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1. Merchants (extreme)
2. Consumers (extreme)
3. Banks (organization - actor)
4. Network providers (organization - actor)
5. Phone companies (organization - actor)
6. Software/ App developers (potential actors)

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Need for contactless money transfer

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online transactions using apps

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Unified Payment Interface is a single platform that merges various banking services and features under one umbrella. A UPI ID and PIN are sufficient to send and receive money. Real-time bank-to-bank payments can be made using a mobile number or virtual payment address (UPI ID).

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UPI is an initiative taken by the National Payments Corporation of India (NPCI) together with the Reserve Bank of India and Indian Banks Association (IBA). NPCI is the firm that handles RuPay payments infrastructure, i.e. similar to Visa and MasterCard. It allows different banks to interconnect and transfer funds.

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Although UPI was introduced in India on April 11th, 2016 and digital payment was introduced in July 2015, the concept goes way back.

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Coca Cola is credited with launching the world’s first digital payment system back in 1997 with several vending machines in Helsinki. The soft drink giant created a digital payment processing system where customers could pay for their soft drink via a text message on their cellphone.

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Google became the first major company to launch a mobile wallet in 2011. With NFC (near field communications) technology, consumers could pay, earn loyalty points, and redeem coupons.

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Apple Pay launched in the US in 2015 and spread quick. Soon  Android and Samsung Pay joined the market.

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Immediate Payments Service (IMPS) is also an initiative of NPCI. UPI is considered as the advanced version of IMPS.

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Taxi aggregators like Uber and Ola, food ordering services like Zomato and Food Panda, online grocery shops like Big Basket will be able to take advantage of the UPI system. Going forward, such companies should be able to register its identifier on the UPI system and receive funds from a customer’s bank account through the UPI.

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UPI, RuPay, BHIM are being internationalized for NRIs and Indian tourists.

There is also provision for off-line UPI payment through the use of  NFC. This is a set of communication protocols for communication between two electronic devices over a distance of 4 cm (1 ¹⁄₂ in) or less. This requires both devices to have in-built NFC chips. Transaction below 2000 does not require pin. But currently, the infrastructure to have NFC payments is not sufficient.

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1.3 billion transcations per month using UPI

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1.3 billion transcations per month using UPI

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Over 500 million Indians are now using smartphones, a 15 percent increase from 2018  According to research, India had 502.2 million smartphone users as of December 2019, which means over 77 percent of Indians are now accessing wireless broadband through smartphones.
RURAL AREAS ?

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Online money transfer apps prove to be inefficient when there is no availability of internet or when the user does not own a smartphone

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2016-Demonetisation
2020-COVID

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ASSUMPTIONS with which the product was designed

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ASSUMPTIONS with which the product was designed

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- Everyone owns a smartphone
- Everyone has access to mobile data/ Wifi
- People from all ages will be able to understand this technology.

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1. Immediate money transfer through mobile device round the clock

2. Single mobile application for accessing different bank accounts.

3.  Easy to use!

4. Not required to enter the details such as Card no, Account number; IFSC

5.  Bill Sharing with friends and opportunity to earn reward points

6. It links your contacts

7. Best answer to Cash on Delivery hassle, Utility Bill Payments, Over the Counter Payments,

8. Barcode (Scan and Pay) based payments.

9. It provides single click 2 Factor Authentication – Aligned with the Regulatory guidelines, yet provides for a very strong feature of seamless single click payment.

10. It allows raising complaints from Mobile App directly.

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UPI is used for P2P as well as P2M transcations

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UPI is used for P2P as well as P2M transcations

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1. Accounts can be hacked
2. Payment delays due to network issues
3. One time transfer limit is ₹1,00,000
4. Requires mobile data/wifi and smartphone
5. Too many application options with no option of inter-portal payment

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1. people who aren't techy find it hard to navigate
2. Process of setting it an account isn't convenient- involves a trip to a KYC point, etc.
3. Many hidden features

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The Onboarding is simple. Enter the phone number and you get logged in via OTP. Even there’s an option of language selection and use of separate google pin which is good.

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Adding your bank account is also easy. It’s seamless with contextual permission being asked.
SIMPLICITY check

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Looks more fun visually compared to the usual net banking predeccesors.

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Looks more fun visually compared to the usual net banking predeccesors.

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The search option when it comes to new payments is quite inefficient

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Businesses play an important role in revenue for such an app. Putting a QR Code in a prominent place could have made it easier to pay.

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To generate a solution consisting of a single, universal, non-internet dependent , non-smartphone dependent, eco-friendly method of money transfer between a merchant and a customer.

