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India Unable To Impose Caps on Mobile Payments Market Share, Four Years On
Eight years ago, a coalition of retail banks in India built a mobile payments system called the UPI. The system is interoperable, allowing users to make instant peer-to-peer transactions between them -- across all participating banks -- and to merchants at zero cost. Today, it processes more than 12...
Eight years ago, a coalition of retail banks in India built a mobile payments system called the UPI. The system is interoperable, allowing users to make instant peer-to-peer transactions between them -- across all participating banks -- and to merchants at zero cost. TechCrunch adds: However, several UPI providers admit that an incentive plan that unfairly differentiates [one of the proposed solutions by some industry players] against PhonePe and Google Pay will be a bad look for the ecosystem and could send wrong signals to the investor community.
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