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I find it amazing that India doesn't have a more digitized form of payment available. I wonder when they will be able to have mobile pay available on their phon

• puranjay 11y ago
  Indian banks are notoriously stringent with who they give out credit cards to, especially if you run a business or are self-employed (which is the majority of Indians). I'm self-employed and even though I probably make 2x of what a salaried guy makes in my position, I regularly get declined for credit cards. Some of this is the lack of data. Until a few years ago, there wasn't even a way to check my credit score. Even today, the credit score is an idea very few Indians are familiar with. This situation isn't going to change any time soon. Indian credit card users actually fell by several million after banks tightened lending norms even further following the 2008 crisis. For now, cash still rules here.
• Pharaoh2 11y ago
  India already does. For that fact mobile and card payment is a lot better executed than in USA. The difference is that it's a more recent happening and that is why they could learn from the mistakes of others and improve things. The problem is that a large part of the population grew up using cash and are more comfortable with it than with any form of mobile/card payment. The younger generation will prefer cashless transactions but being cashless only will leave a large part of the market alienated.