UPI: Anatomy of a Payment Transaction

Post by pixelatedindex » Mon, Jul 13, 2026, 6:59 PM UTC

fakedang wrote: post #130

pixelatedindex wrote: post #121

Earlier quoted context omitted.

Funny story… I was on a trip to Europe (Poland) using my US credit card that didn’t have tap to pay or chip and pin (I believe it was swipe only) and the store literally did not have a way to accept payment and I had no cash on hand. They were nice enough and gave the pastry for free because they tried everything to charge the card but it didn’t work. They were embarrassed about the whole thing and were just like… pl…

I'm not sure whether this is fully correct - most card machines do have a way to accept swiping, but I think the store did not know of it (because no one uses it in Europe). Perhaps if you remember the provider, I could check it, but most machines still accept swiping, which is innocuously placed on the side of the machine. That being said, the US is a dinosaur when it comes to payments.

Post by EnnEmmEss » Tue, Jul 14, 2026, 12:00 PM UTC

ashkulz wrote: post #48

satvikpendem wrote: post #42

Earlier quoted context omitted.

Most places will not have change so you need to carry exact cash change all the time. And many are indeed stopping using cards and switching to UPI as the fees are much less, unless they are particularly foreigner friendly, like a hotel in a tier 1 city.

In fact, card acceptance has gone _up_ in my experience. Unless you're using a very small shop which just has a QR code, most businesses now use a POS which supports a lot of payment methods including cards. I agree that a lot of businesses now actively don't manage cash as they used to earlier... it's very difficult to get low-value notes as the central bank seems to be slowly reducing the supply by not printing as…

Post by john-frandsen » Wed, Jul 15, 2026, 11:22 PM UTC

Post by faust201 » Thu, Jul 23, 2026, 7:55 AM UTC

inigyou wrote: post #96

faust201 wrote: post #69

Earlier quoted context omitted.

KYC and centralisation means govt will promise your money is there. These are essential for dev country or 3rd world. Even with so much kyc often there are fraud. This has minimised fraud. If you are looking for RMS style freedom etc then look elsewhere. This is not Iceland or Nordic. One another overlooked issue is India was the largest printer of currency. Until UPI etc modernisation - lots of torn currency - usual…

We've seen basically every country in the world make promises and break them. Right now your money is there, but give it less than 10 years until someone is decided to be a terrorist based on their transaction pattern, and all of their money is taken away.