As i worked in UPI Project....I'll tell you an interesting part. All this APIs communicate with each other in seconds because they are asynchronous in nature. Also, there are multiple cases where the Reconcilation / Payment status check in case of stuck cases, happens at NPCI network as the NPCI is the mediator between the banks and Payer and Payee. NPCI also takes care of Autopay i,e the UPI mandate which is also a part of UPI flow...but good work buddy keep it going. Also make sure you don't breach any of the NPCI's policy while sharing the informations on APIs as it could be confidential
Hi @MiscellaneousSounds is it possible to map a bank account with UPI ?.. I built a system to collect fraudster UPI IDs in a massive volume from fraud and scam websites. I don't know how to process those next. NPCI must have a way to map a UPI ID to bank account, right ??
@@mr.haristotle Hello Sir As someone who has worked on UPI tech previously, I can confirm that the APIs required to map UPI IDs to the bank account needs specific clearances from the NPCI which will in return require involvement of a banking license(can either be ur own bank like bharatPe has or a partenered one like phonepe has Yes Bank)
@@CodersGamingQuest Thank you for the clarification sir. So UPI IDs can be used to trace back to its bank account. I just hope the fraudster UPI ids I collected will help someone to find and eliminate frauds.
I am working in the fintech domain as a back-end developer, I have experience in working with multiple bank apis like upi, imps, NEFT, rtgc payment gateway system, the explanation is very accurate and awesome. Thank you so much we are waiting for next vedio
What is your daily work look like, while working as a backend developer in fintech?? i mean what kind of work you perform as a backend developer and what are the stacks that you use...
Bro can you just guide me on what all skills do i require to do backend works of a bank..im trying to move to the IT department of my bank and i just know sql and dbms..for the api thing you told what should i learn and kindly guide me on other skills which would help me
What I am curious about is, what's stopping other countries from implementing a system like UPI? If the govt does not do it, why aren't there big private corporations who can get all major banks on board doing it themselves? Edit: Amazing video and animations btw! keep it up!
@@AdwaithShanit's free for normal users who are using it for buisness purpose like QR code on shops they pay commission to govt on each transaction 😅 That's why it's good for govt as well as end users
Not sure about every country in the world, but Australia and Singapore both have such systems. In Australia its called PayID and in Singapore it is called PayNow. There some differences though like there are no third party apps in both countries so you have to use your bank's app in both cases. It is free and realtime and have id's like UPI ID. Here in Australia the ID's are limited to mobile phone number, email address and your business number called ABN. They are transferable though so even if you change banks you can link your id to the new bank. It is not as popular as UPI, not many people use it since all merchants have card payment facility.
bro u explained the working in a very simple way and did use attractive and simple to understand infographics but just a little suggestion, add some silent background music which gives a rhythm to the video and hooks you in the flow of the video...
thank you for the feedback, I tried it long back, some viewers found it distracting, may be I should look for a better background music :) . Feel free to suggest :)
Felt really confused.... Heard voices most of the time and the video was like frozen... Need more animations and visual illustrations as voice runs in the background...else it's difficult...
woul love to see the next video of how to build an UPI network from scratch / infrastructure and apis. Thank you, you have a new subscriber. Keep the good work..
So does it means gpay, Paytm and etc apps just provide an interface to transfer money using NPCI apis? then why NPCI itself does not build their own single application which does not involve using all these 3rd parties? and another doubt is if entire task is being done by NPCI then how gpay, paytm and etc apps are different from each other in terms of Fund transfer ? What is their crucial role ?
Great question! Yes, apps like GPay, Paytm, and others provide an interface for users to transfer money using NPCI’s infrastructure (specifically the UPI system). They’re essentially connecting to the same core system but adding their own features and user experience on top. NPCI focuses on building and maintaining the payment infrastructure (UPI) rather than user-facing applications. By allowing third-party apps to integrate, NPCI encourages competition and innovation, which ultimately gives users more options and a better experience. But, while the core transaction mechanism is the same, each app (GPay, Paytm etc) differentiates itself through added features like rewards, personalized recommendations, ease of use, loyalty programs, and even integrations with other services. These features are what make each app unique and appealing to different user preferences, even though they’re all using NPCI’s backbone for the actual transfers.
Govt have their OWN APP LIKE bhimpay , which sucks 🤮 , can't even login , recive sms , govt apps sucks always . The REAL REASON people use GPAy is you can have so many bank account , visa , mastercard , all IN ONE PLACE..
Hi Sir, this was a great video which helped explain how UPI worked even to a beginner like me. I wanted to know which software you have used for your animations?
Because i want to create a crypto exchange platform like binance and bybit for doing tradeing in 0 fee and for providing card services with unlimited transaction limit and also create a third party provider for buy/sell crypto 2:06 that' why i want to know how i make crypto exchange like binance and crypto third party provider like banxa
00:04 UPI simplifies real-time payments in India with instant transactions and no fees. 01:21 UPI enables real-time, secure bank-to-bank transfers in India. 02:29 UPI enables instant bank-to-bank transfers via payment service providers. 03:44 UPI facilitates real-time bank-to-bank transfers in India. 04:56 UPI enables secure payments via virtual payment addresses linked to bank accounts. 06:08 UPI offers direct bank-to-bank transfers, unlike systems like PayPal. 07:21 UPI enables instant bank transfers without intermediaries or wallet systems. 08:29 UPI enables real-time bank transfers in India, differing from US systems like Zelle. Crafted by Merlin AI.
I dont know a lot about UPI since am an NRI for many years now. One of the drawbacks i see and i could be wrong about this is that the upi id doesn't seem to be transferable. For example if i have an UPI id with ICICI bank and i shut down my account can i then have the same id linked to HDFC bank or does my upi id change ?
Great question! UPI IDs aren’t tied permanently to a specific bank, but they are linked to the account and bank you set them up with. If you close your ICICI account, you can’t immediately transfer the same UPI ID (like yourname@icici) to HDFC. However, you can create a new UPI ID with HDFC (like yourname@hdfcbank) once you set up a UPI profile there. Some apps like PhonePe or GPay allow custom UPI IDs (e.g., yourname@okicici), which are app-specific and can be linked to a new bank account when you switch banks. But if the UPI ID is strictly tied to a bank’s domain (e.g., @icici), it won’t transfer. So while you can’t transfer the exact same ID, setting up a new one is straightforward, and your mobile number remains the key identifier for linking UPI IDs across banks. Hope that clears it up!
@@ByteMonk But can you ask someone to send you money just by giving your mobile number or is it necessary to give the whole upi id like mobilenumber@icici ? If i have given my upi id to 50 people and i change over to hdfc, does that mean i have to tell each one of them that it is now changed to mobilenumber@hdfc ? I wonder why they need to have @icici or @hdfc kind of email type domains. Here in Australia the UPI id is only mobile number, email address or ABN (business number). Isn't that more secure since the sender doesn't even know which bank it is going to and it is transferrable as well.
Make video on how crypto third party provider works how he accept payment from the user and how he convert those money in crypto and how he convert the currency and where these crypto Third provider buy crypto who is giving the crypo to these companies means how crypto third party provider like banxa, simplex are buy crypto and how binance buy crypto
May I know how can it be free? I mean infra itself incurs cost, so does it mean the UPI being backed by the government makes it free? Its kinda like when apps they want to charge you platform fee. Thanks!
Yes, the government subsidizes it to keep it free. There is not much media attention on this aspect of UPI for some reason, neither many people like to talk about it.
