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Digital payment ecosystems and financial inclusion: Comparative analysis of UPI in India and PIX in Brazil

Year: 2025

Type: article

Abstract: This article examines how digital payment systems, specifically India's Unified Payments Interface (UPI) and Brazil's PIX, contribute to financial inclusion in emerging markets. Through a mixed-methods approach combining transaction data analysis, user surveys, and stakeholder interviews, the article investigates how these real-time payment infrastructures compare to traditional banking systems in terms of accessibility, transaction costs, and user experience for underserved populations. The comparative analysis reveals distinct implementation strategies and adoption patterns while highlighting common success factors and challenges. Findings indicate that these digital payment ecosystems significantly reduce barriers to financial services, particularly for rural and lower-income segments, while stimulating micro-entrepreneurship and formal economic participation. This article provides valuable insights for policymakers and financial institutions seeking to leverage digital payment technologies to enhance financial inclusion and economic development in similar emerging market contexts.

Source: Global Journal of Engineering and Technology Advances

DOI: 10.5281/zenodo.17747729

Authors: Ajay Venkat, Nagrale, Shivansh, Chandnani

Institutions: Meta (United States), University of Illinois Urbana-Champaign, University of Illinois System

Language: English

Topic: Microfinance and Financial Inclusion

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Reduced inequalities, Industry, innovation and infrastructure

Open Access status: hybrid

OpenAlex ID: W7107953041

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