies reviews <a href=\"http://www.jesium2012.eu/\" rel=\"nofollow\">useful reference</a> \r\ncbd oil for anxiety reviews <a href=\"https://www.pinterest.co.uk/pin/824158800537522462/\" rel=\"nofollow\">my blog</a> \r\nhemp oil with cbd for sale in california <a href=\"https://www.backtothequran.com/blog/view/48487/cannabis-oil-perks-and-also-drawbacks\" rel=\"nofollow\">go to the website</a>\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12084#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12084#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12084#wpbody-content\r\nCurrently 145 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-83', '', '', '2019-03-29 18:48:43', '2019-03-29 18:48:43', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-83/', 0, 'postman_sent_mail', '', 0),
(41123, 0, '2019-04-07 05:27:20', '2019-04-07 05:27:20', '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: RailageToise (IP: 90.188.236.43, 90-188-236-43.pppoe.irtel.ru)\r\nEmail: samoilonikonov9797@mail.ru\r\nURL: \r\nComment: \r\nЖелезнодорожные перевозки. История возникновения и развития \r\n \r\nТеперь грузовые железнодорожные перевозки представляют собой симбиоз инженерных достижений в области средств передвижения и оптимального процесса управления продвижением товаров и услуг от поставщиков к потребителям. Железнодорожные превозки. ТК БИРТРАНСЖелезнодорожные перевозки грузов по-прежнему считаются самым быстрым, удобным и наименее затратным способом доставки различных грузов – через тяжелой строительной техники предварительно проворно портящихся продуктов питания.Объясняется это в первую очередь тем, сколько железнодорожные перевозки находятся вне конкуренции, если речь идет о транспортировке тяжелых и негабаритных грузов: строительной техники (кранов, экскаваторов, самосвалов), крупногабаритных технических изделий (положим, опор ЛЭП, железобетонных плит, перекрытий и т.п.). Железнодорожные превозки. ТК БИРТРАНС При этом размеры данных грузов ограничены лишь размерами самого подвижного состава, кто довольно исполнять железнодорожную перевозку. Более того - современная строительная техника целенаправленно проектируется именно с расчетом для то, который ее доставка довольно исполняться железнодорожным транспортом. \r\n \r\nНа всем протяжении цивилизации прислуга навсегда задумывался, чем ему перетащить или перевезти тяжеловесный, крупногабаритный, да и вместе всякий ноша, что он один не в состоянии перенести. Так были изобретены простые транспортные средства, как сани, повозка, плот, лодка. Когда усилие человека в качестве тяговой силы уже было не достаточно, человек стали извлекать животных: волов, верблюдов и, конечно же, лошадей. \r\n \r\nПаки в Древней Греции существовала обязанность перевозки тяжеловесного и негабаритного груза. Ради сокращения водного пути из Саронического залива в Коринфский существовал каменный курс, называемый Диолком с глубокими желобами в качестве направляющих и что служил ради перемещения волоком тяжелых кораблей. \r\n<a href=\"http://ppg.revistas.uema.br/index.php/REPESCA/user/viewPublicProfile/18612\" rel=\"nofollow\">перевозки жд транспортом иркутск</a>|\r\n<a href=\"http://elliottcrhy26925.canariblogs.com/-7669072\" rel=\"nofollow\">железнодорожные перевозки</a>|\r\n<a href=\"https://v.gd/xvkyXx\" rel=\"nofollow\">железнодорожные перевозки грузов по россии</a>|\r\n<a href=\"http://blzjc.com/story3249929/Р–РµР»РµР·РЅРѕРґРѕСЂРѕР¶РЅС‹Рµ-РїРµСЂРµРІРѕР·РєРё\" rel=\"nofollow\">железнодорожные перевозки грузов</a>|\r\n<a href=\"http://greatbookmarklist.com/story2459825/Р–РµР»РµР·РЅРѕРґРѕСЂРѕР¶РЅС‹Рµ-РїРµСЂРµРІРѕР·РєРё\" rel=\"nofollow\">жд перевозки иркутск владивосток</a>|\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12100#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12100#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12100#wpbody-content\r\nCurrently 161 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-8', '', '', '2019-04-07 05:27:20', '2019-04-07 05:27:20', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-8/', 0, 'postman_sent_mail', '', 0),
(39365, 20, '2018-11-16 12:30:44', '2018-11-16 12:30:44', '[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=\"\"][starbox id=21]\r\n\r\n[starbox id=22][/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" disable_element=\"yes\" front_status=\"draft\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" column_gap=\"no\" padding_top=\"70px\" padding_bottom=\"50px\" margin_top=\"0px\" bg_image=\"9937\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1484826151396{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative seeded by an alliance between the Government of India &amp; USAID, to expand digital payments and financial inclusion in India, especially for small merchants and low-income consumers.</p>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'Developing Business Models for Mass Digital Payments in India', '', 'inherit', 'closed', 'closed', '', '39336-revision-v1', '', '', '2018-11-16 12:30:44', '2018-11-16 12:30:44', '', 39336, 'https://cashlesscatalyst.org/media/39336-revision-v1/', 0, 'revision', '', 0);
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(39384, 20, '2018-11-17 15:44:22', '2018-11-17 15:44:22', '', 'Developing-Business-Models', '', 'inherit', 'closed', 'closed', '', 'developing-business-models-2', '', '', '2018-11-17 15:44:22', '2018-11-17 15:44:22', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2018/11/Developing-Business-Models.pdf', 0, 'attachment', 'application/pdf', 0),
(39407, 20, '2018-11-19 07:13:07', '2018-11-19 07:13:07', '[vc_row full_height=\"yes\" equal_height=\"yes\" content_placement=\"middle\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" padding_top=\"110\" padding_bottom=\"0\" bg_image=\"39342\"][vc_column][kleo_gap size=\"100px\"][vc_row_inner][vc_column_inner][vc_custom_heading text=\"DEVELOPING BUSINESS MODELS FOR MASS DIGITAL PAYMENTS IN INDIA\" font_container=\"tag:h2|font_size:48px|text_align:center|color:%23ffffff|line_height:54px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][kleo_gap size=\"130px\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10\" padding_bottom=\"0\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\" css=\".vc_custom_1504265033147{padding-right: 0px !important;}\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265063058{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265782417{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/11/Developing-Business-Models-1.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Developing business models for mass digital payments in a diverse country like India is a challenging task. It requires multi-stakeholder coordination to understand ‘adoption and acceptance’ challenges, develop and optimize innovative solutions and business models, answer the key question for merchants and consumers (what’s in it for me?), and consider future actions. But, above all, there is a need to design an easy-to-use digital payments interface that can cater to the needs and financial capabilities of the last mile target population.\r\n\r\nCATALYST, as a multi-stakeholder initiative, followed an ecosystem approach to identify and operationalize business models relevant to the Jaipur market. We selected Jaipur as the target geography, given the existing infrastructure to support digital uptake such as availability of power supply, internet connectivity,  penetration of mobile phones, along with the general appetite and interest among locals to learn more about digital payments.\r\n\r\nIn recent times, the success of business models has been based on creating flexible value webs as opposed to static value chains. This means that the roles and responsibilities of players in the business model are not necessarily linear, rigid, and well-defined from the start, but evolve during the course of the engagement.