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In India, You can transfer even One cent for free, in seconds, using phone numbers. Can cryptos compete with that for payments?

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by COINS NEWS 66 Views

The United Payments Interface is free to use, and can be used to pay anyone at all. Just about every merchant, organized or not has a UPI ID.

Banks issue a UPI ID with all accounts and they are auto linked to mobile numbers so everyone has one.

You can transfer as low as a cent for free, and it's extremely convenient via say the Google Pay app.

Why would people use stuff like Nano in such a system?

They trust their fiat, and some payment cryptos are very volatile.

India's inflation is lower than the US now for the first time in decades so even dollar pegged stable coins might not be as attractive, and no one accepts them In say a farmers market.

The govt is committed to keeping UPI free too.

submitted by /u/Arinupa
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