New Delhi: Leading digital payments platform PhonePe on Thursday announced that NITI Aayog, in association with the platform, will be hosting the first-ever open-to-all hackathon that aims to showcase path-breaking solutions for the fintech ecosystem.

They can use data sources like PhonePe Pulse, the Open Government Data Platform and RBI reports on payments to build on their submission. In addition, they can access any other open data platforms that they are aware of along with the Setu AA Sandbox or the Setu Payments Sandbox to develop their hacks. By the end of the event, participants will be required to present a working prototype of their hack to the judges, post which each hack will be judged based on certain parameters.

The winning team will be awarded Rs 1,50,000. Two teams, in second and third places, will win Rs 1 lakh and Rs 75,000, respectively. However, PhonePe mentioned that judges may decide to award fewer or more prizes depending on the hacks submitted.