UPI is backed by the National Payments Corporation of India (NPCI), which operates as a not-for-profit initiative aimed at making digital payments widely accessible. The government incentivizes banks and payment providers to keep transaction fees low (or even free) to encourage a cashless economy, so users aren’t charged directly. On the backend, there are still infrastructure costs, but these are generally absorbed by banks or covered by government subsidies, not passed on to consumers. In contrast, many private payment platforms rely on transaction fees for revenue, hence the “platform fee” you see with some apps. UPI’s model is unique in that sense-it’s about providing a public digital payments infrastructure as a service for everyone!
Hi I just I would like to inform you that our recent high loss from my through by UPI Lite Bank told me that there is no records on their system after reaching multiple times IR authorities finally I got to open my failed payment to buy UPI but I think UPI like bank cant be trace easily
Who bears the cost of setting up infrastructure and running UPI transanctions govt, bank or fintech app providers like PhonePe? Obviously both payer and payee are at least as of now not paying any additional charges for transanctions.
Government bears it. That charge is still less than the charge incured in producing physical currency notes and currency coins. Also the resources are saved. Moreover, it allows the government to have a record of each and every minute transactions happening in the country, which is not possible in physical currency.
U missed the ELEPHANT IN THE ROOM!!! The most advanced Payment system currently implemented by a nation: Brazilian PIX Do a research on its architecture and its details... u will see similarities with the Indian one, but actually better... much better... state of art handling more than 1 billion transactions in a single day.
It did occur to me during my research, but didn't have enough content to look into it, and would have expanded the video. please let me know if you have any good references. I will look into it in my future videos, thank you!
can say about if more transaction means advance or not but UPI hits 16 billion transactions in October setting new record aided by festive spends 500million+ per day Pix breaks record, exceeds 227 million transactions in single day
Pix charges merchants and UPI doesn't. UPI is older and way bigger in scale. UPI is also international. UPI is currently live in 7 countries other than India. But yes, PIX is the only system which can come to the level of UPI in future, there is no other system in the world comparable to UPI or PIX.
Brother i want to create a crysto exchange like bybit and binance for the trade free of cost and also for crypto card services can u please make video on how to create a crypto exchange platform like binance and bybit jist need to create a company no need of do Marketing please make video how crypto company buy crypto where he get crypto
The National Payments Corporation of India (NPCI), which developed UPI, was founded in 2008 during Dr. Manmohan Singh's tenure. NPCI was created as a central body to consolidate and oversee retail payments in India. This was a significant step in creating a UPI (unified payment infrastructure) in the country and laid the groundwork for payment innovations like UPI. Although UPI was introduced in April 2016 during Prime Minister Narendra Modi's tenure (2014-present), it was not directly introduced by him but rather by NPCI, which operates under the Reserve Bank of India (RBI) and remains an autonomous institution. So, the Manmohan Singh government facilitated NPCI's creation through supportive policies, and NPCI was established by the RBI and IBA in 2008 to centralize and advance India’s digital payment infrastructure. Modi government’s policies fostered a favorable environment for UPI to thrive, the development and introduction of UPI were managed by NPCI within the regulatory framework of the RBI, which maintains operational independence from the government.
The controlling body for UPI is the National Payments Corporation of India (NPCI), which oversees UPI’s operation and sets regulations to ensure security. In case of fraud, users can reach out to their bank or the app’s support team. Banks and UPI apps are required to follow NPCI guidelines for fraud resolution, so there’s a process in place to help recover funds in genuine cases of fraud. It’s not always instant, but the system has safeguards to address these situations. Thanks for raising this important point!
Most of my other videos are in fact less than 7 minutes :). This is my 1 week of research which I tried fitting under 10 mins, would be curious to know which parts of the video you found unnecessary or BS 😁. There are much better ways to earn 10X money for IT professionals in US than spending time on UA-cam , this is Passion!
