1 min read
22 Aug 2023, 06:10 PM IST
The UPI coupled with good network penetration in remote corners of the country and low data rates, have make it possible for a large section of the country to enjoy the benefits of digitization, says Jay Kotak
PremiumJay Kotak, son of billionaire Uday Kotak, Tuesday said India is transforming at a rapid pace due to technological development. Seamless payments across India tell the UPI success story. The UPI coupled with good network penetration in remote corners of the country and low data rates, have make it possible for a large section of the country to enjoy the benefits of digitization.
The vice president of Kotak811 gave his own example in a tweet shared on X. Jay Kotak said he has not carried his wallet anywhere in India this month as his smartphone takes care of everything. He used UPI to pay for everything from street snacks, medicines to restaurants bills. Even tips were given with UPI. Everywhere he made all payments through UPI.
For airport entries, Kotak did not need to carry any physical documents – “All ID & documentation via digilocker,” he wrote.
Jay Kotak also tells about the affordability of high speed data and internet access in India. He said a smartphone can be bought in less than ₹10,000, and high speed data is available at the lowest rates in the world. With good network penetration across the India.
“Technology is transforming India for all. Seamless payments and Verified ID are substantive enablers for even further progress,” tweeted Jay Kotak.
Earlier too Jay Kotak, has compared the US with India. Calling the US a “nation in decay.” “he says “flying to India feels like returning to a better place.”
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Updated: 22 Aug 2023, 06:10 PM IST
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