India’s Digital Payments Re-Revolution

Government‘s bid to get private companies to develop UPI-like technologies

Shopper making a mobile payment using QR Code. Photo by David Dvořáček on Unsplash

On 8 November 2016, Indian PM Narendra Modi made an unscheduled television address to announce the demonetization of ₹500 and ₹1000 banknotes.

There were prolonged cash shortages across the country and many people were left stranded in long queues…