Zelle network itself was created as a rebranding of a previous system called clearXchange, which was introduced in 2011. UPI is generally considered superior to Zelle due to its broader scope, lower transaction costs, and integration with a wide range of services in India. UPI allows instant, 24/7 interbank transfers, bill payments, and merchant transactions. Zelle, while fast and convenient in the U.S., is limited to person-to-person transfers within the U.S. and requires a linked bank account. Zelle architecture breakdown coming next week!
UPI and RAAST are similar in their goals of promoting digital payments and financial inclusion through real-time, low-cost transactions, but differ in their stage of adoption, governance, and specific payment features. UPI launched 5 years before RAAST has a mature and widely adopted ecosystem, while RAAST is still expanding its reach within Pakistan.
I have a Question. If my Bank is say Canara Bank, then why does my Google Pay UPI ID say @oksbi? My bank app also has built-in UPI, and there's an entirely different UPI ID there. I understand that there can be multiple UPI IDs for the same bank account but why does a Second Bank Come into picture? (Like SBI in this case)
would love to see the how UPI was built from scratch and how they created whole NPCI UPI network...!!!
Yes
Yes
Yes i would love to
I guess thats not possible as they havent clearly said how it works, or open sourced their technology
Maybe NPCI use blockchain technology.
As i worked in UPI Project....I'll tell you an interesting part. All this APIs communicate with each other in seconds because they are asynchronous in nature. Also, there are multiple cases where the Reconcilation / Payment status check in case of stuck cases, happens at NPCI network as the NPCI is the mediator between the banks and Payer and Payee. NPCI also takes care of Autopay i,e the UPI mandate which is also a part of UPI flow...but good work buddy keep it going.
Also make sure you don't breach any of the NPCI's policy while sharing the informations on APIs as it could be confidential
thank you for sharing your experience!
Hi @MiscellaneousSounds is it possible to map a bank account with UPI ?.. I built a system to collect fraudster UPI IDs in a massive volume from fraud and scam websites. I don't know how to process those next. NPCI must have a way to map a UPI ID to bank account, right ??
@@mr.haristotle Hello Sir
As someone who has worked on UPI tech previously, I can confirm that the APIs required to map UPI IDs to the bank account needs specific clearances from the NPCI which will in return require involvement of a banking license(can either be ur own bank like bharatPe has or a partenered one like phonepe has Yes Bank)
@@CodersGamingQuest Thank you for the clarification sir. So UPI IDs can be used to trace back to its bank account. I just hope the fraudster UPI ids I collected will help someone to find and eliminate frauds.
having 1.5 years of experrience in the UPI project any referral or job openings?
I am working in the fintech domain as a back-end developer, I have experience in working with multiple bank apis like upi, imps, NEFT, rtgc payment gateway system, the explanation is very accurate and awesome.
Thank you so much we are waiting for next vedio
Thanks for the feedback ❤️
What is your daily work look like, while working as a backend developer in fintech??
i mean what kind of work you perform as a backend developer and what are the stacks that you use...
Bro can you just guide me on what all skills do i require to do backend works of a bank..im trying to move to the IT department of my bank and i just know sql and dbms..for the api thing you told what should i learn and kindly guide me on other skills which would help me
how much do you earn?
if you are uncomfortable sharing that, just tell if you are satisfied or not with the pay
having 1.5 years of experrience in the UPI project any referral or job openings?
What I am curious about is, what's stopping other countries from implementing a system like UPI? If the govt does not do it, why aren't there big private corporations who can get all major banks on board doing it themselves?
Edit: Amazing video and animations btw! keep it up!
UPI is "FREE". The Whole reason big private corporations or major banks dont use UPI is that its very hard to make a profit out of it :)
That edit should be the comment first then your queries.
@@AdwaithShanit's free for normal users who are using it for buisness purpose like QR code on shops they pay commission to govt on each transaction 😅
That's why it's good for govt as well as end users
US wants monopoly with its SWIFT system
Not sure about every country in the world, but Australia and Singapore both have such systems. In Australia its called PayID and in Singapore it is called PayNow. There some differences though like there are no third party apps in both countries so you have to use your bank's app in both cases. It is free and realtime and have id's like UPI ID. Here in Australia the ID's are limited to mobile phone number, email address and your business number called ABN. They are transferable though so even if you change banks you can link your id to the new bank. It is not as popular as UPI, not many people use it since all merchants have card payment facility.
