TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Celebration of Faith and Freedom: Ganeshotsav Named Maharashtra’s Official Festival

    Century-Old Tradition Gets Official Honour: Ganeshotsav as Maharashtra’s State Festival

    CM Nayab Singh Saini Issues Strong Directives to Police officials

    Adopt Zero Tolerance Towards Crime: Haryana CM Nayab Saini Issues Strong Directives to Police

    Sonia at 78: Will Congress Apply Bhagwat’s Advice Internally?

    Elated by Mohan Bhagwat’s Statement, will Congress leaders now ask 78-year-old Sonia Gandhi to retire?

    No Appointment, No Respect: Siddaramaiah Returns Empty-Handed, CM Exit Looms

    Rahul Refuses to Meet Siddaramaiah, Congress Signals Leadership Shift in Karnataka?

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Namibia Bets on Indian Tech: How UPI Will Revolutionise Its Economy and Boost India's Global Digital Clout

    Namibia Bets on Indian Tech: How UPI Will Revolutionise Its Economy and Boost India’s Global Digital Clout

    Opportunities for Youth in a Changing India

    Opportunities for Youth in a Changing India: Global Investment Expert Manu Seth Shares Insights

    Simple Legal Steps to Protect Your Brand in India

    Simple Legal Steps to Protect Your Brand in India

    Indian-Origin Tesla CFO Vaibhav Taneja Appointed Treasurer of Elon Musk’s 'America Party'

    Indian-Origin Tesla CFO Vaibhav Taneja Selected Treasurer of Elon Musk’s ‘America Party’

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Modi Govt Targets Strategic Dams Near Pakistan, Seeks ₹3,119 Crore to Speed Kwar Project

    Modi Govt Targets Strategic Dams Near Pakistan, Seeks ₹3,119 Crore to Speed Kwar Project

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    Decoy That Changed the Game: How India's AI-Powered X-Guard Neutralised Pakistani Air Threats

    Rafale Decoy Confused Pakistan Jets During Operation Sindoor, Claims US Veteran Pilot

    India Successfully Tests Indigenous Anti-Submarine Rocket ERASR

    India Successfully Tests Indigenous Anti-Submarine Rocket ERASR, Boosting Navy’s Underwater Capabilities

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Kapil Sharma’s Café Targeted by Suspected Khalistani Terrorists

    Kapil Sharma’s Café Targeted by Khalistani Terrorists: Canada’s Dangerous Embrace of Radical Elements Exposed

    Modi Govt Targets Strategic Dams Near Pakistan, Seeks ₹3,119 Crore to Speed Kwar Project

    Modi Govt Targets Strategic Dams Near Pakistan, Seeks ₹3,119 Crore to Speed Kwar Project

    Taliban Blocks 45-Year-Old Man from Taking 6-Year-Old Wife

    Taliban Blocks 45-Year-Old Man from Taking 6-Year-Old Wife, Asks Him to Wait Till She’s 9

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Tirumala Tirupati Devasthanams Suspends Senior Official for Attending Church Services

    Tirumala Tirupati Devasthanams Suspends Senior Official for Attending Church Services

    The Beginning of Devotion: History of the First Kanwar Yatra

    The Beginning of Devotion: History of the First Kanwar Yatra 

    Kanwar Yatra: UP Gears Up With Full-Scale Arrangements

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    char dham yatra suspended due to bad weather

    Uttarakhand Suspends Char Dham Yatra Due to Adverse Weather, Prioritizes Pilgrim Safety

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Nova88 App Compatibility: Works Seamlessly on All Devices

    Nova88 App Compatibility: Works Seamlessly on All Devices

    Why Every Sports Team Now Has a Data Scientist

    Why Every Sports Team Now Has a Data Scientist

    Prakash Raj, Vijay Deverakonda among other Tollywood actors booked for promoting illegal betting apps

    Prakash Raj, Deverakonda, Rana Booked by ED in Betting Scam Case

    Try These 6 High-Protein Vrat-Friendly Foods to Stay Energised

    Fasting This Sawan 2025? Try These 6 High-Protein Vrat-Friendly Foods to Stay Energised

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Celebration of Faith and Freedom: Ganeshotsav Named Maharashtra’s Official Festival

    Century-Old Tradition Gets Official Honour: Ganeshotsav as Maharashtra’s State Festival

    CM Nayab Singh Saini Issues Strong Directives to Police officials

    Adopt Zero Tolerance Towards Crime: Haryana CM Nayab Saini Issues Strong Directives to Police

    Sonia at 78: Will Congress Apply Bhagwat’s Advice Internally?

