Categories
-Top News India News Tech Lite

India’s Digital Revolution Praised by UNGA President

At a DPI conference by India’s UN mission, he praised India’s digital infrastructure for empowering millions towards financial independence…reports Arul Louis

India exemplifies how the digital revolution can be made accessible to millions and become “a fundamental driver of social transformation and progress”, according to UN General Assembly President Dennis Francis.

“Models like the Citizen Stack (of India) should be embraced and replicated across countries in the Global South – supporting and empowering people, particularly the most vulnerable in our communities, in the true spirit of leaving no one behind,” he said on Thursday.

Speaking at a conference on Digital Public Infrastructure (DPI) hosted by India’s UN mission, he recalled his visit to India in January, when, he said, he saw the rapid expansion of digital public infrastructure that has removed many barriers and “enabled millions to achieve financial independence and prosperity”.

“In just seven years, India’s digital public infrastructure model has achieved over 80 per cent financial inclusion for its citizens, and now accounts for more than 60 per cent of all digital transactions worldwide,” he said.

At the conference, India showcased its Citizen Stack, the pioneering DPI, that provides seamless interoperability between various functions, from identity (for example, Aadhar) and payments (like UPI and Walmart’s PhonePe) to health (Sanjeevani) and public services delivery.

India’s Electronics Minister Ashwini Vaishnaw in a video message said, “India believes in the ethos of ‘One World, One Family, One Future’ (and) consistent with our ethos, we offer our Citizen Stack to the world.”

“The G20 summit in New Delhi last year recognised the transformative power of DPI and following this, India took the initiative to establish a global repository for DPIs currently housing over 55 DPIs from 16 countries,” he said.

“India has pledged $200 million to a social impact fund that will accelerate DPI adoption globally, especially in the developing countries,” he added.

In the digital universe, India’s DPI is unique because unlike the commerce-driven systems predominating the West or the closed government-controlled model in China, India’s DPI provides an open digital infrastructure with guardrails that the private and public sectors can use.

India’s Permanent Representative Ruchira Kamboj said, “India’s journey offers powerful lessons for other nations embarking on digital transformations emphasising a design approach focused on shared building blocks to spur innovation across ecosystems.”

“We invite you to engage with us, let’s stack up the benefits worldwide, and help millions more,” she said, “achieve their dreams”.

To evangelise the DPI model, India’s UN Mission is holding one-on-one sessions on Friday for countries that are interested in adopting it.

Amitabh Kant, who was India’s Sherpa for the G20 Summit, said that India was offering a “modular open source identity platform” that can be adopted by any country’s needs.

“Do not replicate what India has done,” he said. “If you want to transform the lives of citizens like India, you can use the model based on your own country’s ethos in a manner so that you can transform the lives of your citizens.”

ALSO READ: Pakistan Accuses US of Double Standards in Human Rights Reporting

Categories
Business Tech Lite Technology

HaodaPay Fueling India’s Digital Revolution

At the forefront of India’s digital payment landscape, HaodaPay is an accredited partner for BBPS Operating Unit across the nation and a leading player in South India…reports Asian Lite News

In an era where digital transactions are gaining momentum, HaodaPay, in association with Axis Bank, presents the Bharat Bill Payments System (BBPS), a revolutionary government product by the National Payments Corporation of India (NPCI).

 Spearheading the success of renowned products like UPI and Fast Tag, HaodaPay is committed to making merchant and billing transactions go digital, bolstering India’s economic growth, and supporting the nation’s vision of becoming a cashless society.

At the forefront of India’s digital payment landscape, HaodaPay is an accredited partner for BBPS Operating Unit across the nation and a leading player in South India. With a strong partnership network including Axis Bank, Yes Bank, Federal Bank, and Indian Bank, HaodaPay has successfully onboarded over 10,000 merchants in the B2B and B2C payment industry. Their expertise lies in offering a comprehensive suite of payment solutions, from UPI payment collections to various domestic payout options such as NEFT, IMPS, RTGS, and UPI.

Emphasizing the advantages of choosing BBPS, HaodaPay brings forward several compelling reasons for businesses to adopt their platform:

Nationwide Branding & Visibility: Merchants onboarded through HaodaPay enjoy nationwide branding and visibility. Their logos and business names are featured in popular apps like PayTM and GPay, reaching millions of users, and also appear in major banking portals.

Cost-Effective Solution: Unlike traditional payment gateways, HaodaPay’s charges are comparatively lower, making it an attractive choice for businesses seeking cost-effective solutions. Additionally, its high success rate ensures seamless transactions for merchants and customers alike.

Easy Reconciliation & Tracking: HaodaPay simplifies payment reconciliation and tracking through timely alerts and user-friendly dashboards. This feature enables businesses to stay on top of their financial transactions effortlessly.

Security and Compliance are paramount to HaodaPay’s operations. Holding ISO certifications (ISO 27001, ISO 20022, and ISO 9001), the company conducts regular industry-grade security audits, such as PCI DSS, ensuring the system remains fully compliant with industry standards. This commitment to security reassures merchants and customers alike, fostering trust in digital transactions.

HaodaPay’s overarching goal is to contribute to India’s digital revolution and economic growth by reducing the reliance on cash. The company serves a diverse range of merchants, including educational institutions, tuition centers, coaching institutes, housing societies, and OTT app businesses. By joining hands with HaodaPay, these entities can collect subscription payments efficiently from their subscribers, supporting the broader vision of a cashless India.

Beyond the educational sector, HaodaPay extends its customized solutions to various other B2B and B2C industries, such as logistics, agriculture, retail, and eCommerce. Its technical integration and support ensure businesses can efficiently manage wholesale and recurring payments from their customers at a competitive price.

To learn more about HaodaPay and the BBPS, visit their primary website at https://www.haodapayments.com . For specific information about BBPS, visit https://www.bharatbillpay.net .

HaodaPay, in partnership with Axis Bank, presents a compelling solution through the Bharat Bill Payments System, propelling India towards a digital future. With a focus on secure, cost-effective, and convenient payment solutions, HaodaPay is shaping the digital landscape and driving the nation’s transformation into a cashless society. Embracing the vision of a Digital India, HaodaPay stands at the forefront, empowering merchants and customers to embrace a secure and efficient digital payment ecosystem.

ALSO READ: Asian markets down after Fitch downgrades US debt