Complex system explained with simplicity. 👍🏼
not complex tbh, straightforward logics
What an incredible piece! It’s not only succinct but also beautifully designed, with stunning graphics that truly enhance understanding and flow.😊
Thank you 🙏
Thanks bro itne dino se yahi dhund ra tha 😂
8th wonder of the world I would say .... simple efficient and beautiful ❤
Thank you so much 😀
Need the next level API explored video. 💜. Thanks
I am a product associate recently started working on payment gateway products.. what you are doing is amazing 👍 keep posting
A revolutionary technology by the Indian government.
I created an application to detect real time fraud detection for UPI payments and this graph is really insightful. good research
The most modern , reliable ,versatile payment indigenous tech in the market , even the west can't and won't copy 😂
India rocks ❤🇮🇳
It's really so clear about this type of online transaction and behind process involved....
bro u explained the working in a very simple way and did use attractive and simple to understand infographics but just a little suggestion, add some silent background music which gives a rhythm to the video and hooks you in the flow of the video...
thank you for the feedback, I tried it long back, some viewers found it distracting, may be I should look for a better background music :) . Feel free to suggest :)
Crisp and clear information! Looking forward for more such videos. Thanks brother😍
This is art
Felt really confused.... Heard voices most of the time and the video was like frozen... Need more animations and visual illustrations as voice runs in the background...else it's difficult...
hats off to ur work keep going
Very well explained
Do well I'm ur supporter 💪💪💪
Thank you so much 🙂
Can't believe Indian government made something so good (UPI) considering how red tape bureaucracy works in our country
Damn mate! Stunning visuals and extremely well explained. Keep it up! 👍
We want More system Design videos plz
coming next week :)
i subscribed your channel! amazing graphics! such a sleek presentation and explained in a simple manner!
Nice video curious to know how to built UPI from scratch
Definitely waiting for more videos from your side... :) 🙌
Great. Expect deeper videos
The content is very nice!
I wish there were resources that you have used.
Can you also make a video about Digital rupee or eRupee. And do its comparison with UPI and other form of payment and currency?
Thank you for the beautiful explanation 🎉
Great content bro🥰
woul love to see the next video of how to build an UPI network from scratch / infrastructure and apis. Thank you, you have a new subscriber. Keep the good work..
I am eagerly waiting for the next video
You have earned my subscription 😁
So does it means gpay, Paytm and etc apps just provide an interface to transfer money using NPCI apis? then why NPCI itself does not build their own single application which does not involve using all these 3rd parties? and another doubt is if entire task is being done by NPCI then how gpay, paytm and etc apps are different from each other in terms of Fund transfer ? What is their crucial role ?
Great question! Yes, apps like GPay, Paytm, and others provide an interface for users to transfer money using NPCI’s infrastructure (specifically the UPI system). They’re essentially connecting to the same core system but adding their own features and user experience on top.
NPCI focuses on building and maintaining the payment infrastructure (UPI) rather than user-facing applications. By allowing third-party apps to integrate, NPCI encourages competition and innovation, which ultimately gives users more options and a better experience.
But, while the core transaction mechanism is the same, each app (GPay, Paytm etc) differentiates itself through added features like rewards, personalized recommendations, ease of use, loyalty programs, and even integrations with other services. These features are what make each app unique and appealing to different user preferences, even though they’re all using NPCI’s backbone for the actual transfers.
@@ByteMonk Wrong Information. Stop using ChatGPT. NPCI already has their own app. BHIM UPI
Govt have their OWN APP LIKE bhimpay , which sucks 🤮 , can't even login , recive sms , govt apps sucks always .
