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Arcane

Hey, I'm on Medial • 2m

A QUICK SNAPSHOT OF HOW INDIA PAYS Let's start with UPI 1/ UPI dominates everyday transactions because it requires almost zero mental effort and well, it's free (for now). Would be interesting to see how this changes once charges are introduced. 2/ When it comes to high value spends like Education fees or booking a car, people prefer net banking or credit cards because they also need trust, not just speed. They want detailed statements, dispute resolution and the psychological comfort of institutional backing. In other sectors, the first preference is still towards UPI/mobile wallets due to speed and convenience. 3/ Digital payment behaviour is highly cyclical and sector specifc. Indians don't just pay when it's convenient, they pay when they're concerned by time, tempted by deals or compelled by societal pressure. "What are people buying?" is a surface level question. Instead a better question would be- “What emotion, event, or pressure is triggering this payment right now?” 4/ You’d think EMIs are just for cars, gadgets or very high value purchases, right? No. About 20% of retail and utility bills in India now go through EMI. As Niket pointed out in yesterday's post, EMIs are becoming a go to option for nearly everything. They are now a coping mechanism to maintain one's lifestyle. That's it :) Feel free to add any other personal observations you've noticed regarding how India pays.

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