Mobile Payments

Year 2007 - first trimester of MBA  and a presentation in the area of Information Technology.

Inspired from a Swaminomics article in Economic Times, I had chosen the topic of Mobile Payments. Mobile payments have already been implemented in other emerging economies like Brazil and South Africa. For India, it looked a bit futuristic at that time but the simplicity of it was what attracted me. India had the highest potential keeping in mind the mobile penetration which is in fact still going on on a scorching pace.

The problem with credit cards is that you need a swiping machine, telephone connection et al. This limits its scope. You still need to carry cash if you are travelling by auto, buying groceries from a mandi or paying to your next door mom-and-pop store.

M-payments change things significantly. Both the parties just need a mobile, where in I can transfer the money to your number. Just like a pre-paid connection holds money, this becomes your virtual bank. In any case, if you need cash, you just go to your nearest shop, transfer the m-money and get hard cash from him. Anyone would be willing to do it, making everyone around with some cash as a bank.

And considering the recent focus of telecom companies to target semi-urban and rural areas, it becomes a boon for a city dweller who needs to transfer money to his family back home in a far-away village.

It may have looked futuristic at the time of presentation but within 3 years its time has come . Yes Bank has recently launched mobile money services in Chandigarh (where else ;))

The shot has been fired, the race started. Right now it may be a hurdle race - technology issues, regulatory issues, legal issues. But I am sure in no time this hurdle race is going to become a cross country one - reaching each and every corner.

Khussshhh to Bahut ho Tum….

It seems to have been a happy 2010 for Indians - if Facebook's Gross National Happiness Index is to be believed. And assuming it is largely a young India that is Social media active, we indeed have a very happy young brigade.

In fact, in the past several months, even on the occassions we have gone below zero - implying that most of the FB status updates were negative in nature - have not been less than -1. (the only significant dip was last on 26/11/2008 for obvious reasons).

The reasons for this positivism and happiness can be multifold.

1. Jobs are back - probably the biggest reason.

2. No major terrorist attack. Ofcourse Naxals attacking and killing CRPF Jawans by the hundreds is no terrorist activity. Terrorists are only the ones who come from across the border. These Naxals are fighting for Basic human rights. No?

3.Sachin's form. He completes 20 years in Cricket, hits a double hundred, top run getter in IPL, joins twitter. Sachin's form is directly proportional to the nation's happiness.

4. A general conscious or sub-conscious human tendency to make others jealous by writing awesome things happening in their lives.

5. Extra ordinary performances in Farmville. IT may be our growth engine but we are really farmers at heart. It has been proved by young Indians, specially those working in the IT sector being so successful at managing huge farms on their own.

6. Plenty of jokers to make fun of: Yuvi's pregnant woman body, Rahul Mahajan's marriage, the 1411 tigers, MRF Blimp, Nithyanand and ND Tiwari, the evergreen Arnab Goswami.

There are plenty more I am sure. If anyone reading this has more reasons in mind for our happiness, do share.


The GNH index of India and other countries can be viewed here.

Image courtesy Facebook.

Twitter in Colleges

So now twitter has entered classrooms too. Some tech savvy teachers are using twitter in class rooms for better interaction with students. In a large class, there are many students who have doubts but are shy of raising there hands in fear of public ridicule. "What will others think of me?", "What if the question is a stupid one?" "After the class they are going to call me names". These are some questions which lead to doubts and hence a hesitation in asking questions. It happened with me and I am sure with everyone at some point of time in their lives.

Twitter has come to the rescue now!! A trending topic can now be created (using "#"), and it can be put up on the OHP where the questions can be put up in form of tweets with the particular hash tag. So the shy students can put up questions without having to raise their hands.

I LOL'd thinking how much more miserable lives of our profs could have been if twitter and this pedagogy been around during our times at college. The imaginative and innovative graffiti and ideas due to which desks had to be repainted after every semester in engineering could have been permanently imprinted on the twitter servers and for everyone to see and enjoy. Twitter would have benefited by using it for trend analysis and targeted marketing. Historians could have recorded the data and years after now could have written papers on how the thinking in colleges have evolved/degraded over the years.

During MBA, we used to give a feedback for each teacher at the end of every trimester. Had twitter been around, the prof could have got a Live feedback there and then!! What fun it would have been. The best thing in any case would have been organizing mass cuts would have been child's play.

Yes, twitter in Indian colleges will be a disaster. In any case, one should be working on getting more confident in college rather than using twitter to contribute your thoughts which may or may not be stupid.

Related MMT

Empty School Bags

My generation of school goers was characterized by heavy bags. I remember many articles in newspapers which focused on reducing the weight on the shoulders. It was considered the Ministry of Education’s job to help this burden. The solution instead lay elsewhere – in technology!

But books and copies offered exciting time. At the start of a new year, fresh copies and books used to be bought and diligently covered with brown paper and plastic paper. A special cupboard was assigned to books with labels put to divide it into different sections. A sketch pen was used to put the name of the subject on the width side of the copies for instant recognition. Then each night bags were packed according to the next day time table. I remember the anxiety and that fear which used to strike when the wanted notebooks could not be found – may be given to a friend or when there was a sudden realization that some homework given had not been done.