    Elated by Mohan Bhagwat’s Statement, will Congress leaders now ask 78-year-old Sonia Gandhi to retire?

    No Appointment, No Respect: Siddaramaiah Returns Empty-Handed, CM Exit Looms

    Rahul Refuses to Meet Siddaramaiah, Congress Signals Leadership Shift in Karnataka?

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Namibia Bets on Indian Tech: How UPI Will Revolutionise Its Economy and Boost India's Global Digital Clout

    Namibia Bets on Indian Tech: How UPI Will Revolutionise Its Economy and Boost India’s Global Digital Clout

    Opportunities for Youth in a Changing India

    Opportunities for Youth in a Changing India: Global Investment Expert Manu Seth Shares Insights

    Simple Legal Steps to Protect Your Brand in India

    Simple Legal Steps to Protect Your Brand in India

    Indian-Origin Tesla CFO Vaibhav Taneja Appointed Treasurer of Elon Musk’s 'America Party'

    Indian-Origin Tesla CFO Vaibhav Taneja Selected Treasurer of Elon Musk’s ‘America Party’

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Modi Govt Targets Strategic Dams Near Pakistan, Seeks ₹3,119 Crore to Speed Kwar Project

    Modi Govt Targets Strategic Dams Near Pakistan, Seeks ₹3,119 Crore to Speed Kwar Project

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    Decoy That Changed the Game: How India's AI-Powered X-Guard Neutralised Pakistani Air Threats

    Rafale Decoy Confused Pakistan Jets During Operation Sindoor, Claims US Veteran Pilot

    India Successfully Tests Indigenous Anti-Submarine Rocket ERASR

    India Successfully Tests Indigenous Anti-Submarine Rocket ERASR, Boosting Navy’s Underwater Capabilities

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Kapil Sharma’s Café Targeted by Suspected Khalistani Terrorists

    Kapil Sharma’s Café Targeted by Khalistani Terrorists: Canada’s Dangerous Embrace of Radical Elements Exposed

    Modi Govt Targets Strategic Dams Near Pakistan, Seeks ₹3,119 Crore to Speed Kwar Project

    Modi Govt Targets Strategic Dams Near Pakistan, Seeks ₹3,119 Crore to Speed Kwar Project

    Taliban Blocks 45-Year-Old Man from Taking 6-Year-Old Wife

    Taliban Blocks 45-Year-Old Man from Taking 6-Year-Old Wife, Asks Him to Wait Till She’s 9

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Tirumala Tirupati Devasthanams Suspends Senior Official for Attending Church Services

    Tirumala Tirupati Devasthanams Suspends Senior Official for Attending Church Services

    The Beginning of Devotion: History of the First Kanwar Yatra

    The Beginning of Devotion: History of the First Kanwar Yatra 

    Kanwar Yatra: UP Gears Up With Full-Scale Arrangements

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    char dham yatra suspended due to bad weather

    Uttarakhand Suspends Char Dham Yatra Due to Adverse Weather, Prioritizes Pilgrim Safety

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Nova88 App Compatibility: Works Seamlessly on All Devices

    Nova88 App Compatibility: Works Seamlessly on All Devices

    Why Every Sports Team Now Has a Data Scientist

    Why Every Sports Team Now Has a Data Scientist

    Prakash Raj, Vijay Deverakonda among other Tollywood actors booked for promoting illegal betting apps

    Prakash Raj, Deverakonda, Rana Booked by ED in Betting Scam Case

    Try These 6 High-Protein Vrat-Friendly Foods to Stay Energised

    Fasting This Sawan 2025? Try These 6 High-Protein Vrat-Friendly Foods to Stay Energised

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

US Federal Reserve should replicate India’s UPI model, recommends Google

Amit Agrahari by Amit Agrahari
15 December 2019
in Opinions
UPI,
Share on FacebookShare on X

Google, the American technology behemoth led by an Indian-American, has recommended US Federal Reserve (central bank of United States, like RBI of India) to replicate United Payments Interface (UPI) model for its “new interbank 24x7x365 RTGS with integrated clearing functionality to support faster payments in the United States”.

UPI is an instant real-time payment system launched by the government of India to facilitate hassle-free digital transactions. The interface is regulated by the Reserve Bank of India and works by instantly transferring funds between two bank accounts on a mobile platform. It is an umbrella organization for all public and private retail payments in the country. 

RelatedPosts

Century-Old Tradition Gets Official Honour: Ganeshotsav as Maharashtra’s State Festival

Adopt Zero Tolerance Towards Crime: Haryana CM Nayab Saini Issues Strong Directives to Police

Elated by Mohan Bhagwat’s Statement, will Congress leaders now ask 78-year-old Sonia Gandhi to retire?

