Srikanth Rajagopalan

CEO, Me, Inc.

Srikanth has been in the payments, e-commerce, and technology industries for over two decades. He has launched and scaled payments businesses both in large organisations and startups. When not questioning status quo in these industries, Srikanth spends time trying to find the correlation between jazz music and quantum physics.

2 Articles published

Top Comments by Srikanth Rajagopalan

Samsung woos Airtel as Jio seeks an open relationship for 5G

You may want to look outside the traditional vendors to an emerging new set of players set to disrupt telecom equipment. With everything available "as-a-service" these days, and capex being scarce, AWS - and to an extent Azure - could be the next big players: And who better than Jio to take the next bold technology leap?

Srikanth Rajagopalan

The UPI frauds undermining India’s payments fairytale

A little context would help in sizing the problem: 1. Your data show a fraud-to-gross (FTG) ratio for UPI of 0.02% by value and 0.002% by volume. I can't think of a single payment system worldwide operating at UPI's scale that achieves such a remarkably low FTG. The *reported* losses on credit/debit cards in just Oct '19 was INR 84.7 crore across 5,377 transactions would suggest a far higher FTG metric, given the lower base for card payments. 2. What makes UPI so safe is that your bank account number is never revealed. While this may delay fraud inquiries, let's keep in mind the solid design principle that led to such a remarkably safe ecosystem. Like UPI itself, safety mechanisms need to be simple and universally understandable 1. Consumers need to be told one thing simply, repeatedly, and by everyone - RBI, banks, PSOs - PIN ONLY TO PAY. Most scams would fail at this step. 2. Make it easy to report a problem. Have a big red SOS button in the app to flag a transaction as suspicious. Centralized repositories of suspicious transactions work only when they have enough raw data - which means consumers must find it easy to report a problem rather than have to run to a police station first. 3. There is work happening in the Account Aggregator ecosystem in Online Dispute Resolution that can be extended to accommodate UPI disputes. Chargebacks may not be relevant given UPI's instant settlements.

Srikanth Rajagopalan

No country for lending unicorns

In 2019, the RBI banned banks from using DSAs for sourcing retail loans. The primary concern was data theft and KYC fraud by agents of the DSA. "Co-lending" walks and talks like a DSA - so it must be a DSA. No surprises that the RBI is chasing banks down this time as well. If you think DSAs are having a tough time with the RBI, wait till the Data Protection Bill becomes law and the Data Protection Authority operational - in addition to their business models, their data privacy and protection mechanisms will have to stand up to stringent scrutiny. DSAs will not be able to monetize the customer base they build for banks, so the investment case becomes even weaker.

Srikanth Rajagopalan

Facebook, Google, and the rejig of Big Tech’s public policy playbook

To be fair, you can't blame Big Tech for having to invest in public policy and advocacy in a country where laws and regulations are evolving with the market and can change unexpectedly and illogically. We have the unique distinction of changing laws retrospectively at the taxman's whim. Who knows how many millions of $$ of investment plans were brought to naught by the farm laws being reversed? Absent a logical and predictable policy and regulatory environment, you have to "manage the scene".

Srikanth Rajagopalan

The hazards of Ola Electric's need for speed

Softbank + rock-star founder + overhyped vaporware + execution disaster .... Loved the detail and context in your piece. Buggy scooters can be far more harmful than cancelled rides and exploited drivers. Even if the basics are right, but say the display keeps popping up with error messages when riding, the distraction is dangerous enough to harm the rider. Let's hope they don't put customer safety at stake in the race to vanity metrics.

Srikanth Rajagopalan

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