How India's MASTERSTROKE with Rupay is killing VISA and is changing India? : Business Case Study

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VIDEO INTRODUCTION:
On 15th of August 2014, the govt of India made a revolutionary announcement about the Pradhan mantri Jan Dhan Yogna, and this gave rise to an iconic venture by the National Payments Corporation of India.This venture that I am talking about is none other than India’s own card network Rupay. and Rupay has taken such big strides in the Indian payment industry that in 2013, RuPay accounted for only 0.6% of all cards but in just 4 years, by June 2017, Rupay had already surpassed Visa as India’s largest payment card with 375 Million transaction and by 2020 it already commanded a market share of 60% in the India’s card market!!This put VISA under such a big threat that it approached the US govt to help them stand against Rupay!! So the question, in just 6 years, How did Rupay kill the billion dollar Duopoly of Visa and Mastercard in India?What is the govt’s strategy and intent behind this revolutionary intitiative?and most importantly, as citizens of India, how is this going affect lives of the people of India?
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Study materials
1. razorpay.com/learn/what-is-md...
2. www.rupay.co.in/
3.indianexpress.com/article/bus...
4. Working of credit cards
drive.google.com/file/d/1RBeT...
5. Working of Razor Pay
razorpay.com/blog/how-online-...
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[@archervinay]

One of the reason for government to push Rupay was the data. Visa and MasterCard were capturing financial data and American govt, American companies where able to get much better insights about Indians than ourselves. They could track absolutely everything and it was posing a strategic risk to Indian government. So it was high time we needed to keep financial data within India by using Indian card network and thus Rupay. And this data is also shared with Income tax department to cross check IT returns

[@deepakmanwaniappdev]

i liked this reason behind using 1300 cr hefty amount to set off the interest of shareholder in the payment market

[@puneet7768]

We are still handing over data to America as we use facebook, Instagram, google etc

[@archervinay]

@@puneet7768 on social networks we share data about our preference and intrest but here we are sharing our financial data with proof in the form of receipts. They already have demographic information and they can tell the financial status of a individual with pin point accuracy.

[@mikeljackson6459]

@@puneet7768 data localisation law prevents that and that's the reason they're opening many data centres in the country

[@mrsingh1612]

That is why mastercard cannot issue cards in india now, and visa has agreed to build data centres in india. Also rupay is a dedicated service, while visa is much more than a payment gateway. payment gateway is only visible entity of visa's source of income to us, it has got much more depth than we can imagine. and at the same visa is here for diversifying payment process, with its mVisa in india. and its already ahead in cardless payment service, and many more credit service are being offered. even amazon had to agree to allow visa foregoing the high charges it offered. all i can see is rupay being acquired (privatisation) or it will be a cash drain for gov just like bsnl.

[@skyinearth]

If Indian Banks start promoting Rupay Card in all sectors then international players will be forced to accept Rupay as a valid card, I've booked middle eastern intl flight by using Rupay Card and Believe me it was a proud moment for me also I didn't had to pay a single charge as of currency conversion and Intl transaction fee, hope to see more surprises as this one.

[@deadmann1131]

@@MrAnmoltiwari tere visa aur mastercard wale country me kya log tax nahi dete?? bakchodi kar lo bass....

[@sweetpotato4678]

@@deadmann1131 abe gadhe, he is referring to the amount GOI is paying the banks to compensate for their loss when Rupay is used. That money is coming from tax payers. It's not growing on trees.

[@cocomoose4730]

@@deadmann1131 anpad ho anpadon wali baat kroge! did you read in what context he said that! you reek of hyper nationalism man! get some help

[@MrAnmoltiwari]

@Guardian Of the galaxy true…cant deny the fact that its a great idea.

[@sameermelhotra7821]

@@MrAnmoltiwari abey tu jaa re, yeh scheme tere liye hai hi nahi 🤡😂🤣

[@yasirparvez9750]

That's the beauty of our country... People can talk brain drain and crap but there is still so much talent working here that we can take over any superpower from the economic standpoint

[@hmmm463]

Hindus,Jains and Parsis are backbone of this country No matter how much brain drain happens, these communities will save India cz thy know how to peacefully coexist and work for both themselves and the country

[@unseenmind8964]

Very well said mate!!!

[@wyde3439]

Are you joking? Which economic superpower is India going to take on? UPI, RuPay and other financial systems will help the country develop. But this is not sufficient to take on any economic superpower

[@bossb9680]

@@wyde3439 it's a step forward.. you can't jump 1 km at a time. You need to take 2meter strides to reach that 1km

[@sargunangoppalan7809]

@@bossb9680 don't bother explaining. These are basic facts, but some people don't have the IQ to understand a simple thing that you stated. People like Swadesh is the reason why the country tend to face challenges in development. India will rise if the government has ambition and keep pushing towards its goal. Nothing is impossible here. In the year 2000, China's GDP was $1.2 trillion, while Japan's GDP was $4.8 trillion & US at $10.25 trillion. Now, as of 2020, China's GDP is at $14.72 trillion, while Japan's GDP is at $5 trillion and US GDP at $20.94 trillion. If China and Chinese people had the mindset of Swadesh, they could not have become the 2nd largest economy today, threatening US dominance as sole superpower.

[@C01A60]

As the western govt are using financial instruments as weapons it’s important for each country to adopt their own alternatives..

[@Mrgreen2558]

Yep you are right

[@NativeVsColonial]

Learn from China.

[@rradhak]

learn from what is done to Russia

[@jothiparam]

Exactly

[@ksb921]

true ,we need to avoid barking dogs ,out side our home

[@IndexofIndia]

Mark my words. UPI and RUPAY will be the reason India increases her soft power in this decade. Hope the pilot project ties with ASEAN and Middle East countries gets successful. So bullish on this country and its hardworking people.

[@growwithranjit4048]

🔥

[@growwithranjit4048]

Investing in you at 265 subs

[@zinchh]

Marked

[@Sam-ee6iw]

Ur hoping and predicting in the same sentence. I’d reckon there is no logic to back ur claim?

[@Jay-bf1nm]

💯

[@multiplytheiq6880]

I learned practical examples for the following topics from Think school 1. Sale and lease back concept ( Indigo) 2. Inventory management (Toyota) 3. Importance of data research ( Bajaj finance) 4. Logistics management (Amul ) 5. Difference between inventory model and market place model in ecommerce (nykaa) And many more. Thank you so much to Think school team.🤝🤝🤝

[@SanthoshVodnala]

Man, youn took me back in time. Soo many lessons learnt by Think School. I'm very grateful I found this channel and to the Think School team and the Think School community

[@waytosuccess18]

kzbin.info/www/bejne/fprUg6Owqs2Xo8U🎉

[@randibacha5777]

Commenting to save this

[@readbooksinsteadofmyname7369]

@@randibacha5777 this notification will help you

[@sunilts3089]

superb

[@muttonshop1]

Not a banking expert, but whatever is explained here is good ...going the right way, there may be challenges, but doesn't mean India should not fight these challenges! Best wishes India!

[@prakharshukla7710]

What has changed ? The fact that Modi regime let the psu and government owned corporation go ahead with their plans and implementation without any fear. Rupay was struggling during congress regime. And than Modi changed the game using pmjdy, the infamous demonetisation added to the cashless banking. I paid using UPI in a remote chai shop of ladak. This is the level of penetration these government ideas have achieved.

[@MMaheshThakur]

Congres only worked for elites. We got telephone and mobile in BjP era too.

[@samarthpat]

@anime that's a very good point u made there, i think it was one of the many reasons they did there.

[@akshitaggarwal265]

They even accept 10 rs payment through UPI awesome man

[@sandeepmallik7312]

🤦‍♂️

[@srinisbir8781]

@@anime2315 You hit the nail on its head. In India, "laton ke boot baaton se nahin mannte". You need to hold Indians by the scruff their neck to make them adopt something new.

[@harshalpatil2817]

I had also open my bank account using PMJDY back in 2014-15 because I had qualified for scholarship of Rs30000.I am still using that account and Rupay debit card and most importantly I have got new Rupay Debit card with chip 😍😍

[@balu3811]

Rupay is best because it doesn't have charges for most of the payments.