\r\n\r\nWe took inputs and guidance from the Government of Rajasthan, private sector organizations such as banks, fintech solution partners, merchant community and their distributors, and consumer households. While creating a blueprint for business models for mass digital payments, we had to keep in mind the requirements and contributions of these stakeholders.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_single_image image=\"39376\" img_size=\"full\" alignment=\"center\"][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\"][vc_column][vc_row_inner css=\".vc_custom_1542359333513{border-bottom-width: 25px !important;}\"][vc_column_inner][vc_custom_heading text=\"Payment digitization: the business use case\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"top\" css=\".vc_custom_1542359399750{padding-top: 30px !important;}\"][vc_column_inner][vc_single_image image=\"39371\" img_size=\"large\" alignment=\"center\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]As part of the value web of stakeholders contributing to widescale digital payment ecosystems, the solution provider who creates and runs the application should connect with both consumers and merchants. Secondly, the solution provider needs to achieve a critical mass of consumer uptake for the merchant to adopt the solution and, in turn, consumer uptake will be driven by merchant persuasion.  This dual edged sword makes it complicated for the solution provider to create a successful business model. There is also a need to match the business logic of the solution partner with that of other actors in the ecosystem who are key drivers of the model. Therefore, among the most important issues in creating sustainable business models in digital payment services is how to create value for consumers, and who to include in the value network.\r\n\r\nIn Jaipur, CATALYST helped solution partners to address these two major issues. We followed an ecosystem approach to support mechanisms such as creation of market linkages, governmental support, collection of ongoing field insights and advice on critical operational challenges. Following are the key questions that need to be answered to constitute a successful business model in mass digital payments based on our experience of working with solution partners on the ground in Jaipur since mid-2016:\r\n<ol>\r\n 	<li><strong>Who is the user?</strong> <em>Identification of the target segment and creating a niche or a ‘one-size-fit-all’ solution and customizing to specific segments</em>: One can choose to follow either of these routes for market acquisition.</li>\r\n 	<li><strong>Can the user self-onboard?</strong> <em>Assisted do-it-yourself for the Indian context</em>: Not just the rural but the urban poor too need handholding support to embrace technical evolutions. A fully automated system will not work in the Indian context. The solution provider should engage the merchant as the assisting agent and the focal point to nudge consumer adoption.</li>\r\n 	<li><strong>What are the hooks and ladders?</strong> <em>Levers to support scalability</em>: One thing that stood out from all our field insights is that digital payments alone cannot be a sustainable proposition. Alternate hooks such as credit, savings or incentives for uptake are necessary to encourage participation.</li>\r\n 	<li><strong>Where do we start?</strong> <em>B2B as a precursor to C2B</em>: Other very important drivers for merchants to volunteer to onboard consumers on digital payments are distributor buy-in and backing. A value proposition that has worked in different value chains such as FMCG, pharma and dairy in Jaipur is the digitization of B2B payments which invariably pushes the merchant to also encourage digital payments downwards in the value chain.</li>\r\n 	<li><strong>Why work with the government?</strong>  <em>Its blessing is an advantage if not a necessity</em>: It is clearly advantageous to have government support for the solution propagated. The best way to ensure that the ultimate consumer trusts the payment solution is if the government attests it.</li>\r\n 	<li><strong>What is the value proposition?</strong> <em>Consumer and/or merchant needs to see the value</em>: Ultimately the consumer is king and needs to see value in the solution beyond the freebies provided.  Merchants, on the other hand, need to make business sense of the whole proposition and ensure that going digital is profitable in order to engage the consumers. The solution partner needs to continuously engage with the merchants to make sure they understand this value.</li>\r\n 	<li><strong>Who are the partners?</strong> <em>Alignment of stakeholders in the ‘value web’ is key for value creation and scalability</em>: All stakeholders need to be aligned to the central value proposition of the solution provider and there should be clarity on each stakeholder’s return on investment.</li>\r\n</ol>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\" bg_image=\"7841\"][vc_column][vc_row_inner css=\".vc_custom_1542359342440{border-bottom-width: 25px !important;}\"][vc_column_inner][vc_custom_heading text=\"From the CATALYST Incubator program \" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\" css=\".vc_custom_1542359410127{padding-top: 30px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]One of our partners in the Incubator program, PayNearby, has developed a full-fledged Aadhaar-based payment solution which converts any retail business into a micro ATM and payments solutions partner. While the primary earnings of the retailers come from the existing business, consumers are offered the option to make digital payments rather than pay in cash as they did traditionally.\r\n\r\nLet’s take the case of a photocopy shop. The primary income comes from photocopying and, possibly, a few add-on services such as binding, ticket booking, and so on. An additional service such as a digital payment solution, which has facilities like domestic money transfers, Aadhaar-based cash in and out, bills payments, etc., requires no major new infrastructure support (apart from a low cost biometric device which is provided free if a threshold of transactions are achieved) and can start within an hour of onboarding, facilitates extra income and converts merchants into Digital Pradhans.\r\n\r\nAnother case is that of our partner Fingpay which provides Aadhaar Enabled Payment Solutions (AEPS) for the last mile customer. It has successfully onboarded micro finance clients on its platform. In a typical scenario of a Microfinance Institution (MFI) model, borrowers, usually from joint liability groups or self-help groups, pay their monthly dues to the field agent in cash or through the group leader. However, with the Fingpay solution they will be able to transfer funds with just a biometric reading (AEPS). This use case has been the driver of this business case. While there are challenges due to connectivity and transaction failure, the value proposition considerably overrides the technical issues which are resolved due to measures undertaken by all stakeholders involved.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\"][vc_column][vc_row_inner css=\".vc_custom_1542359350051{border-bottom-width: 25px !important;}\"][vc_column_inner][vc_custom_heading text=\"The digital journey forward\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\" css=\".vc_custom_1542359421165{padding-top: 30px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]As we have observed from our field experiments, there are pertinent use cases whose relevance needs to be mapped, based on the target segments. The advancement and acceptance of digital solutions by different user groups will escalate when larger players include them into their core systems and create an easy access environment for end users. While there is an inherent need to provide financial access to every corner of the country, it requires support from larger financial institutions to take advantage of the innovation that has already been tested and leverage it to reach scale.