Digital Payments: A Game Changer for the India Economy

Digital Payments: Driving Economic Growth in India

The global payments industry is experiencing rapid evolution, significantly impacting digital commerce and financial inclusion worldwide. India leads this change, with its India Stack serving as a transformative catalyst for making digital payments accessible to everyone.

Financial Inclusion Targets Achieved

Remarkably, India has achieved a financial inclusion target of 80%, propelling it to become the world’s fifth-largest economy. This remarkable progress in the less-cash initiative is crucial for integrating half a billion underserved individuals into the economic framework.

Empowering Women through Digital Payments

India's digital payments infrastructure is pivotal in creating opportunities for women, with 55% of Indian women possessing bank accounts. Furthermore, women now lead over 20% of India’s micro, small, and medium-sized enterprises (MSMEs).

Partnerships for Growth

• Visa is committed to advancing financial inclusion.
• Support directed towards women-owned businesses through capital access.
• Collaborations with Indian NGOs to empower small enterprises.

Ensuring Security in Digital Transactions

The urgency for a secure payments framework is paramount as cyber threats proliferate. With more than $10 billion invested globally, Visa employs cutting-edge solutions to prevent fraud, saving customers an estimated $40 billion annually.

Homegrown Innovations

Many of Visa’s products and solutions are developed by technologists in India, reflecting a global benefit from India’s technological prowess.