Saturday , November 2 2024
Home / Dirk Niepelt / India’s Unified Payments Interface

India’s Unified Payments Interface

Summary:
In the FT, Benjamin Parkin reports about the transformation of India’s payments landscape. Behind the boom is an innovation launched by the Indian government in 2016: the unglamorous sounding Unified Payments Interface, or UPI, which allows immediate mobile payments directly between bank accounts. Conceived as a public utility, the service is transforming India’s cash-dependent economy into fertile soil for mobile-money apps. … Both the volume and value of transactions had more than doubled in a year.

Topics:
Dirk Niepelt considers the following as important: , , , , ,

This could be interesting, too:

Marc Chandler writes Continued Backing Up of US Rates Extend the Greenback’s Gains

Dirk Niepelt writes “Governments are bigger than ever. They are also more useless”

Dirk Niepelt writes The New Keynesian Model and Reality

Dirk Niepelt writes Urban Roadway in America: Land Value

In the FT, Benjamin Parkin reports about the transformation of India’s payments landscape.

Behind the boom is an innovation launched by the Indian government in 2016: the unglamorous sounding Unified Payments Interface, or UPI, which allows immediate mobile payments directly between bank accounts.

Conceived as a public utility, the service is transforming India’s cash-dependent economy into fertile soil for mobile-money apps. … Both the volume and value of transactions had more than doubled in a year.

Dirk Niepelt
Dirk Niepelt is Director of the Study Center Gerzensee and Professor at the University of Bern. A research fellow at the Centre for Economic Policy Research (CEPR, London), CESifo (Munich) research network member and member of the macroeconomic committee of the Verein für Socialpolitik, he served on the board of the Swiss Society of Economics and Statistics and was an invited professor at the University of Lausanne as well as a visiting professor at the Institute for International Economic Studies (IIES) at Stockholm University.

Leave a Reply

Your email address will not be published. Required fields are marked *