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10px\" padding_bottom=\"10px\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265268713{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265795099{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/11/Developing-Business-Models-1.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"5\" padding_bottom=\"5\"][vc_column][vc_row_inner][vc_column_inner width=\"1/2\"][vc_column_text letter_spacing=\"\"][starbox id=21][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text letter_spacing=\"\"][starbox id=22][/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" disable_element=\"yes\" front_status=\"draft\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" column_gap=\"no\" padding_top=\"70px\" padding_bottom=\"50px\" margin_top=\"0px\" bg_image=\"9937\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1484826151396{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative seeded by an alliance between the Government of India &amp; USAID, to expand digital payments and financial inclusion in India, especially for small merchants and low-income consumers.</p>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'Developing Business Models for Mass Digital Payments in India', 'Developing business models for mass digital payments in a diverse country like India is a challenging task. It requires multi-stakeholder coordination to understand ‘adoption and acceptance’ challenges, develop and optimize innovative solutions and business models, answer the key question for merchants and consumers (what’s in it for me?), and consider future actions. ', 'inherit', 'closed', 'closed', '', '39336-revision-v1', '', '', '2018-11-19 07:13:07', '2018-11-19 07:13:07', '', 39336, 'https://cashlesscatalyst.org/media/39336-revision-v1/', 0, 'revision', '', 0),
(39385, 20, '2018-11-17 15:45:55', '2018-11-17 15:45:55', '[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/2018/11/Developing-Business-Models.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\" bg_image=\"7841\"][vc_column][vc_row_inner][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]Developing business models for mass digital payments in a diverse country like India is a challenging task. It requires multi-stakeholder coordination to understand ‘adoption and acceptance’ challenges, develop and optimize innovative solutions and business models, answer the key question for merchants and consumers (what’s in it for me?), and consider future actions. But, above all, there is a need to design an easy-to-use digital payments interface that can cater to the needs and financial capabilities of the last mile target population.\r\n\r\nCATALYST, as a multi-stakeholder initiative, followed an ecosystem approach to identify and operationalize business models relevant to the Jaipur market. We selected Jaipur as the target geography, given the existing infrastructure to support digital uptake such as availability of power supply, internet connectivity,  penetration of mobile phones, along with the general appetite and interest among locals to learn more about digital payments.\r\n\r\nIn recent times, the success of business models has been based on creating flexible value webs as opposed to static value chains. This means that the roles and responsibilities of players in the business model are not necessarily linear, rigid, and well-defined from the start, but evolve during the course of the engagement.\r\n\r\nWe took inputs and guidance from the Government of Rajasthan, private sector organizations such as banks, fintech solution partners, merchant community and their distributors, and consumer households. While creating a blueprint for business models for mass digital payments, we had to keep in mind the requirements and contributions of these stakeholders.[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_single_image image=\"39376\" img_size=\"full\" alignment=\"center\"][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\"][vc_column][vc_row_inner css=\".vc_custom_1542359333513{border-bottom-width: 25px !important;}\"][vc_column_inner][vc_custom_heading text=\"Payment digitization: the business use case\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"top\" css=\".vc_custom_1542359399750{padding-top: 30px !important;}\"][vc_column_inner][vc_single_image image=\"39371\" img_size=\"large\" alignment=\"center\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]As part of the value web of stakeholders contributing to widescale digital payment ecosystems, the solution provider who creates and runs the application should connect with both consumers and merchants. Secondly, the solution provider needs to achieve a critical mass of consumer uptake for the merchant to adopt the solution and, in turn, consumer uptake will be driven by merchant persuasion.  This dual edged sword makes it complicated for the solution provider to create a successful business model. There is also a need to match the business logic of the solution partner with that of other actors in the ecosystem who are key drivers of the model. Therefore, among the most important issues in creating sustainable business models in digital payment services is how to create value for consumers, and who to include in the value network.\r\n\r\nIn Jaipur, CATALYST helped solution partners to address these two major issues. We followed an ecosystem approach to support mechanisms such as creation of market linkages, governmental support, collection of ongoing field insights and advice on critical operational challenges. Following are the key questions that need to be answered to constitute a successful business model in mass digital payments based on our experience of working with solution partners on the ground in Jaipur since mid-2016:\r\n<ol>\r\n 	<li><strong>Who is the user?</strong> <em>Identification of the target segment and creating a niche or a ‘one-size-fit-all’ solution and customizing to specific segments</em>: One can choose to follow either of these routes for market acquisition.</li>\r\n 	<li><strong>Can the user self-onboard?</strong> <em>Assisted do-it-yourself for the Indian context</em>: Not just the rural but the urban poor too need handholding support to embrace technical evolutions. A fully automated system will not work in the Indian context. The solution provider should engage the merchant as the assisting agent and the focal point to nudge consumer adoption.</li>\r\n 	<li><strong>What are the hooks and ladders?</strong> <em>Levers to support scalability</em>: One thing that stood out from all our field insights is that digital payments alone cannot be a sustainable proposition. Alternate hooks such as credit, savings or incentives for uptake are necessary to encourage participation.</li>\r\n 	<li><strong>Where do we start?</strong> <em>B2B as a precursor to C2B</em>: Other very important drivers for merchants to volunteer to onboard consumers on digital payments are distributor buy-in and backing. A value proposition that has worked in different value chains such as FMCG, pharma and dairy in Jaipur is the digitization of B2B payments which invariably pushes the merchant to also encourage digital payments downwards in the value chain.</li>\r\n 	<li><strong>Why work with the government?</strong>  <em>Its blessing is an advantage if not a necessity</em>: It is clearly advantageous to have government support for the solution propagated. The best way to ensure that the ultimate consumer trusts the payment solution is if the government attests it.