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Anonymous

Hey I am on Medial • 1y

Why is UPI not in foreign? Why couldn't any other country build something like UPI despite them having greater tech talent and a more tech-friendly government?

Mridul Das

Introvert! • 1y

Because they don't have Adhar like biometric identification system. In other countries it's extremely difficult to implement the adhar because of privacy system and many more.

Anonymous 3

Hey I am on Medial • 1y

But what’s stopping them from building all of this ?

Mridul Das

Introvert! • 1y

1. Privacy 2. Western world is hard-core capitalist, unlike we ha gov. Big corporations, banks , they don't have that. Visa, MasterCard like monopolistic companies would never allow UPI like system where they would become irrelevant. 3. Big banks and other financial institutions would never allow because it will destroy their monopoly by providing equal opportunity and rights to other banks, entire financial system is owned by the big banks because of capitalism. They have tie up with wallet apps like PayPal so..

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i was just thinking and i thought what small business owner lacking what the big one got i am not talking about money they were also small before they become what they are so like what is the key they have and they don't (i think they lack system)

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