301–310 of 399 posts
Earlier quoted context omitted.
If that road side vendor doesn't have access to a phone, how does she know the payment was made?
they usually have a sound box, which will announce if a payment is made to their UPI id. Related - https://restofworld.org/2023/india-sound-boxes-paytm-phonepe...
Earlier quoted context omitted.
Minor correction - prior to UPI, transaction either happened via cash OR didn’t happen at all. I think the hidden value of UPI is that it makes doing business easier which is of huge value. People sitting on money has never helped any economy…especially at the level that UPI operates - ie enabling petty spending greases the wheels of the economy and lifts people out of poverty. For example, say I want to buy coconut…
> ie enabling petty spending greases the wheels of the economy and lifts people out of poverty. The lack of "petty spending" is not the reason India has a poverty problem.
Therefore, anything which loosens the purse strings should lead to more business activity.
More business activity will lead to better resource allocation and hiring, more auxiliary services cropping up to support novel needs.
All this will lead to fewer poor people.
Now, reverse the arrow. If it were to become harder and harder to spend money, more and more people would fall into poverty.
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…
Damn. UPI shares your phone number? Instant PLONK. But I have been hearing raves about how great it is, from my Indian friends.
Earlier quoted context omitted.
The receiver don't have to be naked. So, here is the story that got me to look into this a bit to learn what was happening. Father-in-law don't keep all the phone numbers updated, so, he picks up all calls -- mostly video calls from his kids and grandkids. One day, he picked up a WhatsApp Video, where the woman on the other end was pretty much naked. Father-in-law was in the couch and gave the phone to my wife, askin…
If all it takes is a screenshot, why not just photoshop it? Why do you need to call at all? I know there are a lot of scam calls trying to get payment credentials or get people to make payments but this MO sounds quite implausible.
I was in India earlier this year, and found there was no way (and I spent hours trying) for a foreigner to get access to the UPI system. This meant: 1) There were some cashless fast food outlets that I couldn't eat at 2) There was no way for me to book an intercity bus ticket I eventually managed to get a bus ticket by sweet-talking someone in a shop to use their personal UPI account in exchange for cash. I fear ther…
Earlier quoted context omitted.
Can’t wait to hand over my passport and drivers license to some random person after security wearing a uniform and holding an iPad after I get off an 8 hour red-eye. Surely nothing can go wrong.
It's the same as the kiosks to get a local SIM card which also often require ID. Also optional. > drivers license A driver's license is rarely accepted as a valid ID document outside of the US which rarely has anything better.
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. Ye…
Earlier quoted context omitted.
why didn’t these countries go the NFC route instead of QR codes?
Some sellers don't have a smartphone/screen and rely on the honesty of the user (they just ask to show them the receipt). I don't know how they manage their wallet though (maybe their kid or a friend?).
Earlier quoted context omitted.
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.
Earlier quoted context omitted.
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.
https://www.swedbank.se/en/private/cards-and-payment/debit-c...
https://www.handelsbanken.se/en/personal/accounts-cards-and-...
https://www.nordea.se/privat/produkter/kreditkort-bankkort/n...