I’ve spent 20 years in fintech, building products at PayPal, Mastercard, and Gojek, and one thing hasn’t changed.

People don’t lose money because they’re careless. They lose it because the online world moves faster than they can think.

This thread is about the small digital habits that quietly put you at risk, and how to stay safe without living in fear. 1/ You’re at the airport, waiting for your flight. The Wi-Fi is open, fast, and free.
You check your bank balance or order something online.
It feels harmless, but that same network is open to anyone nearby who wants to intercept data.

↳Use mobile data or a VPN for anything financial. ↳Public Wi-Fi is convenient, but your connection isn’t private.

Every rupee increase in UPI transactions reduces debit card usage by 14 paisa.

This isn't just digital adoption - it's mathematical proof India has rewired how 1.4 billion people handle money.

SBI Research dropped jaw-dropping numbers that reshape everything we know about payments 🧵👇

@ahier @AlexH_Johnson @Arjun_Vir_Singh @amitTwitr @antgrasso @bamitav @BrettKing @cgledhill @chidambara09 @Chris_Skinner @Damien_CABADI @davidbrear @devie_mohan @DLTevangelist @efipm @Eli_Krumova @enricomolinari @f_burelli @Fabriziobustama @FGraillot @FinMKTG @FintechBalerina @Hana_ElSayyed @helene_wpli @JameDiBiasio @JimMarous @JoannMoretti @Khulood_Almani @LedaGlyptis @linasbeliunas @oost_marcel @mikeflache @mikequindazzi @mikulaja @nafisalam @norbertgehrke @pkriaris @psb_dc @richardturrin @rshevlin @SabineVdL @samboboev @sarunibm @SpirosMargaris @sytaylor @tanvi_ratna @UrsBolt @visible_banking @Xbond49 @YuHelenYu 1/ UPI transactions:

Rs 24,554 billion monthly Cash growth: Rs 193 billion monthly

That's 127x faster growth.

We're witnessing the fastest payment method adoption in financial history.

Banks love senior citizens. Not because they care, but because they profit from their mistakes.

Don’t let this happen to your parents.

If your parents are above 60, this thread will save them money, stress, and time.

If you help your parents manage their finances, then, you don't want to miss this thread either.

Bookmark it. Share it. Use it. 1/ Never set “auto-renew” on fixed deposits.

Sounds convenient, right? Wrong.

When you actually need the money, you’ll pay penalties to break it.

Great for the bank’s P&L.
Terrible for your parent’s pocket.

Digital Rupee (e₹) Adoption is about to get a major boost! Fintech Firms to Join the Party!

The Reserve Bank of India @RBI is opening doors for non-bank payment system operators (PSOs) to offer CBDC (Central Bank Digital Currency) wallets.

Thread 🧵 1/ Why Governments Are Bullish on CBDCs

Central Bank Digital Currencies (CBDCs) are catching the eye of governments around the world, and for good reason. One key feature driving this interest is programmability.

Unlike traditional cash, CBDCs can be designed to restrict how they are spent.

𝗙𝗼𝗿𝗴𝗲𝘁 𝗖𝗮𝘀𝗵, 𝗜𝗻𝗱𝗶𝗮 𝗶𝘀 𝗚𝗼𝗶𝗻𝗴 𝗪𝗮𝗹𝗹𝗲𝘁-𝗙𝗶𝗿𝘀𝘁: 𝗔 𝗣𝗮𝘆𝗺𝗲𝗻𝘁𝘀 𝗥𝗲𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗶𝗻 𝘁𝗵𝗲 𝗠𝗮𝗸𝗶𝗻𝗴

According to Global Payments Report 2024, by Worldpay
• Cash may be king in some parts of the world, but in India, digital wallets are rapidly becoming the preferred payment method,
• This innovative shift, driven by the ubiquitous UPI (Unified Payment Interface), is transforming the world's most populous market and has the potential to reshape global payments.

🔖Save this post NOW

Thread 🧵
𝗞𝗲𝘆 𝗦𝘁𝗮𝘁𝘀 𝗮𝗻𝗱 𝗙𝗮𝘀𝘁 𝗙𝗮𝗰𝘁𝘀:

𝗣𝗼𝗽𝘂𝗹𝗮𝘁𝗶𝗼𝗻: 1,417,173,000 (A massive market primed for digital adoption)
𝗚𝗗𝗣 𝗣𝗲𝗿 𝗖𝗮𝗽𝗶𝘁𝗮: $2,388 (Rising disposable income fuels e-commerce and digital payments)
𝗘-𝗰𝗼𝗺𝗺𝗲𝗿𝗰𝗲 𝗦𝗶𝘇𝗲: $117 billion (7th largest globally - and growing)
𝗣𝗢𝗦 𝗦𝗶𝘇𝗲: $2.02 trillion (3rd largest globally - ripe for digital disruption)

UPI, India’s real-time payment system, crossed 10 billion monthly transactions in August 2023.

But it has set an ambitious target of achieving 100 billion transactions per month in the near future.

How will it do that?

Read on to find out.

Thread 🧵 1/ Lets dive into UPI Growth by Numbers first

UPI achieved a 55% YoY growth in transaction count and an impressive 41% YoY growth in transaction value. The adoption rate is skyrocketing!

How does India 🇮🇳 Pay ₹?

who emerges as the Digital Payments Leader among UPI, credit Cards, debit cards, prepaid wallets and prepaid cards?

A thread 🧵 A report from Q1 2022, by @WorldlineGlobal confirms that UPI P2M transactions emerged as the most preferred payment mode among consumers with a market share of 64% in volume and 50% in terms of value.

(1/n)

The *next* UPI moment for India's Retail Digital Payments has been announced- Credit cards can now be linked to your UPI, starting with RuPay

A Thread 🧵 UPI is India's leader in digital payments with 60% market share in only 5 years of launch breaching the $1 trillion mark in payment volume only recently.

First, the upsides

UPI largest retail payment system in India and UPI volumes have exceeded ATM Withdrawals since April 2020: Economic Survey Of India 2021-2022. Could this finally mean India prefers #DigitalPayments over cash? A thread 👇 1. Unified Payments Interface (UPI) is currently the single largest retail payment system in the country in terms of volume of transactions, indicating its wide acceptance In December 2021, 4.6 billion transactions worth ₹8.26 lakh crore were carried out by UPI.