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India has UPI and Rupay which is getting adopted by other SEA countries. Nepal is as another addition.
by abhishekjha 5y ago
India has UPI and Rupay which is getting adopted by other SEA countries. Nepal is as another addition.
- actuator 5y agoI might be wrong but both of them aren't an equivalent to Swift. Rupay seems to be a card network like Visa and UPI builts on top of IMPS which might be considered an alternative, however IMPS is limited to financial institutions of one country and one currency. https://www.npci.org.in/what-we-do/imps/product-overview https://www.npci.org.in/what-we-do/imps/product-overview
- deleted 5y ago[deleted]
- H8crilA 5y agoMost, or even all, countries / currency zones have an in-house payments system. Euros are settled via SEPA, for example. SWIFT is mostly about international settlement.