Discover and read the best of Twitter Threads about #UPI

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Open Network for Digital Commerce #ONDC

A Thread 🧵↓
1/ What is Open Network for Digital Commerce(ONDC)?

#ONDC is a decentralized platform that will allow buyers and sellers to connect and transact with each other online irrespective of which ecommerce portal(s) they are listed on.
2/ Why ONDC?

The open technology network aims to challenge the dominance of e-commerce behemoths like #Amazon and #Flipkart.
Read 7 tweets
#UPI #AppUpdate Samsung Pay play.google.com/store/apps/det… Minor bug fixes and improvements in the app...
#UPI #AppUpdate Payzapp - UPI & Bill Payments play.google.com/store/apps/det… Bug Fixes and Enhancements....
#UPI #AppUpdate Kotak - 811 & Mobile Banking play.google.com/store/apps/det… • Bill Pay – Now Pay your Municipal &amp; Clubs and Association bills thorough Bill Pay.<br>• My Kotak – Experience a improved UI interface for our My Kotak Screen....
Read 4 tweets
How you can withdraw money from ATM via UPI
#UPI #CardlessWithdrawl
A thread 👇
When you visit ATMs you will find an option of UPI-based cash withdrawal. Once the amount is keyed in, it will generate a QR code.
The customer then needs to scan the QR code and enter the pin on their UPI app and cash withdrawal will be executed.
Read 4 tweets
Financial Inclusion via Digitisation in India: A 🧵👇🏽

#Indiastack #AadharStack #finance #InnovationForEveryone
A digital infrastructure known as the India Stack is revolutionising access to finance for everyone in the country
Innovation in digital finance means that millions of people in the formal and the informal economy can now accept payments, settle business transactions, and do funds transfer across the country with just a few clicks on their smartphone !📲

#UPI #GST #India
Read 35 tweets
Enable bank UPI with #Aadhaar OTP
timesofindia.indiatimes.com/articleshow/90… . This is a frankenstein monster, under the garb of supporting UPI123Pay / feature phone #UPI support and is compromising security risk for a majority of users. Lets understand in a #Thread

cc @suchetadalal @dilipasbe
This week @RBI launched #UPI123Pay aka a set of options to support #UPI on feature phone
rbi.org.in/Scripts/BS_Pre…

UPI PIN in addition to device binding constitute the 2 factors of authentication. As any #UPI user would know, (re)setting #UPI PIN requires debit card authentication
Did you know banks don't issue debit cards in rural india? How will they use the feature phone UPI then ?

livemint.com/industry/banki…

Push for a UPI ecosystem minus debit  cards  as RBI  vows  inclusion
Read 12 tweets
#UPI
நாம இப்ப எங்கயாவது வெளில நண்பர்களோட சாப்பிட போகும்போதோ அல்லது ஷாப்பிங் செல்லும்போதோ அதிகமா Wallet எடுத்துட்டுபோறது இல்ல,சாப்பிடு முடிச்ச பிறகு அண்ணா இங்க Phonepe இருக்க Gpay இருக்கானு கேட்காத நாவுகளே சில நேரங்கள Payment Transaction complete ஆகாம விழிபிதுங்கி நின்ற
அனுபவங்களும் எல்லாருக்கும் உண்டு,இப்படி சில நேரங்கள இப்படி இருந்தாலும் பல நேரங்களை கைகொடுக்கிறது UPI TRANSACTIONS தான்,சின்ன சின்ன தெருக்கடைகள் முதல் பெரிய பெரிய கடைகள் வரியும் இதோட பயன்பாடு பல வகைகள இருக்கு.

