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    What are your thoughts on the Unified Payments Interface (UPI)?

    Jitesh Ghanchi â­•
    2 replies
    The Unified Payments Interface (UPI) has revolutionized the way we conduct financial transactions in India. Launched in 2016, UPI is a real-time payment system with ZERO Fees that enables users to transfer money instantly between bank accounts through mobile devices. With its seamless integration across multiple banks and payment platforms, UPI has gained immense popularity and transformed the digital payment landscape in the country. The world is eagerly awaiting the moment when UPI extends its reach beyond India's borders, reshaping the future of digital payments on a global scale.

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    Dexter Awoyemi
    Nack AI
    Nack AI
    I like UPI in principle. They largely preceded open banking by two years and have a more standardised architecture. But the fact that it's highly verbose and XML makes it technically harder to interoperate with other payment interfaces. There's a lot of work for it to go from unified to universal.
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    Oswald Soto
    Totally agree, UPI has been a breakthrough in India, it's gonna be thrilling to see how it could turn the tables for digital payments worldwide!
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