The other points (pricing, cultural differences, scale, inorganic growth) show that any solution for this market would cater to a very targeted group – a lot of local solutions and maybe a few that are successful across the board. Anyone approaching this market thinking of a market size of 500 million people would probably be stepping into a ditch.

As an essential enabler, we would probably need to have some prevalent solutions in the first 2 categories. Luckily, in the payments space there are bunch of experiments in India based on successes in other geographies (notably Kenya). Hopefully one of them coming good would remove the huge impediment to innovation for rural India