</li>\r\n 	<li><strong>What is the value proposition?</strong> <em>Consumer and/or merchant needs to see the value</em>: Ultimately the consumer is king and needs to see value in the solution beyond the freebies provided.  Merchants, on the other hand, need to make business sense of the whole proposition and ensure that going digital is profitable in order to engage the consumers. The solution partner needs to continuously engage with the merchants to make sure they understand this value.</li>\r\n 	<li><strong>Who are the partners?</strong> <em>Alignment of stakeholders in the ‘value web’ is key for value creation and scalability</em>: All stakeholders need to be aligned to the central value proposition of the solution provider and there should be clarity on each stakeholder’s return on investment.</li>\r\n</ol>\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\" bg_image=\"7841\"][vc_column][vc_row_inner css=\".vc_custom_1542359342440{border-bottom-width: 25px !important;}\"][vc_column_inner][vc_custom_heading text=\"From the CATALYST Incubator program \" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\" css=\".vc_custom_1542359410127{padding-top: 30px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]One of our partners in the Incubator program, PayNearby, has developed a full-fledged Aadhaar-based payment solution which converts any retail business into a micro ATM and payments solutions partner. While the primary earnings of the retailers come from the existing business, consumers are offered the option to make digital payments rather than pay in cash as they did traditionally.\r\n\r\nLet’s take the case of a photocopy shop. The primary income comes from photocopying and, possibly, a few add-on services such as binding, ticket booking, and so on. An additional service such as a digital payment solution, which has facilities like domestic money transfers, Aadhaar-based cash in and out, bills payments, etc., requires no major new infrastructure support (apart from a low cost biometric device which is provided free if a threshold of transactions are achieved) and can start within an hour of onboarding, facilitates extra income and converts merchants into Digital Pradhans.\r\n\r\nAnother case is that of our partner Fingpay which provides Aadhaar Enabled Payment Solutions (AEPS) for the last mile customer. It has successfully onboarded micro finance clients on its platform. In a typical scenario of a Microfinance Institution (MFI) model, borrowers, usually from joint liability groups or self-help groups, pay their monthly dues to the field agent in cash or through the group leader. However, with the Fingpay solution they will be able to transfer funds with just a biometric reading (AEPS). This use case has been the driver of this business case. While there are challenges due to connectivity and transaction failure, the value proposition considerably overrides the technical issues which are resolved due to measures undertaken by all stakeholders involved.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" padding_top=\"50\" padding_bottom=\"50\"][vc_column][vc_row_inner css=\".vc_custom_1542359350051{border-bottom-width: 25px !important;}\"][vc_column_inner][vc_custom_heading text=\"The digital journey forward\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23d11e3c|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" css_animation=\"fadeIn\" letter_spacing=\"\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" content_placement=\"middle\" css=\".vc_custom_1542359421165{padding-top: 30px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"ptext-justify lh22\"]As we have observed from our field experiments, there are pertinent use cases whose relevance needs to be mapped, based on the target segments. The advancement and acceptance of digital solutions by different user groups will escalate when larger players include them into their core systems and create an easy access environment for end users. While there is an inherent need to provide financial access to every corner of the country, it requires support from larger financial institutions to take advantage of the innovation that has already been tested and leverage it to reach scale.[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row equal_height=\"yes\" content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"10px\" padding_bottom=\"10px\"][vc_column width=\"1/2\"][/vc_column][vc_column width=\"1/2\"][vc_row_inner equal_height=\"yes\" content_placement=\"middle\"][vc_column_inner width=\"5/12\"][/vc_column_inner][vc_column_inner width=\"1/3\" css=\".vc_custom_1504265268713{padding-left: 0px !important;}\"][vc_column_text letter_spacing=\"\"][addtoany][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1504265795099{padding-right: 0px !important;padding-left: 0px !important;}\"][kleo_button title=\"Print this page\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/11/Developing-Business-Models.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row content_placement=\"middle\" type=\"color\" bg_color=\"#ffffff\" padding_top=\"5\" padding_bottom=\"5\"][vc_column][vc_row_inner][vc_column_inner width=\"1/2\"][vc_column_text letter_spacing=\"\"][starbox id=21][/vc_column_text][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_column_text letter_spacing=\"\"][starbox id=22][/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" disable_element=\"yes\" front_status=\"draft\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" column_gap=\"no\" padding_top=\"70px\" padding_bottom=\"50px\" margin_top=\"0px\" bg_image=\"9937\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1484826151396{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative seeded by an alliance between the Government of India &amp; USAID, to expand digital payments and financial inclusion in India, especially for small merchants and low-income consumers.</p>\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'Developing Business Models for Mass Digital Payments in India', 'Developing business models for mass digital payments in a diverse country like India is a challenging task. It requires multi-stakeholder coordination to understand ‘adoption and acceptance’ challenges, develop and optimize innovative solutions and business models, answer the key question for merchants and consumers (what’s in it for me?), and consider future actions. ', 'inherit', 'closed', 'closed', '', '39336-revision-v1', '', '', '2018-11-17 15:45:55', '2018-11-17 15:45:55', '', 39336, 'https://cashlesscatalyst.org/media/39336-revision-v1/', 0, 'revision', '', 0);
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(41142, 0, '2019-04-08 00:57:00', '2019-04-08 00:57:00', 'A new comment on the post \"The view from 10 months in..\" is waiting for your approval\r\nhttps://cashlesscatalyst.org/view-10-months-in/\r\n\r\nAuthor: apvpcom (IP: 190.97.165.116, cudrudru.ccipanama.com)\r\nEmail: pvp4lfa@yandex.ru\r\nURL: https://a-pvp.com\r\nComment: \r\nПривет. Наш site www.a-pvp.com продает различного химического оборудования и реактивов. \r\nВ продаже имеется ацетон, бром, Бромвалерофенон, Валерофенон, Пирролидин, Этилацетат. Благодаря которым вы можете синтезировать различные вещества, даже в домашних условиях. \r\nПирролидин требуется в различных сферах нашей жизни. Наш химический магазин быстро доставит вам любой реактив. \r\nВещества для химических исследований. Купить синтез альфы дома на нашем сайте a-pvp.com Произодство химической продукции. \r\nГде купить apvp бром мы подскажем вам. \r\nУ нас есть схемы по синтезу соль в домашних условиях с минимальными затратами на реактивы. 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наркотиков,\r\n\r\nApprove it: https://cashlesscatalyst.org/wp-admin/comment.php?action=approve&amp;c=12111#wpbody-content\r\nTrash it: https://cashlesscatalyst.org/wp-admin/comment.php?action=trash&amp;c=12111#wpbody-content\r\nSpam it: https://cashlesscatalyst.org/wp-admin/comment.php?action=spam&amp;c=12111#wpbody-content\r\nCurrently 172 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-95', '', '', '2019-04-08 00:57:00', '2019-04-08 00:57:00', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/catalyst-please-moderate-the-view-from-10-months-in-95/', 0, 'postman_sent_mail', '', 0),
