India moves to mobile payments

National Payments Corporation of India (NPCI) has published the first draft of a specification that will be used to introduce an electronic payments system that leverages both mobile payments and Aadhaar, India’s biometrics-based ID system. “This Unified Payment Interface document provides a payments architecture that is directly linked to achieving the goals of universal electronic payments, a less cash society and financial inclusion using the latest technology trends,” NPCI says.