Special report | Emerging markets
A digital payments revolution in India
How emerging economies from India to Brazil built alternative payments models
Take a walk on Mumbai’s Juhu beach and little has changed in five years—except for the QR codes adorning every food stall. Go to São Paulo in Brazil, Beijing in China, or many other cities across the emerging world and you find something similar. “Most people only want to use UPI,” says Govind, a seaside-snack vendor at Juhu, referring to India’s fast-growing payments network.
This article appeared in the Special report section of the print edition under the headline “A payments revolution”
From the May 20th 2023 edition
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