Chapter 2

Universal Access to Infrastructure and Open Payment Systems Defined

Universal Access to Infrastructure and an Open Payments System ensures consumers, merchants and banks have multiple compatible choices in interoperable technology. This is critical to build and scale a secure national digital payments roadmap enabling adoption in India than any single technology or closed system, which prevents growth.

Similar to net neutrality, the electronic payments system in India should establish a free and open market for electronic payments services, technologies and networks and allow universal access to all infrastructure and “rails” the government is developing to promote digital economy.  Competition will create a “race-to-the-top” amongst payment providers and government that will drive innovation, grow acceptance and deliver the best value to businesses, consumers and government across India.

These policies facilitate better infrastructure, a free market and the safest most secure payments among financial institutions, digital wallets, payment networks, and governments. Universal Access to Infrastructure and Open Payment Systems for India is a call to participation, collaboration and building for the private sector and government to come together for the benefit of society. The actualisation of “Cashless Society” and “Digital Economy” embodied by 2500 crore transaction goal relies on the contribution and resources of all segments of the economy. Universal Access and an Open Payments System will empower all parties to have the freedom to participate, compete and contribute.

Together we can build the best electronic payments system for a Less-Cash India.