Interoperable payment systems (IPS) are costly interventions, undertaken to improve the payments ecosystem of a country, with the ultimate aim of advancing financial inclusion and achieving overall financial sector policy goals. Given that there are a variety of objectives attached to the implementation of IPS, it is essential to define these objectives at the onset, create consensus with the stakeholders involved, and then actively track whether the payment system is achieving these objectives. A robust results measurement framework can help stakeholders achieve the above. The toolkit is based on Innovations for Poverty Action’s (IPA) learnings from past monitoring and evaluation (M&E) engagements with stakeholders who are directly implementing or supporting the implementations of IPS.