மக்கள் இதை இன்னும் அதிகமா பயன்படுத்துறாங்க அப்டிங்கிறதக்கு உதாரணமா
கடந்த அக்டோபர் மாதம் UPI மூலமா மட்டும் சுமார் 421 கோடி Transaction பண்ணிருக்காங்க நம்ம மக்கள் அதுவும் வெறும் ஒரு மாதத்துல அந்த Transaction ஒட மொத்த பண மதிப்பு சுமார் 7.71 lakh கோடி ருபாய்.இதுல நமக்கு தெரிஞ்ச Phonepe,Google Pay,Paytm எல்லாம் இருந்தாலும் மக்கள் Whatsapp Payment
Read 7 tweets
#भारत_भाग्य_विधाता
#Thread
2014 पूर्वी उठसुठ #US #Russia ह्यांच्याकडे धाव घेत होतो. पण आज चित्र बदलल आहे. UK, US, रशिया ह्यांचे #NSA हे श्री अजित #डोवाल ह्याना भेटायला भारतात येतात का? तर #अफगाणिस्तान! तोच अफगाणिस्तान ज्यावर रशिया,US (#महासत्ता😜) ह्यांनी अयशस्वी राज्य केलं! १/७
मोदी सरकारचे अपयश आहे काही गोष्टीत मान्य करायलाच हव पण हे सुद्धा बघायला हवं की जे गेल्या ७० वर्षात झालं नाही ते आता घडतंय. अतिदुर्गम भागात रेल्वे, राम मंदिर निकाल, ३७० कलम, तीन तलाक ह्या गोष्टी घडल्या. २/७
नुसतं गल्लीत माझा नगरसेवक, सरपंच - कार्यसम्राट, दादा, ताई हे करून आपला फायदा फक्त क्षणिक आहे. कारण राष्ट्र जर सुरक्षित हातात नसेल तर काय होऊ शकत हे आपण अफगाणिस्तान मध्ये बघतोच आहोत. विरोधक कितीही बोलले तरी मोदींना 🔔 फरक पडत नाही. ३/७
Read 8 tweets
With an increasingly reliable data of infections, hospitalisations and deaths despite vaccination, it would be prudent and a legal obligation to revoke all permissions of emergency use of vaccines. Ignoring these conditions and deaths is criminal negligence. @WHO @CDCgov @US_FDA Image
#MIGPAR Action: Israel: “There are so many breakthrough infections that they dominate and most of the hospitalized patients are actually vaccinated,” says Uri Shalit, a bioinformatician at the Israel Institute of Technology (Technion) sciencemag.org/news/2021/08/g…. #DigitalIndia @PTLB
Almost half of Covid-19 patients admitted to hospital so far this week have been fully vaccinated, the HSE director-general has said thetimes.co.uk/article/half-o…. #DigitalIndia #IndiaAt75
Read 128 tweets
#eRUPI #UPI Vouchers for benefits is a radical departure from #DBT. Purpose and person aware #G2P payments are here. #SaveOurPrivacy
en.m.wikipedia.org/wiki/Ration_st… is digitized food stamps, but crucial digitization difference is it converts a bearer instrument like stamp / coupon into a person / purpose specific instrument, embedding automatic data emission about beneficiary upon use.
The naming of this is curious. When countries around the world are discussing #CBDC / issuing new digital currency, naming a private payment instrument #eRUPI is sign of things to come (?). One can only speculate at the moment.
Read 17 tweets
8.9% YoY #CoreSector growth in June 2021,rise in Exports by 48.34% in June,with #ServicesExports rising from $17bn in 2001 to $205 bn in 2021,under @narendramodi govt,V shaped recovery,is gaining traction

India's IT sector recruited 69132 people in 1QFY22

My thread on #Economy
Almost every month,over 2.5 billion transactions are done in India,via #UPI,worth Rs 5 lakh Cr+

#eRUPI,developed by NPCI under aegis of @narendramodi govt,will now add to #DigitalTransformation

#DigitalEconomy set to be a Trillion Dollar one,by 2025-26,thx to cashless payments Image
#GST Revenue at 1.16 lakh Cr in July'21 bodes well

Since Oct 2020,#GSTRevenue has been over Rs 1 lakh Cr every single month,barring June,when it dipped to 92849Cr

Biggest drop in contribution is from #Maharashtra,due to continued uptrend in #Covid,thx to inept @CMOMaharashtra👎
Read 6 tweets
I am late to this party but wohooooooo 🎉🎉🎉

UPI e-vouchers will change the world of Direct Benefit Transfers (and gift cards) forever.

