UPI is also a centralized payment system bro.. Transactions are settled by NPCI between the banks.
Only crypto is decentralized.
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Only crypto is decentralized.
Tum to bhai sab kuch ghusa diye isme.. geopolitics power tower..
In business only Transparency, Trust, Ease and Profitability matters. Rests are secondary..
Abhishek012
TF Pioneer
UPI is decentralized.
Brazil's Pix user data is maintained in a centralized directory at the central bank of Brazil, as compared to the decentralized model of UPI’s domain-based addressing, in which data linking a person’s alias to their account is stored in their provider’s database. There are trade-offs with either option. Centralized models mean that more data is shared with the payment system for address resolution and routing. Decentralized models require some way for the sender to identify both the receiver’s account and financial institution, potentially limiting the options available to identify a customer.
silly_putty
TF Premier
pehele rupay cards pe recurring transactions aur nfc via wallet allow karo🥲. yaha har mahina gift cards kharidna pad raha hai.
Ha ha ha
This is not only business, it will make other country dependent.
Look at Dollar and swift code system.
Abhishek012
TF Pioneer
Yes. Visa, Mastercard and Swift backend by US govt.
India approached a completely different business model.
NPCI give license to other countries central bank or central bank-authorised entities to replicate UPI or RuPay card on their countries.
For example - "UPI NEPAL" is owned by Payment Nepal (Gateway Payment Service Pvt. Ltd, a Payment System Operator licensed by Nepal Rastra Bank/Nepal central bank) not NPCI International.
And "UPI France" is owned by France's Lyra Network.
Now if "UPI NEPAL" wants to accept "UPI NEPAL" in France then UPI NEPAL's owner "Payment Nepal" will sign an MOU with France's Lyra Network to accept "UPI Nepal" in France and they will do cross-border payment between Nepal and France via UPI.
Ofcourse NPCI International will help them on lots of thing.
NPCI has patent on UPI and RuPay card but Indian Govt is selling it as open source.
Get license and all technical support from NPCI and use as per your country's requirement.
Every Nepali should proudly say "UPI Nepal" is ours (ours mean owned by Nepal here).
What do we get from this ?
We will expand our Indian technology across the world. Other countries will trust us, we can't sanction other countries (i mean we couldn't even if we wanted to). Other countries will feel more safe in trusting India.
And finally one day my personal dream will come true -
What's my dream ?
My dream is that suppose a person name Charles (France national) will born in 2030 in Paris and from teenage he start using "UPI France" from various UPI apps - GooglePay France UPI app, Phonepe france UPI app (Phonepe also has plan to expand in International market) etc and one day he will marry a girl named Margot and they go to london for honeymoon and they use France's UPI International payment linked with "UPI United Kingdom" in london using his GooglePay France UPI app. Interesting fact will be, He will never come to India in his lifetime but he will use the Indian technology "UPI" in France and other countries in all his life.
Americans once upon a time had such a dream, one day whole world will use American tech and we know where we are today. More than 99% Indians never visited US but Indians proudly use American Visa and mastercard.
Always remember - "Shoot for the moon. Even if you miss, you'll land among the stars."
@DevD
Ek batao mujhe bahut din se puchna tha yeh tum khud likhte ho yeh kahin se copy paste Kiya hai yeh kisiko hire Kiya hai thoda batao apna Raaz 🤣
I Completely agree with you and in long Run Geopolitics, things start like this. And it should be.
Because on paper, you have to show every thing is good and in the benefit of the other country and there is a benefit of other country, but in long run it will help India not only like (they are using our technology), that’s the byproduct.
We will be able to influence that country, we will have more control on that country and we can create international pressure on any other country and surpass international pressure as well. And many more.
similarly USA promote back in past petrodollar and that time, People used to think about it wow it great thing.
Look at USA on paper they say and promote Democracy, in reality they support dictators in many countries.
And I really appreciate your technical knowledge.
