Swiping right on digital payments: Nilekani-led panel to revamp the system

The high-level committee on deepening digital payments, set up by RBI, has listed various measures to improve financial inclusion.  Among others, the panel has recommended a reduction in costs for merchants, acquirers and customers and expansion of the acceptance infrastructure. The digital payments industry has said efficient implementation of the recommendations could accelerate the growth of digital transactions. A look at some of the recommendations of the panel, which is led by Infosys co-founder Nandan Nilekani.

Accelerating acceptance
 

Banks have issued about a billion debit cards and 50 million credit cards. But acceptance is still low from the