Hanging WeChat Pay? India threatens to move into the cashless era, how outrageous are mobile payments in India?www.deekpay.com

## A History of the Internet in India: From 'Spinning' to 'Low Spending', and Why It's Hard to Make a Difference India's Internet development has always been the focus of outside attention. In recent years, Indian programmers in the U.S. Silicon Valley "blossomed", the Indian Institute of Technology is regarded as India's civilian "overnight wealth" shortcut. However, at a time of tension between India and China, India has blocked 59 Chinese APP, but still did not give birth to a real sense of the Internet giant. Why is this? India's Internet development road is not smooth sailing. As early as 2009, the Indian government began to promote the Internet penetration programme, but due to the lack of digital identity cards and other issues, the progress is slow. 2016, the Modi government to implement the "abolition of banknotes", in order to force the exchange of money, a large number of Indians into the digital system. This may seem to kill two birds with one stone, but it also makes India's Internet development process has been delayed for seven years. After clearing the authentication hurdle, the Indian government started to develop the Unified Payment Interface (UPI), with the intention of replicating the success of China's Alipay and WeChat Pay. However, India's UPI is not a market-based product, but a platform set up by the government to integrate banks. This model lacks market competitiveness and limits innovation and efficiency. The launch of "UPI" has put India's mobile Internet on the right track, but it was followed by a frantic "coin" war. In order to seize the market, third-party payment platforms such as Pay TM, have used "cashback" and other means to attract users in the form of subsidies. Although this model is effective in the short term, but it is difficult to sustain, and ultimately can only evolve into a volume, consuming a lot of money, but can not really enhance user stickiness and commercial value. In recent years, many overseas companies have chosen India as their first stop, eyeing its huge population base and mobile Internet development trend. However, India's low spending power has deterred Internet giants. Despite the impressive number of downloads, Indian users do not have a high willingness to pay on apps, which ultimately leads to meagre revenues. India's Internet development, although it seems to be lively, but in the end, the "foundation is not stable". Lack of infrastructure, single business model, low consumption level and other issues are key factors hindering the development of India's Internet industry. India wants to really rise, need to pay more attention to innovation and sustainable development, rather than the pursuit of "money" and rapid expansion.