Every business have these everywhere now and it's extremely convenient. I paid ₹2 for chewing gum and the vendor said "mera desh dijital ho rha hai" and started laughing😂
That was 4.6 million vendors and not users. UPI is used by majority of India. Personal payments or Vendor payments. It works for all. Maximum amount that can be transferred freely on daily basis is INR 5 lakhs@@PakistaniReacts
The fact is UPI works in every platform just scan and pay ...... it's the best thing India did because it's the transaction between businesses or people anybody you can just transfer upto 10000 dollars at one time without any transaction fee or anything..... wheather it's a college or school fee or hospital bills it's everywhere even our pani puri vendor's have it.
Bhai cash use karna bohot kam ho gya hai india mein jab se UPI aaya tha kyi saal ho gye use karte huye. It is everywhere, from smallest of vendors to biggest of restaurants/businesses.
Yes, ye numbers incorrect hai is video me! Aj kal har kisi k pass hai, I haven’t seen any person who don’t have UPI, in last 2 years! 300 million unique users. As of October 2024, UPI (Unified Payments Interface) has become immensely popular in India, with over 300 million unique users, a figure which includes both individuals and businesses. This growth reflects UPI's ease of use, no-cost model, and support from the Indian government and the National Payments Corporation of India (NPCI). Monthly transaction volumes have consistently exceeded 10 billion, marking a new record, as UPI continues to dominate the digital payments space in India.
I have been using UPI for the last 9 years. I had even paid 2 rupees for xerox to 20,000 from gpay. There's no need to pay by coins and notes anymore in india. 😂😂😂
US has a better system called NFC payment. You just have to tap your card and it pays. No hassle of opening your phone opening app etc. super quick and no battery.
@@Anonymous-gh6xfits pretty common in idia too, i have been using it since many years, but for that every vendor must have pos machine which is not possible. So india is more advanced in digital payment than US
This video only depicts 20% of UPI. I heard the apps you called out, but UPI is way different and connects bank accounts through any app, if you have 1 app you can even send money to another app users just with a id or qr and it is also accepted by various other countries too, like Indians can make payments of foreign currency though UPI Indian account. Find a proper video this was just a trailor.
I'm a college student and I haven't used any cash since last 4 years.Students usually roam cashless in universities, everyone is just paying through their phones.
Living in a tier-2 city like Ahmednagar, I used to think that digital advancements were mostly limited to tier-1 and tier-2 cities and, to some extent, certain parts of tier-3 cities. However, the other day I traveled to a remote village, and it was eye-opening. In this village, women walk 1.5 to 2 kilometers every two days just to access drinking water. There was only one municipal primary school in the village, which went up to the 8th grade. Beyond that, there were no options for further education. Despite these limitations, UPI was everywhere. From street vendors to small kirana stores, everyone was using online payments, even though most of the population relies on farming. However, I noticed a troubling trend among the youth, who seemed to be wasting their time and money on gambling apps. With UPI, it has become so much easier and more accessible to put money into these apps.
Bhai tier 2-3 kya hai mere gao ke kirane wala bhi accept kar leta hai kyuki jab wo bade sahar se saman Lata hai to waha usko paise le jane ki jarurat nahi rahti waha wo UPI se de deta hai
QR payment is not new. But what makes UPI unique is that it is platform agnostic. One one company can't monopolises it. Because it is a open-source platform that was developed by gov. All private companies use it as plugin.
Mai parso pehli baar bank gaya apna account number pata karne jo kho gya tha. Unhone pucha ATM card use ni kia h kya 2 saalo se? Maine kaha nahi aur wo sab hairaan ho gye but then they realised ki UPI naam ki bhi cheez hoti hai lol
I am using UPI from 2017 when google pay was TEZ.. Earlier merchants are not so aware and doesnt have UPI. I use to do online shopping and all by UPI. But after 2019-2020 covid era. Everyone adapted it now even a small street vendors and vegetable vendors all have UPI. I didnt use cash from years now 🙌🏻
UPI systems are directly linked with bank accounts of the users and you don't need to actually load up the funds into the app . It's a direct bank to bank transfer. Nowadays there are also credit cards which work with upi so you just scan a QR code and pay via your credit card
This is old news now. Maybe you don't keep up with the news but India has had the most number of digital payments in a year continuously every year since the last five years(2019).
