Imagine a world where all financial transactions — from daily grocery purchases to bill splits between friends to tax remittances — could be done instantly from the palm of your hand. Or a world where small businesses and street vendors in emerging economies around the world don’t hesitate before accepting digital payments.
In 2022, India’s Unified Payment Interface (UPI) and Brazil’s Pix ranked as the first and the second most used real-time digital payment systems in the world, accounting for 46% and 15% of global real-time payments transactions respectively.
This piece aims to draw out the similarities and differences between the countries’ technology, governance, and market choices that may inform other countries in the design and build of open finance payments solutions.
Read it here