[@waytosuccess18]

kzbin.info/www/bejne/fprUg6Owqs2Xo8U🎉🎉

[@anniejapan2306]

kzbin.info/www/bejne/anbGe52MnrKgipY🍑

[@thecryptohacker9976]

Not relevant for people who gets paid in India from working in foreign companies and for people who regularly makes international purchases and transactions like myself.

[@WanderingSoul-rt2ws]

@@thecryptohacker9976 It's mainly for poor and Middle class. Rich people can have both cards.

[@hxrsh_x]

Steam pe rupay ka card nahi chalta

[@lesliebenjamin5487]

You missed out mentioning also another aspect in that; letting "purely external" card payment system (any country) have control of a country's ecosystem can be very disastrous effects as being visible in the current global situation. When country GOVERNMENTS have issue with each other, such private companies are arm twisted into stopping/exiting/penalizing hence with little concern or care for the impact on an "AVERAGE normal" person in the country of economic activity. In cases of sanctions, India has card-proofed itself and that's a "part benefit."

[@abhia7219]

You rock!

[@thechosenone1533]

He didn't miss it out. This video was made before the Ukraine war.

[@Dhannanjayy]

As said close to 1.4 lakh crore rupees were deposited after the PMJDY was launched ultimately earning interest on the increased liquidity in terms of loan etc. This can offset the 1300 crore set by govt. Moreover now that rupay and UPI willbe used by foreign soil, royalties can be charged in high income countries.

[@waytosuccess18]

kzbin.info/www/bejne/fprUg6Owqs2Xo8U🎉🎉

[@vedantmungre1702]

Yes same, I also thought about that

[@drpizza8546]

But in foreign soil if rupay starts charging royalties why will people opt for it instead of visa and master card? The services provided by rupay are only limited to indian subsidiaries and payments of rupay are also not accepted through international gateways.

[@escobar4843]

Good point.

[@ankanroy2931]

@@drpizza8546 it can be much low

[@SanthoshVodnala]

I always wanted to know the business model of visa and mastercard, and why there are only 2 major card systems. This video helped a lot in understanding this. Thank You Think School!

[@waytosuccess18]

kzbin.info/www/bejne/fprUg6Owqs2Xo8U🔥

[@vinayakk2745]

@@waytosuccess18 stop spamming!

[@nitinbagaria1982]

There is AMEX also

[@deathward990]

AMEX has better perks though

[@anniejapan2306]

kzbin.info/www/bejne/anbGe52MnrKgipY🍑

[@IvenSimon]

Very well explained. I believe this is the best implementation of Modi government in the past 8 years. Very well visioned and organized. Hope that everyone in India (especially the low income people) will get the power of technology to improve their yields.

[@rp6240]

I am in USA right now, but this makes me so proud of my country INDIA :) THANKSS MODI!!!!!!!!

[@viveksaxena4326]

I was paying fee of my College . I get to know that visa charge 150 rupee as convenience charge on 22k rs. But i submit my fee by using friend debit card of rupay where there is no convenience charge . Then i got to know how useful Rupay is.

[@ronitsharma1414]

wow, thanks for telling me this

[@swastiknag9220]

I was booking suburban train ticket in UTS app where I noticed this

[@privateagent5972]

yes i also noticed that but i had my own rupay card

[@ksb921]

you paid american cess

[@zos8085]

In Australia, using a credit card can see 4% sucked out of the bill. I asked my dentist if there was a cash discount. He said no, so I quit that dentist. Nice to see India stop bleeding money via 'invisibles'

[@adityarao3577]

Came to know that our own CoWin platform is in huge demand even in the developed world these days. Its really impressive how the government has taken unprecedented leaps in the digital space.

[@anujmchitale]

What you think unprecedented is just basic in developed world.

[@MrDevangThanki]

@@anujmchitale Obviously it is basic but we didn't have this basic before...Be grateful and aim for more.

[@anujmchitale]

@@MrDevangThanki Yes but tagging it as "unprecedented" or "innovative" is patting our backs too much. I agree to your point of aiming for more but sorry, cannot be grateful for such small fruits.