The REAL REASON people use GPAy is you can have so many bank account , visa , mastercard , all IN ONE PLACE..
BHIM app is there
Hi Sir, this was a great video which helped explain how UPI worked even to a beginner like me. I wanted to know which software you have used for your animations?
NICE INFO. LOVE IT👌
Amazing explanation.
Waiting for the next video.
wow the video is very informative!
goldmine of a channel
nice video
Thanks bro for accepting my request.
Thank lots.
Make video on how crypto exchange get crypto and where these companies get crypto for sell crypto third party provider like banxa,simplex
Nice
Great Work
What software have you used to create this presentation ?
bruh, you should mention this isnt for software engineers, this is just basic knowledge
keep it more!
How do you make these type of videos
Can you make one video for vpa based transaction and how mobile number is verified without knows to user using vmn
how upi was , is this video coming ?
Well then how does the upi lite and upi circle integrate into this?
I like video slides
What tools do you use to create these animations?
Because i want to create a crypto exchange platform like binance and bybit for doing tradeing in 0 fee and for providing card services with unlimited transaction limit and also create a third party provider for buy/sell crypto 2:06 that' why i want to know how i make crypto exchange like binance and crypto third party provider like banxa
00:04 UPI simplifies real-time payments in India with instant transactions and no fees.
01:21 UPI enables real-time, secure bank-to-bank transfers in India.
02:29 UPI enables instant bank-to-bank transfers via payment service providers.
03:44 UPI facilitates real-time bank-to-bank transfers in India.
04:56 UPI enables secure payments via virtual payment addresses linked to bank accounts.
06:08 UPI offers direct bank-to-bank transfers, unlike systems like PayPal.
07:21 UPI enables instant bank transfers without intermediaries or wallet systems.
08:29 UPI enables real-time bank transfers in India, differing from US systems like Zelle.
Crafted by Merlin AI.
Make video on how crypto cards work and how can i make like this
I also work in payment space, is gpay a PSP or a TPAP ? A PSP would be a bank and Gpay is registered with NPCI as TPAP.
When NPCI sends a debit request to the issuer bank, where is it being debited to?
2nd person's bank
How do they encrypt decrypt the API calls?
If UPI goes international, it will completely change the international money transfer scenario.
I dont know a lot about UPI since am an NRI for many years now. One of the drawbacks i see and i could be wrong about this is that the upi id doesn't seem to be transferable. For example if i have an UPI id with ICICI bank and i shut down my account can i then have the same id linked to HDFC bank or does my upi id change ?
Great question! UPI IDs aren’t tied permanently to a specific bank, but they are linked to the account and bank you set them up with. If you close your ICICI account, you can’t immediately transfer the same UPI ID (like yourname@icici) to HDFC. However, you can create a new UPI ID with HDFC (like yourname@hdfcbank) once you set up a UPI profile there.
Some apps like PhonePe or GPay allow custom UPI IDs (e.g., yourname@okicici), which are app-specific and can be linked to a new bank account when you switch banks. But if the UPI ID is strictly tied to a bank’s domain (e.g., @icici), it won’t transfer.
So while you can’t transfer the exact same ID, setting up a new one is straightforward, and your mobile number remains the key identifier for linking UPI IDs across banks. Hope that clears it up!
@@ByteMonkthanks for information 🙏
@@ByteMonk But can you ask someone to send you money just by giving your mobile number or is it necessary to give the whole upi id like mobilenumber@icici ? If i have given my upi id to 50 people and i change over to hdfc, does that mean i have to tell each one of them that it is now changed to mobilenumber@hdfc ? I wonder why they need to have @icici or @hdfc kind of email type domains. Here in Australia the UPI id is only mobile number, email address or ABN (business number). Isn't that more secure since the sender doesn't even know which bank it is going to and it is transferrable as well.
