The lessons learned from the NPCI success story can be useful for policy makers in financial inclusion and other markets. Some factors illustrated in the NPCI story include:
- An industry-led approach to ownership and governance, with strong regulator backing.
- Competitive economics through a utility model, mixed with smart growth and a start-up culture.
- A strategy of incremental, open-source product development.
- A government/regulator that uses carrots and not only sticks.
- A government/regulator that balances caution with progress.