Welcome to the May issue of ValueNotes Connect.
To quote from a recent report published by GSMA – By 2025 three in four mobile connections will operate on smartphones. There will be more than 10 markets in the world with over 100 million smartphone connections. These represent major addressable markets for e-commerce, fintech and a range of digitally delivered services and content. The report estimates that India will be the second largest smartphone market with a billion users by 2025.
India had 1.17 billion wireless subscribers at the end of 2017. Data usage per user grew exponentially, while prices fell to under 30 cents for a GB of data. This explosive growth in wireless data consumption will no doubt empower society – create jobs, stimulate financial inclusion, and promote better education, agriculture production, and health. We’re already seeing signs of significant social impact…
Due credit must be given to the Indian government’s Digital India initiative that has brought millions of unbanked people into the financial system through the Jan Dhan Yojana scheme, and the Unified Payment Interface (UPI) – a silent revolution in Indian banking. The latter is a network that allows anybody (or any phone) to send money to any other phone.
Do read about how we helped an international payment solution provider tap a USD 350bn opportunity in India.
As always, we hope you enjoy reading our newsletter, and we look forward to your comments.
How will wireless mobile empower India’s society?
by Nandita Harendra
|Twenty years ago, a telephone in an Indian home was a luxury (there were a mere 19 million subscribers in the country at the time). Today, pretty much everyone has a mobile phone. There’s been an explosive growth in data usage in the last year, and prices have fallen to under 30 cents for 1 GB of data. This growth in wireless data consumption will no doubt empower society – create jobs, stimulate financial inclusion, and promote better education, agriculture production, and health.|
Unified Payments Interface, a silent revolution in Indian banking
by Arun Jethmalani
|Banks are still awash with bad loans. Stressed balance sheets are limiting growth and the government is unable or unwilling to sell stakes in banks. So where’s the revolution? Think of UPI as a network that allows anybody (or any phone) to send money to any other phone. But why is that significant, leave alone revolutionary? Every person selling a service or product can now receive payments electronically. No need to install a device or understand new technology – all you need is a phone!|
Some client problems we have solved: