## payment systems in india

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Ref: https://events.ccc.de/camp/2019/wiki/Session:Payment_Systems_in_India_(Rescheduled)

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# rbi

reserve bank of india



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# 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

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# npci

natonal payments corporation of india

- umbrella organization
- owned by banks
- authorized by rbi
- operates retail payments in india
- not-for-profit

(not a government entity)

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<!-- effect=explosions -->

## all the ways you can pay

### digitally

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# numbers

- adult population (800M)
- bank accounts (1.6B)
- debit card (660M)
- credit card (30M)

(might be a few years old)

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## card payments

- 3D Secure (2FA mandate)
- RuPay Card network (run by NPCI)
- 4M PoS devices

(PoS = Point of Sale)

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<!-- ## cbs

core banking system

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## NEFT/RTGS/IMPS

Bank-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

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# historically:

- NEFT would run once every business hour
- RTGS would be real-time but only support high-value transactions to keep loads bearable


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# wallets

![](paytm.jpg)

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# pre-payment-instrument

- Gift Cards
- Meal vouchers

(Things that are currency, but not really currency)

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# wallets = ppi

bank account -> wallet

your wallet = ledger

- transactions
- p2p transfers

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# sachet economy

- wallet bloom
- no 2FA!

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# NOV 09 2016

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# UPI

Unified Payments Interface

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- mobile-first
- shared-banking-platform
- works-across-banks
- run by npci
- 25+ apps on both Android/iOS

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1. authenticate with your phone number
2. pick a bank account
3. transact with your PIN for your bank account

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## current players:

- PhonePe (owned by Flipkart->Walmart) (20-30%)
- WhatsApp (FB) (in beta)
- GPay (30-60%)
- Paytm (5%)

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# interested in more?

- Tuesday 1st Sep
- 1730 UTC / 1300 EST / 2230 IST
- (spoilers)