RBI Payment Vision - 2025

Payments Vision 2025 has been prepared by considering the guidance from the Board for Regulation and Supervision of Payment and Settlement Systems of the RBI. It builds on the initiatives of Payments Vision 2019-21.

The Payments Vision 2025 is presented across the five anchor goalposts of Integrity, Inclusion, Innovation, Institutionalisation and Internationalisation.


E-Payments for Everyone, Everywhere, Everytime (4Es).


To elevate the payment systems towards a realm of empowering users with affordable payment options accessible anytime and anywhere with convenience.

To enable geo-tagging of digital payment infrastructure and transactions and revisiting guidelines for Prepaid Payment Instruments (PPIs), including closed system PPIs.

Regulating all significant intermediaries in payments ecosystems and linking credit cards and credit components of banking products to UPI.

To bring in enhancements to Cheque Truncation System (CTS), including One Nation One Grid clearing and settlement perspective, and creating a payment system for processing online merchant payments using internet and mobile banking.

Regulation of BigTechs and FinTechs in the payments space.

Examining of BNPL (Book Now Pay Later) methods and exploration of appropriate guidelines on payments involving BNPL.

Goals to Achieve:

  • Volume of cheque-based payments to be less than 0.25% of the total retail payments.
  • Tripling the number of digital payment transactions.
  • UPI to register average annualised growth of 50% and IMPS / NEFT at 20%.
  • Increase of payment transaction turnover vis-à-vis GDP to 8.
  • Increase in debit card transactions at PoS (Point of Sale) by 20%.
  • Debit card usage to surpass credit cards in terms of value.
  • Increase in PPI transactions by 150%.
  • Card acceptance infrastructure to increase to 250 lakh.
  • Increase of registered customer base for mobile based transactions by 50% CAGR.
  • Reduction in Cash in Circulation (CIC) as a percentage of GDP.

What is the Significance of the Move?

The RBI’s Payments Vision 2025 will be significant in shaping India's payment ecosystem, propelling a safer, more secured, and seamless payment infrastructure.

Yardstick to All Payment Players:

Payments Vision 2025 will act as a yardstick for all payment players, FinTech's and other stakeholders, encouraging them to enhance their capabilities by aligning with the RBI’s overall objectives.

Global Reach:

Through initiatives such as UPI, the RBI has democratised payments within India. With the 2025 vision, payments will be available for ‘Everyone, Everywhere, Every time’, giving global reach to Indian payment systems, making them safe, secure, fast, convenient, and affordable.

Go to: rbicompliance.com

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