Digital payments set to take off this year: TRAI chief


Banking should become as easy as making a mobile phone call and this year could see digital payments take off in India in a big way with the entry of telecom companies as payment banks, said R.S. Sharma, Chairman of Telecom Regulatory Authority of India.A low-cost model would attract even those at the bottom of the pyramid to digital payments and banking, Mr. Sharma said. “My belief is that if you can have banking at very low cost, similar to what you have for mobile top ups in the telecom space (for prepaid sim cards)…whose average value is Rs 10,” Mr. Sharma told The Hindu.

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