Indian Institute of Technology Madras researchers will collaborate with members of the Mobile Payment Forum of India (MPFI) to develop voice-based solutions, especially in multiple vernacular languages, for digital money transactions. This will provide a platform not only for the increased adoption of digital payments in India but for research opportunities as well, says a release from IIT Madras.
At present, there are more than 100 million active UPI users every month in India, as per the Government of India’s statistics. These initiatives are being taken up by MPFI towards bringing 500 million active users on to the UPI payment platforms by 2025.
The MPFI is working to identify innovation across three levels; Human behaviour and adoption, Technology (design and safeguards), and policy (a data-centric view) to propel India over the next decade.