Retail Fast Payment Systems and Digital Finance Adoption

This research article explores the impact of retail fast payment systems (FPS) on the adoption of digital finance apps across 95 countries from 2012 to 2022. It highlights how FPS like Brazil's Pix and India's UPI have driven higher app usage, particularly in lower-income economies, and facilitated entry by fintech and big tech companies. The findings underscore the importance of central bank engagement and real-time capabilities in promoting digital finance.