5 ms·
As long as country doesn't mandates using cashless payment modes, launching new payment apps won't help. Country already has too many such apps, with google bri
by abhij89 9y ago
As long as country doesn't mandates using cashless payment modes, launching new payment apps won't help. Country already has too many such apps, with google bringing another it will only eat the competitions share of profit, instead of increasing the demand. Indian people still aren't very comfortable with online payments. They still like to trade in cash.
- eqtn 9y agoCurrently UPI transactions are free (except for a few banks). So many are transferring using this. Once they start charging the user for transaction, this will drop. Even if the charge is .50 paise.
- kamaal 9y agoThe charge has to be 0. For one simple reason most of the everyday buying in India is in the FMCG sector where profits are razor thin. No one will be spending the profit equivalent just for a transaction.