Read 👇 to understand how (1/10) :
#upi #payments #fintech #DigitalPayments
(2/10) GOI's press release explains E-voucher as a 'digital payment option which enables financial transactions linked to a specific purpose which can be used only by the intended user'

What does that mean?
(3/10) E-vouchers are digital gift cards built on top of UPI.

Basically, GOI can now create a subsidy scheme by identifying
A) The people who need assistance
B) Shops where these guys should be able to spend

Once this is done, transfers can begin in <24 hours.
Read 11 tweets
What business media covering payments will never tell you about - Is @PayTM - a third party app or not.

Why is this important ? - Because I see, @PayTM being the biggest beneficiary of the recent @NPCI_NPCI circular on #UPI cap
According to @NPCI_NPCI website - PayTM app is by @PaytmBank
According to @RBI webiste, @PayTM transferred its wallet operations from One 97 Communications Limited to @PaytmBank
Read 7 tweets
2 minutes to understand data-maximisation in #UPI and also why #Whatsapp had to go on PR mode about transaction remaining secure and *private*. - This is @jackerhack explaining data maximisation in #UPI using #WhatsappPay as example.
If you want to catch the entire discussion on #LeanDataPractices by @mozilla folks, watch it on @hasgeek channel at
The wonderful folks @hasgeek are putting together another event on #LeanDataPractices

Alicia Gray, Privacy Officer at @mozilla, will be speaking this Friday, introducing Lean Data Practices and how to do data management with LDP.

RSVP hasgeek.com/PrivacyMode/le…
Read 3 tweets
India is leapfrogging.
India has set up systems at unmatched scale, for over billion people, from #Aadhaar to #UPI to #HealthID, India is showing the way to the world.
A digital health ecosystem, complete with a personal health ID for every Indian, identifiers for doctors, health facilities and personal health records.

The possibilities from AI to invaluable anonymised public health data.
Read 6 tweets
#Sensex@36000+ for 1st time since 11thMarch

Rupee/$ 75.01,best since 27th March

#BajajAuto sales@2.78Lakh units, for June,up 119% MoM

#GST revenues for June,90917Cr

#AxisBank to raise $2bn from PEs

RBI commences 30000Cr special liquidity scheme for NBFCs&HFCs
#GreenShoots
#HeroMotoCorp,world's largest wheeler company,sold 4.5 lakh units in June 2020

This is a massive 302% growth over 1.12 lakh units,despatched in May 2020

This stellar performance came,in midst of a raging pandemic

Leftists& #Twitternomists, quiet😑

#GreenShoots #Modinomics💪
#UPI transactions in June hit all time high of 1.34 billion in terms of volume,Vs 1.23 bn in May2020

Value of June transactions was Rs 2.62 lakhCr,as per #NPCI data,Vs 2.18 lakh Cr in May

Huge surge in UPI trades,big vindication of #Demonetisation& #DigitalIndia

#GreenShoots
Read 5 tweets
#UPI creates a new record in June: Processed around 1329.4 million ~ 1.33 billion transactions worth Rs 261,835 crore or Rs 2.61 trillion Image
The above-mentioned data of UPI was released by RBI and NPCI respectively
Read 3 tweets
How India’s largest startup justified a billion dollar spend on advertising.

Powered by @paper_vc

#Fintech #UPI #Payments #Marketing #Advertising #PaperVC Image
I’m not a huge fan of digital wallets. But, somehow, every time I need to use one, I hear that oddly sweetish #PaytmKaro melody in my head. It’s annoying. But, the jingle has done its job. @Paytm is my default payment option every time I run out of cash.
Overall, their advertising strategy has mostly revolved around emotive TV commercials, frequent full-page print ads (remember the day after demonetization?) and a sponsorship deal with the Indian Cricket team that runs till FY '23.

@BCCI

#India #Cricket #ViratKohli Image
Read 12 tweets
#CashlessConsumer Much has been talked about #ZeroMDR amidst lot of panic based misinformation, half truths.

