Sudhanshu Shekhar Profile picture
May 17 β€’ 5 tweets β€’ 3 min read
The why and what of Cheq ( @cheqit_ )
πŸ‘‡

#fintech #comingsoon
@cheqit_ Tl;dr: Cheq gives you up to Rs 30k limit for spending anywhere

With us, you get:
βœ… Greater convenience: One-tap payments everywhere
βœ… Better rewards (0.5 - 4%) , Great offers
βœ… 15-45 day zero interest repayment cycles

Follow @cheqit_ if you want early access
@cheqit_ From afar, the Indian payments market looks *extremely* crowded.
There are dime a dozen payment options for every customer.

But there's an easy way to split all of them up:
1) UPI vs Non-UPI
2) Debit vs Credit
@cheqit_ Why is UPI important?
Because in less than 7 years its become India's number 1 payment network.

Number of individuals paying via UPI: 120mn+
Count of UPI transactions in March: 5 Billion +
@cheqit_ Why is Debit / Credit important?

Only 1 in 15 financially active individuals has a credit card/line active in India right now.

Demand for new credit lines/cards/loans is on fire πŸ”₯

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More from @sudshekhar02

Jun 2, 2021
I am late to this party but wohooooooo πŸŽ‰πŸŽ‰πŸŽ‰

UPI e-vouchers will change the world of Direct Benefit Transfers (and gift cards) forever.

Read πŸ‘‡ to understand how (1/10) :
#upi #payments #fintech #DigitalPayments
(2/10) GOI's press release explains E-voucher as a 'digital payment option which enables financial transactions linked to a specific purpose which can be used only by the intended user'

What does that mean?
(3/10) E-vouchers are digital gift cards built on top of UPI.

Basically, GOI can now create a subsidy scheme by identifying
A) The people who need assistance
B) Shops where these guys should be able to spend

Once this is done, transfers can begin in <24 hours.
Read 11 tweets
May 31, 2021
@paraschopra here goesπŸ‘‡

[Some of these are on my wishlist for India as well]
1) Building a martian identity: All citizens living in the colony must have the ability to present/demonstrate their identity in a digitalized & secure manner. Even visitors get temporary IDs which will be revoked once they leave
2) Building a commons stack: We must have standard rails to enable sharing of data, payments, communications/messages, personal information, etc. This increases productivity and reduces wastage. Specs must be open for anybody to build their own tools.
Read 11 tweets

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