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It was estimated that by 2023, there would be over 650 million internet users the country. Despite the large base of internet users, the internet penetration rate in the country stood at around 50 percent in 2020. This meant that around half of the 1.37 billion Indians had access to internet that year.

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Even as the number of internet users has been growing rapidly, there is still a large population with no access to the internet – particularly in rural areas, poorer states and in poorer households.

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The Delhi telecom circle (which includes parts of the national capital territory outside Delhi as well) had 169 internet subscribers per 100 people by the end of 2019, according to TRAI data. This is the highest among 22 telecom circles in India. Again, the number being higher than 100 here is because of people using more than one internet connection.

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Internet usage also varies significantly with class and gender. in India, nearly 24% households in the country had access to the internet. This figure increased with increasing monthly capita per expenditure of households. In rural areas, it was nearly 7% in the poorest 20% households compared to 27% in the richest 20% households. In urban areas, it was 20% in the poorest households and 62% in the richest.

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Another survey finding shows that 40% people in the age group of 15 to 29 years were able to use the internet, but this figure was 48% among men and 32% among women, a gap of 16 percentage points.

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Now, IS THE USAGE OF THE INTERNET FOR RISKLESS/CONTACTLESS TRANSACTIONS REALLY FAIR?

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Now, IS THE USAGE OF THE INTERNET FOR RISKLESS/CONTACTLESS TRANSACTIONS REALLY FAIR?

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What will be the fate of the disconnected 50% when shops go completely UPI because their major profit comes from the top tier groups?

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What will be the fate of the disconnected 50% when shops go completely UPI because their major profit comes from the top tier groups?

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India is a “low-trust society,” citing an additional example of Indians carrying dual SIM cards in their smartphones

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India is a “low-trust society,” citing an additional example of Indians carrying dual SIM cards in their smartphones

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Indians tend to pay for data as they go, rather than sign a monthly contract. “They’ll put down 200 rupees for data and wait until they use it [up], and then put down another 200 rupees

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Indians tend to pay for data as they go, rather than sign a monthly contract. “They’ll put down 200 rupees for data and wait until they use it [up], and then put down another 200 rupees

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For one thing, India is a cash-based society, and that preference has carried over into its internet commerce. In India, 70% of Uber rides are paid for in cash. Why? Indians don’t trust credit cards. They just don’t believe in that system, not yet.

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India’s Department of Telecommunications has reportedly approved plans to implement WiFi interoperability that will allow users to stay connected across all public WiFi hotspots in India when users are in range. Called Bharat WiFi, the DoT has jointly proposed it with all telecom companies, internet service providers, and virtual network operators.

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BUT HOW WELL WILL BHARAT WIFI WORK FOR REMOTE TRANSACTIONS?

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BUT HOW WELL WILL BHARAT WIFI WORK FOR REMOTE TRANSACTIONS?

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Considering the Indian context,it can be noted that the sharpest contrast in smartphone ownership was among those with different education levels (Lower education: below secondary; higher: secondary or above). Its gender gap is also the highest among the countries surveyed.

In India, men (34%) are much more likely than women (15%) to own smartphones – a gap of 19 percentage points."

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Are the installation of more cell towers really the enviromental way to go forward?

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Are the installation of more cell towers really the enviromental way to go forward?

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Since towers aren't that great for the environment, will every shop willingy invest in fibernets (which work via underground cables) to solve the internet accesibility issue? 

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Since towers aren't that great for the environment, will every shop willingy invest in fibernets (which work via underground cables) to solve the internet accesibility issue? 

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How will the funding work for this?
Are fibernets eco-friendly?

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Who should have access to smart utility, merchant or user?
(ideally merchant should.
this way there will be lesser smart objects.)
How to introduce our solution in a low trust society like India?
Create information and material flow chart, map cause and effect, bring in a lot of views.
The root problem is that, UPI which is a technology, depends on another technology-internet- to work, and the latter is not accesible to all, therefore making UPI inaccesible fairly as well.
come up with something that does not depend on any of these complex technologies.

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To generate a solution consisting of a single, universal, non-internet dependent , non-smartphone dependent method of money transfer

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- Every Aadhar Card can be linked to the citizen's active back account. It can easily be done through your internet banking portal and is a  4-step process.
- It has a QR code on the card, which can be used to carry out transactions.

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12 LEVERAGE POINTS FOR SYSTEM INTERVENTION

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12 LEVERAGE POINTS FOR SYSTEM INTERVENTION

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90% of the India's population has been issued an Aadhar Card as of Feb 2020

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90% of the India's population has been issued an Aadhar Card as of Feb 2020

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According to the data given by UIDAI, as of now  96 crore bank accounts out of total 110 crore accounts have been linked to Aadhaar.

