Real-Time Payments Create Global Opportunities
New Delhi, September 9
India’s leadership in real-time payments could help create several billion-dollar fintech companies capable of expanding into global markets, Razorpay CEO Harshil Mathur said during a session at the Global Fintech Fest.
Mathur pointed to India’s position in global real-time payments and compared the opportunity with the emergence of major US technology companies during the country’s internet expansion.
He said around 49% of real-time payments worldwide are taking place through India, creating a strong foundation for Indian companies to develop products that can be deployed in other markets.
According to Mathur, India’s payment ecosystem benefited from a model in which policymakers and regulators established the underlying infrastructure while private companies built solutions on top of it. He cited UPI as an example of this approach.
Mathur said several emerging Southeast Asian markets are now developing real-time payment systems and face challenges similar to those India encountered. Fragmented markets, multiple languages, growing internet penetration and relatively lower card penetration could create opportunities for fintech companies to develop locally relevant solutions.
He also discussed the impact of artificial intelligence on businesses, describing AI as one of the most powerful technologies developed so far while acknowledging that its full range of risks is not yet understood.
Mathur argued that technological risks should be addressed through technology itself. Rather than slowing AI deployment, he said companies should accelerate the development of defensive technologies to manage emerging risks.
