Russ Shaw, founder, Tech London Advocates, highlighted how the western countries need to pay attention to the tech advances that are happening in India.

Russ Shaw Urges UK To Take Cues From India’s Mobile Payment Success With UPI

Adarsh V.KJune 22, 23 India, Startup, UPI

Despite being known as the fintech hub of the western world, London’s reliance on cash and cards for payments may come as a surprise to those travelling from India. Google Pay and Apple Pay have limited support in the city, with credit and Oyster cards being the primary modes of payment. In contrast, the use of UPI-based mobile payment apps has surged in India, impressing attendees at London Tech Week 2023 with the ease of making transactions, even for small amounts, using just a smartphone and a bank account.

WATCH VIDEO: Impressed by India’s Tech Ecosystem: Russ Shaw

Russ Shaw, founder of Tech London Advocates, in a candid conversation with ReturnByte Tech reporter Debashis Sarkar, highlighted how the West needs to pay attention to the technological developments taking place in India. “India has recently moved from a cashless to a cashless society thanks to UPI,” said the founder of Tech London Advocates. Tech London Advocates, which Shaw described as a collection of technology leaders and the voice of London’s private sector campaigning for the future. London Tech.

“We need to follow India’s lead in mobile payments. When I was there recently, I was so amazed to see how cash had just disappeared. I think some of the changes that have been put in place and the policies that will make it (India’s change) happen are things that the West should look at “, he said.

Speaking about how India’s tech talent is perceived by London companies, Shaw said: “I think India’s tech ecosystem is one of the most dynamic and impactful in the world. There are great entrepreneurs, great companies and an exceptional talent base and people looking for challenges and opportunities that need to be addressed. I was there. (in India) several months ago and I was so impressed with the caliber of what has been created in India, and I believe it will become the largest technology sector in the world.

Shaw emphasized that India’s technological contribution is outstanding in many areas. “In areas like agri-tech, fintech, health tech and sustainable tech, Indian companies are taking the lead. I also see a lot of movement around advanced manufacturing, looking at chips, semiconductors… India’s future is incredibly bright in terms of technology,” he added.