Asia Techonomics: Indien hat das weltgrößte Echtzeitbezahlsystem – und riskiert nun dessen Erfolg

In India, the country's real-time payment system appears to be superior to those in Germany, as evidenced by a coconut vendor at a roadside stand. While cash remains the primary method of payment in many bakeries, convenience stores, and eateries across Germany, India grapples with a scarcity of locations accepting only cash. Instead, rudimentary QR codes affixed to small signs are ubiquitous across the country, enabling customers to scan and make real-time transfers via their smartphones.

These transactions are facilitated by the nationwide UPI (Unified Payments Interface) platform, which operates seamlessly across various banks and fintech applications. Established a decade ago, UPI has become the cornerstone of India's digital infrastructure. In July alone, the platform processed 24 billion transactions with a total value of roughly 270 billion euros.

However, the success model of UPI is now facing a significant alteration. Starting from now, transaction fees may be introduced, potentially diminishing the platform's unique advantage that propelled India to the forefront of global real-time payment systems.