It is widely acknowledged that online payments in India is broken — on average, only 6 or 7 out of every 10 transactions succeed (Khan 2013). Citrus is a startup payments company based in Mumbai that is trying to change all of this. A senior executive at Sun Direct a prominent satellite...

M-Pesa's ultimate goal of converting every account into a fully functional open loop savings account is not without challenges, however. Abhishek Jain, for instance, has described KYC norms as a significant barrier to further progress — although he has also said that the growth of Aadhaar may...

In 2010, Sub-K iTransactions, a business correspondent start-up, implemented a pilot project on dairy payments with village cooperatives of Gujarat Cooperative Milk Marketing Federation. The company sought to migrate cooperatives' payments to farmers, such as revenues from milk or net services...

Cash is the only retail payment system that requires no system of accounts for counter-parties to transact. The only record of its possession is its tangible presence. Any two parties that can meet face to face can exchange cash without worrying about payment clearing and settlement, default...

Theorists have long considered the relational aspect of power, from the ancients to modern times. Power relationships in international trade are difficult to describe graphically, due to the high dimensionality of dyadic trade data. Trade relationships are nevertheless key features of the...

Deterrence theory, which was of enormous value during the nuclear era, cannot adequately prepare defense thinkers for future cyber conflicts. Instead, the best states can hope for is robust cooperation with other states and with private actors to improve their circumstances in future conflicts....