Can India’s UPI Payment Model be Replicated in US and Europe? Tech Diplomacy Could Make it Happen
3 years, 6 months ago

Can India’s UPI Payment Model be Replicated in US and Europe? Tech Diplomacy Could Make it Happen

News 18  

Bitcoin’s price tumbled last month following the news that regulators in China would ban domestic banks from dealing in cryptocurrencies. In response, China, India along with several countries’ central banks have floated ideas for a Central Bank Digital Currency, a digital representation of a nation’s currency backed by blockchain technology. Indeed, seeing the success of Google Pay in India using the UPI architecture, the company wrote to the United States Federal Reserve supporting a similar interbank real-time payments architecture called FedNow in the country. This was done in India to bring more competitiveness in India’s bank payments landscape where customers could pick bank applications with better user experience to access funds from their account. For example, though Jack Ma’s Ant Financial’s fortunes have taken a huge setback following Chinese regulators’ crackdown on his internet conglomerate, the idea of using QR codes for payments has been co-opted by the UPI in India.

History of this topic

NPCI's International Arm Plans To Expand UPI To 4-6 New Countries In 2025
6 days, 4 hours ago
UPI achieves record 15,000 crore transactions worth ₹223 Lakh Crore by Nov 2024
1 week, 2 days ago
India’s digital payments to grow threefold from 159 bn to 481 bn by FY29: PwC re
3 months, 2 weeks ago
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4 months, 2 weeks ago
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6 months, 1 week ago
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6 months, 3 weeks ago
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7 months, 3 weeks ago
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7 months, 4 weeks ago
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8 months, 1 week ago
Paytm gets third-party app license from NPCI to perform UPI transactions
9 months, 1 week ago
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9 months, 1 week ago
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10 months, 1 week ago
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1 year, 2 months ago
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1 year, 2 months ago
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1 year, 2 months ago
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1 year, 3 months ago
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1 year, 3 months ago
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1 year, 3 months ago
India ranks first in digital payments made globally: Report
1 year, 4 months ago
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1 year, 5 months ago
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1 year, 6 months ago
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1 year, 6 months ago
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1 year, 7 months ago
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1 year, 7 months ago
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1 year, 9 months ago
DC Edit | UPI may be a game-changer
1 year, 10 months ago
UPI payment available for international travellers visiting Delhi, Mumbai, Bengaluru airports – Details
1 year, 10 months ago
Inbound Travellers From G20 Countries Can Avail UPI Facility At Three Airports, Says RBI
1 year, 10 months ago
RBI allows UPI-based transactions for inbound travellers to India
1 year, 10 months ago
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1 year, 10 months ago
Digital transactions to soon exceed cash in India: PM Modi
1 year, 10 months ago
India, Singapore launch linkage of real-time payment systems
1 year, 10 months ago
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1 year, 10 months ago
Explained | India’s UPI push
1 year, 10 months ago
India records more digital payments than US, UK, Germany & France: Vaishnaw
1 year, 11 months ago
NRIs from 10 countries can use UPI with their international mobile numbers
1 year, 11 months ago
RBI’s digital rupee useful in overseas payments: IMF
1 year, 11 months ago
Time is right for a digital rupee
2 years ago
RBI Mulls Addressing Monopoly of PhonePe, Google Pay in UPI Space; Deputy Guv Explains
2 years, 3 months ago
UPI expands further globally; Indian travellers to U.K. to enjoy hassle-free digital transactions
2 years, 4 months ago
UPI will Act as Delhi’s Digital Bridge to Drive Rupee Across Global Payment Corridors
2 years, 4 months ago
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2 years, 5 months ago
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2 years, 6 months ago
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2 years, 6 months ago
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2 years, 6 months ago
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2 years, 10 months ago
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2 years, 10 months ago
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2 years, 11 months ago
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2 years, 11 months ago

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