The evolution of payments in India—the state of play
In recent years, India has moved to a leading position in digital payments and developed an ecosystem that enables the uptake and usage of digital payments. Many countries now seek to replicate India’s payments systems, particularly the Unified Payments Interface (UPI). This blog highlights the evolution of India’s payments landscape and looks into issues and ideas that contributed to this evolution. It briefly discusses the controversial waiver of the merchant discount rate (MDR) to increase the number of use cases in the person-to-merchant (P2M) category.
Grievance redress mechanisms in welfare programs: A milestone yet to be achieved
This blog identifies the challenges in grievance resolution for Direct Benefit Transfer programs in India. It suggests ways to reform the existing Grievance Redress Mechanism (GRM) to ensure maximum inclusion of eligible beneficiaries in these programs.
Women at the heart of G2P initiatives: The Primary Education Stipends Program in Bangladesh
MSC and the Center for Global Development (CGD) assessed Bangladesh’s Primary Education Stipends Program (PESP), a gender-centric cash transfer program to improve primary school attendance rates. Over the years, benefit delivery of PESP evolved from cash disbursement to digital stipend transfers. Key evidence from our assessment shows women prefer digital transfers to cash-in-hand. Our blog shares evidence from the study using the “Design, Direct, and Digitize” (D3) framework to make a case for women beneficiaries as better contenders for G2P programs. Our blog looks beyond the impact of PESP on program outcomes—and highlights the socioeconomic implications of mobile money on women and the role PESP plays in gender equity and inclusion.
This blog is the last of a three-part blog series. The blog highlights payment solutions that can lead to higher adoption and usage of digital payments in India by 2025 and drive financial inclusion by taking digital payments to the last mile.
Retail digital payments in India: A massive opportunity worth at least INR 45 billion (USD 608 million)
This blog is the second in a three-part blog series. The blog highlights use cases where digitizing even a conservative 10% of the current cash-based transactions presents service providers with a supplemental opportunity worth more than INR 45 billion (~USD 608 million).