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  • 16 March, 2023

  • 3 Min Read

Har Payment Digital Mission

Har Payment Digital Mission

  • The Reserve Bank of India (RBI) has started a new initiative called "Har Payment Digital" as part of its aim to get every Indian using digital payments.
  • The campaign, which was started during Digital Payments Awareness Week, aims to increase awareness of how simple and convenient digital payments are while also bringing on new users.
  • Also, the Central Bank has launched a project to adopt 75 villages and provide them with the ability to accept digital payments. Operators of payment systems are supposed to embrace these villages.

About & Goals

  • As part of the project, Payment System Operators (PSOs) will adopt these villages throughout the nation and hold camps in each one with the goal of raising awareness and enlisting merchants for digital payments.
  • PSOs are organisations that the RBI has given permission to set up and run payment systems.
  • There are 67 PSOs in various categories as of February 2023, including retail payment organisations, card payment networks, ATM networks, prepaid payment instruments, etc.

Why is the Har Payment Digital Mission needed?

  • According to a poll performed by the Reserve Bank of India, only 42% of Indians are adopting digital payments. Although 35% are aware of them, they do not use digital payments. Regrettably, only 23% of Indians are even familiar with digital payments! Illiteracy and anxieties create barriers despite the most intensive teaching efforts. Even so, the mission can reach 23% of the population who are literate. Insecurity problems should be resolved by explaining to them the advantages of using digital payments and providing examples of people who have benefited from them.

What part does the Digital Mission for Har Payment play in Vision 2025?

  • "E-Payments for Everyone, Everywhere, and Every Time" is India's stated vision for the year 2025. By 2025, all payments will be made electronically. India will be able to reach this goal because of the RBI's objective.


  • The Har Payment Digital Campaign by the RBI aims to promote the simplicity and convenience of digital payments and make it easier for new customers to join the digital economy.
  • The operators of non-bank payment systems and banks are planning many initiatives to emphasise the many digital payment options.
  • The use of digital payments in the nation will be further encouraged and supported by this.

Significance of the Digital Payment

  • Load reduction: It will lessen the volume of tiny transactions on banking networks.
  • Effective: It will permit payments using more dated feature phones.
  • Digital Society: It is a path towards a society with fewer cash and credit cards and will enable the country's adoption of digital payments to a deeper level.
  • World Leader: This will further India's status as the industry leader in terms of digital payments.
  • Mobile Banking Growth: There has been a 50% increase in mobile banking users as a result of the shift in customer behaviour towards embracing digital and touchless ways of payment, which is partially attributed to the CoVID.
Challenges to Digital Payment
  • Frauds: As more people use digital payment methods, there will be an increase in payment fraud.
  • Domestic data storage for payments: Under certain restrictions, banks and non-bank PSOs are permitted to process payment transactions internationally.
  • Charges for digital payments: The Reserve Bank will also conduct a thorough analysis of all factors relating to costs for various digital payment channels.
  • One of the main challenges is to put confidence in the mind of people to show more trust in digital payment as many people are still afraid to use online modes of payment.
Way Forward
  • India's Digital Payment Ecosystem has changed, and the country has become a global leader in the production of digital assets, setting a good example for many other countries.

To assist India to become one of the world's most effective payment markets, the Indian government must exert greater effort.

Read Also: Digital Payment in India

Source: Indian Express

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