USAID Launches Catalyst to Drive Cashless Payments in India
Tuesday, October 18, 2016
The U.S. Agency for International Development (USAID) on Friday announced the launch of a new initiative “Catalyst: Inclusive Cashless Payment Partnership” (www.cashlesscatalyst.org).
This multi-stakeholder partnership is designed to scale digital payments systems in India, catalyzing an exponential increase in cashless payments in select geographic locations.
These locations will be selected based on criteria such as smartphone penetration, the local economy, and administrative feasibility.
This launch marks the next phase of partnership between USAID and India’s Ministry of Finance to help catalyze the rapid adoption of digital payments in India as a step toward achieving Prime Minister Narendra Modi’s vision of universal financial inclusion to end “economic untouchability” in India.
Source: Indiablooms (link opens in a new window)