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> Most money transfers are usually commerce related, rather than linked to your social network. UPI can be used for everything. Business and friends. And whats

by ffpip 6y ago

> Most money transfers are usually commerce related, rather than linked to your social network. UPI can be used for everything. Business and friends. And whatsapp wants to pair this with WA business (which itself is growing at an alarming rate. I am getting OTP's from businesses on WA) If you are already using WA for sending money, why won't you use it for payments? The steps are the same. The interface is the same. People will always use an app their friends are using. Probably the main reason why Facebook hasn't died. Network effect.

kumarvvr 6y ago
Network effect is true for walled gardens. In this case, the UPI system is like a utility. Available to all, robust and incredibly low barriers of entry.
- ffpip 6y ago
  Network effect will still take place with these apps. The average Indian does not know UPI is a framework. I have to explain that any UPI app can connect with any other UPI almost weekly. My father still thinks that Google Pay can only send money to a QR code with the Google Pay logo on it.
  - kumarvvr 6y ago
    In my interactions, even vegetable vendors are, on average, aware that any app will work. For them it is all amalgamated into 'mobile payments'. Most of them have kids who setup the thing and generally, there is high trust in the system, mainly because a transaction is either done or not. There is no done on one end and pending on the other.
    - ffpip 6y ago
      > In my interactions, even vegetable vendors are, on average, aware that any app will work. That's impressive. Every vegetable vendor I meet will ask me to use GPay, because that is what they use.
achow 6y ago
> If you are already using WA for sending money, why won't you use it for payments? Yes, Payments to business that exists within WhatsApp. That would not lead to "30%" marketshare. Case in point - Amazon Pay in India is lagging way behind (~5% marketshare) inspite it having billions and exclusive play within largest ecommerce property in India.

by ffpip 6y ago

kumarvvr 6y ago

Network effect is true for walled gardens. In this case, the UPI system is like a utility. Available to all, robust and incredibly low barriers of entry.

ffpip 6y ago
Network effect will still take place with these apps. The average Indian does not know UPI is a framework. I have to explain that any UPI app can connect with any other UPI almost weekly. My father still thinks that Google Pay can only send money to a QR code with the Google Pay logo on it.
- kumarvvr 6y ago
  In my interactions, even vegetable vendors are, on average, aware that any app will work. For them it is all amalgamated into 'mobile payments'. Most of them have kids who setup the thing and generally, there is high trust in the system, mainly because a transaction is either done or not. There is no done on one end and pending on the other.
  - ffpip 6y ago
    > In my interactions, even vegetable vendors are, on average, aware that any app will work. That's impressive. Every vegetable vendor I meet will ask me to use GPay, because that is what they use.

achow 6y ago

> If you are already using WA for sending money, why won't you use it for payments? Yes, Payments to business that exists within WhatsApp. That would not lead to "30%" marketshare. Case in point - Amazon Pay in India is lagging way behind (~5% marketshare) inspite it having billions and exclusive play within largest ecommerce property in India.