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Another story on #PayTech from @TheKenWeb, this time on @BharatBillPay #BBPS and NPCI being a behemoth the-ken.com/story/knock-kn…. Time for thread again, full disclosure I haven't read @tam_arund piece since I dont subscribe.
First up some fact checking on email, tweets. Then some commentary about BBPS, then the larger idea of NPCI being the behemoth, what it means to industry, @CashlessConsumr and the whole data game.
First, commentary on the email from @r0h1n

// Because there’s just no telling when it will decide to become a competitor. //

They are in for it to super control the market, not compete. Even on BHIM in UPI, technically, NPCI is operator, the banks are the players market wise.
Read 17 tweets
A thread on #UPI PSPs who come in all shapes and sizes, Some history from 2016, some thoughts on bank led model, API gatekeeping, unbundling of #UPI, hierarchy of players, business impact.
#UPI hit the market with ~18 banks going live in July 2016. All of them released an app, had their own PSP backends, were issuers. A week later @PhonePe_ became the first non-bank PSP with an YesBank partnership operating its own PSP backend.
Days later few more apps built by startups hit. All of them with YesBank partnership, using Yesbank PSP backend. SBI and HDFC were largely holdouts to UPI, did not have choice but to launch post #DeMo
Read 23 tweets
I dont have any soft spots for @NandanNilekani, but this needs demystifying for people to see larger picture and not get personal, potshot happy and forget, but its important to understand what ROHINI is, what the healthcare agenda is, so Thread.
IIB is registered society, promoted by insurance industry as an agency to provide sector level cooperation. Regulators : Industry bodies :: RBI-TRAI-IRDA : IBA / NPCI-COAI-IIB. These industry organizations exist to shape larger policy around industry to safeguard themselves
IIB was formed in *2009* and ROHINI is health insurance market analyzing product which the insurance industry needs. That they have effectively lobbied regulator IRDA to make it mandatory is another thing, all these before *Modi care*
Read 17 tweets

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