Tag: digital payments ecosystem in India

The previous blog discussed the state of India’s digital payments ecosystem. This blog looks at where and how it may evolve further.

This is the first blog in a three-blog series on the whitepaper titled “How Digital Payments Drive Financial Inclusion in India. The series is built around the whitepaper, which provides evidence-backed insights on the evolution of digital payments in India and the current barriers and triggers for providers and users. It also covers critical use cases that can steer the shift toward digital payments for the mass market—and the concerted efforts needed from different stakeholders to make that shift possible.

In 2019, Bank Indonesia launched the Quick Response Indonesian Standard (QRIS) solution as part of its payment system vision for 2025 to encourage Indonesia’s 65 million MSMEs to adopt cashless payments. This blog explores challenges in the implementation of QRIS and offers recommendations to improve its uptake in Indonesia.