Last year, UPI processed over a trillion dollars in transactions. That's equivalent to a third of India's GDP. But what's really interesting is the differences between its approach and other systems like China's Alipay or M-PESA in Kenya. The reason why digital payments are quite a game changer for emerging markets is in large part because they produce so much data.
The global digital-payments shift is more than just a matter of convenience. We examine the cashlessness push in different economies and potential effects on different currencies. The Golden Mile, a pioneering multi-purpose architectural experiment in Singapore, is crumbling. We discuss efforts to spare it from the wrecking ball. And a reading list to learn about, and from, history’s greatest hoaxes.
For full access to print, digital and audio editions of The Economist, try a free 30-day digital subscription by going to www.economist.com/intelligenceoffer