Gurjodhpal Singh, CEO, Tide (India) said
Financial inclusion is a holistic process that ensures availability, accessibility, affordability and timeliness of financial products among a cross-section of population, and this is definitely a way forward in that direction. Even today, there is a certain section of population (rural, elderly and blue collar workers to name a few) who still use feature phones for their affordability and user-friendliness, making UPI available for them will foster financial inclusion to a great extent. This will also help timely access of these services, as they will no longer be limited to smartphone users. Moreover, the proposal to review digital payment charges will help financial products reach and accepted for use among a larger section of people.