India moves up to 28th rank in govt e-payment adoption: Visa

Highlights:

  • According to the survey by payments company Visa, India's overall ranking on the government's adoption of e-payments has moved up to 28th in 2018, from 36th in 2011.
  • It needs to do more on digital infrastructure access and socio-economic factors.
  • The country is taking "rapid strides" in advancing government e-payments capabilities and is one of the top-performing countries in terms of citizen-to-government (C2G), business-to-government (B2G) and government-to-business (G2B) transactions.
  • The country holds the top ranking on B2G and G2B, and comes third on C2G jointly with Argentina.
  • Norway leads the pack in the 73-country ranking, followed by France and Denmark.
  • The 73-country survey, which was last conducted in 2011, looks at availability of government electronic transaction services and the underlying environment of mechanisms that support digitisation for all transactions in a market, such as policy and infrastructure.
  • India is at the 58th place for digital infrastructure and lags significantly in the development of digital infrastructure and socio-economic conditions, according to the survey.
  • The same is also the case with payment acceptance infrastructure, where the country lags behind despite the government efforts.
  • India is placed 60th among the 73 countries surveyed on socio-economic development
  • The country was also found to be lacking in the policy context, at the 40th rank, the survey said, specifically pointing out that work on protecting intellectual property rights can improve the ranking.
  • Foreign firms also face restrictions ability to access funding from domestic sources, which could create another barrier to entry.
  • The country has done well on financial inclusion, its overall performance in inclusiveness dropped due to a lack of government integration of the informal economy.