Industry quotes on demonetization of Rs 500, Rs 1000 currencies

Vikas Jain, co-founder, Micromax: “It is heartening to see a bold move by our Prime Minister Mr. Narendra Modi towards demonetization of  our economy. When a country of a billion people changes it will be a biggest historical change. In the  next 50 days, we are going to witness a significant change in the payment habits of the consumers and as a leading handset player we are proud to be a frontrunner in facilitating this change.  Our efforts started six months ago, when we started working with Transerv on our  native wallet Udio to enable simplified digital solutions for our consumers . Very recently visa has also partnered with Micromax to bring mVisa to the Udio wallet. Natively users will be able to access the wallet and participate in the cashless economy.

A mobile phone now becomes the centrepiece of all the activities consumers do and payment certainly has become one of the significant aspects to it. We truly believe that this change has to be brought in by  strategic collaboration and commitment by all the industry players to bring mobile based payment solutions for the convenience of consumers.”

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