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Tiny, cheap smart speakers unlocked the rise of digital payments in India

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Re: Tiny, cheap smart speakers unlocked the rise of digital payments in India

#41
post #30

Earlier quoted context omitted.

Yes right. > The 48-year-old, who can neither read nor write, would need to call his son to confirm that the payment had been received. Looks like the author made up a narrative. These vendors definitely can read numbers, they manage loads of cash through the day. They do lightening fast calculation in their head - which would put a Math grad student to shame. They may not be able to read, write English (or other lan…

I wouldn't be so sure about the author making up the narrative, it very well could be real but it is definitely not the majority. I get what you are saying, but none of this would put "a Math grad student to shame". If you really think it does, you definitely have no clue what grad students do - sincerely, a grad student whose best friend is a math grad student.

I saw college students (not indian) fail to answer basic arithmetic questions like 50-13 stuff like that.

He meant they do basic calculations very fast with out a calculator.

Re: Tiny, cheap smart speakers unlocked the rise of digital payments in India

#42
post #7

Earlier quoted context omitted.

I thought you were joking about India surpassing the US in literacy rates, and then I looked it up. It's 75 - 85% depending on how you count. What?! How is this number not 99.9%? Developed countries are at 100% or minus rounding error. Even Canada is at 99%, and that's next door. What is going on in the US?

I was stunned to learn that the average American reads at a 5th grade level. It's true though. I've been wondering why for a while, since it explains so much... Here's my best guess: 13 million children face daily hunger, and politicians fight to take away school lunches. Hungry kids don't learn too good. Fear porn is blasted over every corporate media outlet constantly, to the point where it saturates culture. Peopl…

Your post includes some good commentary identifying issues with the educational system, specifically about fostering a healthy, effective learning environment as well as commentary about mis-allocating resources. However, it also includes lots of specific blaming and accusations which, to me, distracted from the helpful elements.

I'm curious if you think the best path forward would be to keep pushing for the federal government to do better with education, or if it would be better to empower more local entities to improve. This could be state, county, or city governments, or even private school systems.

Re: Tiny, cheap smart speakers unlocked the rise of digital payments in India

#43
post #3

I visited India a few times in the last 9 months after digital payments had taken off due to COVID and can attest that these have been game changers that have led shopkeeps to accept e-payments. More than anything to do with literacy, this basically allows Shopkeeper to keep doing what they are doing without fiddling with their phones etc to confirm they received money. The device just says the amount received out lo…

Just to add to this, digital payments in India got popular well before COVID, significantly increasing after the demonetization charade (which imo was a bad decision and total chaos).

Demonetization induced usage reduced once cash was back in circulation. It was COVID era fear of touching cash and compulsion of lockdowns that really made digital payments hit the stratosphere.

Re: Tiny, cheap smart speakers unlocked the rise of digital payments in India

#44
post #3

I visited India a few times in the last 9 months after digital payments had taken off due to COVID and can attest that these have been game changers that have led shopkeeps to accept e-payments. More than anything to do with literacy, this basically allows Shopkeeper to keep doing what they are doing without fiddling with their phones etc to confirm they received money. The device just says the amount received out lo…

After reading this article so much makes sense. I’m currently at the end of my annual trip here seeing family and I have been hearing these things all over the shop.

I didn’t pay much thought to it until now if I am honest. Genius and great to see tech companies do something to actually help people solve real world problems.

Re: Tiny, cheap smart speakers unlocked the rise of digital payments in India

#45
post #3

I visited India a few times in the last 9 months after digital payments had taken off due to COVID and can attest that these have been game changers that have led shopkeeps to accept e-payments. More than anything to do with literacy, this basically allows Shopkeeper to keep doing what they are doing without fiddling with their phones etc to confirm they received money. The device just says the amount received out lo…

This makes so much more sense than illiteracy. The phone app could just have a thumbs up with a number or a thumbs down, after all.

It suggests having a tv-like display would work about as well, and be less noisy / distracting.

Re: Tiny, cheap smart speakers unlocked the rise of digital payments in India

#46
post #45
post #3

I visited India a few times in the last 9 months after digital payments had taken off due to COVID and can attest that these have been game changers that have led shopkeeps to accept e-payments. More than anything to do with literacy, this basically allows Shopkeeper to keep doing what they are doing without fiddling with their phones etc to confirm they received money. The device just says the amount received out lo…

This makes so much more sense than illiteracy. The phone app could just have a thumbs up with a number or a thumbs down, after all. It suggests having a tv-like display would work about as well, and be less noisy / distracting.

