What is primarily motivating some countries to undergo infrastructural transformation in payment systems?

The primary motivation for some countries to undergo infrastructural transformation in payment systems is the need for modernizing legacy payment platforms. Many existing payment systems are outdated, can be inefficient, and may not support the latest technological advancements or the increasing demand for faster, more secure payment options. Legacy systems often struggle with issues like long transaction times, limited interoperability between different payment methods, and difficulties in scaling to accommodate growing transaction volumes.

By modernizing these platforms, countries aim to integrate new technologies such as real-time payment processing, enhanced security protocols, and improved user experiences. This transformation is crucial for maintaining competitiveness in a rapidly evolving financial landscape, particularly as consumers and businesses alike expect seamless, fast, and reliable payment solutions. Overall, modernizing payment infrastructure is essential to foster economic growth, support financial inclusion, and promote innovation in financial services.