Digital Payments

President Claudia Sheinbaum aims for the mass adoption of digital payments in Mexico. This initiative is designed to help stem issues such as tax evasion, corruption, and organized crime.

According to Reserve Bank of India Deputy Governor Shirish Chandra Murmu, India's rapid adoption of digital payments has not reduced demand for cash. This continued reliance on currency makes it difficult to accurately predict how much money will be needed.

The State Bank of Pakistan (SBP) has capped digital transaction fees for petroleum sales at Re1 per litre for card payments and 20 paisas per litre for QR/online transactions to reduce financial strain on fuel stations. The move addresses complaints from petroleum dealers about high prior fees (Rs3-4 per litre) and aims to promote digital inclusion via Raast QR adoption, with the policy valid until January 31, 2027.

The Asian Infrastructure Investment Bank (AIIB) is exploring tokenized payments and digital settlement systems, leveraging Hong Kong’s digital finance ecosystem to modernize its capital market operations. A senior official at AIIB confirmed the bank’s interest in these technologies during an interview with the South China Morning Post.

Hong Kong consumers increased cross-border shopping in mainland China due to lower prices and wider digital payment adoption. UnionPay data shows a nearly 30% year-on-year rise in offline card spending by Hong Kong residents in mainland China, with online transactions growing even faster in the first half of 2026.

Hong Kong consumers increased cross-border shopping in mainland China, with UnionPay data showing a 30% year-on-year rise in offline spending and stronger online transaction growth in H1 2026, driven by lower prices and digital payment adoption.

Stripe is making a $53 billion bid to acquire PayPal in a strategic move to dominate the future of digital payments.

The fintech ETF segment has declined an average of 19% over the past year with $146 million in net outflows. Six fintech ETFs are highlighted, including ARK Blockchain & Fintech Innovation ETF (ARKF) and Global X FinTech ETF (FINX), which track themes like blockchain, digital payments, and financial software.

Prime Minister Shehbaz Sharif directed the full digitisation of remittances from abroad as part of efforts to establish a cashless economy. He emphasized enhancing digital payment adoption through QR code campaigns and praised a 300% increase in merchants using such systems.

Karnataka has issued a Standard Operating Procedure (SOP) for managing hundi transactions and is promoting digital payments. The initiative aims to regulate informal financial practices while encouraging adoption of digital payment methods.

Digital payments in Pakistan have grown rapidly since 2010, with 88% of retail payments flowing through digital channels in FY25. Branchless banking app users reached 79.2 million, POS machines increased by 260% in nine years, and QR-enabled merchants exceeded 1 million. This shift is transforming economic activity by enabling traceable transactions, expanding business credit access, and fostering a gig economy.

Banxico has published new rules to boost digital payments and bank accounts. The initiative is intended to encourage the use of digital transactions and increase the number of bank accounts.

UBA Plc won the 2026 Banker Technology Award for AI innovation and launched an upgraded mobile app. The award recognizes the bank's innovations in digital payments, e-business, and AI-driven cross-border banking across over 20 African markets.

The article explores the future of the US Dollar in a cashless society, questioning its dominance as digital payment systems and cryptocurrencies gain traction. It highlights the potential challenges to traditional currency in an increasingly digitized financial landscape.