Please make an app such
Make video on how crypto third party provider works how he accept payment from the user and how he convert those money in crypto and how he convert the currency and where these crypto Third provider buy crypto who is giving the crypo to these companies means how crypto third party provider like banxa, simplex are buy crypto and how binance buy crypto
What is the source you have used to make this video ?
Great KT better than soo called IT influencer ❤
May I know how can it be free? I mean infra itself incurs cost, so does it mean the UPI being backed by the government makes it free? Its kinda like when apps they want to charge you platform fee. Thanks!
Yes, the government subsidizes it to keep it free.
There is not much media attention on this aspect of UPI for some reason, neither many people like to talk about it.
UPI is backed by the National Payments Corporation of India (NPCI), which operates as a not-for-profit initiative aimed at making digital payments widely accessible. The government incentivizes banks and payment providers to keep transaction fees low (or even free) to encourage a cashless economy, so users aren’t charged directly.
On the backend, there are still infrastructure costs, but these are generally absorbed by banks or covered by government subsidies, not passed on to consumers. In contrast, many private payment platforms rely on transaction fees for revenue, hence the “platform fee” you see with some apps. UPI’s model is unique in that sense-it’s about providing a public digital payments infrastructure as a service for everyone!
Hi I just I would like to inform you that our recent high loss from my through by UPI Lite Bank told me that there is no records on their system after reaching multiple times IR authorities finally I got to open my failed payment to buy UPI but I think UPI like bank cant be trace easily
Talking about UPI without showing Paytm should be illegal (thumbnail)
Who bears the cost of setting up infrastructure and running UPI transanctions govt, bank or fintech app providers like PhonePe? Obviously both payer and payee are at least as of now not paying any additional charges for transanctions.
Government bears it.
That charge is still less than the charge incured in producing physical currency notes and currency coins. Also the resources are saved.
Moreover, it allows the government to have a record of each and every minute transactions happening in the country, which is not possible in physical currency.
🔥
U missed the ELEPHANT IN THE ROOM!!!
The most advanced Payment system currently implemented by a nation: Brazilian PIX
Do a research on its architecture and its details... u will see similarities with the Indian one, but actually better... much better... state of art handling more than 1 billion transactions in a single day.
It did occur to me during my research, but didn't have enough content to look into it, and would have expanded the video. please let me know if you have any good references. I will look into it in my future videos, thank you!
can say about if more transaction means advance or not but
UPI hits 16 billion transactions in October setting new record aided by festive spends
500million+ per day
Pix breaks record, exceeds 227 million transactions in single day
Pix charges merchants and UPI doesn't. UPI is older and way bigger in scale. UPI is also international. UPI is currently live in 7 countries other than India. But yes, PIX is the only system which can come to the level of UPI in future, there is no other system in the world comparable to UPI or PIX.
Animation tools list please?
There is no single tool I rely on, I will soon make a video on the entire list, I have answered this question many places in comments :).
@@ByteMonk Thanks lot , will be waiting for that.
Brother i want to create a crysto exchange like bybit and binance for the trade free of cost and also for crypto card services can u please make video on how to create a crypto exchange platform like binance and bybit jist need to create a company no need of do Marketing please make video how crypto company buy crypto where he get crypto
UPI introduced by PM Modi under Digital India scheme
The National Payments Corporation of India (NPCI), which developed UPI, was founded in 2008 during Dr. Manmohan Singh's tenure. NPCI was created as a central body to consolidate and oversee retail payments in India. This was a significant step in creating a UPI (unified payment infrastructure) in the country and laid the groundwork for payment innovations like UPI. Although UPI was introduced in April 2016 during Prime Minister Narendra Modi's tenure (2014-present), it was not directly introduced by him but rather by NPCI, which operates under the Reserve Bank of India (RBI) and remains an autonomous institution.