UPI is better than other apps that are used to transfer money here's is why: 1. its an instant bank transfer so money is transferred from one bank to another and not into any wallet 2. Unlike cards there is 0 transaction fee 3. The UPI account is linked to your mobile number and it doesn't work by just OTP you have to have the sim linked to your bank account in your phone to actually use UPI. 4. You have different apps like Paytm, Phone Pay, Google Pay, etc . and as the money is sent from bank to bank doesn't matter which app you are using you will be able to do transaction with everyone
UPI introduced in 2016, it's not new for India now...and jo data video m btaya gya h ,sahi nhi h ajj k time 10 m se 9 bande UPI use krte h .....app b Anna Indian kabi 😊
India 🇮🇳 ranks 1st globally in real time digital payments with 40% share. In October of 2024, the Unified Payments Interface (UPI) in India set a new record with 16.58 billion transactions worth Rs 23.5 trillion.
The main thing which makes UPI different is, first you don't need to be on the same app. If you are using paytm and the vendor has phone pe, it doesnt matter. Thr payment will go through. UPI is not an app, but an eco system. Secondly, UPI payments are free. There is no 2% merchant charge for vendors, unlike visa and mastercard.
For investment:- It is already a matured market... We have 15-20 transaction companies and banks... In India almost 80-90crore out of 140cr use this...
Jayegi nahi ha chuki hai. India is on top of the world in making digital payments. India reported the highest number of real-time transactions, accounting for 48% of the market share, followed by Brazil, China, Thailand and South Korea
Bhai legit not kidding Was travelling to kolkata Suddenly there were trans people in the train asking for money which is kinda usual in india The scary thing was i had no cash coz apparently im diagnosed with extreme case of cash naa leke chalo bimari Meri gaand phatt gyi bhai .... coz they do be getting touchy n all when you dont give them money . She came near me , i said cash naayi . Bro she legit pulled out a QR card out of her blouse ..... not kidding And said dhana de lo (meaning - darling de naa ) .
@@PakistaniReacts well yeah they do, and it should be considered inappropriate to touch people without permission but then people say 'they are oppressed so its ok'. Yeah... they are, which is sad, but that doesnt justify being touchy y'know.
India's digital transaction has been 89.5 million. India is on top. After India, Brazil is at number two r with 29.2 million, China 17.6 million, Thailand 16.5 million and South Korea is at number four with 8 million.1
If there's one big innovation or a cultural change happen in India in a decade or so, it has to be the digital payment, you'll find the qr literally everywhere, it's like 2 step process only, hence very easy and you'll find yourself in problems if your wallet get stolen, now thats not the thing, and you can shut down your account in minutes as well if your mobile gets stolen. Now different countries are implementing upi as well, like Bhutan, UAE, Malaysia, Singapore, Nepal, Oman, Qatar, Russia, France, Sri Lanka, Mauritius, United Kingdom, etc.
Bro upi bhot bawal cheez he ! 5:14 And password to baad ki baat he Agar bank account se register sim mobile me nai hoga to To payment app transaction process hi nai krne degi ! (If my account is fully logged in with the payment apps but there is different sim in my mobile . payment app process hi nai krne degi )
You didn't listen to it carefully she said 8.7 million merchants (not people)using a ptm sound box. India has approximately 350 million active UPi users. Moreover, India accounts for 46 % of all digital payments in the world.
I Dont even remember when was the last time I had cash in my pocket ,but roughly its 6 year i dint deal in cash with anyone. Many factor to promote UPI was demonetization of big currency plus the cheap internet price in India supported UPI in the best possible way. Kudos to Jio that end the market for foreign telecommunication service provider with the cheapest internet in the world
Bilateral Cross- border now accepted in Nepal. Was there in Nepal recently and they accept UPI. Surprisingly even they were digitalised to larger extent (but not as much as in India), with their own eco-system of software backing. Apparently the 2 nations worked on integrating India's UPI and Nepal's phone-pay systems.... Things you learn from travel.
Watch a video of Uzair Yunus on his experience of digital infrastructure in India. He is an economist hailing from Karachi, Pakistan who visited India last year.
I hardly went bank in last 3 years and have not used cash since last year ...all upi here... Be it train flight markets peer to peer any bank to any bank any time. We in india have google pay and even whatsapp pay while chatting on WhatsApp you can even pay to same person.
