Registration for the hackathon begins on November 15.
Participants have been invited to identify and develop solutions that have the potential to make digital payments accessible to the underserved, improve payment ease and user experience, strengthen digital payment security, and promote customer protection.
The hackathon has invited innovative solutions to the following problem statements in payment and settlement systems:
- Innovative, easy-to-use, non-mobile digital payment solutions for converting small-ticket cash transactions to digital mode.
- Context-based retail payments to remove the physical act of payment.
- Alternate authentication mechanism for digital payments.
- Social media analysis monitoring tool for detection of digital payment fraud and disruption.
Being a part of HARBINGER 2021 enables participants to be mentored by industry experts and to present their innovative solutions before an eminent jury. The winner gets Rs 40 lakh, while the runner-up will receive Rs 20 lakh, the RBI stated.