Budget Raction by Rahul Gochhwal Co founder Trupay, digital payment app, based on United Payment Interface (UPI)

Posted by: at 2/01/2017 12:23:00 am


GAME CHANGER BUDGET FOR DIGITAL PAYMENTS ECO SYSTEM

WILL TRANSFORM INDIA INTO LESS CASH ECONOMY

Budget Raction by Rahul Gochhwal Co founder Trupay, digital payment app, based on United Payment Interface (UPI)

Budget Raction by Rahul Gochhwal Co founder Trupay, digital payment app, based on United Payment Interface (UPI)


New Delhi/Mumbai/Bengaluru- February 1, 2017  The Finance Minister Arun Jailtly in its budget for 2017-18 has shown its clear intent of move towards cashless economy. Proposal of introducing 20 lac Aadhar based Point of Sale (POS) machine will be a game changer for digital payments ecosystem in the semi-urban and rural areas where conventional POS machines are absent and people do not have access to mobile phones.

“Though it remains to be seen if the proposed setting up of Payments Regulation Board under RBI  and amendments in the Payments and Settlement Act will bring about fundamental changes to accommodate the fast changing digital payments ecosystem in the country.” Said Mr Rahul Gochhwal, co-founder, Trupay, the Digital Payment app based on UPI in his budget reaction.

“The budget will help Transforming India into a less cash economy to tackle the issue of corruption and clean up the system is one of the integral strategies of the government.” Said Mr Gochhwal

“ Digital payment infrastructure would be strengthened, along with the grievance handling system”. Up gradation of digital infrastructure will encourage non-cash payments “ he added.


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