UPI (Unified Payment Interface) by NPCI has become the primary mode of digital money transaction from bank to bank for many. Who wouldn’t like the concept of linking all of your banks within a single app? It may be BHIM or any bank’s UPI app or even private fin-tech players like PhonePe anyone can adopt tech with the approval of two, NPCI and RBI.
We’ve already told that Scandinavian based TrueCaller has already implemented their UPI with the support of Indian bank ICICI. Followed by WhatsApp. It’s not a surprise Facebook and Google also joined the wagon to launch their own UPI-based payment solution.
Google’s CEO, Sundar Pichai hinted about this at the beginning of this year ago when commenting on Demonetization and UPI. It seems Google has finished testing its UPI enabled payment solution they built. There’s no clear data on how it is going to be. But, most probably it’s going to be an additional part of Android Pay. This is not the first time for Google building an app for India. Youtube Offline, Maps Offline firstly build for India later rolled out to every other possible country. Can’t forget Google’s collaborated project Android One, a budget phone for all.
WhatsApp recently received an ‘okay’ from RBI to start running their UPI payments. Google is just waiting for it, so the Facebook. Presumably, RBI is not worried about the technical feasibility or capacity of Google and Facebook. But other legal issues.
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