Discover and read the best of Twitter Threads about #upi

Most recents (9)

#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
#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
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
Now that the lawyers have run their marathon and we wait for the top court to rule, a small personal diary note thread on #Aadhaar & me.

Huge thanks to community of people who have widened my wisdom of how society works. Fellow helpless people helping each other.
It started sometime in 2011, when I knew nothing, enrolled along with family.But our enrollment packets were lost, EID wasnt even searchable. I did write some emails to support, but yielded nothing more than, please enroll again. As the need wasn't real, did not enroll.
Parents gave up at a later date, enrolled, got UID successfully generated. I resisted, mostly because of laziness, but did not have developed trust enough to enroll. On random browsing sessions, have heard Usha Ramanathan on YouTube, but never took deep dive into issues.
Read 33 tweets

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