Trust me YOU'VE NEVER USED ANYTHING LIKE UPI, even in the US. UPI stands fot Unified Payment Interface, it's a government infrastructure for bank transafers. The revolutionary things about UPI are that it enables direct bank to bank transfer without money going to any intermediary and zero transaction fees. There's a reason why businesses don't accept Venmo in US because there are transaction costs associated to it. All these speakers are innovations above UPI, they're NOT UPI.
The biggest usp of upi is that it is direct link to your bank account you can pay to any app QR from any app. and it's source code is free to any provider by government. Even you can develop your own app by adding your own plugin.
You have a bank account then you have a upi , you send money anywhere anyone anytime , be it vendors or individual you can scan qr or enter mobile number , just scan enter amount hit pin and done within 30 second 👍
Aaj ke time pe almost har jagah upi payment chhoti se chhoti jagah pe rehta hai it's really good panipuri ke thele se bade bade mall me har jagh cash to rakhna band hi kar diya hai ab
Ye to sabhi ke pass h india ke kone kone me chhote chhote gaon me. Jo bhi smartphone use karta h un sabhi ke pass h. 16 saal ke bachhe bhi use karte h. CHINA & USA india ke close bhi nhi h digital payment me.
Bro one thing that this video missed as to how UPI is different from other online payment Apps is that there is no Middle banker thus no transaction cost. This is the reason why New Zealand and other foriegn delegates when visiting india are amazed by this and want to adopt this tech..😊
@Sumit_Girhe I am talking about majority of Indians, Majority of Indians are middle class who are suffering. By the way I am an Officer in public sector. Mujhe sympathy ki jarurat nhi.
I haven't even seen the currency for a while now...its all digital in India. Last few years se zero rupees in my wallet, only CC or UPI. Ab to shagun bhi UPI se ho raha hai😂
but it's a double edge sword as just like buy now pay later scheme, customer doesnot know his actual expenses because hard cash kharch nahi ho raha. 1 ya 2 INR ke liye bhi upi use ho raha hai 😂
Mera graduation 3 mahine pehle khatam hua,u can't believe ki mujhe hosteling ke liye poore paise ghar se UPI se aate thhe or main ek v rupya cash kharch nai krta thha sara paisa online payment hi krta thha... that's the power of my New India's innovation "UPI"...THANKS TO DIGITAL INDIA THANKS TO OUR PM SHRI NARENDRA MODI JI ❤️
UPI now works in many other countries. Problem bas yeh hai ki un countries mein penetration kam hai digital payments ka. Warna Indians ke liye foreign exchange ka issue bhi khatam.
I have almost stopped carrying wallet in metro cities like Bangalore for last 3 years. I havent seen a single shop/vendor here who doesnt accept UPI for payment.
There are 350 million active users of UPI and more than 600 banks are participating with UPI and 77 mobile apps like Google pay, phone pay, Paytm, WhatsApp pay, amazon pay, etc...
password leak also not big deal as upi is only link with mobile number its not like net banking its like sms base service in backend. when you open upi account it varify you mobile number. then you have to select bank and enter you debit card details for 1st time initiat app. if you switch phone you need to repeat this process. also most app have 2 layers 1 is app lock for payment apps 2nd is upi pin so mostly if even someone know your upi pin its hard to access app. why this is different ? because this is link with bank account so there are no mediators to hold you payment its go direct bank to bank.
This isn't zelle or venmo. UPI is an infrastructure that allows direct transfers to the bank, which isn't really available elsewhere in the world not with such seamlessness. Also UPI is run as a public good by the government
main to 4 saal tk use kr rha main allahabad paadna aaya hun 2 saalo se lekin abhi tak cash use hi nhi kiya hun auto walo ke paas bhi paytm hota hain kahi bhi jao sab ke paas hota hain ye
Difference between Apple Pay and UPI is that Apple pay works on nfc and rfid tech while UPI works on barcode system. Both have its advantages and disadvantages.
The apps which you mentioned using in USA is totally different than UPI technology. The venmo or cashify like apps just limit the transaction from venmo to venmo or cashify to cashify only, also the money transaction doesn't happen directly from bank account to bank account , instead you got to load into the venmo wallet and then send in the venmo wallet of other user. This is where UPI is different , first, its interoperable among different payment apps and second, the transaction happens directly from bank account to bank account irrespective of which bank account you are using. This technology is still yet to arrive in USA.
Implementation is a bigger achievement... And india has now biggest electronic transactions in the world... I guess 10 times China... So it's a big achievement...
