Better Than Cash Alliance (BTCA) – UPSC Prelims

  • BTCA is a partnership of governments, companies, and international organizations that accelerates the transition from cash to responsible digital payments to help achieve the Sustainable Development Goals.
  • Foundation: It was launched by the United Nations Capital Development Fund, the United States Agency for International Development, the Bill & Melinda Gates Foundation, Citigroup, the Ford Foundation, the Omidyar Network, and Visa Inc.
  • It is based at the United Nations.
  • It was created in 2012.
  • Members: The Alliance has 75 members which are committed to digitizing payments in order to boost efficiency, transparency, women’s economic participation and financial inclusion, helping build economies that are digital and inclusive.
  • Members do not want to abolish physical cash but rather want to provide responsible digital payment options that are “better than cash”.
  • India became a member of the Better Than Cash Alliance in 2015 to digitize payments to achieve financial inclusion and to share success stories from Pradhan Mantri Jan Dhan Yojana, the world’s largest financial inclusion program.