[@AdhityaMohan]

And what world is that? The EU has its own system, so does Canada, the US and Australia. Sure it's an okay system, but tone down on the rhetoric.

[@adityarao3577]

@@AdhityaMohan you are right. Actually the greatest product india has produced, that too on a mass scale, is people like you...who would bash their children for the 1% they couldnt score and undermine the 99% they did. Keep up the great work!

[@LuisDonado]

Great video. It serves as a reference. Happy for India that always stands their grounds and is not a lapdog of anyone. If you want to do business with India you're welcome but it's got to be reciprocal, not just a one way highway.

[@arizvisa]

Congratulations to both India and Rupay for being able to threaten and practically defeat a practical monopoly that is maintained through the opacity of information! The formula is easy, the country with the highest most evenly educated population wins and always innovates. :-) If only leadership in all democratic countries are capable of understanding this.

[@jihirsh4861]

Sorry! I secretly want this channel to be underrated, this content is too valuable for everyone to know. But keep up the good work bhaiya.

[@lalit3262]

Lol 😂 sometime evn i have the same thought but then i remember im on youtube 😂

[@waytosuccess18]

kzbin.info/www/bejne/fprUg6Owqs2Xo8U

[@vsisirreddy4409]

Same here..... U literally said my words🤫🤣

[@bochelasaiavinash7786]

same here

[@gopinathchowdary8483]

whn it's matter of national security ... can't agree more !!! besides this is an open secret .

[@AnuJ-vu5xn]

we usually only critisize our government ... but no one can deny the crazy rise of infrastructure , power supply , startups , NPCI(digital transactions ) and many more in just 5 years ..!!!

[@narutohenaruto]

only blind haters criticise it. the people with a working brain who know whats happening will have nothing but praise for the Modi govt.

[@kumarnavneet6079]

Defense,welfare scheme also

[@the7thhokage404]

criticism is good as well, helps keep politicians humble.

[@jarp5581]

They are Anti Hindu They think it's cool being anti Hindu

[@vishvadhar]

@@Delta._ भाई गाली देना जरूरी है? कहा से आया में बताता हूं Quran 2.191 Quran 9.5 Quran 5.33

[@paulwusteman1094]

Very clever scheme, seemingly with very great benefits for the Indian population. Congratulations to Modi. Faced with mad murderous Russia (but not for much longer) and a merciless ultra-nationalist China (including to its own people), we need a strong democratic India that can invent schemes like this for the benefit of its people..

[@govindadas7095]

RuPay is going to be a real game changer in future towards building Indian financial system

[@rajars4239]

Dude, Rupay card doesn't work properly in India only. There are many failed transactions. There are some outlets where you have a board saying American Express and Rupay not accepted. Last but not the least, RuPay is completely useless if you travel abroad.

[@05videos6]

@@rajars4239 yes

[@yvsh]

Always wondered how UPI within such a short span of time became so prevalent in our lives and how it sustains the 0 fee model. Great video and explanation!

[@Manikandan-ji9jv]

Every payment merchants supposed to pay certain percentage after the threshold limit to UPI totally it is not free its free to general public for wider adoption to dominate foreign players

[@user03892]

👍

[@eknag106]

Feeling amazed after knowing how much thinktank has work on this revolutionary move,and efforts towards Indian growth by BJP government. Congress has never done such revolutionary moves,I haven't heard or saw.

[@nameisnirmal]

Rupay was introduced in 2012. BJP hasn't done any revolutionary move here. Yes they didn't screw this up, which is good.

[@jarp5581]

All the work done by BJP You are converted piece of sh**

[@tourmelion9221]

@@nameisnirmal they did help it and subsidize it so that the poor can use it free of cost, you got to give it some credit for that, my government would, actually, it has done the opposite, they just taxed the poor more to pay for covid, they're working for you, that deserves praise

[@akarshpathak6105]

@@nameisnirmal 😂🤣🤭 laughing on you.

[@pm6050]

@@nameisnirmal hi chamcha of congress

[@PuneetMehra]

Guys, after seeing how the West has frozen all Russian money, it becomes very very important to start using Rupay , BHIM more and more. and decrease using Visa, Mastercard. We need to be self-reliant, more so becaue we are pro-Russia. We are in a dangerous space right now. I request all of you to use Domestic Indian payment modes more and more.

