New Delhi, Feb 21 || India’s Unified Payments Interface (UPI), the world’s largest real‑time payments system, has proved that inclusion and scale can go together and that a "public, interoperable model can surpass private networks," a new report said.
The report said it offers a template for developing countries in Asia, Africa and Latin America to achieve rapid digital‑payments growth without dependence on multinational corporations.
"It is no wonder that international organisations now cite India’s digital-payments architecture as a global benchmark," said the publication.
By moving money over 170 billion times per year across a billion people, instantly and cheaply, India proved that "the world’s digital financial highways could one day flow through the country," and signalled its arrival “as a global economic and high-tech superpower,” the report said.
"For a country that has lived through foreign-exchange shortages and external vulnerabilities in the past, this kind of sovereignty over payments infrastructure is strategically transformational," it said.