Win $ 50,000 in a competition organized by the Gates Foundation
The most popular payment systems in India are based on the UPI interface created by the National Payments Corporation of India (short for Unified Payments Interface), which, however, does not work on most cheap smartphones used by the inhabitants of India.
Featurephone are cheap smartphones popular among less affluent residents, especially in Asia. However, they have some restrictions. For this reason, the Bill and Melinda Gates Foundation, in cooperation with the Indian Central Bank and business incubator CUT, organized the Grand Challenge competition for programmers and companies with $ 50,000 (nearly PLN 200,000) to be won.
Due to the population, India is a huge market, also in terms of mobile devices used. However, due to low wages, cheap phones (featurephons), which are currently used by half a billion users, are very popular in this Asian country. Manufacturers of both hardware and software take this aspect into account. This is mainly for about India Google has produced a lean version of Android called Android Go. However, users of cheap smartphones are still deprived of many useful functions, including contactless payments. Currently, one billion transactions are made through UPI every month. But only a million transactions are made using featurephones.
Applications containing suggestions for features working on featurephones can be submitted until January 12. On February 11, the authors of selected solutions will have access to the NPCI API, thanks to which they will be able to create working software within a month. Importantly, the competition is not territorially limited, so companies and developers from Poland can take part in it. The winners will be announced on March 14. In addition to the main prize, there will also be awards for second and third place, whose winners will receive 30 and 20 thousand dollars, respectively.
Details of the competition are available on the website Grand Challenge. The organizers will pay attention when choosing the proposed payment systems to such factors as security, the option of paying bills directly in the application, as well as solving problems in real time. The programs developed for featurephone are to be easy to install so as to encourage their users to use mobile payments. | allthingsblogging.com