Govt to fund best ideas for taking digital payments beyond cities

What's the news?

The government recently invited proposals from startups and fintech firms to build solutions that will take digital payments to India’s semi-urban and rural areas. It gave companies until September 15 to submit detailed project ideas, and will now shortlist the best ideas and fund them.

More to know

The government said it was looking for things like voice-based digital payments solutions using mobile phones; local language apps for digital payments; and solutions for digital payments using feature phones. It said these are some areas in which past efforts have been unsuccessful and that need a new, innovative approach.