Key Points
Kumarakom: The basic UPI services will continue to remain free, and India will reach an agreement with some of the countries by the end of 2023 to start a discussion on remittances and payments, said Dilip Asbe, managing director & CEO, National Payments Corporation of India (NPCI)...
Work is on with the government for incentives," he told reporters..
"But the value-added services of UPI, where the ecosystem needs some incentives to drive the adoption - whether it is mandate and credit - that's how the benefits will be accrued and the larger benefits for merchants and consumers would come from that."..
There is RuPay card and other international card schemes, so the consumer will choose the choice of payments," he said, pointing out that earlier the wallets were close loop systems...
Agreements will be reached with some of the countries before the end of this calendar year so that we start the conversation for the remittances and payments," he said.. India and Singapore linking their digital payments systems has shown that bank accounts in different countries can be interoperable, Asbe said..
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