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CUSTOMER JOURNEY MAP & TASK FLOW ANALYSIS

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CUSTOMER JOURNEY MAP & TASK FLOW ANALYSIS

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This process is similar to using a credit/debit card. 

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This process is similar to using a credit/debit card. 

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The merchant will require an internet connection and a scanner.
This scanner can be an individual machine or on the merchant's phone itself.

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What are the benefits we want to provide?

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What are the benefits we want to provide?

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1. Reduced dependency on the internet and smartphones.
2. Increased user security
3. Accessibility to a larger demographic.
4. Decrease in carbon footprint
5. User equality.

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Archetypes are recurring patterns of behavior that give insights into the structures that drive systems. They are way of interpreting systems dynamics across a diversity of disciplines, scenarios, or contexts.

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1. The COVID -19 pandemic
2. Financial crunch due to the COVID-19 pandemic
3. India as a developing country does not have the infrastructure to provide internet access at all times and places
4.Preference of the masses

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1. India is a low trust society - acceptance.
2. Branding/Perception
3. Accessibility/ Usability
4. Safety

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Who is solving this already in a novel way?

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Who is solving this already in a novel way?

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NPCI- National Payments Corporation of India

There is a provision for off-line UPI payment through the use of  NFC. This is a set of communication protocols for communication between two electronic devices over a distance of 4 cm (1 ¹⁄₂ in) or less. This requires both devices to have in-built NFC chips. Transaction below 2000 does not require pin. But currently, the infrastructure to have NFC payments is not sufficient.

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1. SIM cards
2. Bluetooth
3. NFC (Near Field Communication)
4. Radio signal
5. Analogous networks

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What is our design challenge at this stage?

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What is our design challenge at this stage?

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To find a secure network to act as a system for transactions.
This network must be independent of cumbersome technology.
This network must be accessible by all sects of people.
To design supporting tools for this network.

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1. ADDICTION - apps are dependent on Internet and smartphone in order to function
2.  RACE TO THE BOTTOM -  Networks sacrifice their quality to attract consumers with a cheaper price. This leads to network errors during transactions.

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Widely used in Tier 1, 2, and 3 places.

Fewer in rural area

Popular amongst millennials

Businesses include Shops and departmental stores, e-commerce sites

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Convenience
efficiency
fewer items to carry
Easy to keep a record of your transactions
organization
enhanced security
no paper work
discounts and bonuses
lower transaction costs
you can send money to your family and friends instantly

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Transaction doesn't go through
Couldn't make transaction because of unavailability of wifi/mobile data
the other party does not have an online payment app/the same app
bank servers offline
the other party had an online payment app but did not know how to use it
Users think they have started to spend more on usage of these apps
bank account does not get activated on app.

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User needs to own a smartphone, cannot borrow a friend's and use it for momentary needs like how one does with social media accounts.

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Convenient access to money at all times could encourage hedonistic shopaholic behavior. According to a study by the University of Illinois at Urbana-Champaign, transaction data from one of the largest banks in China and Alipay BABA, adoption of mobile payments was found to have increased total money spent by 2.4%.

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The total number of retail transactions rose by over 23%, resulting from frequent purchases of low-cost items. The study also found that ewallets made people spend more on food, entertainment, and travel, while not much change was noted in spending on education or healthcare.

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Although, depending on which part of the country they live in, what languages they speak, what their literacy levels are, the experience can really vary

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Although, depending on which part of the country they live in, what languages they speak, what their literacy levels are, the experience can really vary

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Parameters are points of lowest leverage effects. Though they are the most clearly perceived among all leverages, they rarely change behaviors and therefore have little long-term effect.

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A buffer's ability to stabilize a system is important when the stock amount is much higher than the potential amount of inflows or outflows. If there's a lot more of inflow/outflow, the system stays stable.

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A system's structure may have enormous effect on operations, but may be difficult or prohibitively expensive to change. Fluctuations, limitations, and bottlenecks may be easier to address.

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Information received too quickly or too late can cause over- or under-reaction, even oscillations.

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A negative feedback loop slows down a process, tending to promote stability. The loop will keep the stock near the goal, thanks to parameters, accuracy and speed of information feedback, and size of correcting flows.

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A positive feedback loop speeds up a process. Meadows indicates that in most cases, it is preferable to slow down a positive loop, rather than speeding up a negative one.

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Information flow is neither a parameter, nor a reinforcing or slowing loop, but a loop that delivers new information. It is cheaper and easier to change information flows than it is to change structure.

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Pay attention to rules, and to who makes them, such as incentives, punishment, constraints.