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(27417, 12, '2018-09-28 16:22:25', '2018-09-28 16:22:25', '', '01', '', 'inherit', 'closed', 'closed', '', '01-8', '', '', '2018-09-28 16:22:25', '2018-09-28 16:22:25', '', 12168, 'https://cashlesscatalyst.org/wp-content/uploads/2018/02/01-2.jpg', 0, 'attachment', 'image/jpeg', 0),
(40010, 12, '2019-01-15 11:02:05', '2019-01-15 11:02:05', '[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=\"39430\"][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=\"USING COMIC BOOKS TO INCREASE DIGITAL FINANCIAL CAPABILITIES 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/2018/11/CH-Learning-Note-v2.pdf\" target=\"_blank\" style=\"custom\" position=\"left\" size=\"lg\" special=\"no\" border=\"no\" icon=\"print\" font_size=\"16px\" letter_spacing=\"\" el_class=\"grey-icon\" custom_text=\"#d11e3c\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_custom_heading text=\"INTRODUCTION\" font_container=\"tag:h2|font_size:26px|text_align:left|color:%23383b3b|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\"][vc_row_inner css=\".vc_custom_1537456868816{margin-bottom: 35px !important;}\"][vc_column_inner][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The 2011 Census of India reports a total of 65.49 million slum inhabitants living in 13.92 million households in India. Although India’s urban population has an estimated total of 33,510 slums, great variability exists in legal status, deprivation, living condition, type of structure, etc. The inhabitants of these slums are the urban poor and remain outside the ambit of formal finance. Conventional finance so far has not been able to serve this last mile, keeping them excluded from the financial system. Uptake of digital payments can greatly benefit these last mile consumers by facilitating faster and simpler financial transactions, thereby connecting them to formal financial channels. Recognizing this potential, CATALYST launched its pilot project in Bhatta Basti, an urban slum located on the outskirts of Jaipur city, Rajasthan. A migrant settlement with a population of 45,000 people and 1,000 households, it is predominantly a Muslim community where most of the population has low educational achievement.\r\n\r\nOur baseline study in 2017 indicated that digital financial capability of slum dwellers in Bhatta Basti was significantly low. Thus, CATALYST experimented with a range of collaterals to promote digital financial inclusion in Bhatta Basti and attempted to understand people’s attitude and perceptions towards each of these media. One such attempt involved using illustrated comic books to spread awareness and encourage adoption of digital payment solutions among people. Past research in the field had indicated that comic books may be a successful medium for sensitization on a range of\r\nissues because they appeal to people from various age groups. A study on digital financial inclusion conducted by Institute for Financial Management and Research -Leveraging Evidence for Access and Development (IFMR LEAD) in Mumbai’s Dharavi slums in 2012 used comic books for disseminating important information. The learnings from this study helped us in establishing important guidelines for designing our comics and their stories.\r\n\r\nA significant learning from the Dharavi study was that it is important to customize the comic books to the target audience. Use of characters and scenarios similar to those seen by the target audience every day is crucial to enable them to form a connection between issues they face and benefits of adopting digital payments. There exists a huge gap in awareness and access to financial services between men and women in low-income clusters and using women as protagonists in the stories may be more effective to reach out and impact women in lowincome clusters.\r\n\r\nUsing this learning as a guideline, we created and distributed three comic books over the course of three months: one on Automated Teller Machine\r\n(ATM) pin generation; one on Aadhaar Enabled Payment System (AEPS); and one on Unified Payments Interface (UPI) payments. The comic books\r\non ATM pin generation and AEPS had women as the main characters while the one on UPI payments had male protagonists.\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=\"39439\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"1. ATM PIN GENERATION\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\"]Our primary research in Bhatta Basti indicated that there existed a huge information gap related to the importance and correct usage of ATM cards. Many\r\npeople who had received ATM cards from the banks were unaware of how to generate an ATM pin and how to use the card to withdraw money. Further, people in this community had various misconceptions regarding the safety of ATM cards; they had been victims of various frauds due to which they lacked trust in digital payment platforms. Thus, we decided to provide a detailed explanation on how to generate an ATM pin and keep the account safe in our first comic book. We created two versions: one for men and one for women. Insights from the Dharavi study indicated that women tend to relate more to a story when female protagonists are used. Since women were a major section of our target audience, we decided to create two versions. A sample of what the “ATM Pin Generation” comic looked like is provided below:\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/2\"][vc_single_image image=\"39622\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_single_image image=\"39622\" img_size=\"full\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#373b3c\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"2. AADHAAR ENABLED PAYMENT SYSTEM (AEPS)\" 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\"]Another mode of digital payments that we promoted through comic books was AEPS. Since many people in Bhatta Basti faced problems related to access and usage of ATM cards, AEPS acted as a good alternative for enabling usage of digital payment solutions. AEPS allowed customers to pay by just scanning their fingerprint and thus was an easy solution for many people in Bhatta Basti who did not have access to ATM cards. One of our incubatees, Fingpay, worked on providing biometric devices to vegetable vendors and other small merchants and we distributed the comic books to the target audience to create awareness about these services. Since women formed a larger percentage of customers for these vendors, we decided to use female characters for our comics.