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> 1. A fraction of the Indian populace is so poor that the cost of operating a cash economy (printing currency, transporting it securely, stocking and operatin
by fractalb 4y ago
> 1. A fraction of the Indian populace is so poor that the cost of operating a cash economy (printing currency, transporting it securely, stocking and operating ATMS and bank branches) might prove forbiddingly expensive to service rural areas -- leading to financial exclusion. So, for them, digital infrastructure (which reduces cost of transacting) is a matter of life support, rather than the luxury that it is in the developed world (where everyone has bank accounts, access to cheap credit, and can swipe plastic cards everywhere).
So poor, but well-off for paying for mobile phones/laptops and internet, and educated enough to understand the app interface/language?
- ssivark 4y ago> So poor, but well-off for paying for mobile phones/laptops and internet Yup — physical infrastructure is often mind-bogglingly expensive in both capex and opex (and implicitly subsidized in developed countries, so it appears cheap). > educated enough to understand the app interface/language? They might be illiterate, but they’re not stupid. As humans, they’re perfectly capable of learning (especially social learning) when it’s important to them.
- cuteboy19 4y agoYes! Second hand mobiles are extremely cheap and most people do know how to operate one. The UI is quite easy actually