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?

 

[Lobogris]

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

My point was that it is actually not convenient. They are misguided with the fad.

 

[SSV]

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?

This is absolutely correct.. we are here to discuss and discuss from different view points..
You are absolutely right mate

 

[Lobogris]

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

Use option 2 and tap and pay with those 2 cards you are carrying.

 

[vine]

# 39) The whole concept of issuing credit cards and debit cards and maintaining POS machines, is soo 20th century dude . But I think it's Less hassle for banks to maintain the UPI infrastructure.

 

[SSV]

My point was that it is actually not convenient. They are misguided with the fad.

Who misguided whom?
There are no innocents here in India .. no one can mislead anyone for an extended time ..
If people don’t like anything they discard anything like a toilet paper..
People doing these things on their own because they believe it’s a better option for them

 

[Rocky Bhai]

Create poll UPI V CC
Here on forum every 1 uses cc, it will be clear whether cc users are misguided or likes to use UPI.

 

[Tejo]

Use option 2 and tap and pay with those 2 cards you are carrying.

Via rupay credit card upi

We can scan and pay and earn rewards ....


Also scanning bharatQR ... we can pay via visa, mc and rupay cards. .... and earn rewards.

 

[panchabhut]

I make it a point not to directly use my card at any of the large format grocery shops like reliance, spencers, erstwhile big bazaar etc. most of them do not use the standard bank provided POS and rather directly swipe the card in their own billing machine. even when they use standard POS, they still swipe the card in their billing machine for God knows what. who knows what they are going to do with the collected data. its definitely a security risk.
I am more comfortable using UPI at these outlets.
You can call me paranoid, but I am not the only one.

 

[SSV]

I make it a point not to directly use my card at any of the large format grocery shops like reliance, spencers, erst while big bazaar etc. most of them do not use the standard bank provided POS and rather directly swipe the card in their own billing machine. even when they use standard POS, they still swipe the card in their billing machine for God knows what. who knows what they are doing to do with the collected data. its definitely a security risk.
I am more comfortable using UPI at these outlets.
You can call me paranoid, but I am not the only one.

There is nothing wrong with your view.
Market is mix of all these different people..
Market is beautiful…and wonderful…
These are all different dynamics of a Market

 

[simplegarv]

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

This is the reason Samsung Pay is getting so much hype, and I want Apple Pay in India too.

 

[SSV]

My point was that it is actually not convenient. They are misguided with the fad.

Mate , at the end of the day, Market will decide the fate of anything and everything…if something is not worth using it , it will die it’s natural death..

I believe, because you felt a bit of inconvenience you assumed that they were obsessed..
There is nothing great to show off about using UPI..

It’s just how you perceived the fact…
The same fact I perceived like this..
There is nothing wrong or right in this

Ultimately Market decides…the fate

Dinner time !!
bon appétit …

 

[vijay.vj]

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.

Oncourse, it did help...

Else, why do you think so many foreign nations are trying to accommodate UPI into banking system?

"Total UPI transactions accounted for nearly 86 percent of India’s GDP in FY 2022."

If you think, Rich people are responsible to GDB... you are mistaken my friend. GDP is mostly driven by middle and lower class.

 

[panchabhut]

I have also faced twice the situation where the paranoid political rulers clamped down total internet ban in a State. Both time while traveling.
Nothing digital worked. Not even ATM. I could not even get cash over the counter from Branch as even core banking was not working.
That taught me to always keep enough cash. Particularly while traveling out of my city.

 

[Trust Me]

.....
I may think twice to use a debit card even though I was educated,

I never thought of interpreting the "Padha likha unpadh" comment above to mean "Padha likha to unpadh" !

 

[SSV]

That taught me to always keep enough cash. Particularly while traveling out of my city

Remember this:
Cash is King .. always

 

[coolguy1]

My point was that it is actually not convenient. They are misguided with the fad.

Paying with UPI:

Step 1: Scan QR.
Step 2: Enter PIN

Payment done!

Paying with a credit card:

Step 1: Show Amex Card.

saaar, this is not accepted.

Step 2: Bring out your HDFC DCB card.

saaaaar, this is not working in machine.

Step 3: Pull out your low-reward visa credit card to save further embarrassment.

Step 4: Remember to pay the bill by the deadline.

Step 5: Cry about the late fees to PNO because you were late by a day in paying back the bill.

Not everyone wants rewards, not everyone wants to fly business class, some people prefer a normal stress free life and there's nothing wrong with it.
For people like us who would die for rewards, carry 15 credit cards, we're amazing too but not everyone wants to be us and that's okay!

UPI was made to make lives simple, ease the transactions and reduce the usage of cash which has been successful so it's a great innovation!

 

[Akr706]

Are you Visual-Maximum-8117 on reddit?
I honestly think you should remove the second last sentence.

Well that's the reason, I have used UPI mostly in mall parkings so far. Wherever credit cards are accepted, Tap to pay is such a blessing in those cases.

 

[sahildca]

also some poor UPI user use upi to save their card details exposed or Card cloning in like big rich people places BURGER KING

UPI is much safer than physical card(no fear of card clonning, card details exposure ) also no need to cary cards in wallet.

Big debit, credit card cloning fraud nailed! GIP Mall Noida Burger King employee in jail - Here is how you can avoid this

Use your other hand while putting the PIN while transacting at retail shops while making your payment.

www.zeebiz.com

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?

 

[cardio_guy]

I didn't see this post earlier
OK so I see it the other way round - people use cards to earn some penny points and rewards. Whereas UPI is easy, convenient, and simple.
Literate or Illiterate, small amount or big amount, UPI always!
Why carry so many cards in the wallet when you can get everything done with the phone? And you can add multiple bank accounts in Gpay, if SBI doesn't work, try ICICI.
I believe a POS machine also connects to a mobile network to receive payments. So is UPI. No worries of missing the purse or card, our phone will always be with us.

 

[panchabhut]

Are you Visual-Maximum-8117 on reddit?

Well that's the reason, I have used UPI mostly in mall parkings so far. Wherever credit cards are accepted, Tap to pay is such a blessing in those cases.

Mall parking are gradually switching to Fastag based payment. Thats even more convenient.