IND-e-Cash addresses the challenges faced to make financial transaction digital:
The current digital solutions are Mobile Based or online Card based systems.
Inconsistent internet connectivity in the rural hinterland leads to lower Transaction success rate & duplicity of transactions, shopkeepers avoid POS/BHIM, prefers cash.
Low Literacy levels make the understanding of using USSD (*99#) in feature phones, difficult, besides telecom charges & time consuming.
Majority population has no access to smartphones. This impacts adoption of Mobile based apps including BHIM, in these areas.
The majority of women in rural areas, who handle most of household purchases within the village, do not even have a feature phone.
Natural solution overcomes this limitation as we have observed 100 % success rates in Transactions during the Sand Box Testing with RBI at different villages across India.