I went India after 4 years in 2022 and to it surprised me when I paid in a pharmacy the sound came that the amount is being paid. I already used paytm before moving to UK but this sound box was new for me.
The biggest advantage of UPI which americans fintech will struggle with is interoperability at zero cost. They were mulling over the idea at google but american banks is a lobby you dont mess with.
Bro u r living and talk about 5 years ago, what indian people thing. But nowadays upi used more than 10cr or 100 million people only in india. Singapore, uae, france etc country used indias upi technology.
This is super technology. It produce link between adhar, bank account and mobile number. It is super fast when i was in west my money transfer in indian faster than my local bank account.
Hain ? Ye ab pata chal rha h logo ko humto soch rahe the ye technology purani ho gayi😂😂😂😂4 saal ho gaye bhai 😂😂 Hu boht tarreeke pe hain technology aur payments ke mamle mei
It is not about new ...it is about accepting the new thing in country like India....where simple chai vendor aur panipuri wala also accepting payment via upi
Bro Phonepe uses Amitabh Bacchan's Voice in their Sound Boxes and it sounds so funny!!! Deviyo aur Sajjano Phonepe par ___ raashi prapt ho gaye hai. 🤣🤣🤣
The last time I withdrew cash using ATM was in early 2020. Haven’t had the need to have cash thereafter. Moved digital completely post Covid. It’s so ingrained in India now, that I will be surprised if a vendor or service provider does not have a scanner for payment.
6 years se abtak na bank and na atm gaya hu 🗿😂
Bhai mra ghr k pss wala atm m toh kutta jata h wo v sirf sona k liya😂
@@rohitgope4006 lol
@@rohitgope4006😂😂😂😂
So true
May 1 bar ATM gaya tha 😂 or bank aj tak nahi gaya. Account bhi ghar se khola tha
Every business have these everywhere now and it's extremely convenient. I paid ₹2 for chewing gum and the vendor said "mera desh dijital ho rha hai" and started laughing😂
Hahaha what a cool moment bro.
Not just rupee you can send paise as well
I paid 1 rupee for matchstick 😅
bhai mene station pe hijare ko UPI se 10 rs bhare he.
That was 4.6 million vendors and not users. UPI is used by majority of India. Personal payments or Vendor payments. It works for all. Maximum amount that can be transferred freely on daily basis is INR 5 lakhs@@PakistaniReacts
UPI is Both Person to Person and Person to Business , and its not 4.4m its 300million active users in India!
4.4 million is of soundbox users
@ yeah but he said 4.4 users are using upi , check his statement.
4.4 million phonepe sound box was sold within a year... 🤦🏻♂️🤦🏻♂️🤦🏻♂️
The fact is UPI works in every platform just scan and pay ...... it's the best thing India did because it's the transaction between businesses or people anybody you can just transfer upto 10000 dollars at one time without any transaction fee or anything..... wheather it's a college or school fee or hospital bills it's everywhere even our pani puri vendor's have it.
10000 dollars ?
You mean 10,000 inr, right?
@@mujibsayyed7507 nah bro in india we can transfer 1 lakh INR (max limit for 24 hour btw) by using any upi app without any hidden charges
INR ₹100000 per day per account 😊😊😊😊
I think you can increase the limit by taking to your bank
And the limit for business accounts shuld be bigger I'm guessing
Bhai cash use karna bohot kam ho gya hai india mein jab se UPI aaya tha kyi saal ho gye use karte huye. It is everywhere, from smallest of vendors to biggest of restaurants/businesses.
Yeah it's pretty cool how even business have adopted to it
Yes, ye numbers incorrect hai is video me! Aj kal har kisi k pass hai, I haven’t seen any person who don’t have UPI, in last 2 years! 300 million unique users.
As of October 2024, UPI (Unified Payments Interface) has become immensely popular in India, with over 300 million unique users, a figure which includes both individuals and businesses. This growth reflects UPI's ease of use, no-cost model, and support from the Indian government and the National Payments Corporation of India (NPCI). Monthly transaction volumes have consistently exceeded 10 billion, marking a new record, as UPI continues to dominate the digital payments space in India.
