 "Digital payment, e-payment")
Why is India’s payment industry dominated by a handful of banks and a couple of fintech companies? What makes it so hard to make it big in the digital payments space in a country where only 12 per cent of transactions happens digitally even as the government has taken up digitisation as one of its major flagship programmes? These are a few questions that the central bank is perhaps trying to answer in the process of writing a policy paper, expected to be released by September, on increasing participation of smaller players in the payments ecosystem.
On June 6, the
