Shark Tank India judge Anupam Mittal has called for leveraging India’s Unified Payments Interface (UPI) to challenge global payment giants like Visa and Mastercard. In a post on X, Mittal highlighted how UPI has enabled "global-scale frictionless & costless transactions" in India. He further suggested that it is time to disrupt companies like Visa, Mastercard and even banks that charge transaction fees ranging from 2-5% on a multi-trillion dollar payment industry.
In his post, the People Group founder urged the National Payments Corporation of India (NPCI) to take action, stating, "India-tech for the world is ready. What are we waiting for?"
What Anupam Mittal said about UPI
In the post, Mittal said:
UPI has enabled global-scale frictionless & costless transactions in India. It’s time to disrupt cos like Visa & Master as well as Banks that take out 2-5% of a multi-trillion dollar pie. India-tech for the world is ready. What are we waiting for @NPCI_NPCI ?Launched in 2016, UPI has revolutionized digital payments in India with instant, low-cost transactions. It has also expanded internationally through partnerships in countries like Singapore, the UAE, and France. The statement comes as discussions grow on reducing dependence on foreign payment systems and enhancing India's global fintech presence.
NPCI’s Big change to UPI
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