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ARTICLE · 13 OCTOBER 2016

Understanding The Emerging Frontiers In Payments Systems

Deloitte
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It was the Whatsapp moment for the banking sector when Nandan Nilekani launched the Unified Payments Interface on 11 April to the applause of RBI governor Raghuram Rajan and several leading industry captains in the country.

IndiaFinance and Banking
Monish Shah
Monish Shah

The following Deloitte professionals were involved in preparing the report: Nachiket Limaye, Rachit Mathur, Meenakshi Khurana, Vaibhav Anand, Sidharth Ravishankar, Narendra Verma and Bharat Jakati

FOREWORD

Foreseeing the Unseen!

It was the Whatsapp moment for the banking sector when Nandan Nilekani launched the Unified Payments Interface (UPI) on 11 April to the applause of RBI governor Raghuram Rajan and several leading industry captains in the country. Its originator, the National Payments Corporation of India, then said that this was just a modest beginning and a real revolution is yet to happen in the form of Bharat Bill Payment System (BBPS) and several other innovative payments systems that are being designed and developed. In the domain of banking, payments today is one of the most happening areas in terms of innovation, technology and business.

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