IIT-Madras to provide technical expertise to boost digital payment
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IIT-Madras researchers will work on research around machine learning and artificial intelligence to make the technology backend more robust and secure and generate useful digital data history and footprint.
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The year s Union budget allocated Rs 1,500 crore to help drive the adoption of digital payments in the country and MPFI is working to identify innovation across three key areas- human behaviour and adoption, technology (design and safeguards), and policy aspects.
(This story originally appeared in on May 10, 2021)CHENNAI: Indian Institute of Technology- Madras (IIT-M) said on Monday that its researchers will collaborate with members of the Mobile Payment Forum of India (MPFI) to develop voice-based solutions, especially in multiple vernacular languages, for increased adoption of digital payments in India.
IIT Madras To Provide Technical Expertise To Boost Digital Money Transactions In India
IIT Madras To Provide Technical Expertise To Boost Digital Money Transactions In India
IIT Madras researchers have announced their collaboration with members of the Mobile Payment Forum of India (MPFI) to develop voice-based solutions, especially in multiple vernacular languages for digital money transactions in the country.
Education | Edited by Aarzoo Snigdha | Updated: May 10, 2021 2:20 pm IST
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New Delhi:
The Indian Institute of Technology (IIT) Madras researchers have announced their collaboration with members of the Mobile Payment Forum of India (MPFI) to develop voice-based solutions, especially in multiple vernacular languages for digital money transactions in the country. At present, as per the Government of India’s statistics, there are more than 100 million active UPI users e
IIT Madras to collaborate with MPFI to boost digital money transactions in India ANI | Updated: May 10, 2021 16:35 IST
Chennai (Tamil Nadu) [India], May 10 (ANI): Indian Institute of Technology (IIT) Madras researchers will collaborate with members of the Mobile Payment Forum of India (MPFI) to develop voice-based solutions in multiple vernacular languages to enable larger adoption of digital money transactions in the country. At present, there are more than 100 million active Unified Payments Interface (UPI) users every month in India, as per the Indian government s statistics. These initiatives are being taken up by MPFI towards bringing 500 million active users by 2025, read an official statement.
Team of researchers working on voice-based solutions in regional languages Researchers at the Indian Institute of Technology (IIT-Madras) are working on voice-based solutions in regional languages to boost digital money transactions.
The researchers are collaborating with the Mobile Payment Forum of India (MPFI) to develop such solutions in several regional languages.
The forum aims to identify innovation in human behaviour and adoption; technology with regard to design and safeguard; and policy that would provide a data-centric view.
Gaurav Raina, faculty in the Department of Electrical Engineering, said digital and mobile payments were efficient and mitigate the risk against COVID-19 infection. The researchers will offer their expertise in machine learning and artificial intelligence as applied to digital payment space by making back-end technology more robust and secure and creating a useful digital data history and footprint.
May 11, 2021
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The initiative is aimed at bringing 500 million active users on to the UPI payment platforms by 2025. Indian Institute of Technology Madras researchers will collaborate with members of the Mobile Payment Forum of India (MPFI) to develop voice-based solutions, especially in multiple vernacular languages, for digital money transactions. This will provide a platform not only for the increased adoption of digital payments in India but for research opportunities as well, says a release from IIT Madras.
At present, there are more than 100 million active UPI users every month in India, as per the Government of India’s statistics. These initiatives are being taken up by MPFI towards bringing 500 million active users on to the UPI payment platforms by 2025.