The success of UPI is what is inspiring the government to explore internationalization of the instant payment system, mainly with the aim of swelling its kitty.
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Vijay Shekhar Sharma has focused on improving compliance, cutting costs and recovering market share after the RBI shut down his payments bank last year. The fintech major is yet to recover to its earlier highs, but its turnaround is gathering momentum.
The messaging giant is a minnow when it comes to payments. Relief from NPCI could be just the fillip it needs to finally take on leaders PhonePe and Google Pay.
With the DPI export, India gets to extend its soft power and create new opportunities for companies. But what if this technology, already marred with safety and privacy issues, falls into the wrong hands?