Standardized payment interfaces as Digital Public Infrastructure: learning from the experience in India and Brazil

Cataldo, Bruna, Galdino, Larissa, Zingales, Nicolo and Parsheera, Smriti (2024). Standardized payment interfaces as Digital Public Infrastructure: learning from the experience in India and Brazil. Brazilian Presidency of the G20+.

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  • Sub-type Policy brief
    Author Cataldo, Bruna
    Galdino, Larissa
    Zingales, Nicolo
    Parsheera, Smriti
    Title Standardized payment interfaces as Digital Public Infrastructure: learning from the experience in India and Brazil
    Publication Date 2024
    Place of Publication Brasilia
    Publisher Brazilian Presidency of the G20+
    Pages 20
    Language eng
    Abstract In a world transformed by digitalization, the adoption of digital payments centric digital public infrastructure (DPI) has become a key public policy topic. This policy brief reviews the payments DPI approach in two leading jurisdictions – Brazil and India – to study the evolution of these systems and the lessons that can be learned from their experiences. Based on this analysis, we offer five guiding rails that can guide the move towards adoption of standardized payment interfaces among G20 nations and in other parts of the world and to improve the outcomes of existing systems. The recommendations focus on a) building robust metrics for measuring the successes and failures of DPI interventions, b) careful and holistic assessment of competitive effects, c) collaborative governance structures instead of a top-down approach, d) user-centric approach to data management and multiple channels for assistance to users, and e) mechanisms for ensuring the system’s accountability to an independent regulator, system participants, and end users.
    Keyword Digital Finance
    Digital Public Infrastructure
    Governance
    Data
    Capabilities
    Copyright Holder Brazilian Presidency of the G20+
    Copyright Year 2024
    Copyright type All rights reserved
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    Created: Wed, 25 Sep 2024, 18:19:20 JST by Diogo Ruao on behalf of UNU EGOV