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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.
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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.