UPI News & Updates

[Sushubh]

UPI has been such a success that they are working on UPI 2.0 which would do exactly what UPI 1.0 was aimed to do.

We plan to launch UPI 2.0 by March 2017: NPCI’s A.P. Hota - Livemint

HDFC has finally added UPI support to their app. But the app is buggy. Even if you are able to generate your VPA, it is not being accepted by other apps.

 

[v1rus]

I have 4-5 upi capable apps installed, why was axispay app started and not say pockets or PhonePe

Probably I should rephrase, there is no need of tie up because UPI specification handles the scenario and defines a solution for the exact use case.

 

[Sushubh]

i wonder how long upi operators take to add new banks to their database. hdfc vpas are not working in multiple apps apparently and not just on PhonePe.

 

[v1rus]

I have tried hard but I have found no use of UPI in the way I perform transactions.

A specification that will make credit card transactions this easier will be a lot of help.

I so wish contact less payments and andoid/Apple pay become widely accepted.

 

[Sushubh]

I only see Paytm accepted around here. No Mobikwik. No Freecharge. PhonePe has a bar code scanning feature for payments but knowing Flipkart, it would be restricted to few places in Bangalore.

 

[v1rus]

PhonePe uses bank account for payments and I prefer my Credit Cards for making all payments.

IMO, Paytm et al. require too many User Interactions before the payment can be made which I do not like.

Contact Less payment (with no pin required for smaller transactions) is great for making payments and Apple/Android pay take it to next level.

 

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[Sushubh]

It's not PhonePe which uses bank account for payment for money transfer, it's UPI. I have sent feedback that they should add support for credit cards as UPI is just a component of the app. It also offer bill payments and recharges. I doubt they would bother. But it makes perfect sense as it would enable people to pay at retail stores using their credit cards without revealing their card itself. But UPI itself is powered by bank accounts so there's that.

 

[genie]

PhonePe seems to be stuck at a premature stage of evolution



Probably Mobikwik will be ahead of all others because in addition to allowing loading the wallet with debit card, credit card, neft and even cash, they are partnering with ICICI bank to make it possible to load the wallet using UPI. And if ICICI bank also provides the virtual & physical prepaid card to Mobikwik users it will become the first all-in-one wallet.

 

[Sushubh]

I have never seen mobikwik accepted anywhere but then i rarely go out I am surprised that Paytm has not entered the upi market. I am guessing this is because they are working on launching their payment back which mean they would be able to offer their own @paytm VPAs?

 

[v1rus]

I understand it is UPI.

IMO,Credit card transaction using PhonePe or any other such app require too much interaction and therefore it is not worth it yet.

Mobikwik is accepted at CCD and BigBazaar