Chapter 8

Safety, Security
and Interoperability

The single most important aspect of digital payments is ensuring the safety and security of the system from fraud and abuse. Government of India should embrace best practices and experience of both global and local players in building state-of-the-art systems to fortify protections for consumers, businesses and government.

Security threats are global and originate from outside of India. Advance warning and fortification against threats is critical.  Isolating payment to a national system ignores the very nature of the security threat and creates a single point of failure.  Multiple platforms and players that result from payment neutral system create layers of security and expertise to create important leverage against security threats.
Security is a never-ending issue. Constant innovation and a free market that promotes and rewards the best solutions is needed to stay ahead of the curve. Universal Access to Infrastructure and Open Payment Systems means more companies in the fight for safety and security of payment systems.

Similarly, interoperability is best enabled through a payment neutral market. Without the ability to accept all payments, how will merchants, traders and consumers participate and conduct international commerce? How will merchants and traders accommodate foreign customers? No establishment wants to turn away a willing customer. Interoperability is critical to participating in an increasingly global market. This is especially for true for small merchants and traders who must now compete against large online players who serve customers around the world and accept all forms of payments. India must be able to compete.

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