How many Asian countries use real-time gross settlement systems similar to India’s Aadhaar-enabled payment system?
Payments
Asked by Question Bot06/Aug/20151 answer
1 Answer
F
Faisal Khan
Answered 06/Aug/2015
Very few, a lot many countries however, are working on it (Pakistan, Bangladesh, Indonesia, Philippines, Chile, Argentina (?), Brazil, Kenya, Egypt, Morocco, Thailand, etc. to name a few).
If you are asking purely from an RTGS point of view, then you must know, real-time payments are available in quite a few countries (See: Real-time gross settlement). Though one must say this Wikipedia article refers only to the RTGS systems, ATM host based switches which are prevalent all over the world, are not part and parcel of this list. There are quite a few payment switches like that.
Aadhaar is bank-led and bank driven. It essentially works on a very large trusted distribution network, that ties in all the transactions together, and with POS and/or Human ATMs, micro transactions can be conducted.
Such a payment system, many believe is the next step in the evolutionary process of a micro-finance bank or a bank that is specializing in the work of branchless banking and promoting its mobile wallet.
*Argentina has put its plans for a mini-roll-out on hold at present.
If you are asking purely from an RTGS point of view, then you must know, real-time payments are available in quite a few countries (See: Real-time gross settlement). Though one must say this Wikipedia article refers only to the RTGS systems, ATM host based switches which are prevalent all over the world, are not part and parcel of this list. There are quite a few payment switches like that.
Aadhaar is bank-led and bank driven. It essentially works on a very large trusted distribution network, that ties in all the transactions together, and with POS and/or Human ATMs, micro transactions can be conducted.
Such a payment system, many believe is the next step in the evolutionary process of a micro-finance bank or a bank that is specializing in the work of branchless banking and promoting its mobile wallet.
*Argentina has put its plans for a mini-roll-out on hold at present.