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Jayant Mundhra
•
Dexter Capital Advisors • 1y
India beating Brazil to build a UPI for Peru is big for 3 reasons! 🇮🇳🙌 This is such a big and remarkable event. But, it’s sad we aren’t talking much about it. Let’s change that, and learn all about it! .. 1️⃣ Brazil also has a UPI-like real-time superfast payments system. -> This is called Pix, and was launched in November 2020, almost 5 years after UPI was launched -> But, like UPI, Pix sky-rocketed and today commands a more or less equivalent stature when it comes to capabilities and innovation in the payments space -> In fact, internationally, there have been many debates discussing which of the two is better In that context, Peru choosing India over Brazil for its own system is a big win. .. 2️⃣ Peru and Brazil are neighbours. -> They are culturally similar and have a lot more going on between them, than between India and Peru -> In fact, Peru also depends on Brazil for a lot of things, and thus by all such standards, Peru was widely expected to go for Pix like system over UPI In that perspective, UPI coming out on top only sweetens the win! .. 3️⃣ India has so far taken UPI to about 10 countries. -> But, that’s been via inter-linking UPI with some payment platforms of the host countries. -> India has not built a system to take place of the existing systems in any country. The Peru collaboration is the first such case! .. Yes, one could say, Peru is a very small and poor nation. But, a product which runs well for a poor Latam nation, will also work well for a massive set of Middle-eastern, African and South East Asian nations. Thus, the opportunity is a massive one. What do you think?
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