[@allenqueen]

Why are we pro-Russia? Even China, the biggest competitor of USA is silent. This Russia of Putin is not the USSR of the Cold War era.

[@vinaybhat7670]

This is why i love current government...they r trying their best to make our country stand tall against all world powers.. UPI, Rupay are crown in their achievements..

[@stillunknown5785]

Hmm No body can Deny it

[@siddharthbhattacharya8931]

@@stillunknown5785 librendus and jamatis will

[@stillunknown5785]

@@siddharthbhattacharya8931 it's human psychology (agar tumhe bura lagega toh log chidayenge hi ) aur insaan ko ye bhi dekhna chaiye ki Ab GDP aur economic growth kya ha aur mehangayi kitni jyada badh gyi ha aur Sabse main baat ki Hatred kitni bhad gyi ha (Islamic extremism khatam ho paya ab Hindu extremists aagye ) har muslim ko ham galat Nazar se dekhne lage (Ham andhe ho chuke hain agar koi hizab ka support kare toh ham kahenge ki wo bajrang dal ka Karyakarta mar gya use bhi dikhao ,) pehle itna jyada hate nhi tha jitna ab ha - ab toh agli baar kejriwal ko dekhenge ......

[@stillunknown5785]

@@siddharthbhattacharya8931 Sabse main cheez aaj kal modi ji ke khilaf bolo toh anti-national 🤣🤣

[@stillunknown5785]

@@siddharthbhattacharya8931 ab mene tarif ki toh mein sahi hun ab burai kardi toh jamati and liberandu bhi bolden

[@swagatamdas4815]

We can thank the current government for revolutionizing digital ecosystem in India.

[@anniejapan2306]

kzbin.info/www/bejne/anbGe52MnrKgipY🍑

[@Gauravkumar-jm4ve]

Right

[@07shari]

Hi friend, just try to know when was the Rupay plan came into existence

[@masthan001]

@@07shari bhakths wont talk about that! this bhakth whos put video shows as if all of these happened after may 2014!

[@Hbjbsisbehsbsj]

@@masthan001 andhnamazi starts crying...!

[@kennethferland5579]

Good for India, the Payment processors have overcharged EVERYONE for decades, maintaing percentage based fees which made sense when transactions were done by phones but are completly unjustified under modern digital systems. In America the card companies refused to lower these rates but isntead competed with 'cash back' systems in which large chunks of the fees charged to merchants go back to the customer. But all merchants price their goods equally fro a cash or cashless transaction, so cash customers are basically subsidizing cashless ones. Payment networks should be seen like a nations postal service, a piece of infastructure that should be run for the public benifit of stimulating commerce, not as profit centers in themselves. I see no need at all for private companies to squeeze profit from other peoples actual commerce, it is no different then a man collecting a tool on a road that was built ages ago and has been fully paid for.

[@fabregas581]

Bro you are national asset , please do not move over to foreign soil! Your content , presentation skills, verbal ability is marvelous. More power to you and your team.

[@aceankit2009]

Wow excellent video. Never realized that Rupay was this big and so transformational. First with UPI and now with Rupay NCPI is changing India. I live in the Netherlands and they have nothing like UPI here

[@TUMTUMTUM981]

This day and age belongs to HINDU lions, finally Hindu lions are waking up and standing up to the bullies.

[@Dennis56781000]

RBI also put out a notification telling Visa and MasterCard to setup servers in India, which they resisted. MasterCard, Amex and Diners Club were blacklisted from issuing new Credit cards. I believe India's insistence on securing payments data was one of the important considerations behind its offensive against these card companies.

[@anniejapan2306]

kzbin.info/www/bejne/anbGe52MnrKgipY🍑

[@gopinathchowdary8483]

That's newa for me and also great news ... feels more secure than ever !

[@oomz1975]

Brilliant move, take the hassle of the dollar out of the equation.

[@ktsaravanan]

Proof?

[@oomz1975]

@@ktsaravanan all over the Internet.

