Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do.

There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Tuesday, 3 January 2017

A Matter of Time

Hindustan Times carries following news reports :

* Jan 03 2017
BHIM downloaded 3 million times, top app in India: Kant

Indigenous digital payments app BHIM has been downloaded 3 million times and enabled over 5 lakh transactions since its launch, Niti Aayog CEO Amitabh Kant has said.

Bhim App - 3 million download since launch, No 1 on Playstore in India amongst all apps, over 500,000 transactions since launch. #MakeinIndia,” Kant said in a tweet.

In a bid to further push adoption of e-payments in the country, Prime Minister Narendra Modi on December 30 launched the BHIM app that will enable fast and secure cashless transactions using mobile phones.

Named after the architect of the Indian Constitution, Babasaheb Bhim Rao Ambedkar, the Bharat Interface for Money ( BHIM ) is a simplified payment platform designed to make Unified Payment Interface ( UPI ) and USSD payment modes simpler and usable across feature phones and smart phones.

Developed by National Payment Corporation of India (NPCI), BHIM is supported by host of banks, including State Bank of India, ICICI Bank, Axis Bank, HDFC Bank, Bank of India, Canara Bank, Kotak Mahindra Bank, Oriental Bank of Commerce and Punjab National Bank, among others.

The app, which can be downloaded from Google Playstore, is currently available in Hindi and English, and support for more languages is expected soon.

BHIM is interoperable with other Unified Payment Interface ( UPI ) applications and bank accounts.

*  Jan 04 2017

BHIM joins the digital Dangal

Where BHIM lags ................... 6 issues

*  Where BHIM is ahead.............. 5 issues

*  No of Users............................ Paytm ( 150 mn ) / MobiKwik ( 40 mn ) /
BHIM ( 3 mn )


Yesterday's Proverb  :  Necessity is the Mother of Invention

Today's Mantra        :  Competition is the Mother of Innovation

So , just wait to find out which Mobile Wallet comes up with the following " innovations " FIRST :

All bank accounts of a person ( in different banks ) become inter- operable / fungible ,
   through seamless interlinking , using Aadhar / UPI Interface in a Mobile Wallet
   No need to " select " a particular bank name

*  All transactions using a Mobile Wallet, automatically entered in BLOCK-CHAIN database
   commonly shared by ALL banks

*  Wallet based algorithm will  move funds across different bank accounts  for best yield ,
   constantly searching for best interest rates offered by banks on Fixed Deposits
   This will happen automatically , much like algorithm-based share trading , taking
   advantage of price differences in two bourses located 300 km apart ( in one thousandths
   of a second ! )

   No rocket science here considering availability of " BEST PRICE " apps for thousands of
   goods and services

   And since computing power of mobiles are doubling every 18 months ( Moore's Law ),
  nothing will stop algo-trading through a Mobile Wallet , as well ! ( Demat A/C on Wallet ? )

  If you have any doubts , read DNA ( 04 Jan ) report :

 " Samsung's upcoming flagship Galaxy S8 smart-phone can be connected to a screen with
   a keyboard and mouse, to give a desktop experience , and create a multi-tasking
   interface, presumably running on Google's Android mobile operating system "

*  And the day is not far when your Mobile Wallet will " read " the Serial Numbers of high
   denomination currency notes lying in your pocket / purse and total up the value ( - and
   inform the IT / ED ?

   {  http://myblogepage.blogspot.in/2016/12/to-catch-black-money-ask-google.html }

*  Of course , future Mobile Wallets will subsume within itself , ALL AUTOMATIC PAYMENT
    APPS , using which ( individually ) , currently I make following digital payments :

     #  Property Taxes / Locker Fees / Housing Society Charges / MTNL 

     #  Mahanagar Gas / Tata Power / YOU broadband / Vodafone / TATA Sky TV etc

   I expect , a future Mobile Wallet to take care of ALL my periodic dues, automatically

*  Without doubt , a future Mobile Wallet will need to serve all major regional languages

Equally important, all future Mobile Wallets will have to be SPEECH ENABLED

   Read :

   {  http://myblogepage.blogspot.in/2016/11/how-to-go-cash-less.html }

   The party introducing this feature first , will be the WINNER ! Rest will remain followers !

*  Then of course , as soon as Government introduces new plastic notes of Rs 500 / 1000 /
    2000 , duly embedded with RFID chips , a future Mobile Wallet will help tracking  of

   Read :

   {  http://myblogepage.blogspot.in/2016/11/embrace-inevitable.html  }

    Here is a hint :

    New one pound British coin " has a high security hidden feature built into the coin to
    protect it from counterfeiting in the future " ( Busi.Line / 04 Jan ) : May be RFID chip  ?

Let there be no doubt

Paytm / MobiKwik / FreeCharge / Itzcash / SBI Buddy and a dozen other Mobile Wallets , are not going to take it " lying down " from BHIM !

The jury is out !


04  Jan  2017

www.hemenparekh.in / blogs