@@Ismudassir Brother, these figures are of Paytm or PhonePe Sound System, not of UPI users... 90% of the people with mobile phones in India use UPI
@@mahaveerprasad6805 Yes, now UPI also works with keypad phone 😂
@@PakistaniReacts Best part is there are no charges like cards or digital wallets and the money directly comes to your account instead of a wallet
I have been using UPI for the last 9 years. I had even paid 2 rupees for xerox to 20,000 from gpay. There's no need to pay by coins and notes anymore in india. 😂😂😂
Same bro
US has a better system called NFC payment. You just have to tap your card and it pays. No hassle of opening your phone opening app etc. super quick and no battery.
@@Anonymous-gh6xf unsafe
@@Anonymous-gh6xfbut that isn't bank to bank or person to person
@@Anonymous-gh6xfits pretty common in idia too, i have been using it since many years, but for that every vendor must have pos machine which is not possible. So india is more advanced in digital payment than US
This video only depicts 20% of UPI. I heard the apps you called out, but UPI is way different and connects bank accounts through any app, if you have 1 app you can even send money to another app users just with a id or qr and it is also accepted by various other countries too, like Indians can make payments of foreign currency though UPI Indian account. Find a proper video this was just a trailor.
Its not new we using from Last 5-6 year's
I'm a college student and I haven't used any cash since last 4 years.Students usually roam cashless in universities, everyone is just paying through their phones.
Living in a tier-2 city like Ahmednagar, I used to think that digital advancements were mostly limited to tier-1 and tier-2 cities and, to some extent, certain parts of tier-3 cities. However, the other day I traveled to a remote village, and it was eye-opening. In this village, women walk 1.5 to 2 kilometers every two days just to access drinking water. There was only one municipal primary school in the village, which went up to the 8th grade. Beyond that, there were no options for further education.
Despite these limitations, UPI was everywhere. From street vendors to small kirana stores, everyone was using online payments, even though most of the population relies on farming.
However, I noticed a troubling trend among the youth, who seemed to be wasting their time and money on gambling apps. With UPI, it has become so much easier and more accessible to put money into these apps.
Govt can only provide infrastructure, using it sensibly will lie on the hands of public
Bhai tier 2-3 kya hai mere gao ke kirane wala bhi accept kar leta hai kyuki jab wo bade sahar se saman Lata hai to waha usko paise le jane ki jarurat nahi rahti waha wo UPI se de deta hai
4:51 bro chooses to spitting fact😂
QR payment is not new. But what makes UPI unique is that it is platform agnostic. One one company can't monopolises it. Because it is a open-source platform that was developed by gov. All private companies use it as plugin.
5 Saal Se Bank Nahi Gaya Na Hi Atm, So Imagine Kitna Simple Aur Aasan Way Hai
Electricity Bills, Recharges, Bank Account Statement, Loans Mil Jate Hain Aur Bhi Bahut Kuch, Sab UPI Se Hi Chal Raha Hai
Mai parso pehli baar bank gaya apna account number pata karne jo kho gya tha. Unhone pucha ATM card use ni kia h kya 2 saalo se? Maine kaha nahi aur wo sab hairaan ho gye but then they realised ki UPI naam ki bhi cheez hoti hai lol
I am using UPI from 2017 when google pay was TEZ.. Earlier merchants are not so aware and doesnt have UPI. I use to do online shopping and all by UPI.
But after 2019-2020 covid era. Everyone adapted it now even a small street vendors and vegetable vendors all have UPI.
I didnt use cash from years now 🙌🏻
We used to get cash back
UPI systems are directly linked with bank accounts of the users and you don't need to actually load up the funds into the app . It's a direct bank to bank transfer. Nowadays there are also credit cards which work with upi so you just scan a QR code and pay via your credit card
When we opened our shop first thing we bought was upi codes and audio box 😂
@22kolks no it's a cosmetics shop
Main last 3/4 saal se kuch hi baar ATM me gaya hun cash ke liye.
This is old news now. Maybe you don't keep up with the news but India has had the most number of digital payments in a year continuously every year since the last five years(2019).
