- Gossip provides clients with SMS, email, voice, IP messaging and chatbot development services.
- NPCIS had received applications from many banks, telecom and startups companies for this challenge.
May 14, 2020, 01:43 PM IST
new Delhi. All types of payment gateways are available in smartphones, but getting payment service in feature phones seems somewhat impossible. To make this possible, an Indian messaging platform won a one million dollar challenge. Under the challenge, they have to prepare a payment solution for the feature phones of the country.
It is being said that it will prove useful for those 500 million users who do not use smartphones. In this way, through this new feature, they will also be able to transact easily and safely. This solution will use API and encrypted SMS to make UPI payment from Bill Pay SMS, QR Codes and contacts.
Applications were found in many banks, telecom and startups
The National Payment Corporation of India, the Bill & Milinda Gates Foundation and the Center for Innovation Incubation and Entrepreneurship received applications from several banks, telecom companies and startups, but the winner of the challenge was Indian messaging service company 'Gossip'. The gossip business extends to the US and the UK, including India.
- The winners will receive pilot support in India from NPCI. In addition, they will also receive support from CIIE.CO's India Inclusion Initiative, which provides innovators using technology to build inclusive businesses, providing continuity in incubation, acceleration and seed-funding.
- The National Payments Corporation of India said that once feature phones are equipped with new technology for payment, the country will look at customers' behavior towards digital payments afresh.
- Priyanka Chopra, COO of CIIE said, “The need for flexible and easy-to-use contactless payment solutions for users across all sectors has become even more sensitive in today's environment. Pleased to see the diversity and simplicity of solutions Hui and we are looking for it to deal with the problem. “
- In addition, Pawan Bakshi (Financial Services India Lead) of the Melinda Gates Foundation stated, “This challenge supports the foundation's continuing effort to ensure that the poor have access to relevant formal financial products and services, which they use They do all they can to create a more prosperous and safe life for themselves and their communities. “