2nd BFSI Leadership Summit 2016 : Panel Discussion : Is cash no longer the king, are mobile payments accelerating?
Vaibhav Joshi, Senior Vice President, Digital Banking, Yes Bank Limited
“If there were efforts made to sensitise the merchant either by insentivising them or educating them, tremendous amount of change management is required. Such steps have been taken by government and as well by various private entities like Money on Mobile.”
KP Saha, Managing Director, Senrysa Technologies
“If you are dreaming about a totally cashless society, it cannot be overnight. It has to be in phases. I myself provide solution but my father hardly ever uses ATMs for transaction instead of visiting bank.”
Prasant P. Singh, Asst. Director General, UIDAI, NITI Aayog, Government of India
“The rural person should be able to use smart phone easily, without assistance, to be empowered. He should be comfortable to use device and should be able to use the money coming as subsidy from government. That will reduce cost of transaction also and be convenience to him.”
Ranjeet Oak, President and Chief Operating Officer, My Mobile Payment Ltd.
“It’s a very predominant mindset that I’m going to use cash and now I am going to shift to digital. That will happen only through education and literacy. Maybe we start with an assisted model where someone helps consumer in doing it to make it feel how simple it is.”