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Look at Indian UPI. It doesn't have to be stuck to visa/MasterCard with their monolith fees incurring infrastructure and eesto go along with it. UPI has been
by 2Gkashmiri 5y ago
Look at Indian UPI.
It doesn't have to be stuck to visa/MasterCard with their monolith fees incurring infrastructure and eesto go along with it.
UPI has been a great hit because the govt implemented a "ecosystem". Banks and apps and users are ALL part of the same network, everyone talks to everyone, everything is compatible. There is no moat except for having a bank account and a mobile number.
Coming from 2.5-4% fees for MDR in cards to UPI which is literally free,there is a LOT of savings in general when the daily transactions are in billions.
Those 2.5% fees really add up. And there is no stupid argument of " fraud protection" fees and all. Arent banks already paying that insurance and they have an incentive to reduce leakages by improving the tech.