A deep dive into the costs and conflicts of India’s favourite digital payments system.
The Unified Payments Interface, or UPI, has been a runaway success. What started as a small experiment by the National Payments Corporation of India has in four years become the most used digital payments system by volume of transactions.
At a time when NPCI is preparing to take its immensely popular payments product global, banks and fintech companies have been grousing about how it’s impossible to make UPI as a payment mode sustainable. Starting January this year, they were no longer allowed to charge merchants a fee on payments received, by government order. Banks have also been expected not to …
Arti is a former writer at The Morning Context. She previously worked with publications such as ET Prime, VCCircle, Firstpost and EETimes. Arti has keenly tracked the evolution of financial technology in India and written some of the defining pieces on the ecosystem as it birthed and matured. Even when not writing about it, she loves to dissect the revenue models, margins and regulations that are shaping the sector.
artisingh@mailtmc.com