Banks have helped facilitate seamless UPI transactions. But they are still hesitant to make large-scale investments in India’s largest payments platform. Meanwhile, digital-payment apps lapped up the opportunity and are now taking control of the UPI tech stack. Is agility of the fintech space taking precedence over banks’ cautious approach to financial transactions?
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How Indian banks gave away an opportunity called UPI, and its control, to PhonePe, and Google Pay
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How Indian banks gave away an opportunity called UPI, and its control, to PhonePe, and Google Pay
Banks have helped facilitate seamless UPI transactions. But they are still hesitant to make large-scale investments in India’s largest payments platform. Meanwhile, digital-payment apps lapped up the opportunity and are now taking control of the UPI tech stack. Is agility of the fintech space taking precedence over banks’ cautious approach to financial transactions?
Source link
Disclaimer
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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