Indian Institute of Technology (IIT) Madras researchers on Monday said that they will collaborate with members of the Mobile Payment Forum of India (MPFI) to develop voice-based solutions in multiple vernacular languages to enable larger adoption of digital money transactions in the country. It added that the collaboration between IIT Madras researchers and MPFI will "provide a phenomenal platform not only for the increased adoption of digital payments in India but for research opportunities as well." Among the key technical areas in which IIT Madras researchers will be working are machine learning and artificial intelligence, as applied to the digital payments space. "The Indian government, in the last Budget, allocated ₹1,500 crore to help drive the adoption of digital payments in the country. The National Payments Corporation of India (NPCI) is an umbrella body of all retail payments system in the country.

Source: Mint May 10, 2021 11:53 UTC