## payment systems in india---Ref: https://events.ccc.de/camp/2019/wiki/Session:Payment_Systems_in_India_(Rescheduled)---# rbireserve bank of india---# banks## Public- State Bank of India ($590B)- Punjab National Bank ($120B)## Private- HDFC ($220B)- ICICI ($140B)Total More than 1500 banks.Public=Govt is majority owner---# npcinatonal payments corporation of india- umbrella organization- owned by banks- authorized by rbi- operates retail payments in india- not-for-profit(not a government entity)---<!-- effect=explosions -->## all the ways you can pay### digitally---# numbers- adult population (800M)- bank accounts (1.6B)- debit card (660M)- credit card (30M)(might be a few years old)---## card payments- 3D Secure (2FA mandate)- RuPay Card network (run by NPCI)- 4M PoS devices(PoS = Point of Sale)---<!-- ## cbscore banking system--- -->## NEFT/RTGS/IMPSBank-Bank transfer- RTGS: National Electronic Fund Transfer (run by RBI)- RTGS: Real Time Gross Settlement (run by RBI)- NEFT runs at 30 minute batches 24x7x365- IMPS is instant---# historically:- NEFT would run once every business hour- RTGS would be real-time but only support high-value transactions to keep loads bearable---# wallets---# pre-payment-instrument- Gift Cards- Meal vouchers(Things that are currency, but not really currency)---# wallets = ppibank account -> walletyour wallet = ledger- transactions- p2p transfers---# sachet economy- wallet bloom- no 2FA!---# NOV 09 2016---# UPIUnified Payments Interface---- mobile-first- shared-banking-platform- works-across-banks- run by npci- 25+ apps on both Android/iOS---1. authenticate with your phone number2. pick a bank account3. transact with your PIN for your bank account---## current players:- PhonePe (owned by Flipkart->Walmart) (20-30%)- WhatsApp (FB) (in beta)- GPay (30-60%)- Paytm (5%)---# interested in more?- Tuesday 1st Sep- 1730 UTC / 1300 EST / 2230 IST- (spoilers)