As India’s Quantum push accelerates, payments infrastructure must follow
By Rajsri Rengan, VP and Head – Product Development, Infosys Finacle
Quantum computing has transitioned from laboratory curiosity to a subject of boardroom conversation. India is moving quickly on this incredible opportunity with the National Quantum Mission (NQM, 2023 to 2031), which seeks to build sovereign capabilities in quantum computing, communication, sensing, and materials to position the nation among the world’s top quantum economies by 2035.
The same technology that creates this huge opportunity also threatens the foundations of a highly regulated financial services industry. Quantum computing puts at risk the encryption standards that secure payment transactions today. UPI alone now processes more than 23 billion transactions a month, and that volume, along with card payments and inter-bank messaging, all rides on encryption that today looks unbreakable but won’t stay that way forever.
At some point in the coming decade, a sufficiently powerful quantum computer will be able to break...
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