Load More
UPI, America, usa
(PC: Business Standard)

The major private players which operate on UPI are Paytm, PhonePe, Amazon Pay, and Google Pay and the public sector player is BHIM (Bharat Interface for Money) launched by PM Modi on December 30, 2016. The UPI and BHIM apps were developed by National Payments Corporation of India (NCPI) which is promoted by the country’s central bank- the Reserve Bank of India.

Google is already successfully operating Google Pay, an app supported through UPI, in India. The American company worked closely with National Payments Corporation of India (NPCI), which comes under the ambit of RBI, to develop Google Pay. “We’ve been pretty vocal that we believe the right model for driving digital payments is through partnership between banks, governments and tech companies through open and standard-based infrastructures like UPI,” said Caesar Sengupta of Google India.

UPI was rated as best Immediate Payments Interface (IMPS) rated topmost payments service in ‘Faster Payments Innovation Index’ by Fidelity National Information Services (FIS). The government made digital and card transaction fee to promote digitization of financial system in the country, and this led to digital transaction revolution in the country. 

According to Mark Isakowitz, vice president, Government Affairs and Public Policy, U.S. and Canada, Google, “First, UPI is an interbank transfer system [there are now over 140 member banks, after initially launching with 9 participating banks]. Second, it is a real-time system. Third, it is ‘open’ — meaning technology companies can build applications that help users directly manage transfers into and out of their accounts held at banks.”

Previously, many experts and committees suggested that UPI and RuPay should be taken on a global scale. The Nandan Nilekani led committee on digital payments had recommended that it was time to take UPI global. In an article published in Livemint, Rahul Matthan, a partner at Trilegal and author of ‘Privacy 3.0: Unlocking Our Data-Driven Future’ argued that UPI is world-class and it’s time to make it international. “UPI may not be decentralized but we know it works well at scale even over patchy mobile networks,” wrote Matthan.

In the pre-Modi era, the international digital transaction players like Visa, Mastercard and American Express were involved in monopolistic practices as they were the sole players. They used to charge customers an outrageous processing fee and had made card payments an elite practice. The Modi government launched country’s own digital payments system and built infrastructure to encourage digital payments.

RuPay card was created for Indian users for encouraging card-based transactions and phase out cash-based economy. Now the card is accepted in 195 countries and foreign companies and users have shown interest in RuPay. Singapore became the first foreign country to get RuPay scheme along with other facilities provided by National payments corporation of India like Unified Payments Interface (UPI) and BHIM mobile payment app. Another country which got the RuPay facility is the island nation of Maldives.

The American companies like Visa and Mastercard which behaved in a ruthless manner when the country did not have a digital payments infrastructure have now accused the government of monopolistic behaviour. Today, American central bank is itself considering replicating a technology, developed in India. This is a big win for technological prowess of the country. 

ShareTweetSend
Previous Post

Non stop beating, tear gas and FIRs – UP Police teaches how to deal with vandals

Next Post

Help us, we’re desperate – how Congress’ Bharat Bachao rally turned into Congress Bachao rally

Related Posts

India Must Not Imitate The West
Opinions

India Must Not Imitate The West

11 July 2025

India must not ape the West, whose value systems, rooted in individualism, consumerism, and cultural decay, are fragmenting their...

China triggers global supply chain crisis in critical minerals
Opinions

China Just Triggered a Global Supply Chain Crisis; Here’s Why It Could Make India a Superpower

10 July 2025

China’s recent restrictions on rare earth exports have laid bare critical weaknesses in global supply chains. Yet, as Dr....

way ahead of G7 summit
Opinions

When The Summit Became A Stage: The G7, Trump’s Exit, And Fractured World

17 June 2025

In the crisp alpine air of Kananaskis, nestled amidst the brooding Rockies of Alberta, world leaders gathered to forge...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Stalin’s DMK Faces Heat Over Brutal Custodial Killings in Tamil Nadu

Stalin’s DMK Faces Heat Over Brutal Custodial Killings in Tamil Nadu

00:08:06

Hindu girl r@ped, burned with cigarettes and forced to convert to Islam

00:03:31

Delhi’s Trump Card: Kejriwal Wants a Nobel for Surviving Politics

00:05:03

Team B of DMK? The Truth About Actor Vijay’s Party

00:07:45

Rs 15,000 cr gone? Saif Ali Khan's crown crushed by enemy property law

00:04:40
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap
MASHABLE IS A GLOBAL, MULTI-PLATFORM MEDIA AND ENTERTAINMENT COMPANY. FOR MORE QUERIES AND NEWS, CONTACT US AT info@mashablepartners.com


©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited