Interoperable

All banks and non-banks licensed to hold accounts such as commercial banks, e-money issuers, and microfinance institutions must be eligible to participate in the Scheme, ensuring that any end user can pay or be paid by any other end user digitally, regardless of the DFSP they use.

Why It Matters

This fosters competition — which ultimately lowers cost to end users — expands access, and ensures a seamless payment experience, making the IPS more inclusive, and useful for underserved communities.

Related Resources

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