Anand Mahindra Reacts to India’s ‘Last Tea Shop’ Joining Digital Payments Ecosystem See the post | Tech US News


India’s digital payment ecosystem is a revolution and a case study for the entire world. Several countries have started adopting UPI for person-to-person (P2P), person-to-merchant (P2M) and cross-border payments such as Nepal, Singapore, Bhutan, Japan, Europe, Philippines, Vietnam, Cambodia, Hong Kong. , Taiwan, South Korea, etc.

On the domestic front as well, the United Payments Interface (UPI) has reached large cities, small towns, towns, districts and villages. On Saturday, industrialist Anand Mahindra shared a post on Twitter that showcased the reach of the digital payment ecosystem. The Twitter post shared a photo of a woman with a UPI QR code scanner in her tea shop. This photo was taken in Mana village, the last village in India at an altitude of 10,500 feet in Uttarakhand.

Anand Mahendra retweeted the picture and wrote, “A picture is worth a thousand words”. Mahindra Group Chairman expressed happiness and praised India’s digital payment ecosystem. He wrote, “This captures the fascinating scope and scale of India’s digital payments ecosystem. Jai Ho!”. He also added three appreciation emojis.

Mana village is situated on the banks of river Saraswati and is about 5 km from Badrinath. The last Indian village is 24 km from the Indo-China border.

According to the latest data released by the National Payments Corporation of India (NPCI), transactions through UPI grew by 7.7% to Rs 730 crore in October. And, the total price was higher than that 12.11 lakh crore in October.

The data itself shows that India is at the forefront of the digital payment revolution.

Recently, National Payments Corporation of India (NPCI) Managing Director and Chief Executive Dilip Asbey offered UPI AutoPay to Elon Musk to take care of monthly payments.

“Don’t worry, India has UPI AutoPay (7 million newly approved collection mandates/month) to collect every time/monthly/quarterly or annually as per your choice,” Asbe microblogging. wrote in response to Musk’s tweet, also tagging the site.

“To all complainers, please keep complaining, but it will cost USD 8,” Musk said in a tweet.

The NPCI-powered Unified Payments Interface (UPI) has been at the heart of the Indian digital payments story and has taken electronic alternatives to new heights.

Catch all business news, market news, breaking news events and latest news updates on live minute. Download Minute News app to get daily market updates.

More less


Source link

Please disable your adblocker or whitelist this site!