Upi payment merchant plugin

[rockking1994]

Today morning i came across an article from https://www.moneycontrol.com/news/b...nepe-and-google-pay-worried-11108471.html/amp

It talks about ncpi launch of new plugin for upi payment where in payment companies like razor pay paytm and etc can provide upi payment option such that you never have to leave the app
Currently if you are using an app like swiggy or zomato or flipkart and choose upi for payment options you are redirected to the app of your choice such as gpay phonepe and paytm etc and after payment go back to swiggy and zomato and flipkart
but with this new plugin payment processor like razor pay can make upi payments without ever leaving the app this has an benefit of more reliable payments that is less chance of failure

However I have a few concerns
1) does this not take our choice to choose the payment option such as gpay paytm phonepe
2) what about my rewards for going with a specific payment provider as I don’t ever remember razor pay providing any rewards for any type of payment
3)Does this not remove gpay paytm etc from the competition from online payment as most websites and apps already offer payments options via an payment processing service such as razorpay paytm payu etc

What are everyone thoughts about it am I being to paranoid as nothing of such sort has happed or am I missing something?

 

[sxchzy]

Today morning i came across an article from https://www.moneycontrol.com/news/b...nepe-and-google-pay-worried-11108471.html/amp

It talks about ncpi launch of new plugin for upi payment where in payment companies like razor pay paytm and etc can provide upi payment option such that you never have to leave the app
Currently if you are using an app like swiggy or zomato or flipkart and choose upi for payment options you are redirected to the app of your choice such as gpay phonepe and paytm etc and after payment go back to swiggy and zomato and flipkart
but with this new plugin payment processor like razor pay can make upi payments without ever leaving the app this has an benefit of more reliable payments that is less chance of failure

However I have a few concerns
1) does this not take our choice to choose the payment option such as gpay paytm phonepe
2) what about my rewards for going with a specific payment provider as I don’t ever remember razor pay providing any rewards for any type of payment
3)Does this not remove gpay paytm etc from the competition from online payment as most websites and apps already offer payments options via an payment processing service such as razorpay paytm payu etc

What are everyone thoughts about it am I being to paranoid as nothing of such sort has happed or am I missing something?

1.Npci is wanting to reduce concentration risk in upi by bringing in more players.
2.You still have a choice to do transaction by gpay/phonepe by going to a third party app
3.it is absurd of you to want rewards for doing a transaction where there is no mdr levied which directly funds your rewrad program

 

[rockking1994]

1.Npci is wanting to reduce concentration risk in upi by bringing in more players.
2.You still have a choice to do transaction by gpay/phonepe by going to a third party app
3.it is absurd of you to want rewards for doing a transaction where there is no mdr levied which directly funds your rewrad program

1) But aren’t they just shifting monopoly from one to another
2) Thats a good news
3) if i am sharing my data with them specially financial data i do expect a reward

 

[sxchzy]

1) But aren’t they just shifting monopoly from one to another
2) Thats a good news
3) if i am sharing my data with them specially financial data i do expect a reward

1.No they arent shifting monopoly as at the end of the day customer has the choice to choose.
2.No customer gets a reward for his fin data.If that is the case shift to cash.
Do you ask your broker to reward you with rewards just because your fin data is stored with him?
rewards program is funded by two things
1.MDR
2.Financially illiterate cc users who convert to emi

 

[rockking1994]

1.No they arent shifting monopoly as at the end of the day customer has the choice to choose.
2.No customer gets a reward for his fin data.If that is the case shift to cash.
Do you ask your broker to reward you with rewards just because your fin data is stored with him?
rewards program is funded by two things
1.MDR
2.Financially illiterate cc users who convert to emi

1) not sure how that will work as most apps and websites have single payment processor
2) a persons data is a gold mine for advertising companies like google and facebook just remember this if something is for free then you are the product gpay paytm phonepe is not here for charity

 

[sxchzy]

1) not sure how that will work as most apps and websites have single payment processor
2) a persons data is a gold mine for advertising companies like google and facebook just remember this if something is for free then you are the product

1.Even if they implement in app upi payment processing they will give option of third party upi processing
2.You do not get rewards for upi spends because your data is with them
You get it because govt provides them with re embursement for their services based on their footfall and upi transactions done.
And if you have a problem with sharing your data shift to cash.
You can't have it all

 

[rockking1994]

1.Even if they implement in app upi payment processing they will give option of third party upi processing
2.You do not get rewards for upi spends because your data is with them
You get it because govt provides them with re embursement for their services based on their footfall and upi transactions done.
And if you have a problem with sharing your data shift to cash.
You can't have it all

I do not have problem in sharing my data as its already out there from a long time
I have to disagree on the second point as the government reimburse the banks and not the payment apps such as gpay and paytm they are in this for your data it similar to how google search is free to use because they need your data for there advertising business