Let’s use this new thread to share and discuss news on fintech, payments, banking etc. What say, Jupiter community? :eyes: [Banner]

Sani, as per the RBI & finance ministry, UPI is considered to be public welfare initiative and will continue to remain free for users for the foreseeable future.

I didn’t think soo … Banks and financial institutions are not interested about that… Even if they give free many banks and private UPI app can charge you

Can charge and will charge are 2 different scenarios. As of now, the only UPI transactions that attract a fee are the ones made from PPI instruments and that too users are not required to pay for it. [image] Which UPI payments will attract interchange fee? Will you have to bear the cost? …

Yes … it’s have a unique address and number… Pair with some data like banking details like account number, IFSC code and Name of the owner

[UPIWorkingFlowchart] Here is the workflow on UPI works.

PhonePe has launched UPI Lite payments feature. [image] PhonePe launches UPI Lite for smaller payments, two months after Paytm Users can instantly activate the UPI feature on their PhonePe app through a simple process that does not involve any KYC (know your customer) authentication and …

Let’s see, how they catch up with Paytm. They will as their share in retail payments is anyways high.

Kiwi: A revolutionary virtual credit card With Kiwi, you can make credit card payments on UPI for as little as ₹5

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General

yagnesh01 (Yagnesh Kubavat ) 2 May 2023 17:18 288

Here is the workflow on UPI works.

Is UPI & RuPay sustainable?

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