..........A payments company like Visa, MasterCard or RuPay, an RBI initiative, can take care of settling payments. Scale will bring down their fees. And for every crore rupees worth of tiny transactions they settle, they can be paid something from the government so that they have an incentive to make a good job of settling small payments in remote areas. The banks are the agencies to deploy the swipe machines. They can split their incentive from the Centre with the payment companies..................
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