Tag: digital payments ecosystem

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

India’s digital payments landscape has transformed dramatically over the past five years. This report, published in collaboration with the National Payments Corporation of India, provides a detailed outlook on India’s journey of digital payments, factors affecting the adoption of digital payments among the LMI segment, and products that have revolutionized the space.

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.