The Forum of Free Enterprise is a non-political organization founded in 1956 by A. D. Shroff, and has been established to educate public opinion in India on free enterprise and a democratic way of life. The Forum publishes booklets to further its objects. The following booklet is titled “Designing and Development of Payment System in India” was published in September 2017 and was authored by Abhaya Prasad Hota. The booklet is a textual representation of the author’s talk at the thirteenth MR Pai memorial Award function. The author describes five significant stages in the evolution of the payments system in India. These are: a) Cheque clearing b) Money transfers, RTGS, NEFT, IMPS, UPI, BHIM c) Universalization of card system d) Creation of Aadhar payment platform e) Creation of ECS platform in the late nineties and its improvement after it was taken over by NPCI in 2010. Further, the author assures that the life of bank customers is going to be easy with the large-scale use of Tap & go payments, toll & transit payments, and bringing all the utility billers under Bharat Bill Payment System. The author cautions about the risk of cybercrime and states that the Bank has a major responsibility to build awareness programs on Do’s and Don’ts of Electronic Banking. The text concludes with the author thanking the All India Bank Depositors Association for receiving the 13th M.R Pai memorial award.