Will Cathcart of Whatsapp praised the Unified Payments Interface (UPI) system and described it as very important for Digital India and also said that it is time to invest in India.
New Delhi: Due to Coronavirus, the whole world is doing digital transactions. India too is no less at the moment. In the recent US-India Business Council, the Prime Minister said that today there are 500 million internet users, but still 500 million users are yet to be brought to the internet. For this, there is a need to reach the platform of Digital India so that people can use them. While praising Prime Minister Modi’s vision and Unified Payments Interface (UPI) system, Will Cathcart of Whatsapp said that the UPI system has played the most important role in the growth of Digital India.
Will Cathcart further said that Prime Minister Modi ( pm modi ) launched this system about 4 years ago to enable Indians towards digital payments and make the work of about 60 million small traders. In almost 4 years, the app became a resounding success with a 100 million user base. The biggest reason for its success was its rules which were made not by any one company, government or individual but by a group of about 100 banks. And all the world had to follow these rules for this app. The good thing is that the information about the transaction between the user and the bank was also private, no one else has any right over it.
Writing further about this, he wrote that people can support their old parents financially in this era of SOCIAL Distancing due to UPI. Migrant workers are able to send money to their family. And seeing the growing reach of upi, NPCI has set a target to add 500 million people to this app for the next 2 years i.e. by 2022.
Through this app, big tech companies (TECH COMPANIES) can work together with local tech leaders, financial institutions. Along with this, he wrote to India about the best market for investment, that even in this time of epidemic, I can easily see the economic progress of Bhantra and like Prime Minister Modi, I feel that there is no better time to invest in India. It is possible.