Software developers have some great news, Bill Gates has promised to give Rs 36 lakhs to anyone who can develop a Unified Payments Interface (UPI) app for feature phones.
The Bill and Melinda Gates Foundation in collaboration with the National Payments Corporation of India (NCPI) and CII.CO has launched a big challenge for individuals and startups from across the world. The foundation has assured a prize of Rs 36 lakh for any individual or startup who can figure out and create a software solution for UPI payments for feature phones in India.
With the PM Modi’s Digital India and Cashless India campaigns, the use of online software such as UPI and banking apps have gained popularity. However, while the popularity grows, at least half a million people do not have access to the service because many feature phones do not support heavy UPI apps. The foundation hopes to bridge the gap with this innovative challenge.
The foundation will be acknowledging the top three developers as winners, so there is more space for people trying their best. The second winner will be awarded a cash prize of Rs 21.5 lakh approximately and the third position will receive Rs 14.34 lakh approximately.
Participants can enter the competition from January 12, 2020. Participants will get two months to develop the software. The winners will be announced on March 14, 2020.