Building an ecosystem of collections through BBPS
Digital payments in India have surged, projected to exceed $10 trillion by 2026. A key contributor is the digitization of bill payments and collections, with BBPS aiming to be India’s primary collections platform, offering secure and standardized solutions. MSC explores BBPS’s journey and future potential in this white paper.
Sep 6, 2023
The evolution of payments in India—looking ahead
The previous blog discussed the state of India’s digital payments ecosystem. This blog looks at where and how it may evolve further.
Sep 29, 2022
Graham Wright, Akshat Pathak, Disha Bhavnani, Shweta Menon and Diya Chatterjee
Sep 29, 2022
Graham Wright, Akshat Pathak, Disha Bhavnani, Shweta Menon and Diya Chatterjee
How do we envision digital payments beyond 2022?
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.
Sep 27, 2022
How have low-income communities embraced digital payments in India?
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.
Sep 23, 2022
Mitali and Shweta Menon
How digital payments drive financial inclusion in India
Digital payments in India have grown phenomenally in the past decade. This report highlights how digital payments in the country grew and charts the path ahead. We look at the journey of digital payments in India, major events and entities that contributed to it, and products that revolutionized the digital payments space. We also identify barriers to the digital payments sector and analyze the future of digital financial inclusion through payments for the low- and moderate-income segments in India.
Sep 20, 2022
Disha Bhavnani, Manali Jain, Vishes Jena, Akshat Pathak, Shweta Menon and Maansi Sharda
Sep 20, 2022
Disha Bhavnani, Manali Jain, Vishes Jena, Akshat Pathak, Shweta Menon and Maansi Sharda
How can financial institutions provide handholding support for the elderly?
Bhupen, a young chef from Tripura, India, uses mobile apps for remittances, as well as merchant and bill payments. He has grown fond of digital payments after his coworkers in New Delhi introduced him to payment apps. However, he discovered a different situation when he returned home to Tripura during the second wave of COVID-19. He tried to introduce his elderly father to the mobile-based payments ecosystem after seeing him risk infection to make monthly recurring deposit (RD) payments in the post-office. Bhupen and others highlight the digital revolution brewing in rural Indian households. This blog examines how we can replicate this approach beyond India to extend digital financial services to the elderly and make them digitally self-reliant.
Sep 6, 2022
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