Living in Pune, I have not seen Cash for last 5 months 😂😂😂
UPI is better than other apps that are used to transfer money here's is why: 1. its an instant bank transfer so money is transferred from one bank to another and not into any wallet 2. Unlike cards there is 0 transaction fee 3. The UPI account is linked to your mobile number and it doesn't work by just OTP you have to have the sim linked to your bank account in your phone to actually use UPI. 4. You have different apps like Paytm, Phone Pay, Google Pay, etc . and as the money is sent from bank to bank doesn't matter which app you are using you will be able to do transaction with everyone
2016 technology 😅
UPI introduced in 2016, it's not new for India now...and jo data video m btaya gya h ,sahi nhi h ajj k time 10 m se 9 bande UPI use krte h .....app b Anna Indian kabi 😊
UPI is as common as chewing gum in India... Its everywhere from panwadi to malls
Logo ne sirf suna tha k PAISA BOLTA HE....we Indian actually make it happen
India 🇮🇳 ranks 1st globally in real time digital payments with 40% share.
In October of 2024, the Unified Payments Interface (UPI) in India set a new record with 16.58 billion transactions worth Rs 23.5 trillion.
The main thing which makes UPI different is, first you don't need to be on the same app. If you are using paytm and the vendor has phone pe, it doesnt matter. Thr payment will go through. UPI is not an app, but an eco system.
Secondly, UPI payments are free. There is no 2% merchant charge for vendors, unlike visa and mastercard.
5:28 why there is mosquito sound in the background
In August 2024, India clocked 10 billion transactions in one month on UPI. India accounts for 40% of the total digital transactions in the world.
3:07 UPI is like a platform similar to android that can be integrated by various third parties
It’s not a wallet but ‘Bank to bank transaction’ without any ‘platform fee’ cause the government pays for it.
For investment:- It is already a matured market... We have 15-20 transaction companies and banks... In India almost 80-90crore out of 140cr use this...
Jayegi nahi ha chuki hai.
India is on top of the world in making digital payments.
India reported the highest number of real-time transactions, accounting for 48% of the market share, followed by Brazil, China, Thailand and South Korea
Bhaijaan UPI since 2016 , 2024 me video kya dekh rahe ho 🤦🤦🤦
UPI has generated white money and it is a sign of progress ! Kudos to NDA govt for this 👏
Bhai legit not kidding
Was travelling to kolkata
Suddenly there were trans people in the train asking for money which is kinda usual in india
The scary thing was i had no cash coz apparently im diagnosed with extreme case of cash naa leke chalo bimari
Meri gaand phatt gyi bhai .... coz they do be getting touchy n all when you dont give them money .
She came near me , i said cash naayi .
Bro she legit pulled out a QR card out of her blouse ..... not kidding
And said dhana de lo (meaning - darling de naa ) .
"cuz they do be getting touchy". hahaha a 💀💀
@@PakistaniReacts well yeah they do, and it should be considered inappropriate to touch people without permission but then people say 'they are oppressed so its ok'. Yeah... they are, which is sad, but that doesnt justify being touchy y'know.
Karachi me to phone bhi cheen jayega😂.. that came from inside😂😂
India's digital transaction has been 89.5 million. India is on top. After India, Brazil is at number two r with 29.2 million, China 17.6 million, Thailand 16.5 million and South Korea is at number four with 8 million.1
If there's one big innovation or a cultural change happen in India in a decade or so, it has to be the digital payment, you'll find the qr literally everywhere, it's like 2 step process only, hence very easy and you'll find yourself in problems if your wallet get stolen, now thats not the thing, and you can shut down your account in minutes as well if your mobile gets stolen. Now different countries are implementing upi as well, like Bhutan, UAE, Malaysia, Singapore, Nepal, Oman, Qatar, Russia, France, Sri Lanka, Mauritius, United Kingdom, etc.
Bro upi bhot bawal cheez he !
5:14
And password to baad ki baat he
Agar bank account se register sim mobile me nai hoga to
To payment app transaction process hi nai krne degi !
(If my account is fully logged in with the payment apps but there is different sim in my mobile . payment app process hi nai krne degi )
You didn't listen to it carefully she said 8.7 million merchants (not people)using a ptm sound box. India has approximately 350 million active UPi users.
Moreover, India accounts for 46 % of all digital payments in the world.
I Dont even remember when was the last time I had cash in my pocket ,but roughly its 6 year i dint deal in cash with anyone. Many factor to promote UPI was demonetization of big currency plus the cheap internet price in India supported UPI in the best possible way. Kudos to Jio that end the market for foreign telecommunication service provider with the cheapest internet in the world
at this point i actually avoid cash and the hassle of taking change and calculations upi is so convineint im addicted to it hahahah
Bilateral Cross- border now accepted in Nepal.
Was there in Nepal recently and they accept UPI.
