Weird Indian obsession with UPI

[Lobogris]

I can never understand why Indians are so obsessed with UPI. It's ok for small payments like Rs20 at a small vendor who doesn't accept cards. At larger shops, where you can simply tap your credit or debit card in a second, I see educated, well off looking people fumble with UPI apps, entering the amount, then their pin and often the scan doesn't work or the payment doesn't go through because of cellular network inside the store and so on. So much time wasted along with the hassle. Yesterday, I was behind a lady at Haldirams and she tried to scan 10 times and the cashier had to reset the scan screen multiple times. UPI is great when the user is poor or uneducated and doesn't have a credit card or when the establishment doesn't accept them. Why are educated people with credit cards so enamoured of it? Isn't it better to just tap your credit card and get 1 to 3% cashback or points and skip the hassle?

 

[Tejo]

My two cents -
1st if poor and uneducated then they will not use UPI as well.
2nd Many educated too do not prefer having CC in now when it's commo in India and banks are also promoting it.
3rd what if that person might be using Rupay Scan & Score offer

Yar just leave, It has been fashion to foreigners to call us .. uneducated and poor

 

[Rocky Bhai]

Sir, please don't misunderstand what I said. I know you are probably joking. I didn't say everyone using UPI is poor and uneducated. I said that if people who don't have credit cards which is mainly the lower income group, use UPI then it makes sense. My question was why people who are middle and upper middle class and thus likely have credit and debit cards, use UPI instead at large establishments? It wasn't meant as an insult to those using it. I use it myself to pay some small vendor or to pay for parking if they don't have change and to send small payments to people. However if I buy something at Starbucks, Haldirams, McDonalds, Croma etc, I prefer paying by tapping my card. I get some cashback and why should I worry about the 2% charge they have to pay when they are charging such high prices?

Well you are right, my answer written is just a joke.
While using technology neither wealth nor poverty can be seen. UPI is easy and convenient compared to CC, that is why UPI is used by everyone.

 

[Sahilhenzy]

This is called Padha likha unpadh

 

[Lobogris]

Well you are right, my answer written is just a joke.
While using technology neither wealth nor poverty can be seen. UPI is easy and convenient compared to CC, that is why UPI is used by everyone.

Isn't tapping a card much easier and more convenient? Getting a card and maintaining it is hard. That's why the question was about people who already have cards.

 

[vine]

# 71) The success rate of UPI is absolutely astronomical. Personally using UPI since 2018, I think. It had failed maybe twice a year, for me in these years. Never had a problem with funds getting refunded when using UPI. But when using debit cards and credit cards I had to follow up with banks and there is the barrier of POS and it's charges. I lost a small amount once too, when I used debit card from Stupid Chapri bank.
I may think twice to use a debit card even though I was educated, but never thought twice when using UPI because I know how/what fails and who to approach and the banks too understand how to troubleshoot the problem. NPCI/govt support helps a lot too.

Edit1: I had used the Visa Infinite debit card frm Stupid Chapri bank.

 

[Rocky Bhai]

Isn't tapping a card much easier and more convenient? Getting a card and maintaining it is hard. That's why the question was about people who already have cards.

Answer is pretty simple.
Obviously UPI is more convenient for mass people in BHARAT that's why people are obsessed for UPI instead of cc.

 

[Lobogris]

Guess we love the joy of traveling without a wallet.
Last Sunday I took my wife to the mall. Had fine dining and paid via Swiggy app using my HDFC Card. Bought a few groceries and paid via UPI again using my Rupay credit card, then paid parking via fastag and came back. All without carrying my wallet with me.

I did the same yesterday. Had lunch and dinner at fine dining restaurants and paid via Swiggy for 30% discount but used SBI Cashback and Axis Airtel once each. However, when buying groceries at Reliance, Le Marche or Modern Bazaar, I would definitely tap my credit card rather than hassle with UPI. Similarly, if I had to pay at a restaurant and they didn't accept Swiggy or Zomato or there was no offer, I would tap my card or pay cash. UPI would be the less preferred option.

 

[SSV]

I don't think UPI has led to any specific increase in GDP. Someone buying a car, TV, washing machine etc bought it earlier as well and would have purchased it even if there was no UPI. People in villages making small payments anyhow worked in a cash based economy and managed fine. In any case, I am not against UPI. It's great for sending small payments to people, for paying at small shops and for those who don't have cards. My question was why do middle and upper class people who have cards prefer to use it instead of tapping their cards at large shops and restaurants. This obsession could even lead to more merchants stopping to accept credit cards.
Increase in velocity of circulation would definitely lead to an increase in liquidity or money supply and thus improve the economy but I don't think the impact is very significant.

A few talking about what I mentioned in my first post..
I will come back to your actual point..
Meanwhile some pop corn read about stupendous success the world envy of India

UPI and its Macroeconomic Impact on the Indian Economy

us instantly. More than ever, the internet has improved the accessibility of our life. Digital payments have become increasingly important, from online restaurant ordering to one-click bill payments.

www.abacademies.org

UPI: India’s story of a financial revolution

United Payment Interface (UPI), a term unheard or unbelieved until April 2016, but in Modern India, UPI is the flag-bearer of the ongoing Financial Revolution. Who would have ever imagined a robust cash-based economy like...

timesofindia.indiatimes.com

UPI goes global: The past, present & future of India's payments platform

If there is one Indian innovation that has grabbed global headlines, it is undoubtedly the UPI or Unified Payments Interface payments system. UPI's place of pride in India's growth story could be easily gauged by Prime Minister Narendra Modi's statement at the recently-concluded BRICS meeting...

www.wionews.com

The Rise of UPI: Transforming the way Indians transact

The Unified Payments Interface (UPI) has revolutionised how Indians transact, paving the way for a cashless economy. UPI, a ground-breaking payment system, has propelled the nation into a future powered by seamless digital payments. Launched...

timesofindia.indiatimes.com

 

[Lobogris]

Answer is pretty simple.
Obviously UPI is more convenient for mass people in BHARAT that's why people are obsessed for UPI instead of cc.

Sir, the question wasn't about the masses. My question was why middle class and upper classes who have multiple cards prefer it.

 

[SSV]

Sir, the question wasn't about the masses. My question was why middle class and upper classes who have multiple cards prefer it.

Sir,
The question is why shouldn’t they??

 

[Trust Me]

.... small villages people do use UPI,

Small villages? I live in a small town (Tier 2? Tier 3?). My everyday shopping is done in typical small-to-medium shops who don't take cards, but do often have QR codes on display. I rarely (maybe 1- 2% of the time) go to larger offline shops who accept cards. All my occasional larger shopping is done online where I do use my cards (UPI too, depending on offers). I find UPI to be a boon for everyday offline shopping.

 

[panchabhut]

I did the same yesterday. Had lunch and dinner at fine dining restaurants and paid via Swiggy for 30% discount but used SBI Cashback and Axis Airtel once each. However, when buying groceries at Reliance, Le Marche or Modern Bazaar, I would definitely tap my credit card rather than hassle with UPI. Similarly, if I had to pay at a restaurant and they didn't accept Swiggy or Zomato or there was no offer, I would tap my card or pay cash. UPI would be the less preferred option.

Option 1 - carry 10 credit cards and 5 debit cards and lots of cash in a fat wallet in your pocket and get weird looks from people
Option 2 - carry just 1 CC and 1 DC in your pocket with may be a couple of 200 notes and put the rest in your mobile linked to UPI in different apps
~~ the choice is not difficult to make

UPI is definitely more suitable for the middle class than the poorer people

 

[SSV]

Sir, the question wasn't about the masses. My question was why middle class and upper classes who have multiple cards prefer it.

I am not sure why you felt like they were obsessed about UPI.. they are just carrying out their daily routine of paying for their shopping which is convenient for them…
You know why they are doing, because Mobile has become an integral part of human life now..
Without mass adoption of mobile’s this wouldn’t have happened..

How many people are glued to their mobiles using WhatsApp, twitter, , Insta etc….
UPI just became one of those..
It’s not a technology , it’s like a commodity now

 

[Lobogris]

A few talking about what I mentioned in my first post..
I will come back to your actual point..
Meanwhile some pop corn read about stupendous success the world envy of India

UPI and its Macroeconomic Impact on the Indian Economy

us instantly. More than ever, the internet has improved the accessibility of our life. Digital payments have become increasingly important, from online restaurant ordering to one-click bill payments.

www.abacademies.org

UPI: India’s story of a financial revolution

United Payment Interface (UPI), a term unheard or unbelieved until April 2016, but in Modern India, UPI is the flag-bearer of the ongoing Financial Revolution. Who would have ever imagined a robust cash-based economy like...

timesofindia.indiatimes.com

UPI goes global: The past, present & future of India's payments platform

If there is one Indian innovation that has grabbed global headlines, it is undoubtedly the UPI or Unified Payments Interface payments system. UPI's place of pride in India's growth story could be easily gauged by Prime Minister Narendra Modi's statement at the recently-concluded BRICS meeting...

www.wionews.com

The Rise of UPI: Transforming the way Indians transact

The Unified Payments Interface (UPI) has revolutionised how Indians transact, paving the way for a cashless economy. UPI, a ground-breaking payment system, has propelled the nation into a future powered by seamless digital payments. Launched...

timesofindia.indiatimes.com

Again, I am not arguing against UPI. My question is specifically about a well-off person, having multiple credit cards that offer rewards paying 500 to 2k at Starbucks, Croma, Haldirams etc and paying via UPI instead of simply tapping their card and getting rewards. Like I said, I can understand people who don't have cards using it. It is a great product for them. I can't understand people who have cards preferring it.

 

[Tejo]

I can never understand why Indians are so obsessed with UPI. It's ok for small payments like Rs20 at a small vendor who doesn't accept cards. At larger shops, where you can simply tap your credit or debit card in a second, I see educated, well off looking people fumble with UPI apps, entering the amount, then their pin and often the scan doesn't work or the payment doesn't go through because of cellular network inside the store and so on. So much time wasted along with the hassle. Yesterday, I was behind a lady at Haldirams and she tried to scan 10 times and the cashier had to reset the scan screen multiple times. UPI is great when the user is poor or uneducated and doesn't have a credit card or when the establishment doesn't accept them. Why are educated people with credit cards so enamoured of it? Isn't it better to just tap your credit card and get 1 to 3% cashback or points and skip the hassle?

We don't want to pay foreign companies directly or indirectly.

Even rupay cards are dependant on Discover and jcb network.

We aim to promote upi ..... internationally, if we still use cards how can we promote our home product ??

Don't behave like Chinese.... here and there commenting .....

 

[Lobogris]

I am not sure why you felt like they were obsessed about UPI.. they are just carrying out their daily routine of paying for their shopping which is convenient to them

Obsessed as I see almost everyone using UPI now instead of credit cards.

 

[iNokia]

Weird post. Why do people live and not just kill themselves when not living and not going through the hardships of life is just better?

Live and let live bruh.

 

[Lobogris]

We don't want to pay foreign companies directly or indirectly.

Even rupay cards are dependant on Discover and jcb network.

We aim to upi international, if we still use cards how can we promote our home product ??

Don't behave like Chinese.... here and there commenting .....

I doubt that is the reason. Then why not use Rupay cards? Why shop at foreign stores and restaurants like McDonalds, Starbucks etc? Why buy foreign products like an iPad or iPhone or a Samsung TV? You can't think like that in a global economy. Otherwise by that logic, why should other countries import from India? Why should India be able to export software?

 

[SSV]

Obsessed as I see almost everyone using UPI now instead of credit cards.

Okay, let’s come to your point of view only..
They are obsessed because it’s super convenient for them…

 

[Lobogris]

Weird post. Why do people live and not just kill themselves when not living and not going through the hardships of life is just better?

Live and let live bruh.

How am I stopping anyone from living or even from using UPI? It was a simple question. Isn't the purpose of this forum to discuss things?