UPI

“UPI has been the biggest boon that's happened to the Indian startup ecosystem because now you have, you know over a hundred million Indians that actually transact online.”

“Actually, we have leapfrogged China in one area that's in UPI because we were able to get all the 21 banks together to work with each other and make all payments, you know, almost frictionless and also the cheapest way possible.”

“Yeah, it's really cool, you know, what the government has done in India and UPI, Aadhaar these are all really smart things that the Indian government has pioneered for the rest of the world, and it'll be interesting to see where else these things happen. Hones…”

“And this, what we see on, saw on the UBI is going to go back to other countries. I'm sure South African countries or some European countries, some APAC going to inherit and say, hey, this worked in India. Let's just copy the framework.”

“Risk and fraud is another big area that we see emerging due to the launch of UPI and making digital payments more and more convenient. We also saw a big rise in terms of all the incidents around, you know, scamming people or people losing money because of all …”

“If you look at UPI users, that number will be around 44, 45 CR.”

“So fintech, like UPI and, you know, everything else that India has developed, I think is amazing. We're already integrating with the Singapore and Middle East, and so I think that is a welcome change. It will disrupt Visa, MasterCard, you know, all of these.”

“The numbers for UPI started ticking up slowly only in September of 2017. And whoever entered the UPI market after September 2017 does not effectively exist.”

“SBI and HDFC did not launch UPI in August, 2016.”

“And on, on, on February 11th or February 13th, I forget the date, ah, of 2016, was in, in Taj Vivanthal, ah, the sandbox that was launched. And 321 people came for that. I remember that because, you know, everybody had to register. There was only one VC amongs…”

“I think without a doubt, having run marketplace online distribution core for a while and understanding how simple the hurdles are and how detrimental they are to the customer or the seller. I think it can be a game. I think it's a game changer, right? And the …”

“UPI took a decade. This is probably also going to take that much of time. But all the learning that went through in the previous ones as they get used over here I'm hopeful that things will move faster.”

“Digital banking I would say leaders, UPI is, of course, I would say the only thing where we are clearly leaders globally, globally, not even US competes.”

“I don't think anyone in the West has done anything like as ambitious as UPI. I think it's like an incredible triumph of public-private collaboration.”

“If you look at the largest payment systems globally, whether it is Visa or MasterCard or American Express in the US, or whether it is Alipay in China, they have a substantial, if not majority credit component. In India, UPI is massive, but it's debit only. So …”

“There is literally, literally no meaningful country which has adopted UPI as a domestic payment system. Within their country.”

“Today in the fast payment world, the momentum is not with UPI is with PIX. It's a Brazilian system, which is inspired by UPI as they say. And but they've done a very good job of the basics of taking it out.”

“And we have we did a very poor job of that with Aadhaar, better job with UPI, better still with Depa.”