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India Launches Unified Payment Interface API

102 points by subinsebastien 11y ago

brudgers 11y ago
About NCPI: https://en.wikipedia.org/wiki/National_Payments_Corporation_of_India https://en.wikipedia.org/wiki/National_Payments_Corporation_...
NKCSS 11y ago
This is so 90's :) http://www.npci.org.in/images/newnpci.gif http://www.npci.org.in/images/newnpci.gif
- lixon 11y ago
  ROFL
- witty_username 11y ago
  Many (if not most) government websites have "NEW!!" flashing GIFs all over the place.
- distances 11y ago
  There are a lot of retro gems there, including "Site Best Viewed in 1366 x 768 Resolution".
- elcapitan 11y ago
  I had quite a bit of travel/business contact with Indian websites and saw a lot like that, seems to be the standard.
- oolongCat 11y ago
  I think the best bit is, Site Best Viewed in 1366 x 768 Resolution
debarshri 11y ago
It would be really cool, if somebody comes up with a tutorial.
AYBABTME 11y ago
This is more like "a company in India launches", not "India itself launches".
- subinsebastien 11y ago
  Either way, this venture has high significance, because, the RBI imposed restrictions were severely hampering the usability of online payments, for both the consumers as well as sellers in India.
- pjc50 11y ago
  "Bank consortium in India", including the Indian central bank and nationalised clearing bank. So very definitely a public-private joint venture.
homero 11y ago
Lol no one's getting access
virtuabhi 11y ago
Quick introduction to Unified Payment Interface: https://www.facebook.com/cnbctv18india/videos/1024497864254278 https://www.facebook.com/cnbctv18india/videos/10244978642542...
achow 11y ago
A good overview of how it would work: http://yourstory.com/2016/02/mobile-wallets-upi/ http://yourstory.com/2016/02/mobile-wallets-upi/ I'm very curious as how it would now play out for 'digital wallets' like Paytm, MobiKwick, PayUMoney etc. Paytm is a "Unicorn". It is perhaps valued at $2B with 125 Million users. http://www.business-standard.com/article/companies/paytm-valuation-jumps-to-1-5-billion-115011600025_1.html http://www.business-standard.com/article/companies/paytm-val...
- option_greek 11y ago
  How do these guys make money (or plan to) ? I know PayTM is trying to be a market place but I'm wondering if there are other ways they make money.
  - achow 11y ago
    One straight forward (and older) way is to charge commission from the retailers. The digital wallets in India started with recharging balance for prepaid mobiles. When somebody recharges, Paytm and its ilk charges commission in the range of 2-5% from the Telcos.
captn3m0 11y ago
We (Razorpay) recently did a webinar[0] on UPI, along with a corresponding blog post[1]. We also have an FAQ[1] up on the same. A lot depends on how many customers adopt UPI and how well the banks implement it. If they respect what all NPCI has said, UPI could change a lot of things (affect wallets, improve transparency, cashless economy etc). However, a lot is hanging on few points: 1. How well do banks implement UPI? 2. Does NPCI open up UPI to more players? If yes, when and who? Wallets are the one that are most interested in this. [3] 3. Do they improve on UPI over time? As of now, UPI is missing a lot of its (promised) teeth. For eg: recurring payments, pre-authorized payments, split payments. If anyone is interested on knowing more, I could probably answer a few questions here :) [0]: https://youtu.be/0Yyxor0VYsE https://youtu.be/0Yyxor0VYsE [1]: https://razorpay.com/blog/what-is-upi/ https://razorpay.com/blog/what-is-upi/ [2]: https://razorpay.com/upi/ https://razorpay.com/upi/ [3]: http://www.livemint.com/Companies/ZSGu2hTgSn21bKzvY8hycI/Paytm-strengthens-top-management-for-payments-bank.html http://www.livemint.com/Companies/ZSGu2hTgSn21bKzvY8hycI/Pay...

102 points by subinsebastien 11y ago

About NCPI: https://en.wikipedia.org/wiki/National_Payments_Corporation_of_India https://en.wikipedia.org/wiki/National_Payments_Corporation_...

NKCSS 11y ago

This is so 90's :) http://www.npci.org.in/images/newnpci.gif http://www.npci.org.in/images/newnpci.gif

lixon 11y ago
ROFL
witty_username 11y ago
Many (if not most) government websites have "NEW!!" flashing GIFs all over the place.
distances 11y ago
There are a lot of retro gems there, including "Site Best Viewed in 1366 x 768 Resolution".
elcapitan 11y ago
I had quite a bit of travel/business contact with Indian websites and saw a lot like that, seems to be the standard.
oolongCat 11y ago
I think the best bit is, Site Best Viewed in 1366 x 768 Resolution

debarshri 11y ago

It would be really cool, if somebody comes up with a tutorial.

AYBABTME 11y ago

This is more like "a company in India launches", not "India itself launches".

subinsebastien 11y ago
Either way, this venture has high significance, because, the RBI imposed restrictions were severely hampering the usability of online payments, for both the consumers as well as sellers in India.
pjc50 11y ago
"Bank consortium in India", including the Indian central bank and nationalised clearing bank. So very definitely a public-private joint venture.

homero 11y ago

Lol no one's getting access

virtuabhi 11y ago

Quick introduction to Unified Payment Interface: https://www.facebook.com/cnbctv18india/videos/1024497864254278 https://www.facebook.com/cnbctv18india/videos/10244978642542...

achow 11y ago

A good overview of how it would work: http://yourstory.com/2016/02/mobile-wallets-upi/ http://yourstory.com/2016/02/mobile-wallets-upi/ I'm very curious as how it would now play out for 'digital wallets' like Paytm, MobiKwick, PayUMoney etc. Paytm is a "Unicorn". It is perhaps valued at $2B with 125 Million users. http://www.business-standard.com/article/companies/paytm-valuation-jumps-to-1-5-billion-115011600025_1.html http://www.business-standard.com/article/companies/paytm-val...

option_greek 11y ago
How do these guys make money (or plan to) ? I know PayTM is trying to be a market place but I'm wondering if there are other ways they make money.
- achow 11y ago
  One straight forward (and older) way is to charge commission from the retailers. The digital wallets in India started with recharging balance for prepaid mobiles. When somebody recharges, Paytm and its ilk charges commission in the range of 2-5% from the Telcos.

captn3m0 11y ago

We (Razorpay) recently did a webinar[0] on UPI, along with a corresponding blog post[1]. We also have an FAQ[1] up on the same. A lot depends on how many customers adopt UPI and how well the banks implement it. If they respect what all NPCI has said, UPI could change a lot of things (affect wallets, improve transparency, cashless economy etc). However, a lot is hanging on few points: 1. How well do banks implement UPI? 2. Does NPCI open up UPI to more players? If yes, when and who? Wallets are the one that are most interested in this. [3] 3. Do they improve on UPI over time? As of now, UPI is missing a lot of its (promised) teeth. For eg: recurring payments, pre-authorized payments, split payments. If anyone is interested on knowing more, I could probably answer a few questions here :) [0]: https://youtu.be/0Yyxor0VYsE https://youtu.be/0Yyxor0VYsE [1]: https://razorpay.com/blog/what-is-upi/ https://razorpay.com/blog/what-is-upi/ [2]: https://razorpay.com/upi/ https://razorpay.com/upi/ [3]: http://www.livemint.com/Companies/ZSGu2hTgSn21bKzvY8hycI/Paytm-strengthens-top-management-for-payments-bank.html http://www.livemint.com/Companies/ZSGu2hTgSn21bKzvY8hycI/Pay...