1.1.2020 marked 3 significant changes to payment industry all of which have deep implications. #Thread
Facts first and opinions later.

On 30 Dec, FinMin clarified provisions in Finance Act relating to digital payments

1. 269SU meant for large companies > 50 Crores, mandating to accept "prescribed modes"

2. 271DB - Penalty for violating 269SU
incometaxindia.gov.in/communications… - Link to notification.

269SU makes #ZeroMDR, but important to note its applicable only for large businesses and only for "prescribed modes"

Prescribed modes came via incometaxindia.gov.in/communications…
Read 16 tweets
Wow! @Google writing to the #Fed to replicate #UPI is a great example of what I once told @tomfriedman at a friend's house in 2008. #TheWorldIsFlat - no, #TheWorldIsUpSideDown & India is showing the way!

Excited & Proud to see the next wave of #IndiaInnovations go to the world!
@Google @tomfriedman So what will it take for UPI to become one of India's key exports? I expect there is nothing to be gained in aiming to "license it". Yet, we could proactively propose a global, interoperable payment network on UPI that takes into account inter-country money-transfer regulations.
While nothing stops other countries from copying UPI, if India were to proactively put out the UPI specifications and standards, we would create a great opportunity for countries to clone or better still take solutions from India - this could create a great opportunity.
Read 6 tweets
#UPISecurityIssue A friend send me money via @PhonePe_ , and it went to my @FederalBankLtd account which is inactive for last 4-5 years! 1/n
@PhonePe_ @FederalBankLtd That @FederalBankLtd account doesn't even have mobile / internet banking features. I have never used @PhonePe_ in my life, but phone pay shows that my number is linked to this bank and created a UPI code "automatically" !! 2/n
@PhonePe_ @FederalBankLtd Her version is that - she searched my phone number, it showed a "valid UPI" and my full name. The money came to @FederalBankLtd account, but I have never made a UPI. In fact, it's asking me for KYC since the account was idle for years. I feel so scared about @NPCI_BHIM now 3/n
Read 10 tweets
1/: @bharatpeindia is bringing millions of small merchants on to the #digital payments ecosystem for the first time. Their goal: to become the largest enabler of free offline #payments and provide a one-stop platform for all #financial commerce solutions.
2/: Through a unique 30 second on-boarding process, @bharatpeindia has already reached a 1.7 Mn user base. 4 Mn+ #merchants will be using the platform by FY 2020.
3/: There are 50 Mn merchants in India, a vast majority of whom are underserved by #banks and #NBFCs. The credit gap in the market is ~$400b. This is the opportunity the company is going after.
Read 6 tweets
There was a super insightful fireside chat with @vkhosla and @NandanNilekani, moderated by @sharads, yesterday in Bangalore. My notes. Long thread.
@vkhosla: I have this fear that you can grow old when you retire, not retire when you grow old. So I hope I never retire. As long as you have interesting problems to work on, there's nothing more exciting to do than work on that.
Read 60 tweets
My donation to @rssharma3 's aadhaar via BHIM to build Govt systems with better engineering to protect user privacy.
You can also join in this #DonateToRSS / #GiveToRamSewak drive

Just like pay to Aadhaar in BHIM , you can donate to his Bank account without his consent using #UPI as well . You can even use @TezbyGoogle . #DonateToRSS /#GiveToRamSewak to build better engineered Govt systems.
See what one rupee revealed . His Aadhaar mapped to an account is in Bank of India . (BKID is Bank of India's short code)
Read 3 tweets
@Paytm any issues with your @PaytmBank ? tried transferring the money a few times and all went in pending state. Source account is debited and mode used was @PhonePe_ #upi
Also, @Paytm how do you ensure that at the toll plazas dual debit doesn’t happen? In a recent case, cash was collected at the toll and the fastag wallet also got debited. Realised the same with a delay as the notification came after sometime. @deepakabbot @vijayshekhar #paytm
@Paytmcare screenshot of the transaction has been sent as a DM and also a ticket has been raised in the app as well. @Paytm
Read 4 tweets

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