The March of Mobile Money by Sam Pitroda and Mehul Desai

Money is what makes the world go round, right? Even those who don't agree understand it is a vital part of our everyday existence. We can easily call it the most timely book which talks about how connectivity brought about by mobile phones can vastly improve the way we handle financial products and other transactions.Noteworthy Record in the Field Of TechnologyThe March of Mobile Money is written by the man who invented the digital diary, thus removing the need for large amount of paperwork by working people. There was a time when Sam Pitroda headed about six technology missions; he still remains an advisor to the Prime Minister on infrastructure and innovations. His co-writer, Mehul Desai also has noteworthy record in the field of several non-profit initiatives (including intellectual properties).More Transactions in Less TimeE-payments and e-commerce are the current buzzwords in the sphere of business and technology today, at a time when upgrade is more like a way of life.
Internet has enabled us to conduct numerous financial transactions in a very short time whereas in earlier days we had to bunk office or take leave to do the same work. You don't need to mark separate time for your visits to the banks anymore. In the same vein, the authors Sam Pitroda and Mehul Desai have now come up with the concept of digital mobile wallet. The first patent on the concept was filed way back in 1994, which was granted in 1996, and the adventure continues.And The Idea StruckThe idea of a digital mobile wallet struck him when Sam Pitroda was watching his wife sign numerous cheques for monthly bills in his US home. As she sat down on the dining table with all the paper bills and challans, he realized how time consuming the entire process was, and how easily the problem could be solved.Are We Creating Avoidable Waste?Just think of it, so many plastic cards are being manufactured and paper sheets produced every year. We are creating huge waste every year which c
ould easily have been avoided. The innovation is especially invaluable in the time when weather systems are going rogue and global warming threatens to change the world beyond recognition. Although it is an advanced concept, it can become popular only if it performs better for the masses and proves more convenient than that leather wallet for them.

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