But now, all that is set to get over. The advent of Kindles, iPads or the more local Pi’s is set to change the students – not only at school but at all levels study. School Bags will now carry a digital reader to store all the syllabus books and a digital notepad – to take notes.

There will be no need to pack bags at night, waste cupboard space, fear of losing copies full of notes right at the end of the year with exams approaching. It will also be easier – it actually already is to just copy the homework from a friend.

The only thing that will perhaps not change will be the tiffin box which will still offer a suspense of what has been packed, with a hope that there is maggi inside.

Social Media and Social Change

First of all what is social Change?
Simply put, it is a collective change in the behavior of a large group of people which is different from a tradition, trend or a way of working of a system.
To narrow the definition we can say that the change is more libertarian – a more open minded society – open to changes, new ideas and not stuck in ancient beliefs – just following what has been going on and scoffing at what is not in line with that. It can concern anything – religion, politics, movies, business - everything that affects and modifies our daily life!
In no way, I say that those ancient beliefs and ideas are wrong or out of date. There are many examples where we can learn from the past. In religion, for example, going to a religious place, reciting/singing hymns (or listening to it) has been an ancient tradition. It was primarily an exercise of stress relief or a kind of meditation. But now going there has been made kind of compulsory, leading people to believe that if they don’t God will not be happy and his wrath will befall upon you.
The basic point here is that there was a reason to things which became ingrained in traditions and slowly people mindlessly started following it. The need is to know the Why behind it and if ‘Why’ is not relevant then being open to change.
All matters of Social Change will always start with a Why!!
Why should I be only an engineer?
Why shouldn’t I leave my job and be an entrepreneur?
Why can’t the government make public a detailed statement of account of its sources of income and expenditure?
Why is a scene in a movie with a person riding a horse banned or what is the problem with Savita Bhabhi?
Why can’t the government not punish who deserve it or who by acting in certain ways, with certain (un-understandable to common man) motives disrupt the daily lives of people.

Again, the focus here is only on the change in thought process and knowing that there is another person who thinks the same way. What can be done, How it can be done? – The action will be an after effect.
So now can Social Media of today lead to Social change.
I believe it certainly can - the main reason being the viral nature of it. Thoughts, views, observations get transmitted quickly over it that it beats the traditional - the literal word of mouth. Take Twitter for example. The option of retweeting ensures that 1 message will reach multiple people and the fact that it is being retweeted means that it is acceptable and people agree on it and are at par with the thoughts.
It further helps in opinions getting formed, sharpened and being known. Influencers like people from popular media get their thoughts easily transmitted. And more importantly, these ideas are challenged – many times with valid arguments. It also ensures that much more relevant problems and news will be able to reach the people who matter and who are in a position to take it to masses where mediums like twitter wont.
The best deal is that people who are stuck in the old form of beliefs with their stick to traditions and no change policy are NOT there on social media. Of course, how can they accept this wide world that continuously generates new thoughts and messages? As a result, with a majority of libertarians who are active here, the ideas being generated and transmitted are of that nature as well. And thus is in perfect sync with the social change defined above.
Once a good number of us are in line, then there can be a time of action. Then we can ask the authorities on where our taxes go or as Chetan Bhagat points out – even change the governments. After all many of us go voting believing that each and every vote matters and I can change the fate of nation with that one vote – which is clearly a farce. We can change only if 20 million of us vote similarly.
And what can be the medium to channel a similar thought for 20 million people - obviously a place where they all are present, where they hear, listen and observe. The Facebooks, twitters of today and may be something more focused to this task tomorrow!

Idiotic Ideas !!

3 idiots, the latest buzz in town is also getting released on You Tube, though some 8 – 10 weeks later. Raju Hirani, the director says that people are anyways going to download the movie from the internet, why not earn some revenues from it. I think this is an excellent idea.

Many people will still prefer going the free way – downloading from torrents or getting it from friends. But there will be some who won’t mind spending a few bucks getting it “legally”. Human mentality is at work. If it is really cheap vs free, people will have tendency to go for the real cheap because it frees them from the guilt of piracy. It is something similar to what Chetan Bhagat books did a few years back. Everyone used to get the pirated books to get them cheap. E.g. a Rs 300 book is easily available for anything between Rs 80 – 120 at any roadside vendor. By pricing the book at 100 bucks (which now has become a trend with new authors), people went in for the original because it was real cheap. Why not buy an original for 100 rather than a duplicate for may be Rs 60 – 70 and be guilt free.

Moreover, it also helps in creating a buzz which is especially useful for a new movie. Say the movie is available for download for Rs 100, one who downloads it will definitely put it up on twitter, facebook etc encouraging the circle of friends to go for it.

One potential problem can be the payment on the internet. Many people are still wary of internet payments and many users will be of the age group who may not possess bank accounts or credit cards.

I am eagerly waiting to see how this strategy of 3 idiots goes through!!