128: How Digital Payments Are Revolutionizing India ft. Infosys Chairman and Co-Founder Nandan Nilekani
The Bid
The Future of ID and Payments
With mobile prices dropping, mobile is going to be ubiquitous. Everybody already has the ID. UPI is expected to go to one billion transactions a day from about 300 million now. We think that will democratize credit to millions and millions of businesses who didn't get access to credit. So that's one big idea. Where else do you see innovation around ID and payments like this nowhere?
Over the past 14 years, India has undergone a digital transformation that has caught the attention of the world: It has built a digital identity system that has created unique IDs for over a billion Indian people and launched a digital payment system that has revolutionized consumers’ access to financial services and healthcare. Host Mark Wiedman is joined by Nandan Nilekani, Co-founder and Chairman of Infosys to talk about how the country is building a digital public infrastructure that brings new economic growth for society
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