A COMPARATIVE ANALYSIS OF PSP FRAMEWORKS AND ECOSYSTEM CHALLENGES IN INDIA AND UZBEKISTAN

Payment Services Providers (PSPs) have become indispensable to digital financial ecosystems, enabling secure, interoperable, and realtime transactions across domestic and international markets. India and Uzbekistan, two rapidly digitizing economies have witnessed significant expansion in digital payments driven by regulatory modernization, fintech innovation, and consumer adoption. However, PSPs in both jurisdictions face complex challenges relating to regulatory compliance, cybersecurity, digital forensics, operational risks, and crossborder governance. This article provides a doctrinal and comparative analysis of PSP frameworks in India and Uzbekistan, examining statutory regimes, cybercrime vulnerabilities, forensic constraints, and systemic barriers. It concludes with policy recommendations aimed at strengthening PSP resilience, regulatory clarity, and cyberforensic readiness.