The Union Budget 2017-18 announced the creation of a National Digital Payment Mission with a target of 2,500 crore digital transactions for 2017-18 through digital payment modes including UPI, USSD, IMPS, Aadhaar Pay and Debit Cards.
The NDPM will launch focused initiatives for establishing a robust, secure and inclusive Pan-India digital payment eco-system, which can be accessed by all sections of the society. The NDPM will have the following objectives:
- Promoting and overseeing the establishment, growth and sustenance of a robust, secure and inclusive National Digital Payments ecosystem.
- Creating requisite enabling infrastructure for Government’s Digital Payments Service Delivery, Electronics Payments and Receipts (EPR) and Direct Benefit Transfer programmes
- Evolving appropriate standards for efficient, affordable and secure Digital Payments Service delivery
- Ensuring security of digital payments ecosystem.
- Promoting research and innovation, including the development of new digital payment products, platforms, services and sustainable delivery models