Discover and read the best of Twitter Threads about #UPIpayments
Most recents (4)
UPI vs Credit Cards ⚔️
Feb 2017 -
• UPI - 1,900 Cr
• Credit Cards - 28,740 Cr
Feb 2023 -
• UPI - 12.3 Lakh Cr
• Credit Card - 11.9 Lakh Cr
The two payment technologies are duelling for the same space
Here's why credit cards are growing ⤵️
Feb 2017 -
• UPI - 1,900 Cr
• Credit Cards - 28,740 Cr
Feb 2023 -
• UPI - 12.3 Lakh Cr
• Credit Card - 11.9 Lakh Cr
The two payment technologies are duelling for the same space
Here's why credit cards are growing ⤵️
1/5
It's largely due to reward points 🏆
In recent years, banks and credit card companies have been offering more and more lucrative reward programs to attract customers to use their cards 🤩
It's largely due to reward points 🏆
In recent years, banks and credit card companies have been offering more and more lucrative reward programs to attract customers to use their cards 🤩
2/5
These rewards can include cashback, discounts on purchases, travel perks, and more ✈️
Many customers find the promise of these rewards too good to skip and are using their credit cards more often to earn them 🛍️
These rewards can include cashback, discounts on purchases, travel perks, and more ✈️
Many customers find the promise of these rewards too good to skip and are using their credit cards more often to earn them 🛍️
"Breaking Down NPCI's Recent Circular: What It Means for Customers"
Short Answer: No Charges for UPI transactions for customers such as ourselves.
To Understand the announcement thoroughly & in simple terms, please read the following 🧵👇
#npci #UPIcharges #UPIPayments
Short Answer: No Charges for UPI transactions for customers such as ourselves.
To Understand the announcement thoroughly & in simple terms, please read the following 🧵👇
#npci #UPIcharges #UPIPayments
1)What are UPI and NPCI?
It is a technology/system that allows users to link more than one bank account in a single smartphone app & make fund transfers without having to provide an IFSC code or account number.
NPCI is an organization that launched UPI.
It is a technology/system that allows users to link more than one bank account in a single smartphone app & make fund transfers without having to provide an IFSC code or account number.
NPCI is an organization that launched UPI.
2) What does the NPCI circular say?
The recent NPCI circular only talks about transactions using Prepaid Payment Instruments(PPI).
Think of PPI as a digital wallet like your Paytm Wallet.
This rule does not affect transactions made through banks using UPI.
The recent NPCI circular only talks about transactions using Prepaid Payment Instruments(PPI).
Think of PPI as a digital wallet like your Paytm Wallet.
This rule does not affect transactions made through banks using UPI.
1/ #JustIn🚨: #UPI transactions not free anymore? 😯
Here’s what you need to know before going haywire on #UPIpayment ⤵️
Here’s what you need to know before going haywire on #UPIpayment ⤵️
2/ @NPCI_NPCI recently announced a new proposal.
According to the mandate - An intercharge fee of 1.1% will be charged on #UPIpayment exceeding Rs 2,000.
This proposal will come into force starting April 01, 2023.
According to the mandate - An intercharge fee of 1.1% will be charged on #UPIpayment exceeding Rs 2,000.
This proposal will come into force starting April 01, 2023.
3/ But the important question is - will you, as a consumer, be charged this 1.1% amount? 🤔
The answer is 'no!'🙅♂️
The answer is 'no!'🙅♂️
📌 ‘द पैम्फलेट’ @pamphlet_in फैक्ट चेक | #UPI भुगतान पर क्या अब सरकार पैसे काटने जा रही है? ट्विटर समेत सोशल मीडिया पर लगातार कई लोग यह अफवाह फैला रहे हैं, जानते हैं क्या है सच्चाई #UPIcharges
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ऐसे कई ट्विटर अकाउंट थे, जिन्होंने बिना पुष्टि किए हुए भरपूर दुष्प्रचार किया कि केंद्र सरकार अब UPI के माध्यम से होने वाले भुगतान पर अतिरिक्त शुल्क लेने जा रही है। लोगों ने यहाँ तक कहा कि ‘ऐसे में डिजिटल भारत कसने बनेगा’?
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NPCI, जो कि UPI की गवर्निंग बॉडी है, उसने एक प्रेस रिलीज जारी करके स्पष्ट किया है कि UPI द्वारा होने वाले भुगतान पर ऐसा कोई भी चार्ज नहीं लगाया जाने वाला है।
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3/n