Surprisingly even they were digitalised to larger extent (but not as much as in India), with their own eco-system of software backing.
Apparently the 2 nations worked on integrating India's UPI and Nepal's phone-pay systems....
Things you learn from travel.
Watch a video of Uzair Yunus on his experience of digital infrastructure in India. He is an economist hailing from Karachi, Pakistan who visited India last year.
it also works in some other countries too with gov tie up , they are planning on expanding it . even nri's can send money via this now
And interestingly the speaker is available in most of the regional languages of India
I hardly went bank in last 3 years and have not used cash since last year ...all upi here...
Be it train flight markets peer to peer any bank to any bank any time.
We in india have google pay and even whatsapp pay while chatting on WhatsApp you can even pay to same person.
Pakistan will have this UPI after 100 years from now😂
Upi is one of the rarest things in recent india I'm proud of, i was literally shocked when i first found out that this is our invention
Trust me YOU'VE NEVER USED ANYTHING LIKE UPI, even in the US.
UPI stands fot Unified Payment Interface, it's a government infrastructure for bank transafers.
The revolutionary things about UPI are that it enables direct bank to bank transfer without money going to any intermediary and zero transaction fees.
There's a reason why businesses don't accept Venmo in US because there are transaction costs associated to it.
All these speakers are innovations above UPI, they're NOT UPI.
UPI used everywhere also in spa massage center 😂😂
Ashlil hai aap
Kahan tak chala Gaya re
The biggest usp of upi is that it is direct link to your bank account you can pay to any app QR from any app. and it's source code is free to any provider by government. Even you can develop your own app by adding your own plugin.
It is now latest over 10 years old🤣
You have a bank account then you have a upi , you send money anywhere anyone anytime , be it vendors or individual you can scan qr or enter mobile number , just scan enter amount hit pin and done within 30 second 👍
The million number was businessmen who use the speaker technology. The actual overall UPI user base is 400 million + .
Aaj ke time pe almost har jagah upi payment chhoti se chhoti jagah pe rehta hai it's really good panipuri ke thele se bade bade mall me har jagh cash to rakhna band hi kar diya hai ab
India leads the world in digital transactions, with over 40% of payments being made digitally.
Ye to sabhi ke pass h india ke kone kone me chhote chhote gaon me. Jo bhi smartphone use karta h un sabhi ke pass h. 16 saal ke bachhe bhi use karte h. CHINA & USA india ke close bhi nhi h digital payment me.
Not only for businesses, it's also for public to public also
Bro one thing that this video missed as to how UPI is different from other online payment Apps is that there is no Middle banker thus no transaction cost. This is the reason why New Zealand and other foriegn delegates when visiting india are amazed by this and want to adopt this tech..😊
But UPI does not increase our Bank Balance, Our middle class is suffering a lot
Agaye sympathy lene
@Sumit_Girhe I am talking about majority of Indians, Majority of Indians are middle class who are suffering. By the way I am an Officer in public sector. Mujhe sympathy ki jarurat nhi.
I haven't even seen the currency for a while now...its all digital in India. Last few years se zero rupees in my wallet, only CC or UPI. Ab to shagun bhi UPI se ho raha hai😂
but it's a double edge sword as just like buy now pay later scheme, customer doesnot know his actual expenses because hard cash kharch nahi ho raha. 1 ya 2 INR ke liye bhi upi use ho raha hai 😂
Bro urs logic is totally dumb, everybody track their payment history
If you have a bank account,you can use it very easily
Mera graduation 3 mahine pehle khatam hua,u can't believe ki mujhe hosteling ke liye poore paise ghar se UPI se aate thhe or main ek v rupya cash kharch nai krta thha sara paisa online payment hi krta thha... that's the power of my New India's innovation "UPI"...THANKS TO DIGITAL INDIA THANKS TO OUR PM SHRI NARENDRA MODI JI ❤️
UPI now works in many other countries. Problem bas yeh hai ki un countries mein penetration kam hai digital payments ka. Warna Indians ke liye foreign exchange ka issue bhi khatam.
I have almost stopped carrying wallet in metro cities like Bangalore for last 3 years. I havent seen a single shop/vendor here who doesnt accept UPI for payment.
BRICS already accepted UPI, working on final phase.
