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Well that’s the point, UPI is literally interoperable and you can use any app you want and it just works. It’s not Indian’s fault that there is no such standard
by xrisk 3y ago
Well that’s the point, UPI is literally interoperable and you can use any app you want and it just works. It’s not Indian’s fault that there is no such standard worldwide.
- kmlx 3y agothere is already a standard. it's SEPA/SWIFT and works on IBANs independent of any banks. but it's use case is tiny in most of the world. most payments aren't made to people you want to give money to. most payments actually go to sellers. as such what people use in developed countries is their credit card.
- vaccarium 3y agoSwift is slow and expensive as hell, the fees can run into 10s of dollars per transaction. SEPA is limited to the EU, not even the official candidate countries have it.