Digital Payments for the Digitally Excluded

With the advent of nearly-free internet services in India since 2016, many small business owners, hawkers, and street vendors have jumped aboard the UPI payments train. UPI, which stands for Unified Payment Interface, is a digital payment system backed by RBI and NPCI and has completely revolutionized the way these business owners conduct their businesses. They no longer have to hassle with customers for change. Even during peak hours, when many customers are availing their services, they do not have to stress about doing calculations mentally while exchanging money physically. A quoted amount is simply delivered directly into their bank account via the customers’ smartphone by showing them a QR code or dictating their phone number. Except for a few instances where, due to connectivity issues, the payments fail to get through, which is quite rare in 2023 given how well the network connectivity has improved throughout India. UPI is a safe and secure way to conduct financial transactions. With its multi-layered protection, users' financial information remains protected. It is also very easy and convenient. With just a few taps or clicks, a person can send and receive funds. But here is the catch; it is only easy and convenient for somebody who is comfortable using mobile devices and smartphones. For a person who is fairly new to technology, not well-versed with a smartphone, has to go through a bit of a learning curve to understand how to use UPI payment applications on their phones. Even though the internet has reached far-fetched corners of India, and mobile phones are being used regularly in these parts of the country, a large population of people is still wary of it. This is because when a person gets to hold the money, fold it, and put it in their pocket, it feels real as they can see it happening. Whereas, relying on a text message or a digital display to inform them that money has been transferred into their account does not seem very real. Using a smartphone is a big deal, especially for those who have not been introduced to computers and electronic gadgets until late in their lives. Now conducting businesses and financial transactions over these devices, it is only natural to be a little apprehensive initially. The problem is further complicated by the fact that most of these payment applications are in English, which is not a common language for small business owners, roadside vendors, and street hawkers. To make sense of these characters on their screen instantly becomes an intimidating task for them. Yet, they manage their way by either learning or memorizing the steps required for key functions, such as showing the QR code, receiving funds, checking transactions, and balances. Proxgy has stepped in at a pivotal junction to make sure that getting on board the UPI bandwagon is very easy for everybody who wishes to conduct their transactions digitally and also not see the world of digital payments as daunting. Proxgy’s simple solution lies in a wristwatch with a digital display. Kadi, a payment notification smartwatch that a person can put on their wrist, and go about their business as usual, even without a smartphone. The digital watch comes linked to their account from the bank. To receive payments, the wearer has only to press the crown once to display their QR code for the customer’s scanner, and in an instant, the amount of money received in their account is shown on the display prominently. With a thoughtful visual design, the user interface relies heavily on simple graphics which are intuitive for the users to understand and remember. The watch carries the basic features required for a regular vendor to conduct their businesses without any hassle. By removing smartphones from the equation and introducing a simple-to-use age-old device for the user, Proxgy has made sure that anybody who wants to conduct their business transactions in a safer, more secure, and more convenient manner should be able to do so, no matter their past experiences with technology or herein the lack of it. An affordable solution such as Kadi by Proxgy makes sure the last mile delivery of UPI payments in India.