by 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.
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Dirk Niepelt considers the following as important: Cash, Digital money, India, Notes, Payment system, Unified payments interface
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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.