So, the Manmohan Singh government facilitated NPCI's creation through supportive policies, and NPCI was established by the RBI and IBA in 2008 to centralize and advance India’s digital payment infrastructure. Modi government’s policies fostered a favorable environment for UPI to thrive, the development and introduction of UPI were managed by NPCI within the regulatory framework of the RBI, which maintains operational independence from the government.
Get over modi worship.
@@ByteMonk Chidambaram, Finance Minister under Man Mohan Singh Robot ridiculed UPI when Modi announced it in Parliament. UPI is all Modi. Check facts.
@@sandeepsrinivas7 you have no idea chdabhram currpotion has been in
backed by juspay
Do upi is monitored by government?
Anything involving banks is monitored by govt
It is created by govt
All is fine but where is the Controlling body of it. What happens when fraud happens? Whoosh money gone.
The controlling body for UPI is the National Payments Corporation of India (NPCI), which oversees UPI’s operation and sets regulations to ensure security. In case of fraud, users can reach out to their bank or the app’s support team. Banks and UPI apps are required to follow NPCI guidelines for fraud resolution, so there’s a process in place to help recover funds in genuine cases of fraud. It’s not always instant, but the system has safeguards to address these situations. Thanks for raising this important point!
Tech Samsara
Can I work with you?
Modi 🔥 the visionary
😂😂😂
😂😂😂 delusional
After coming to US, I started using Zelle to transfer using each other’s phone numbers and never felt any difference with UPI.
UPI is copy paste of Zelle only 😂
@ wow really? didn’t know that
@@SS-zw9bc then Why is UPI faster? 🤣
so much bs. This could have been a
UA-cam allows ads between the video if and only if it's >8min that's why all videos are >8min from last 1-2 years 😅
This is business
Most of my other videos are in fact less than 7 minutes :). This is my 1 week of research which I tried fitting under 10 mins, would be curious to know which parts of the video you found unnecessary or BS 😁.
There are much better ways to earn 10X money for IT professionals in US than spending time on UA-cam , this is Passion!
Its not free, govt bears the cost! In fact RBI
How?
@@send2anshup Who pays for the infra ? Actually all banks pay a certain amount to NPCI, not just RBI.
@@navaneeth1087 Exactly
Copy paste of Zelle 😂
Zelle network itself was created as a rebranding of a previous system called clearXchange, which was introduced in 2011. UPI is generally considered superior to Zelle due to its broader scope, lower transaction costs, and integration with a wide range of services in India. UPI allows instant, 24/7 interbank transfers, bill payments, and merchant transactions. Zelle, while fast and convenient in the U.S., is limited to person-to-person transfers within the U.S. and requires a linked bank account. Zelle architecture breakdown coming next week!
@ByteMonk thanks for the information!!
@ByteMonk Waiting for Zelle details
@@SS-zw9bc UPI is faster and Free. Zelle is not 💀
@@NeetSheth thanks for sharing
Similar to Pakistan RAAST System
UPI and RAAST are similar in their goals of promoting digital payments and financial inclusion through real-time, low-cost transactions, but differ in their stage of adoption, governance, and specific payment features. UPI launched 5 years before RAAST has a mature and widely adopted ecosystem, while RAAST is still expanding its reach within Pakistan.
Awesome video keep up the great work would love to partner if you want any help
Hi sir is there a way to contact you.
Doesn't UPI work on IMPS. AFAIK, UPI is just an interface. The underlying infra is the same as used earlier for processing instant payments - IMPS.
I have a Question. If my Bank is say Canara Bank, then why does my Google Pay UPI ID say @oksbi?
My bank app also has built-in UPI, and there's an entirely different UPI ID there. I understand that there can be multiple UPI IDs for the same bank account but why does a Second Bank Come into picture? (Like SBI in this case)
🫡
would love to see the how UPI was built from scratch and how they created whole NPCI UPI network...!!!
nice video
Make video on how crypto exchange get crypto and where these companies get crypto for sell crypto third party provider like banxa,simplex