Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

UPI Payments: 10B transactions a month done, next stop 100B

bqprime.com

Post reply on HN
Print view View original

281–290 of 399 posts

Re: UPI Payments: 10B transactions a month done, next stop 100B

#281

Post by 2devnull »

gruez wrote: post #213
Brajeshwar wrote: post #193

I’ve been using UPI since its very early days when it used to fail quite often. UPI is still one of the best things to happen in the financial scene in India. However, these days, personally, I’m trying to reduce it to either known people, or established institutions. I wish there is another layer of tokenization when one pays via UPI, like how Apple Pay does. I wish that the transaction is obfuscated and the phone n…

>There is a scam going on in India. Random females, who are either naked or scantily clothed, will call up on WhatsApp Video. If you pick up the call, say while in the bathroom and not fully clothed, they will take screenshots and threaten you that they will make that picture “viral” to extort money. This is baffling. First, how much % of the day do you spend naked? 1-2%? So the success rate of any given call is goin…

1-2%?! Do you sleep in your clothes?

And while many of us don’t by habit take video calls from strangers when we are disrobed, at scale in India it’s sure to happen.

Re: UPI Payments: 10B transactions a month done, next stop 100B

#282

Post by andai »

notpushkin wrote: post #261
Brajeshwar wrote: post #237

Earlier quoted context omitted.

The screenshot is likely the precursor the the video they record since the call got established. For most non-tech, and generations prior to us, would be startled, and likely to act in a haste to avoid further embarrassment. Let's say they have a success rate of less than 10% (1 in 10 calls), it is worth their time sitting in cabin somewhere in a town in India earning ₹25,000 a month working for an "Support Call Cent…

> Register a company I think that works everywhere, not just in India. I'm getting spam to my Estonian company's and my Russian sole proprietorship's email addresses at least every week.

Same, but it's all from India!

Re: UPI Payments: 10B transactions a month done, next stop 100B

#283

Post by crop_rotation »

vinay_ys wrote: post #234
crop_rotation wrote: post #209

Earlier quoted context omitted.

Using ICICI bank iMobile you can create a random UPI id totally unrelated to your phone number I agree with the problems you mention, and in general there is an increasing trend of taking phone numbers of customers in India, e.g. once at a Nike store, I was told the purchase couldn't be complete without the phone number.

I refuse to give phone numbers and usually the cashier will enter their own fake phone number to let the system proceed further. Some shops like decathlon tried to force us to install their app, create an account and then scan and pay through that – at the cashier counter. I just left the entire shopping cart there and walked out without purchasing. Such crazy things do happen but those companies will learn the lesso…

I do the same but in this case I had already made the payment and they refused to give me an invoice without a contact number, and I didn't have any interest in a confrontation. If I had not made a payment I would have simply walked out.

Re: UPI Payments: 10B transactions a month done, next stop 100B

#284

Post by Indian_in_US »

programmer_dude wrote: post #109
kmlx wrote: post #96

Earlier quoted context omitted.

a lot more seamless. you just tap your credit card and that’s it.

This exists in India too. But people don't use it. Why take on debt if you don't need to? UPI is directly connected to your bank account. It does not go through VISA, Mastercard or whatever.

I’ve used credit card for more than 10 years and I’ve never paid any interest in those 10 years. If you pay your bill in full every month then there’s no interest charged.

Re: UPI Payments: 10B transactions a month done, next stop 100B

#285

Post by Leherenn »

Tijdreiziger wrote: post #267
eddtests wrote: post #176

Earlier quoted context omitted.

When I moved to Sweden I had the same issues because of a dependency on Swish and BankID (and personal ID numbers). It can be a real pain for things when you’re staying a little longer than a weekend and want to go to a gym for example. I went to one cafe where I literally had no way to pay as a foreigner

I lived in Sweden for 6 months in 2018 and didn’t have any such problems. My Dutch Maestro debit card worked in all shops and cafés I visited, and online I was usually able to use a MasterCard. Personnummer was really only required for things like phone plans and store loyalty cards, which you don’t really need. I just used EU roaming on my Dutch SIM, but if you’re non-EU I believe you can get PAYG/prepaid SIMs witho…

I don't know about Sweden in particular, but things have moved very quickly in this space, especially since Covid. It's very common that things that used to be cash only (food trucks, car parks, ...) have moved to $local_system since then.

