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Going Cashless
Devie Mohan
@devie_mohan

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Case Study: Cashlessfor Crime and Corruption
Concepcion, Colombia
“Bottom up approach” in
a sandbox, starting with
educating children and
connecting with existing
systems like the
Daviviendo ATMs.
On implementation, you
could even pay for one
onion digitally.

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Case Study: Cashlessfor Economics
Sweden
Government-supported
policies supported
merchants and
consumers in going cash-
free, with notes and coins
representing only 2% of
the economy today.
Swish app is used by
more than 30% of
population.

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Case Study: Cashlessfor Inclusion
Nigeria
Government banned all
cash transactions over
N500K, with a view to
improving efficiency and
reducing banking costs in
reaching rural areas.
Challenges still exist in
the form of poor
infrastructure, internet
crimes, lack of trust and
low literacy.

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Case Study: India
India, 9 Nov 2016
The government banned
the two highest
denominations overnight,
making rural and urban
consumers scramble to
open digital bank
accounts with virtual KYC
and make transactions
through mobile wallets
like PayTM.

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India could turn out to be the best example
6
Strategise
JAN
DHANYOJANA
• 250mn new bank
accounts
• 180mn RuPaydebitcards
issued
• 100mn accountslinkedto
Aadhar
J AADHAR
• 1bn+uniqueidentity
biometricsdone
• Aadhar-basedremittance
available
• DigiLockerande-KYCservice
implemented.
A MOBILE
• 1bn+mobilesubscribers
• 250 mn+smartphoneusers
• 370 millionmobileinternet
users
M
Implement

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India could turn out to be the best example
7
Strategise
JAN
DHANYOJANA
J AADHARA MOBILEM
Implement
Consumer Merchants
Regulatory Body

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Urban, Semi-urban and Rural
8
The new policies work well
for all types of consumers.
Urban: Most use mobile
wallets, digital banks and
traditional bank accounts.
Semi-urban: Increasingly
being converted to digital
payments via cards and apps
(BHIM) thanks to the
introduction of 1.5 million
new PoS machines to
merchants by the
government.
Rural: e-KYC offered to
consumers and biometric
payments available without
bank accounts or phones.

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Which countries arebest positioned to go cashless?

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THANK YOU
10
Devie Mohan
@devie_mohan