OnDemand Video Module

Introduction

With the introduction of the Payment and Settlement Systems Act of 2007, India set itself on a bold mission to modernize its payments infrastructure and in the process has become a case study for payments systems transformation at scale. In this session we review the core components of India’s modern retail payments system. We explore initiatives such as the Bank of India’s 2011 recommendation to introduce the Aadhaar-based eKYC process. The session also considers the delicate balancing act required to maintain competition and control within a national payments infrastructure.

Topics Covered

Topics covered include background and context to understand India’s payments modernization efforts, the core components of the retail payments system and technical stack, and what we’re watching as national and international fintechs introduce payments services for a variety of domains.

Learning Objectives

This webinar is designed to provide a contextual overview of India’s retail payments systems along with information on how this new payments infrastructure is enabling a shift from cash to digital payments.