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][vc_column_inner width=\"2/3\"][vc_single_image image=\"39993\" img_size=\"746*526\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/6\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#c9213b\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"3. UPI\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" el_class=\"normal-style \"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner el_class=\"normal-style\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The third comic book that we created and distributed was on UPI payments. This was mainly targeted at people towards the end of the digital payments user journey and sought to increase adoption and usage of UPI-based platforms such as PhonePe, Bhim UPI, WhatsApp payments, etc. The comic book contained step-by-step illustrations on how to register on such platforms and make transactions. It also focused on highlighting the advantages of using UPI, through a story format. Since our past research had indicated that the last stages of the digital payments user journeys in Bhatta Basti were male dominated, we decided to use male protagonists in this comic book. However, this learning cannot be universalized as selection of characters and stories should be context specific. Creating comic books to spread awareness should be grounded in the findings from that community.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][vc_row_inner][vc_column_inner width=\"1/2\"][vc_single_image image=\"39999\" img_size=\"728*520\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_single_image image=\"40000\" img_size=\"727*520\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][vc_empty_space][vc_row_inner][vc_column_inner width=\"1/2\"][vc_single_image image=\"40001\" img_size=\"922*540\" alignment=\"center\"][/vc_column_inner][vc_column_inner width=\"1/2\"][vc_single_image image=\"40002\" img_size=\"531*540\" alignment=\"center\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#c9213b\" padding_top=\"75\" padding_bottom=\"75\" inline_style=\"font-style: normal;\"][vc_column][vc_row_inner][vc_column_inner][vc_custom_heading text=\"3. UPI\" font_container=\"tag:h2|font_size:26px|text_align:center|color:%23ffffff|line_height:32px\" google_fonts=\"font_family:Roboto%20Condensed%3A300%2C300italic%2Cregular%2Citalic%2C700%2C700italic|font_style:700%20bold%20regular%3A700%3Anormal\" letter_spacing=\"\" el_class=\"normal-style \"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_row_inner equal_height=\"yes\"][vc_column_inner el_class=\"normal-style\"][vc_column_text text_color=\"#383b3b\" font_size=\"16px\" letter_spacing=\"\" el_class=\"lh22 ptext-justify\"]The third comic book that we created and distributed was on UPI payments. This was mainly targeted at people towards the end of the digital payments user journey and sought to increase adoption and usage of UPI-based platforms such as PhonePe, Bhim UPI, WhatsApp payments, etc. The comic book contained step-by-step illustrations on how to register on such platforms and make transactions. It also focused on highlighting the advantages of using UPI, through a story format. Since our past research had indicated that the last stages of the digital payments user journeys in Bhatta Basti were male dominated, we decided to use male protagonists in this comic book. However, this learning cannot be universalized as selection of characters and stories should be context specific. Creating comic books to spread awareness should be grounded in the findings from that community.\r\n\r\n[/vc_column_text][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"color\" bg_color=\"#ffffff\"][vc_column][vc_column_text letter_spacing=\"\"]\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">TECHNICAL WRITERS:</span> John Arun and Shubhranka Mondal</p>\r\n<p style=\"text-align: left;\"><span style=\"color: #da092b;\">ACKNOWLEDGEMENTS:</span> The authors would like to thank Jayshree Venkatesan for her expert advice, and CATALYST’s Feet on Street team, for their ground support</p>\r\n\r\n[/vc_column_text][kleo_button title=\"Download full report\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/11/CH-Learning-Note-v2.pdf\" target=\"_blank\" position=\"center\" size=\"lg\" type=\"boxed-icon\" special=\"no\" icon=\"download\" font_size=\"14px\" letter_spacing=\"\" el_class=\"pkirbtn\" icon_custom_background=\"#d11e3c\" icon_custom_text=\"#ffffff\"][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" padding_top=\"50px\" padding_bottom=\"50px\" bg_image=\"7886\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1484826151396{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative seeded by an alliance between the Government of India &amp; USAID, to expand digital payments and financial inclusion in India, especially for small merchants and low-income consumers.</p>\r\n\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_1484051069491{margin-bottom: 0px !important;}\"]\r\n<p style=\"text-align: center;\">[email-newsletter-plugin]</p>\r\n\r\n[/vc_column_text][kleo_icon icon=\"facebook\" href=\"https://www.facebook.com/CashlessCatalyst/\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"linkedin\" href=\"https://www.linkedin.com/company/13221050?trk=tyah&amp;trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A13221050%2Cidx%3A2-1-2%2CtarId%3A1476420479247%2Ctas%3Acashless%20catalyst\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"twitter\" href=\"https://twitter.com/cashlesscatalys\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][kleo_icon icon=\"youtube-play\" href=\"https://www.youtube.com/channel/UChuc38_PfawDOu44IfYS4lw\" target=\"_blank\" padding=\"15px\" icon_color=\"#ffffff\"][/vc_column][vc_column width=\"1/4\"][/vc_column][/vc_row]', 'USING COMIC BOOKS TO INCREASE DIGITAL FINANCIAL CAPABILITIES IN LOW-INCOME CLUSTERS', '', 'inherit', 'closed', 'closed', '', '39971-revision-v1', '', '', '2019-01-15 11:02:05', '2019-01-15 11:02:05', '', 39971, 'https://cashlesscatalyst.org/media/39971-revision-v1/', 0, 'revision', '', 0),
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INSERT INTO `in_posts` (`ID`, `post_author`, `post_date`, `post_date_gmt`, `post_content`, `post_title`, `post_excerpt`, `post_status`, `comment_status`, `ping_status`, `post_password`, `post_name`, `to_ping`, `pinged`, `post_modified`, `post_modified_gmt`, `post_content_filtered`, `post_parent`, `guid`, `menu_order`, `post_type`, `post_mime_type`, `comment_count`) VALUES
(40046, 20, '2019-01-15 13:28:50', '2019-01-15 13:28:50', '[vc_row content_placement=\"middle\" inner_container=\"no\" type=\"image\" bg_position_horizontal=\"center\" padding_top=\"96\" padding_bottom=\"96\" bg_image=\"12155\"][vc_column][vc_row_inner][vc_column_inner][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row type=\"image\" bg_repeat=\"repeat\" bg_attachment=\"true\" enable_parallax=\"false\" padding_bottom=\"0\" bg_image=\"10448\"][vc_column][vc_wp_custommenu nav_menu=\"63\"][/vc_column][/vc_row][vc_row equal_height=\"yes\" type=\"image\" bg_color=\"#ffffff\" bg_repeat=\"repeat\" bg_attachment=\"true\" enable_parallax=\"false\" padding_top=\"30\" bg_image=\"10448\"][vc_column][vc_row_inner equal_height=\"yes\" gap=\"30\" el_class=\"lnContainer\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1519195345948{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"40042\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/wp-content/uploads/2019/01/Comic-learning-note.pdf\"][vc_custom_heading text=\"Using Comic Books to Increase Digital Financial Capabilities in Low-Income Clusters\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fwp-content%2Fuploads%2F2019%2F01%2FComic-learning-note.pdf|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1547559067479{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writers: Nithya Srinivasan\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1547469646057{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"December, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1547469653452{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1519195533112{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"39803\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/strengthening-potential-digital-finance-women-bhatta-basti/\"][vc_custom_heading text=\"Strengthening the potential of digital finance for women in bhatta