UDMA TECHNOLOGIES PRIVATE LIMITED

In their own words

India is a country with 1.3 billion populations where 63.6% is between the age group of 15-65 years and its way to becoming a cashless society. The fast technology advancement in India is taking everything in its cover including financial sphere. The recent “Jan-Dhan Yojana” by honorable Prime Minister initiated the banking coverage to every Indian and extended banking to the utmost rural area. To achieve this goal India needs an infrastructure that enables digital / cashless payment without dependency on internet. With almost all digital payment solutions in the market being internet and smart phone based, we realized that it would be a major impediment for growth in financial inclusion. Hence, we developed a solution to facilitate digital transactions with/without an internet connection, while supporting both smart & feature phones. Banking is still a dream for rural people as they travel 5-10 km, we help them bringing banking services in just a click. Due to security reasons internet was stopped in various cities in the country. Our solution helps keeps financial transactions ongoing in light of this development.This feature is also helpful during natural calamities such as the chennai floods where internet cable were damaged. UPI has tried to be a game changer to the mass market yet it needs internet. Our protocol allows UPI transactions without an Internet connection. Our technology, which is patent pending, is different from existing technologies like USSD, NFC, Sound wave Tech or QR Code.

Written by the company on its public Startup India profile. Not verified by us.