Unified Payments Interface (UPI) has become one of the most popular methods as a way to make online payments in India. The feature is heavily used on smartphones across the country.
Microsoft founder Bill Gates has an offer for mobile app developers. Bill Gates is offering a sum of Rs 36 lakh as reward to anyone who is able to create a digital payments solution for feature phones in India. Bill Gates has collaborated with National Payments Corporation of India (NPCI) and Centre for Innovation Incubation and Entrepreneurship (CIIE.co) to announce an opportunity in which startup companies and individuals can compete against each other for the prize.
Unified Payments Interface (UPI) has become one of the most popular methods to make online payments in India. The feature is widely used on smartphones across the country. According to reports, Unified Payments Interface had crossed the 1 billion marks in India in the month of October. Smartphone owners use UPI more than feature phone owners which can change if developers can find a solution for the same. If a developer can find a solution to this problem then India will see a surge in the UPI Payments even more with feature phone owners becoming a prominent part of this change.
How to participate
To apply for the challenge, participants can log go to https://grand-challenge.ciie.co/ website and can fill the form and register themselves for the challenge. According to the website, the challenge focuses on giving a simplified user onboarding, highest security standards, enhanced security experience and automated dispute resolution.
The winner of the challenge will get a sum of $50,000 as the first prize. The startup/person who gets the second position will receive a sum of $30,000 whereas the third runner up will receive a sum of $20,000. After which candidates will be shortlisted will be given access to NPCI API which will help them understand the technical requirements and start building solutions. The winners will be announced on March 14, 2020.