basti\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fstrengthening-potential-digital-finance-women-bhatta-basti%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1545566539870{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writers: Deepti KC\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1545895354180{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"December, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1545566609711{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1519195448838{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"39450\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/digital-lending-small-merchants-missing-road-last-mile/\"][vc_custom_heading text=\"Digital lending for small merchants: the missing road to the last mile\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fdigital-lending-small-merchants-missing-road-last-mile%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1542722764189{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writers: John Arun and Shubhranka Mondal\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1542722803475{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"November, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1542723317626{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1519195482884{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"38891\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/segmenting-low-income-cluster-digital-payment-solutions/\"][vc_custom_heading text=\"Segmenting low-income cluster for digital payment solutions\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fsegmenting-low-income-cluster-digital-payment-solutions%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1541403176185{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writers: Deepti Kc\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1541403188260{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"October, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1541402650943{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" gap=\"30\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1519195482884{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"26507\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/digitizing-dairy-b2b-supply-chain/\"][vc_custom_heading text=\"Digitizing Dairy B2B Supply Chain\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fdigitizing-dairy-b2b-supply-chain%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1537956128919{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writers: Tunisha Kapoor and Preethi Rao\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1537955384156{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"September, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1537523993141{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1523434422317{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"26362\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/leveragin-gst-for-digital-payments/\"][vc_custom_heading text=\"Leveraging GST for digital payments\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:https%3A%2F%2Fcashlesscatalyst.org%2Fleveragin-gst-for-digital-payments%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1537523945584{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writers: Mandar Kagade, Raghav Katyal, Janak Priyani, and Diksha Singh\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1537523972346{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"September, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1537523993141{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1519195345948{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"23078\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/merchant-perspectives-bhim-experience/\"][vc_custom_heading text=\"Merchant perspectives on the BHIM experience\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fmerchant-perspectives-bhim-experience%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1530709959894{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writers: Mandar Kagade, Janak Priyani, Diksha Singh and Raghav Katyal.\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1530785894602{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"July 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1530709001912{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1523434485038{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"13249\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/a-small-business-go-to-guide-for-going-cashless\"][vc_custom_heading text=\"A Small Business Go-To Guide for Going Cashless\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fa-small-business-go-to-guide-for-going-cashless|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1523434075142{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writers : Sapna Bharath and Gaurav Singhal\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1531132318660{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"April, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1523434039462{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" gap=\"30\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1537956108157{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #dd3333 !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"12146\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/women-in-ultra-poor-communities/\"][vc_custom_heading text=\"Women in ultra-poor communities &amp; their role in household financial decision making and digital participation\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fwomen-in-ultra-poor-communities%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519211203629{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writers: Maya Durvasula, Mridulya Narasimhan, NIdhi Punmia &amp; Vaisnavi Gnanasekaran\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519212224650{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"February, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1519205277484{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1537954927172{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #dd3333 !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"12152\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/how-digitally-ready-are-the-urban-ultra-poor/\"][vc_custom_heading text=\"How digitally ready are the urban ultra-poor?\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fhow-digitally-ready-are-the-urban-ultra-poor%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519196000899{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writers: Mridulya Narasimhan &amp; Nidhi Punmia\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519212249177{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"February, 2018\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1519205377288{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1537524096448{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"10808\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/catalyst-blog/catalysts-digital-payment-journey-jaipur-first-stop-barkat-nagar/\"][vc_custom_heading text=\"Catalyst\'s digital payment journey in jaipur first stop - Barkat Nagar\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fcatalyst-blog%2Fcatalysts-digital-payment-journey-jaipur-first-stop-barkat-nagar%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519195492063{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writer: Sapna Bharath\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519212273062{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"July, 2017\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1519205296777{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1541408971675{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #dd3333 !