Bill Gates' challenge, this winning at 35,000 won at home

Digital transactions in the country have grown tremendously in the past few years. However, half the population of the country cannot take advantage of UPI transactions through smartphones due to feature phones. For this reason, those who have a feature phone can also get the benefit of digital transactions. For this, the National Payments Corporation of India (NPCI) holds an open challenge to develop a payment solution to help people who have feature phones in India. NPCI has partnered with CIIE.CO and the Bill & Melinda Gates Foundation on an Innovative Competition for this.

Global Competition Announcement

NPCI has announced a Global Competition to prepare feature phone payment solutions. In which both the company and the private can participate. Winners will be selected by this challenge. The first winner will get a reward of $ 50,000 (Rs 35 lakh) and the opportunity to develop a payment solution together with NPCI. The second winner will receive a prize of $ 3000 (Rs. 21 lakhs). So, the third winner will get a prize of $ 20,000 (Rs 14 lakh).

NPCI has asked developers to apply for this challenge. The deadline to apply is January 12, 2020.

Only Online Applications Accepted

Only applications from the online process will be accepted. The best solution for CIIE.CO and NPCI will be shortlisted. So that further development can be done. According to the NPCI website, those startups will be shortlisted. It will be further developed. Startups that will be shortlisted will get access to the NPCI API, according to the NPCI website. So that he can understand the technical requirements and make his solutions worthwhile.

Selected startups will go Mumbai Selected startups willbe invited to a program in Mumbai on February 11, 2020. During the program, the three winners will have the opportunity to meet CIIE.CO's team. CIIE.CO winners will also have the opportunity to meet with other investors.