The Ledger
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Rajagopal: Amazon was the first to launch a digital wallet in India
“I think we were the first to you know, put out that wallet in the system in Indian system.”
Rajagopal: Brazil's Pix and Singapore's PayNow copied UPI but cost users money
“So in some sense, I would say, if you look at a PICS in Brazil, or if you look at a PAYNOW in Singapore, they have largely been modeled on UPI. The interesting thing, they are not zero cost yet, right? You know, while we have a zero MDR structure.”
Rajagopal: Fintech lenders score user credit behavior based on installed phone apps
“I've known fintechs tell me that the number of apps and what apps are there on a person's phone tells a lot about the person's credit behavior.”
Rajagopal: India is the world's leading country in digital payments
“Today India is the number one country in digital payments in the world.”
Rajagopal: UPI processes around 25 billion transactions each month
“Just on UPI we process around twenty five billion transactions a month.”
Rajagopal: UPI volume is 10x what credit cards achieved over two decades
“And that's a scale that we have achieved, which is more than 10 times what credit cards has achieved over more than two decades, right?”
Rajagopal: Cross-border fintech cannot be cookie-cutter across regulatory corridors
“So you cannot say, okay, I've solved X to Y country, so I can replicate. No, you have to solve it for every single corridor.”
Rajagopal: 300,000 to 500,000 students access cross-border credit annually
“So I think today so you know, if you were to look at it every year, right, almost give or take Three to five lakh students avail of this. Right. And this is just the number of students who avail of this. And you can think about it. This is three to five lakh s…”
Rajagopal: Large financial firms now use AI voice bots for debt collection
“We are seeing large companies willing to adopt voice bots for collections.”
Rajagopal: UPI costs are subsidized by government and borne by banks
“And to be really accurate, there is cost in the UPI system today, which is borne by the banks. So it is, Not zero cost for everybody, but it's zero cost for the user and the merchant, right? To be really accurate. And that caused by the banks, there is also a …”
Rajagopal: Credit Cards Will Not Disappear Despite Instant Payment Rails
“So, so my belief is that credit cards will be there, right? Because they provide a certain set of advantages, rewards, et cetera, which are relevant for a certain customer segment. So it's not going to go away, especially if you see a slew of co-brand credit c…”
Rajagopal: Solving India's low credit penetration will take another decade
“Because even today the credit penetration in India is very less. Whereas the need for credit is very high. Right. And that's a real problem that I think will, and that's a real thing that we will take possibly another decade to solve before we say, okay, we ha…”
Rajagopal: Admitted students can get unsecured US credit cards before arriving
“So, so today, you know, when students, even before, even they land in the US, the moment they get their admit, they get a card here. It's an unsecured card, right? They get an instant savings bank account, which they can load money into, they get a card, they …”
Rajagopal: Amazon Payments merchant division grew almost 85 times
“Grew the business almost 85 times since the time it started.”