Re:A digital payments revolution in India
by alephnerd on Saturday May 20, 2023 @02:26PM
(#36014351)
An anecdote I posted above specifically about the positive impact digital payments has had on poverty eradication:
In my ancestral village, before cashless payments the nearest bank was 5 miles away in the district/county headquarters. If you needed to take out cash or deposit a paycheck, you'd need to ride a bike or take a bus or walk over potholed roads to get to that bank which was staffed with lazy employees who'd take chai+nashta breaks all the time.
With the proliferation of cashless payment options, it's much easier now to deposit a paycheck or buy groceries in these small towns and villages.
In my ancestral village, before cashless payments the nearest bank was 5 miles away in the district/county headquarters. If you needed to take out cash or deposit a paycheck, you'd need to ride a bike or take a bus or walk over potholed roads to get to that bank which was staffed with lazy employees who'd take chai+nashta breaks all the time. With the proliferation of cashless payment options, it's much easier now to deposit a paycheck or buy groceries in these small towns and villages.