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This report is from this week’s CNBC’s “Inside India” newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse. Subscribe here.
Money seems to be moving a lot faster in India compared to the mobility of the people carrying out the transactions, and nowhere was that more evident than at the Global Fintech Fest in Mumbai’s Bandra Kurla Complex last week.
While delegates navigated traffic jams at India’s financial capital and dealt with a lack of last mile connectivity, inside the conference halls, product launches highlighted how transferring money had become as easy as sending a WhatsApp message.
Catalyzing that digital transformation is India’s Unified Payments Interface, or UPI, as it breaks out of its domestic sandbox and wires itself into the global money grid.
