Payment innovation in India has significantly advanced financial inclusion and business growth. Key drivers include government infrastructure development, low-friction and high-speed transactions, and zero transaction fees from government and banks. India now leads globally in real-time digital transactions. PaymenTech has fostered financial inclusion through mobile banking apps, digital wallets, government initiatives like DBT and Pradhan Mantri Jan Dhan Yojana, UPI, alternative lending platforms, and QR codes. Innovations such as contactless payments, NFC technology, open banking, voice-activated payments, and cryptocurrency are reshaping the landscape. The rise of PaymenTech has led to a thriving fintech ecosystem, contributing to substantial industry growth and attracting significant funding.
Payment Innovation in India
