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India’s global digital infrastructure proposal faces pushback


India’s proposal to establish a standardized global digital public infrastructure framework within the G20 leaders’ communique is facing resistance from certain developed countries.

They argue that this move may hinder the growth of global private payment processors like Visa and Mastercard. The pushback comes as more countries are adopting India’s United Payments Interface (UPI), causing Visa and Mastercard to lose market share.

Lobby groups in wealthy nations are concerned about India’s global payments infrastructure proposal and its potential impact on the dominance of these private payment processors.

Despite the resistance, India remains committed to advocating for its vision of an interoperable digital public infrastructure on a global scale. The outcome of this proposal will have significant implications for the future of digital payments and the competitive landscape among international payment service providers.

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