What do you think is cheaper, a touch display with a a chip that can render graphics etc or a speaker playing an audio stream from a webservice?

Re: Tiny, cheap smart speakers unlocked the rise of digital payments in India

#47
post #43

Earlier quoted context omitted.

Just to add to this, digital payments in India got popular well before COVID, significantly increasing after the demonetization charade (which imo was a bad decision and total chaos).

Demonetization induced usage reduced once cash was back in circulation. It was COVID era fear of touching cash and compulsion of lockdowns that really made digital payments hit the stratosphere.

Pre COVID transcations per month stood at 1.5b and now at 8.5B.

COVID might have convinced few people that's all.

Demonetization's effect is not clear since UPI came out just a year before Demonetization took place.

It took off because of young generation and costs nothing as simple as that. They forced businesses and other to embrace it.

Fun fact, i have been using UPI ever since it came out and used to pay for coconut/veggies with it even back in 2017

Re: Tiny, cheap smart speakers unlocked the rise of digital payments in India

#48
post #40

video of it in action (english subtitles) https://www.youtube.com/watch?v=qUR84Qz0KbM

So the merchant has to buy/rent a device. I expected it to be phone-to-phone for such wide acceptance.

[dead]

Re: Tiny, cheap smart speakers unlocked the rise of digital payments in India

#49
post #40

video of it in action (english subtitles) https://www.youtube.com/watch?v=qUR84Qz0KbM

So the merchant has to buy/rent a device. I expected it to be phone-to-phone for such wide acceptance.

from my research, here is what I've found:

1- The govt insists the payments be done on their national backbone, which works on 0 markup, so companies have to find different avenues for revenue

2- The device is essentially a mobile phone with no display(newest version has a small pocket-calculator sized lcd, but most do not) and just four buttons: power, volume up, volume down, and repeat last message. It takes a SIM and has a rechargeable battery and a loud speaker.

3- This means essentially operators a renting a very specialised "dumb-phone"; one which has a simple audio output but no input (and thus access) to the actual app. They can leave this "phone" out in the public, while keeping their smartphone separate and secluded.

4- The device rent is lowered or even waived if you have a high-enough transaction volume. So for people who have a low usage, they can stick with checking their phone; for people with more frequent usage, it pays for it self.

----

I see a lot of benefits for this. AFAIK, each device is keyed to the user, so stealing it not beneficial, but even if some one did, no can use it to access the app or your funds, since all it does is receive confirmation SMS.

There no training involved, and more importantly, no handover of a device anytime you to step away from a counter; anyone can take over and just listen to the confirmation message.

one benefit the article mentioned is that people would dupe the seller by showing fake screenshots of a transaction, how that was eliminated by the device; no sound message, no payment.

But the best benefit is the multi-tasking; you can use your hands and eyes to keep focused on the task at hand while using your ears to keep track of payments. Imagine a food-stall seller having to wipe their grease/sauce covered hands and fiddle with a slippery phone, anytime a customer paid, it would never work.

Re: Tiny, cheap smart speakers unlocked the rise of digital payments in India

#50

Earlier quoted context omitted.

I was stunned to learn that the average American reads at a 5th grade level. It's true though. I've been wondering why for a while, since it explains so much... Here's my best guess: 13 million children face daily hunger, and politicians fight to take away school lunches. Hungry kids don't learn too good. Fear porn is blasted over every corporate media outlet constantly, to the point where it saturates culture. Peopl…

Your post includes some good commentary identifying issues with the educational system, specifically about fostering a healthy, effective learning environment as well as commentary about mis-allocating resources. However, it also includes lots of specific blaming and accusations which, to me, distracted from the helpful elements. I'm curious if you think the best path forward would be to keep pushing for the federal…

How does Finland do it? Copy them as much as possible, since it's clearly working. Gaps in Finlands system? Pay experts to figure it out. I don't claim to be an expert - you don't need to be, to see how bad the current system is.

If we can afford $20 trillion on interest payments for illegal wars on the other side of the planet, we can figure out how to fund schools.

Not sure what you mean by "specific blaming and accusations" - there are real forces fighting back against educating children in a safe and happy environment.

They're not even that sneaky about it. Pretending that extremely well funded and organised and power groups are not, for example, banning books, abortion, cutting school funds, cancelling school lunch programs, giving millions in TANF funds to dried out quarterbacks, etc, etc, is like ignoring the termites eating away at the foundations of your house while spending all your money on grenades to protect from home invaders.

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