There has been a strong national imperative to move towards a “cashless” economy in India. Despite a substantive impetus from public and private sector forces, the adoption and use of digital modes of payment in the country remains paltry. While the many virtues of going cashless have been widely extolled, there seems to be little understanding of what might be “barriers” that are impeding large scale adoption.
In our endeavour to get a hands-on perspective on some of the challenges and better appreciate issues towards enabling a cashless environment, as part of the i-Innovate initiative, we set up and operationalised a market-prevalent digital payment channel (through mobile wallet) for paying for meals and other purchases at our office cafeteria (our proverbial backyard if you may). The goal of the experiment was to better understand the extent to which popularly perceived barriers in adopting a new mode of payment existed, from the perspectives of the vendor as well as consumers.
For more on this story visit the following: Digitising Payment in our backyard