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"10470\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/catalyst-blog/decoding-jaipur-digital-payments-landscape/\"][vc_custom_heading text=\"Decoding Jaipur’s Digital Payments Landscape\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fcatalyst-blog%2Fdecoding-jaipur-digital-payments-landscape%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519195501591{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writer: Vinaina Suri\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519212423207{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"May, 2017\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1519205312907{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][/vc_row_inner][vc_row_inner equal_height=\"yes\" gap=\"30\"][vc_column_inner width=\"1/4\" css=\".vc_custom_1537956108157{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #dd3333 !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"12190\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/india-stack/\"][vc_custom_heading text=\"India Stack\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Findia-stack%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519195545508{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writer: Catalyst &amp; Dalberg Social Advisors\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1521211013662{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"January, 2017\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1519211213311{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1537954927172{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #dd3333 !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"12149\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/alternative-lending/\"][vc_custom_heading text=\"Alternative Lending\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Falternative-lending%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519195884538{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writer: Dalberg Social Advisors\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519212314365{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"January, 2017\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1519205362026{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][vc_column_inner width=\"1/4\" css=\".vc_custom_1537524096448{margin-bottom: 10px !important;border-bottom-width: 5px !important;padding-right: 0px !important;padding-left: 0px !important;background-color: #ffffff !important;border-bottom-color: #d11e3c !important;border-bottom-style: solid !important;}\"][vc_single_image image=\"12148\" img_size=\"full\" alignment=\"center\" onclick=\"custom_link\" link=\"https://cashlesscatalyst.org/digital-kirana/\"][vc_custom_heading text=\"Digital Kirana\" font_container=\"tag:h4|font_size:18px|text_align:left|color:%23040707|line_height:24px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:500%20bold%20regular%3A500%3Anormal\" letter_spacing=\"\" link=\"url:http%3A%2F%2Fcashlesscatalyst.org%2Fdigital-kirana%2F|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519195812190{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"Technical writer: Dalberg Social Advisors\" font_container=\"tag:h5|font_size:12px|text_align:left|color:%23040707|line_height:18px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" link=\"|||\" el_class=\"lnContainerTitle\" css=\".vc_custom_1519212314365{padding-right: 5% !important;padding-left: 5% !important;}\"][vc_custom_heading text=\"January, 2017\" font_container=\"tag:p|font_size:14px|text_align:left|color:%23a5a5a5|line_height:22px\" google_fonts=\"font_family:Roboto%3A100%2C100italic%2C300%2C300italic%2Cregular%2Citalic%2C500%2C500italic%2C700%2C700italic%2C900%2C900italic|font_style:400%20regular%3A400%3Anormal\" letter_spacing=\"\" css=\".vc_custom_1519205352303{padding-right: 5% !important;padding-bottom: 5% !important;padding-left: 5% !important;}\"][/vc_column_inner][/vc_row_inner][/vc_column][/vc_row][vc_row el_id=\"footer_area\" text_align=\"center\" type=\"image\" bg_position_horizontal=\"center\" enable_parallax=\"false\" padding_top=\"50px\" padding_bottom=\"50px\" bg_image=\"9937\"][vc_column width=\"1/4\"][/vc_column][vc_column width=\"1/2\" offset=\"vc_col-lg-offset-0 vc_col-md-offset-0 vc_col-sm-offset-0\"][vc_single_image image=\"7888\" img_size=\"full\" alignment=\"center\"][vc_column_text text_color=\"#ffffff\" font_size=\"14px\" letter_spacing=\"\" css=\".vc_custom_1526058044979{margin-top: 35px !important;margin-bottom: 5px !important;padding-right: 20px !important;}\"]\r\n<p style=\"text-align: center;\">CATALYST is an initiative funded by USAID under the mSTAR Program, through funding provided to FHI 360. Housed within IFMR LEAD, the initiative aims to expand digital payments and financial inclusion in India, especially for small merchants and low-income consumers.</p>\r\n\r\n[/vc_column_text][kleo_gap][vc_column_text letter_spacing=\"\" css=\".vc_custom_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]', 'Catalyst Publications', '', 'inherit', 'closed', 'closed', '', '12122-revision-v1', '', '', '2019-01-15 13:28:50', '2019-01-15 13:28:50', '', 12122, 'https://cashlesscatalyst.org/media/12122-revision-v1/', 0, 'revision', '', 0),
(41085, 0, '2019-04-02 04:37:35', '2019-04-02 04:37:35', '\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-29', '', '', '2019-04-02 04:37:35', '2019-04-02 04:37:35', '', 0, 'https://cashlesscatalyst.org/postman_sent_mail/form-fill-from-catalyst-website-29/', 0, 'postman_sent_mail', '', 0),
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(26290, 12, '2018-09-20 12:52:40', '2018-09-20 12:52:40', '', 'GST Learning Note', '', 'inherit', 'closed', 'closed', '', 'gst-learning-note', '', '', '2018-09-20 12:52:40', '2018-09-20 12:52:40', '', 0, 'https://cashlesscatalyst.org/wp-content/uploads/2018/09/GST-Learning-Note.pdf', 0, 'attachment', 'application/pdf', 0),
(39845, 12, '2018-12-28 13:48:56', '2018-12-28 13:48:56', '[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=\"\"]<p><strong>Resources</strong></p>\r\n<ul>\r\n<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/12/Bix42_10Dec-for-Access.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Bix42</a></li>\r\n<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/12/PayNearby-Cashless-Catalyst_FINAL_For-ACCESS-1.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Pay Nearby</a></li>\r\n<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/12/Pratyush-Fingpay-Access-Assist-Presentation.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Fingpay</a></li>\r\n<li><a class=\"pevents-link\" href=\"https://cashlesscatalyst.org/wp-content/uploads/2018/12/Puneet-2018-12-08-Kaleidofin-Access-Catalyst.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">Kaleidofin</a></li>\r\n</ul>\r\n[/vc_column_text][/vc_column][/vc_row]', 'Technical Session at Inclusive Finance India Summit 2018', 'Technical Session at Inclusive Finance India Summit 2018</br>\r\nDate: December 11, 2018</br>\r\nTime: 2 pm to 3:30 pm', 'inherit', 'closed', 'closed', '', '39512-revision-v1', '', '', '2018-12-28 13:48:56', '2018-12-28 13:48:56', '', 39512, 'https://cashlesscatalyst.org/media/39512-revision-v1/', 0, 'revision', '', 0),
(39839, 12, '2018-12-28 13:44:01', '2018-12-28 13:44:01', '[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][/vc_row][vc_row][vc_column][vc_column_text letter_spacing=\"\"]<p><strong>Resources</strong></p>\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]', '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 13:44:01', '2018-12-28 13:44:01', '', 39512, 'https://cashlesscatalyst.org/media/39512-revision-v1/', 0, 'revision', '', 0),
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