Indian parliamentary panel demands boost to alternative UPI payment apps

[Abhishek012]

Indian parliamentary panel demands boost to alternative UPI payment apps:

An Indian parliamentary panel has urged the government to support the growth of domestic fintech players that can provide alternatives to the Walmart-backed PhonePe and Google Pay apps that currently command more than 83% of the country’s fast-growing digital payments market.

The 58-page report, which includes a series of recommendations, comes at a time when Paytm, another leading payments firm in the country, is reeling from a clampdown on its payments bank business.

The Reserve Bank of India’s directive last week all but asks Paytm to cease operations of Paytm Payments Bank, which processes most of the transactions for the financial services firm. The disruption at Paytm will likely cause the payment app’s market share in UPI to fall further to rivals PhonePe and Google Pay, industry executives cautioned.

PhonePe commanded 46.91% of the UPI market share by volume during the period of October to November 2023, the parliamentary committee on communications and IT wrote in its report. Google Pay held a market share of 36.39% during the same period, the report said.

The market share by volume of indigenous BHIM UPI was only 0.22%, the report said. PhonePe and Google Pay likely possess a large market share of UPI by transaction value.

The National Payments Corporation of India, a special unit of the Indian central bank RBI, has previously expressed similar concerns about the clear duopoly in the mobile payments market in the South Asian market. It had earlier proposed enforcing a check on the market share for players, ensuring that no single player shall process more than 30% of the UPI transactions in a month.

The NPCI, which oversees UPI payments network, in late 2022 extended the deadline for the new check to end of 2024. Google Pay and PhonePe assumed less than 80% market share at the time when the NPCI originally proposed a check in 2020.

“As India, focusing on ‘Make in India’ in other sectors, the Committee are of the opinion that local entities are to be promoted in the fintech sector,” the report added.

 

[panchabhut]

The main reason for low popularity of BHIM app are,
1. Practically ZERO customer support
2. The arrogance of NPCI in using the main app for testing all forms of new features instead of having a separate testing app like all other IT projects

 

[MrJJ]

Ab Adani ji aayenge maidan mein..

 

[Vasuki]

Ab Adani ji aayenge maidan mein..

Aane do agr cashback lekr aate hai 🥸

 

[paxauquabriba-4876]

looks like Indian parliamentary panel phockars did not get the kickbacks they requested and thats why barking now until these companies throw a few biscuits into their slush funds in swiss bank accounts

focusing on ‘Make in India’ = bool shheet as its just talk the talk when everything in tech is from USA

make in india is just a polittical tool used by phokers in power to exploit world class players and block them so that adani and amabnis can keep selling their shayeet to indian population

 

[panchabhut]

looks like Indian parliamentary panel phockars did not get the kickbacks they requested and thats why barking now until these companies throw a few biscuits into their slush funds in swiss bank accounts

focusing on ‘Make in India’ = bool shheet as its just talk the talk when everything in tech is from USA

make in india is just a polittical tool used by phokers in power to exploit world class players and block them so that adani and amabnis can keep selling their shayeet to indian population

UPI was truly made in India. And India has the prime mover advantage also, as the first one to develop something in these lines. In 2017 the world wanted India to share the technology with them. For some great reason, NPCI refused. Then Brazil went ahead to reinvent the wheel and developed PIX. And they were intelligent enough to share PIX with the world. Now the rest of the world, incl US, are adopting PIX and developing their own payment system and Brazil will be earning money on all the payments made across the world.
NPCI stupidity = Brazil's gain.

 

[akshayhs]

bool shheet

 

[Dinnong]

In our village areas most of the people don't know that this online money transferring system is called UPI, they know it as 'PhonePe'.

 

[panchabhut]

In our village areas most of the people don't know that this online money transferring system is called UPI, they know it as 'PhonePe'.

Again the prime mover advantage - for most common people, its either phonepe or paytm.

 

[Abhishek012]

looks like Indian parliamentary panel phockars did not get the kickbacks they requested and thats why barking now until these companies throw a few biscuits into their slush funds in swiss bank accounts

focusing on ‘Make in India’ = bool shheet as its just talk the talk when everything in tech is from USA

make in india is just a polittical tool used by phokers in power to exploit world class players and block them so that adani and amabnis can keep selling their shayeet to indian population

🤣 🤣 You know what ?

If you are Indian - Adani, Ambani will seem bad people to you

If you are American - Larry page, Sundar pichai, Bill gates, Satya nadella, Elon musk, Tim cook will seem like bad people to you.

I have visited online forums of Vietnam, Indonesia many times.

They talk that Indian politicians are honest, Indians are far ahead in technology. There is no corruption in India and lots of other good things.