Re: UPI Payments: 10B transactions a month done, next stop 100B

#286

Post by crop_rotation »

achow wrote: post #277
Brajeshwar wrote: post #193

I’ve been using UPI since its very early days when it used to fail quite often. UPI is still one of the best things to happen in the financial scene in India. However, these days, personally, I’m trying to reduce it to either known people, or established institutions. I wish there is another layer of tokenization when one pays via UPI, like how Apple Pay does. I wish that the transaction is obfuscated and the phone n…

> You pay for a nice hot cup of ₹10 Chai on the streets but then you got a phone call later on - naively to upsell something.. Not sure what is this about. Everyone pays using QR Code. No personal information like phone numbers are passed on to the merchant.

Paying via QR code is irrelevant, the receiver will see the UPI id you paid via, and 99.9% UPI ids are phone@. The QR code just is a shortcut to typing the UPI id.

Re: UPI Payments: 10B transactions a month done, next stop 100B

#287

Post by Indian_in_US »

programmer_dude wrote: post #236
mkl95 wrote: post #231

Earlier quoted context omitted.

I don't know about other areas, but in the West the overlap between credit card users and people who can get a decent loan at a <10% interest rate is very high. Which is why for most credit card users, credit is a no go if they are not paying it back quickly. UPI counterpart's use case is to send a bit of money to your friend when you share a meal etc.

You have to remember to pay back your credit card debt before the clock runs out. Once you make a UPI payment the transaction ends there (because the money is debited from your bank account and you are not taking on a conditional loan). You don't have to remember to pay the UPI company anything after the fact. I hope this explains how UPI is different from credit cards.

I don’t remember when was the last time I’ve paid my credit card, I’ve set it on auto pay. Plus I accumulate enough points at the end of the year for one way trip to India.

Re: UPI Payments: 10B transactions a month done, next stop 100B

#288

Post by tecoholic »

Brajeshwar wrote: post #193

I’ve been using UPI since its very early days when it used to fail quite often. UPI is still one of the best things to happen in the financial scene in India. However, these days, personally, I’m trying to reduce it to either known people, or established institutions. I wish there is another layer of tokenization when one pays via UPI, like how Apple Pay does. I wish that the transaction is obfuscated and the phone n…

I withheld using UPI through the pandemic and a long while after that because of the no. of fraud cases I kept reading about and my reservations about UPI’s origins. But gave in and got in after moving to a new city and getting stuck in multiple places for the want of 5/10 rupees in change that somehow nobody seemed to had.

I mostly just use it my grocery store and vegetable store or in those no-change situations. Yet, in the last week alone I have blocked at least 3 WhatsApp chats from unknown numbers about offers, business deals, one even very friendly female hi.

Now I know from where

Re: UPI Payments: 10B transactions a month done, next stop 100B

#289

Post by user3939382 »

mattigames wrote: post #269
pcthrowaway wrote: post #228

Earlier quoted context omitted.

> Just go to the money exchange counters and enquire about this. Airport information desk should help you as well. > You can get a local prepaid phone number sim at the airport. Worth noting, do all this before you leave the airport. Assuming you land in Delhi, once you leave the airport there's no way to get back in unless you have flight information to show This turned into a pretty big problem for me on my first t…

Yeah no, it seems likethe best idea it's to not go to India at all and avoid all that trouble.

Riiight.. there’s a problem with money exchange at the airport so the solution is to completely write off an entire subcontinent that’s the home of one of the oldest, richest human cultures.

Re: UPI Payments: 10B transactions a month done, next stop 100B

#290

Post by folmar »

Tijdreiziger wrote: post #267
eddtests wrote: post #176

Earlier quoted context omitted.

When I moved to Sweden I had the same issues because of a dependency on Swish and BankID (and personal ID numbers). It can be a real pain for things when you’re staying a little longer than a weekend and want to go to a gym for example. I went to one cafe where I literally had no way to pay as a foreigner

I lived in Sweden for 6 months in 2018 and didn’t have any such problems. My Dutch Maestro debit card worked in all shops and cafés I visited, and online I was usually able to use a MasterCard. Personnummer was really only required for things like phone plans and store loyalty cards, which you don’t really need. I just used EU roaming on my Dutch SIM, but if you’re non-EU I believe you can get PAYG/prepaid SIMs witho…

That's great for you, but most countries don't have Maestro so no luck in Sweden. And no, Mastercard does not work nearly as well.
Post reply on HN