UPI is just fast ACH. It’s still built on top of IMPS, which is regulated by RBI. India’s version of US Treasury. A more mobile and grass roots version of Plaid

UPI is just fast ACH. It’s still built on top of IMPS, which is regulated by RBI. India’s version of US Treasury. A more mobile and grass roots version of Plaid. All it takes is for RBI to say “This kind of content isn’t allowed” and you’d have the same effect. Here in the US, we didn’t build an IMPS like system until way too late in the game.