Earlier quoted context omitted.
Fed now instant payments will go live in US next year. EU has similar cross country solution in work. Majority of Asia already switched or in the phase. In India, most purchases go through UPI already which is p2p without a middleman. It's tough time to be in payments and will only get worse as many custom integration with lending companies break down due to huge losses.
We only need some way to integrate those.
No payment gateway in India charges for UPI transaction too. So if similar payment system is incorporated in US, I won't expect stripe to be able to charge for it.
The only major functionality these payment gateway provide is checking if transaction went through.
They are wrappers on top of bank APIs such as federal bank.
Anyone can generate a QR code for their payment ID and request payment without needing a gateway but it's manual. Most street vendors confirm payments manually since it happens in person.
Additionally, we have other standardized framework for requesting account information from banks such as RBI account aggregator framework. So you don't need something like plaid to fetch bank statements from all your bank accounts.
Recurring payments are also setup on the bank end as a mandate.
Yes, you will end up using an off the shelf solution but you are not at the mercy of them if you accept UPI only.