Regulating the digital payment industry
The payments terrain should expand and be enabled by regulations to accommodate new kinds of participants in the system
The 8 November 2016 event in India (8/11) is closely linked to the 11 September 2001 event in the US (9/11). The terror attacks led to a large exodus of funds and failures of payment systems brought in the federal banks in the US to aid the system. Correspondingly, the demonetisation event in India has posed for our scrutiny the robustness of our payment systems infrastructure.