Digital Payment Systems Discussed at Global Partnership for Financial Inclusion
Meeting in Hyderabad
9th March, Chennai: The 2 nd meeting of the Global Partnership for Financial Inclusion (GPFI)
under the G20 India Presidency began in Hyderabad on March 6. The meeting deliberated on
the role of stakeholders in harnessing innovations in digital payment systems and designing
payment DPIs for inclusive growth. There was also discussion on leveraging digital public
infrastructure for financial inclusion and productivity gains. This meeting of GPFI will
continue till March 7.
During the panel discussion, Dr. Ruth Goodwin Groen, MD, Better Than Cash Alliance,
made a presentation on the development of innovative payment systems. This was followed
by a panel discussion on “Symposium on Digital Payments and Remittances”. Key
deliverables for the year, including digital financial inclusion, SME finance and development
of the Financial Inclusion Action Plan 2023, will be discussed during the two-day GPFI
meeting. This action plan will guide the financial inclusion action for 2024. Representatives
from various countries including Bangladesh, Bhutan, Egypt, Ethiopia, Ghana, Jordan,
Malawi, Maldives, Nepal, Oman, Philippines, Poland, Senegal, Sierra Leone, Sri Lanka,
Thailand, Vietnam are participating in the meeting. The GPFI Working Group of the G20
Finance Track is designed to be a comprehensive platform for all G20 countries, non-G20
countries and relevant stakeholders to improve financial inclusion around the world.
The meeting was preceded by the inaugural session of the event titled ‘India and the Global
South: A Vision for a Shared Future’ in Hyderabad. The first GPFI meeting was held in
Kolkata from January 9-11 where the members discussed and agreed on the work program
and priorities for the year.