India Embraces Digital Payments Over Cash, Even for a 10-Cent Chai

Just before the 2020 lockdown, Mr. Srivastva paid a hefty electricity bill and two installments of the loan on his vehicle, depleting the cash at home.

His cash earnings usually were not enough to justify travels for bank deposits. But his wife urged him to check the account linked to the digital payments. Unable to figure out his balance at an A.T.M., he returned with his daughter, a 20-year-old civil engineering student.

First, his daughter withdrew 5,000 rupees, roughly $60.

“She checked again, and said, ‘Papa, there is 45,000 more left,’” Mr. Srivastva said, before breaking into a big smile. “I loved it!”

Article source: https://www.nytimes.com/2023/03/01/business/india-digital-payments-upi.html