NPCI's Rai On India's Payments System Outlook

The video discusses the growth of digital transactions, particularly through UPI, and the infrastructure needed to support this growth. It explores various use cases, such as the National Common Mobility Card and credit on UPI. The video also covers UPI's international expansion, including remittances and global tech stack utilization. Innovations like voice-enabled payments are highlighted, along with challenges in cross-border payments, exemplified by the Singapore collaboration. The future of digital payments is discussed, with interest from various countries in adopting UPI.

What is the primary goal of digital payments in India as discussed in the first section?

• To increase the number of cash transactions

• To reduce the dependency on cash and wallets

• To limit the use of mobile phones for payments

• To make payments more complicated

Which card is mentioned as a use case for digital payments in India?

• National Common Mobility Card

• International Travel Card

• Digital Wallet Card

• Universal Payment Card

What is one of the key features of UPI's international expansion?

• It is limited to domestic transactions

• It restricts remittances to India

• It allows travelers to use UPI abroad

• It is only available for Indian residents

What is a potential benefit of voice-enabled payments?

• They are only for tech-savvy users

• They make payments more visible

• They complicate the payment process

• They make payments conversational and accessible

What is the role of NPCI International in UPI's global strategy?

• To develop new UPI apps

• To restrict UPI usage to India

• To limit UPI to government transactions

• To facilitate UPI's international expansion

What is a significant challenge in cross-border payments as discussed in the last section?

• Lack of bilateral relationships

• Excessive use of cash

• Limited digital infrastructure

• High transaction fees

Which country has shown interest in adopting the full UPI stack?

• Germany

• Indonesia

• Brazil

• Australia