Bkl iski ek hie problem hain khali bank acc main se paise kabhi khtm hojate pata hie nhi chalta nai toh sallo se yehi use kr rhe hain 😂😂
There are 350 million active users of UPI and more than 600 banks are participating with UPI and 77 mobile apps like Google pay, phone pay, Paytm, WhatsApp pay, amazon pay, etc...
password leak also not big deal as upi is only link with mobile number its not like net banking its like sms base service in backend. when you open upi account it varify you mobile number. then you have to select bank and enter you debit card details for 1st time initiat app. if you switch phone you need to repeat this process. also most app have 2 layers 1 is app lock for payment apps 2nd is upi pin so mostly if even someone know your upi pin its hard to access app. why this is different ? because this is link with bank account so there are no mediators to hold you payment its go direct bank to bank.
This isn't zelle or venmo. UPI is an infrastructure that allows direct transfers to the bank, which isn't really available elsewhere in the world not with such seamlessness. Also UPI is run as a public good by the government
India is in 2050 and Pakistan still in 790 AD😂
main to 4 saal tk use kr rha main allahabad paadna aaya hun 2 saalo se lekin abhi tak cash use hi nhi kiya hun auto walo ke paas bhi paytm hota hain kahi bhi jao sab ke paas hota hain ye
6:32 set top box 🤪😂
Yes its so easy even in villages shopkeepers using this...brilliant idea
Now Bro's glazing😭
UPI global expansion
UPI is live in seven countries, including UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, and Mauritius.
Difference between Apple Pay and UPI is that Apple pay works on nfc and rfid tech while UPI works on barcode system.
Both have its advantages and disadvantages.
15-20% of my shop's collection is through UPI.
The apps which you mentioned using in USA is totally different than UPI technology. The venmo or cashify like apps just limit the transaction from venmo to venmo or cashify to cashify only, also the money transaction doesn't happen directly from bank account to bank account , instead you got to load into the venmo wallet and then send in the venmo wallet of other user. This is where UPI is different , first, its interoperable among different payment apps and second, the transaction happens directly from bank account to bank account irrespective of which bank account you are using. This technology is still yet to arrive in USA.
Implementation is a bigger achievement... And india has now biggest electronic transactions in the world... I guess 10 times China... So it's a big achievement...
I am currently in US
But hands down digitization me we are way way way ahead of western countries...
I used to carry my phone and that's it..
I went India after 4 years in 2022 and to it surprised me when I paid in a pharmacy the sound came that the amount is being paid.
I already used paytm before moving to UK but this sound box was new for me.
The biggest advantage of UPI which americans fintech will struggle with is interoperability at zero cost.
They were mulling over the idea at google but american banks is a lobby you dont mess with.
Bro u r living and talk about 5 years ago, what indian people thing. But nowadays upi used more than 10cr or 100 million people only in india. Singapore, uae, france etc country used indias upi technology.
We r using since 2017 ...😅
For past 2 years I haven't used cash in India
Bro come to India. You’ll feel like home
I use UPI to make payment to sabziwala , doodhwala , chemist , grocer --- UPI is a big boon .
Almost 8 to 10 yrs hogaye Faroooqqeeee bhai
These are not digital wallets... Money is directly transferred from bank account to bank account without any changes...
India is the only country jaha company decide nahi karti k unko kya karna hai ya badi se badi company ko public ki demand k hisab se chalna padta hai
This is super technology. It produce link between adhar, bank account and mobile number. It is super fast when i was in west my money transfer in indian faster than my local bank account.
Hain ? Ye ab pata chal rha h logo ko humto soch rahe the ye technology purani ho gayi😂😂😂😂4 saal ho gaye bhai 😂😂
Hu boht tarreeke pe hain technology aur payments ke mamle mei
Paytm launched their IPO( first time when a stock gets listed ) at a very high valuation of around 2100 and it fell down to 500 in sometime.
UPI is common nowadays that if any vendor don’t have it then people avoid to go there or don’t buy any stuff
It is not about new ...it is about accepting the new thing in country like India....where simple chai vendor aur panipuri wala also accepting payment via upi
Bro Phonepe uses Amitabh Bacchan's Voice in their Sound Boxes and it sounds so funny!!! Deviyo aur Sajjano Phonepe par ___ raashi prapt ho gaye hai. 🤣🤣🤣
The last time I withdrew cash using ATM was in early 2020. Haven’t had the need to have cash thereafter. Moved digital completely post Covid. It’s so ingrained in India now, that I will be surprised if a vendor or service provider does not have a scanner for payment.