UPI Tap & Pay: Is India's QR Code Era Coming to an End? | Vantage on Firstpost | 4K
UPI payments in India are moving beyond QR codes as the new tap-and-pay experience allows users to make payments using near-field communication, or NFC. In this video, Firstpost explains how UPI tap and pay works, including the requirement for NFC-enabled phones and payment terminals, and how transactions can be completed without active mobile data. The video also examines the scale of UPI, which processed 24.5 billion transactions worth Rs 29.8 trillion in August. Beyond domestic payments, it looks at India’s push to connect UPI with payment systems in other countries, including a proposed link between India’s UPI and Russia’s Faster Payments System. It also examines how such links could support cross-border trade and remittances. Hem Saroya tells you more.00:00 – Introduction: The Shift from QR Codes to Tap & Pay
00:49 – How UPI Tap & Pay Works
01:52 – The Massive Scale and Evolution of UPI in India
02:39 – Taking UPI Global: Cross-Border Payment Linkages
04:38 – Pushing Digital Public Infrastructure at the BRICS Summit
05:43 – India-Russia Payment Ties & Key Challenges
06:25 – UPI as a Tool of Economic Diplomacy
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UPI Tap And Pay | UPI | Tap And Pay | Digital Payments | India Digital Payments | QR Code Payments | UPI Payments | Contactless Payments | NFC Payments | NPCI | Digital India | Cashless India | Mobile Payments | Fintech | Payment Technology | Firstpost | Hem Saroya | Vantage
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