The UPI Of 2016 And Today Are Completely Different: NPCI's ASBE
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Delhi
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Chandigarh
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Hyderabad
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Apr 7, 2025 | Page No.: 1 | Position: Top Center | Source: Ajinkya Kawale | Sq Cm: 425 | AVE: 210436 | PR Value: 1052180
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COMPANIES THE UPI OF 2016 AND TODAYARE _COMPLETELY DIFFERENT NPCI S ASB The UPI of 2016 and today are completely different Unified Payments Interface UPI has expanded rapidly with new use cases being added to the real-time payments system intermittent technical issues that profit We aim to create resilience and A record 20 firms got UPI approval DILIPASBE managing director and chief executive officer of the National Payments Corporation of India NPCI speaks with affected UPI success rates for about an ensure uptime which requires large in 2024 Is the licensing process Ajinkya Kawale in Mumbai a bout the company s next phase of growth Edited excerpts hour The issue was identified and infrastructure investments We ve built getting easier resolved We ve since stabilised the two data centres in Hyderabad and Several factors are driving TPAP interest What are NPCI s big bets right now merchants Four to five more countries They re designed to avoid multiple hops system done a root cause analysis and Chennai a third one is ready and we re MDR is zero and the government is The primary focus remains on growing are exploring our tech stack for small-ticket transactions A typical replaced affected hardware to avoid considering a fourth offering incentives UPI as an UPI which has 10x potential Currently UPI transaction takes about 10 hops but recurrence We regret the We settle large daily values and main- infrastructure layer gives access to 450 400-450 million users use it monthly How different is UPI s next that can be optimised for smaller inconvenience and are committed to tain a settlement guarantee fund and risk million users If you re launching a but it can grow to over a billion Expand- growth phase amounts Banks have been committed transparency stronger safeguards and reserves We have offices in Hyderabad credit insurance or investment app UPI ing the user and merchant base will UPI s true potential is 100 -150 billion The RBI and government monitor NPCI a seamless experience and Chennai but not in Mumbai As we cuts acquisition costs dramatically require investment and new use cases transactions a month Reaching the next and banks regularly When you re scale we ve reduced NPCI s UPI fees It s democratising user acquisition Second we want to expand access to 600 million users will need hand- planning for lOx growth How can banks grow UPI volumes on almost every year to pass economies of like Aadhaar did with know-your- formal credit collaboratively and holding and initial incentives until it constant innovation is their applications apps scale back to the ecosystem customer More players will increase responsibly With Reserve Bank of India becomes habitual To build trust we ve necessary The UPI of Banks are interested but they re at competition A few TPAPs were licensed RBI and government support the run digital payment safety campaigns 2016 and today are different stages of tech readiness Some Were the third-party app provider in the fourth quarter of 2024-25 we Credit Line on UPI can grow the market over the past year UPI hasn t matured yet completely SBI ICICI HDFC Axis are making TPAP approvals in line with your 30 expect them to go live later this year UPI has created a strong digital footprint realising its full potential needs different it s an progress Yes Bank has launched a new per cent mcap goal for end-2024 Now we need tools like Credit ongoing innovation evolutionary UPI app There are efforts but more are We ve extended the deadline by two BHIM Bharat Interface for Money has Line on UPI for low-ticket investment and collaboration process needed years Efforts are on to get more players been hived off Was it due to a conflict of high-frequency credit between banks and financial involved A balanced market share is the interest Would NPCI consider more unlike credit cards technology companies What caused the NPCI has a surplus of t1 100 crore How goal but it s not easy We hope newer such hive-offs Third we re investing in March 26 outage is this allocated players invest gain share and offer There are some considerations but I can t technology tech artificial What s NPCI s position on the That day NPCI had That s a board decision NPCI is a not-for-different use cases It s possible but comment on future hive-offs yet BHIM intelligence AI blockchain DILIPASBE merchant discount rate MDR slower than expected has been part of NPCI for seven-eight and digital currency AI helps MD CEO NPCI discussions As players grow size and legacy can years We don t see it as a competitor us assess fraud risks in real It s under discussion with the become hurdles Smaller players can it s a collaboration BHIM is viewed as the time We ve kept reported fraud below 1 government and RBI gg UPI S TRUE POTENTIAL IS innovate more and build features for country s app The goal isn t to grow 50- basis point of UPI value which is 100-150 BN TRANSACTIONSA MONTH niche segments Two players are 100 per cent of UPI volumes but to ensure reasonable NPCI has introduced Lite and Lite X benefiting from network effects I don t a sovereign alternative We hived it off to Fourth globalisation Cross-border Was this in response to bank servers REACHING THE NEXT600 MN USERS know how long that will last We re maintain an arm s-length relationship integration needs regulatory nearing capacity We have seen WILL NEED HAND-HOLDING seeing movement from Cred Navi between NPCI and BHIM cooperation We ve made early progress three outages so far super money and Paytm There are signs in seven countries and are enabling Lite and Lite X are the same product that things might shift soon More on business-standard conz