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On 15 May the Reserve Bank of India (RBI) released its ‘Payment and Settlement Systems in India: Vision 2019–2021’, outlining the road map for the 3-year period spanning 2019 to 2021. The key milestones are focused on accelerating the growth of e-payment systems, both in terms of number of transactions and increased availability.
💳 Card payments
Growth in adoption of digital payments for retail purchases is expected to be driven by a 35% increase in debit card transactions as well as continued growth in PPI transactions over the 3-year period. Of total debit card transactions (PoS + ATM), payment transactions @PoS are expected to be at least 44% of total debit card transactions by end 2021. RBI is also driving initiatives that will increase payments acceptance infrastructure in India by 6 times over the next 3 years.
 

📱 Mobile payments
The overall number of digital transactions is expected to increase more than four times, from 20.69 billion in December 2018 to 87.07 billion in December 2021. Further facilitation of mobile payments is expected to incent already registered customers to increase mobile payment transactions by 50%. The volume of mobile payments will be increased significantly by UPI real-time consumer payments on mobile which are expected to achieve average annualised growth of over 100%.
 

🤖 Payments acceptance
Card acceptance infrastructure will be increased with a substantial portion of the infrastructure processing contactless card payments. At current growth levels RBI expects 5M PoS acceptance points to be active by end 2021. Digital acceptance for QR codes is also expected to increase substantially. The card acceptance infrastructure will be driven by targets for PoS terminal deployment with a focus on mobile PoS and low-cost acceptance devices to facilitate adoption of digital payments where cash continues to dominate, such as regions beyond tier 1 and 2 cities and in India's rapidly growing e-commerce sector where cash on delivery still dominates.
Why attend

Digital Payments South Asia directly addresses the target objectives of RBI’s Payment and Settlement Systems in India: Vision – 2019-2021 and explores how these objectives can be achieved. This is an international conference that will examine these objectives from the Indian context as well as with reference to developments in other Asian markets. 

- Join card issuers, acquirers, mobile wallet companies, third-party payment providers, domestic and international payments schemes and payments experts exploring how to leverage the objectives set out in the Vision – 2019-2021 document to build their payments businesses

- International delegates will have the opportunity to understand why India is the world's fastest-growing consumer payments market and how banks and nonbanks are collaborating on card, mobile and real-time payments to achieve the government objectives for digital payments.
Digital Payments South Asia includes a focused technology exposition offering a limited number of opportunities for organisations providing payment services and solutions. Exhibitors will be able to demonstrate their payments services and acceptance solutions to financial institutions, payment schemes, e-payments companies and merchants from India, South Asia and Asia Pacific markets.

 Contact us for packages available: 
Abhijit Sengupta, Director, APSCA India at 
📧 abhijit@apsca.org or 📞 +91 98310 01116 / +91 98731 30155.
Mounisse Chadli, Business Development Manager, APSCA Asia Pacific at 
📧mounisse.chadli@apsca.org or 📞 +86 15618790417.
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