The News: The Reserve Bank of India Is Reportedly Drawing Up Plans to Link Credit Cards Issa And MasterCard to the University Interface (UPI), In Dustry Executives Aware of the Matter Told the Morning Context.

The Central Bank will make a decision before April, two of the executives said.

The background: The upi, India's Mobile Bank-BANK Instant Payments System, has become one of the country's most poster arthods sinces 2016 Ch and Has Helping SPUR Strong Digital Payments Growth.the Upi Reached A Record 7.829 Billion Payments in DecemberAlone Totaling INR 12.82 TRILLION ($ 163.1 Billion), up 71% year over year (yoy), Per the National Payments Corporation of India.Right Now, only debit card s Elect Credit Cards Powered by Rupay Can Use the UPI.This 700 Million Cards in India and Dominates the Country's DEBIT CARD Market, But It Lags Behind Visa And Mastercard When.

What's in it for visa and mastercard? Connecting to the upi would be a huge oppointunity for visa and mastercard. Two Own 90% of India's Credit Card ET, but the Country Has Just 7.3 Million Point-OF-Sale Terminals for PhysicalCARDS, PER BLOOMbergUdabur Stock. But using the upi would them access to a vast network of 230 Million QR CODES that Shops use to receive money. W their Presence in India's Digital Payments Markets, Which Is Expected to Increase from $ 3 TRILLIONin 2022 to $ 10 trillion by 2026, Per Boston Consulting Group and Phonepe.Guoabong Investment

Visa and MasterCard has been facard regulatory challenges in India RegardingS Like Payment Fees and Data Sharing. LINKING to the UPI Would them Bulk up their p Resence in the Market.Chennai Investment