Drivers of Digital Payment Growth in Emerging Economies

Ramesh Kumar

World Economics, 2026, vol. 27, issue 1, 131-150

Abstract: The paper examines the key drivers behind the rapid growth of digital payments in the BRICS countries (Brazil, Russia, India, China, and South Africa), identifying technological, economic, regulatory, and social factors as the main motivators for widespread adoption. Drawing on secondary sources—including government reports, financial databases, fintech industry analyses, case studies, and transactional data from mobile wallets, online banking, and other financial technologies—the study traces the evolution and increasing use of digital payment systems across these emerging markets. Findings highlight the critical roles played by government policies promoting financial inclusion, high mobile phone penetration, technological advancements, and infrastructure development in accelerating the shift toward digital payments in BRICS nations. The paper offers policy recommendations for BRICS governments to implement targeted changes that further boost digital payment adoption, aiming to support sustainable economic growth and enhance overall financial inclusivity.

Date: 2026
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