What enabled the building of a national payments infrastructure with per-transaction costs below a tenth of a rupee?: Dr. R Srinivasan

In today’s ET BFSI, Dr. R Srinivasan, Strategy area and Chairperson, Center for Digital Public Goods (CDPG) and Balakrishnan Mahadevan, Post-doc fellow, CDPG, ask us to consider what it means to have built a scalable, inclusive, interoperable national payments infrastructure that has managed to make the cost of maintaining per transaction less than a tenth of a rupee.

‘NPCI and the Value of Frugality and Transparency in National Payments Infrastructure’ reveals that, with a lean, purpose-built architecture, NPCI’s entire capitalized systems base, supporting UPI, IMPS, RuPay, NETC and more, stands at just $203 million.