Skip to main content

MeitY launches Digital Payment Suraksha

Ministry of Electronics & Information Technology (MeitY), in association with Google India and DSCI (Data Security Council of India) today launched the ‘Digital Payment Suraksha’ – an awareness campaign towards promoting safe and secure digital transactions. The imitative was launched by Shri Alphons KJ, Hon’ble Union Minister of State, Electronics & Information Technology and Minister of State (Independent Charge) Tourism in the presence of Shri Ajay Prakash Sawhney, Secretary, Ministry of Electronics & Information Technology, Mr. Chetan Krishnaswamy, Director Public Policy at Google India, Ms. Rama Vedashree, CEO, Data Security Council of India and Dr. Sanjay Bahl, Director General, CERT-In.

The Digital Payment Suraksha is an initiative that has a two-pronged approach mutually complementing each other. First, the Digital Payment Security Awareness Campaign, aimed at spreading awareness around security aspects of digital payments in the society, penetrating it to communities such as traders, micro and small businesses and citizens at large.  Secondly, Digital Payment Security Alliance, to bring all stakeholders on a common platform and progress together in building up a sustainable ecosystem of digital payment security in the country.

Speaking on the occasion, Shri Alphons KJ said, “India, under the leadership of the honourable Prime Minister Shri Narendra Modi, has embarked on a journey to become the biggest digital economy in the world. So far, we have witnessed a total of 1164 crore digital transaction this year, and by the end of the year the number is expected to touch 1800. Aadhaar has given every Indian an identity. One can link Aadhaar with all the digital payment platforms so that the citizens are protected. However, the biggest achievement of this digital payment system has been that it ensured that the fruits of development reached the last man out there.”

Shri Ajay Prakash Sawhney said, “We have been undertaking several measures and promoting certain instruments to popularize Digital Payments. The very first instrument that we are promoting is to augment the Digital Payment Acceptance Infrastructure, so that both the payer and the accepter have a convenient means to pay and accept payment digitally. The number of POS machines with the merchants are now around over 3 million, which went up from 1.5 million which in the pre-demonetization period. We are going to provide another 2 million POS machine in a short period. But, still there will be a huge gap. We are working with NPCI and banks to come out with solutions so that every merchants in the country get connected with some Digital Payment Acceptance Infrastructure.”

Given the recent momentum on digital payments and government’s drive for a ‘Less Cash Economy’, enterprises and consumers are coming together to help India leapfrog into a digital economy. The Government, financial services and digital payments industry have embarked on several initiatives to drive digital payments. Various institutions and enterprises spearheading Financial Inclusion and Digital Payments are also supporting the initiative. 


Popular posts from this blog

Cloud Computing powering India’s priority of ‘Digital-first country’

By: Sunil Mahale, India MD and VP, Nutanix
Digital transformation has been recognized as being vital to the growth of our nation. This transformation has enjoyed the unanimous approval and contribution from all stake holders including enterprises, MSMEs, government bodies and citizens. But this level of adoption in a country with a population of over a billion people would need a robust technology base that is capable to collecting and distributing vital data seamlessly.
Digital India envisions creating high speed digital highways, that will impact commerce and create a digital footprint for every individual. Technologies based on mobility, analytics, Internet of things and most importantly, cloud technologies are the building blocks for the digital India missionThere is a growing need to manage huge volumes of data, and making them readily available to public through digital cloud services. Cloud has a pivotal role in enabling this change.
While Data centers have become crucial to th…

RevStart launches its RevItUp Incubation Programme

Underlining its vision of creating a nurturing ecosystem for start-ups to grow in, RevStart, a co-working and incubation centre, has announced the launch of its RevItUp Incubation Programme. The 12-week long programme will be held at RevStart Incubation Centre in Noida from July 1, 2018 onwards. As part of the programme, RevStart will select five high potential start-ups from the ed-tech sector, AI, Consumer Internet, Sustainability, as well as for-profit social impact companies to assist them with developing their business, along with connecting them to global mentors across industries and sectors. In addition, start-ups selected for the programme will receive INR 5 lakh to Rs. 25 lakhs worth of cash and benefits, while RevStart will get an equity stake in the ventures.
The RevItUp Incubation Programme has been created to enhance the founding team’s industry, product, and company building knowledge and capabilities through a world-class curriculum. The programme will focus on tailor…

Insurtech startup Kruzr raises $1.3 Million from Saama Capital and Better Capital

InsurTech startup Kruzr has raised 1.3 Million USD (Rs. 9.5 Cr) for its seed round led by Saama Capital with participation from Better Capital. Kruzr is a preventive motor insurance technology which helps insurance companies personalize policy premiums & improve their risk model by delivering an engaging preventative driving assistant to their customers. Kruzr is founded by Pallav Singh, Ayan, and Jasmeet Singh Sethi.

Kruzr blends the power of voice technology and artificial intelligence in its personal driving assistant that helps drivers minimize mobile distractions, drowsy driving, speeding and external risks like weather and accident-prone zones. In pilots with insurers, Kruzr managed to cut down distracted driving by 80%. Kruzr is working with motor insurance companies in Europe, UK and India to bring its technology to their customers to prevent accidents & improve claims.

“Road accidents cause over 1.3 million deaths globally every year, and motor insurance companies los…