back to article Google to bring India’s Unified Payments Interface to the world

Google has decided to bring India’s Unified Payments Interface to the world. The Interface (UPI) was created by India’s government and allows individuals to use a single app to make peer-to-peer payments to or from multiple bank accounts. Third parties can include UPI in their own payment systems or apps, with payments flowing …

  1. Neil Barnes Silver badge

    “reducing dependence on conventional money transfer channels.”

    And yet I somehow feel that exchange rates will _still_ remain at 2.75% below the published exchange rates...

  2. fuzzie
    Big Brother

    X Envy?

    Is this Google feeling like it's being left out of the payments gold rush?

    There are

    * X claiming it's going to become the fintech for all

    * Meta's aborted Diem attempt, yet MarketPlace and Facebook Pay

    * WhatsApp elbowing into b2c and wanting to (also) become WeChat for the West

    Great for UPI, but it seems like a bad idea to try shoehorn one solution across the globe. Though, to be honest, that didn't stop Google doing that with RCS. Several countries already have very successful digital payment platforms. Or is this another opportunity for Google to get their eyes on all the payment meta data flying about, giving them a high resolution picture of all Joe and Jane Bloggs' financial and commercial activity.

    1. Dinanziame Silver badge

      Re: X Envy?

      Google has been in payments for a lot longer than X or Meta — They started about at the same time as Apple Pay, though with varying success due to the fragmented nature of Android. They've also created a dozen different apps to confuse users. India is one of the countries where they have been particularly successful and they've tried expanding on that for some time.

  3. Tron Silver badge

    PayPal became the default v.1.0 of this courtesy of ebay.

    UPI is interesting. Western governments could have done this, but were very slow and hate cross-border anything to be easy or peer-to-peer. Their control freak mentality may have cost them a very big prize - a globalised, universal e-currency.

    UPI could go global with Google's push, but they need to avoid the Google Pay/Apple Pay blind alley. It needs to be detached from these to work best. Integrate THEM into IT rather than the other way around.

    This could have happened years ago if Japan wasn't so insular - we would all be using Suica.

    Google could do this very well, but they could just as easily mess it up and kill it. GAFA operates in such an insular bubble that it now fails more than it wins (Google Plus, Metaverse, MS phones etc).

  4. rmacd

    To be fair, for anyone that has used UPI, you wonder why it can't work elsewhere.

    IIRC also has a payment gateway that you could purchase IRCTC tickets, bus tickets etc for, which made it easy (as a Westerner) to travel around and not be too worried about money going missing / cards being skimmed. I used my (actual) credit card fewer than ten times over the course of a month.

    Whether the same credit protection laws will apply, we wait to see.

    1. sketharaman

      It won't. Not only UPI, no A2A RTP offers the same level of fraud protection as credit card. And that's a feature, not a bug.

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