Do you agree with them ? ofcourse not.

There is beautiful quotes that "distant drums sound pleasant" or "a man likes someone else's wife more than his own".

20 years tak American news, politicians ki baate suno, American MNC companies k news and expansion suno phir tumhe Indian companies and India heaven and America hell lagne lagega. 🤣🤣

 

[paxauquabriba-4876]

please do not compare these illiterate caunts like ambani & adani with pioneers like Larry page, Bill gates, Elon musk,.

similarly dont compare employee/slayves like Sundar pichai, Satya nadella, Tim cook with owners like ambani & adanis.

now amercians have open market where global palyers can enetre and prove their mettle unlike indian idustrialists whose only competetive advantage is sitting on the godi of govt of india so that global palyers cannot enter and thereby blocking access of indian population to world class products.

 

[paxauquabriba-4876]

UPI was truly made in India. And India has the prime mover advantage also, as the first one to develop something in these lines. In 2017 the world wanted India to share the technology with them. For some great reason, NPCI refused. Then Brazil went ahead to reinvent the wheel and developed PIX. And they were intelligent enough to share PIX with the world. Now the rest of the world, incl US, are adopting PIX and developing their own payment system and Brazil will be earning money on all the payments made across the world.
NPCI stupidity = Brazil's gain.

do your due deligence UPI was just copy paste of china whose foundation was based on japan.

 

[Abhishek012]

please do not compare these illiterate caunts like ambani & adani with pioneers like Larry page, Bill gates, Elon musk,.

similarly dont compare employee/slayves like Sundar pichai, Satya nadella, Tim cook with owners like ambani & adanis.

now amercians have open market where global palyers can enetre and prove their mettle unlike indian idustrialists whose only competetive advantage is sitting on the godi of govt of india so that global palyers cannot enter and thereby blocking access of indian population to world class products.

American hate Bill gates because Bill Gates owns a ton of farmland in the United States, Americans also hate bill gates so much and this is the reason why Microsoft has never been able to achieve so much success like Apple, Amazon, Google etc.

Elon Musk and Mukesh Ambani both are same, Both the genius and have done a lot for their country and humanity. But no, people of both countries hate them.

America is closed economy - America never allowed Japan's JCB Card, china Unionpay card to enter American market, They tieup with Discover card network to accept only In US.

"America has no permanent friends or enemies, only interests." America always blocks all those companies which become a threat to their local companies.

That's why I said spend 20 years, watch American news, American politician's speech and talk to American people and then you will see US and India both are same. Why same ? because both are democracy.

And why im saying 20 years ? because this is human psychology. In 20 years you will start understanding properly what kind of country is America.

 

[SamPtnk]

Elon Musk and Mukesh Ambani both are same, Both the genius and have done a lot for their country and humanity. But no, people of both countries hate them.

Not same Amabai doesn't do public threesome

 

[Tejo]

The main reason for low popularity of BHIM app are,
1. Practically ZERO customer support
2. The arrogance of NPCI in using the main app for testing all forms of new features instead of having a separate testing app like all other IT projects

+ it's No.1 in lag compared with other third party apps.

Several people still don't know that Bhim is npci app

 

[techt]

🤣 🤣 You know what ?

If you are Indian - Adani, Ambani will seem bad people to you

If you are American - Larry page, Sundar pichai, Bill gates, Satya nadella, Elon musk, Tim cook will seem like bad people to you.

I have visited online forums of Vietnam, Indonesia many times.

They talk that Indian politicians are honest, Indians are far ahead in technology. There is no corruption in India and lots of other good things.

Do you agree with them ? ofcourse not.

There is beautiful quotes that "distant drums sound pleasant" or "a man likes someone else's wife more than his own".

20 years tak American news, politicians ki baate suno, American MNC companies k news and expansion suno phir tumhe Indian companies and India heaven and America hell lagne lagega. 🤣🤣

This is exactly the Macaulay syndrome as explained in the Vaccine War movie.
The irony of the ironies is, ppl abusing Ambani are using his jio networks.

 

[Tejo]

"America has no permanent friends or enemies, only interests."

America's friends are The Rich Countries but the people has zero knowledge in various aspects.

America's enemies are the countries which are developing in various aspects than them.

 

[Tejo]

Indians are far ahead in technology

But that technology limited.......... I.e can't accessible to at least 25% of the Indians (😅 exception: upi)

. There is no corruption in India and lots of other good things.

🤣 Ask him/her to spend few days in india as Indian.

@Abhishek012 May I have that Vietnam and Indonesia forum links ? 😂

 

[Deleted member 9785]

Aane do agr cashback lekr aate hai 🥸

wo deta nai bas leta hai

 

[MrJJ]