[@ozvenkatachalam]

Fantastic video and it is great to see how India is zooming forward through a Govt that cares for the people. Well done Modi &gov

[@Ayush-wd6li]

My respect for current govt increased ❤️❤️after knowing how much they care for lower section of society.

[@sandeepsrinivas7]

Thankyou Modiji for UPI, Rupay, and 4G. Jai Hind. Jai Bharat.

[@Deathwish_99]

btw cheap 4g is due to ambani

[@surajkumar-gx6gf]

@@Deathwish_99 this is because of Modi

[@aslammohammad5005]

india means Modi, Modi means India

[@0mvp0trophywalirakhiop9]

@@aslammohammad5005 masadallah kya baat boli hai

[@0mvp0trophywalirakhiop9]

@@Deathwish_99 lekin fir bhi katueey ambani ko hi gali dete hain

[@mohit_7462]

It happens when you have the government with vision and courage 👍🇮🇳

[@divyanshdwivedi9751]

@@Bollywood_Hater you are the people saying farm law is bad so government take it back

[@Dharmic_Republic_of_Bharat]

@@Bollywood_Hater Get lost gadhe .

[@balajikollipara8226]

Kudos to Think school for nicely explaining the difficult concept. Also the vision of central Govt to have Indian card operator for wider financial inclusion is extraordinary

[@andrewlambert7246]

Russia should have reacted earlier against the Master and Visa cards.

[@krishnachaitanya7435]

Digital India,e-Banking,Rupay,UPI, CO-WIN,Startup-India, E-Learning, EV's, Hydrogen Fuel, Renewable Energy. etc Anyone else noticed these development chain that our Country is embracing? Slowly & Steadily we're seeing some significant changes technologically & economically, In some areas like we're already #1 & striving to be the Best overall. Future seems bright for us❤

[@brahmajosyulavenkatasubram8605]

RuPay card is frequently getting blocked by the RuPay merchant Division and unblock is taking lot of time.

[@user-bd7pk9fr5q]

| e | hai toh mumkin hai

[@krishnachaitanya7435]

@@user-bd7pk9fr5q waah bhai 😀

[@danawhite7122]

@@user-bd7pk9fr5q PEHEL SOCAH YE KYA LIKHA H FIR BEHNCHOD 2 MIN BAAD SAMAJ AYA

[@sarithareddy2291]

@@user-bd7pk9fr5q wowww😁😁

[@sakshamsharma7226]

You just opened my eyes about how something good is also going on and every time I see your videos learn a new concept inspite be an engineering student I love your videos sir🔥👀

[@lalit3262]

Cool

[@waytosuccess18]

kzbin.info/www/bejne/fprUg6Owqs2Xo8U🎉🔥

[@ankitnautiyal2568]

As an engineering student, you must have e-commerce as a subject, perhaps in your final years.

[@anniejapan2306]

kzbin.info/www/bejne/anbGe52MnrKgipY🍑

[@sakshamsharma7226]

@@ankitnautiyal2568 I will definetly try for that

[@gaurav2777]

Kudos to the Indian govt. for this initiative. At times like this we all have seen the importance of self reliance. I just hope that all necessary measures are taken to fill up the lackings and this initiative succeeds because then India will gain a big upper hand in the financial sector of the world.

[@TheBrass18]

When the western powers shutting down SWIFT and visa/MasterCard options for Russia, India needs a alternative from those systems. Maybe, 20-30 years from India might do something in her self interest but is against the western powers Interest, India won’t be a slave to their sanctions if they enact them. All countries must develop their own banking system, for self determination and independence from any outside forces.

[@abhijeetbaruah8536]

Rupay and UPI will subsequently need to charge small portion of transaction fee, if not within India but to other government. As Capital is very much necessary in scaling a product and researching better ways. A different public-private company with private equity greater than 55% should be established for foreign services.

[@moviesenthil]

We should see what Nepal is willing to pay since it has adopted this.

[@vish2070]

Yeah we should target the middle East and Africa

[@anniejapan2306]

kzbin.info/www/bejne/anbGe52MnrKgipY🍑

[@shubham2094]

Finance minister Nirmala Sitharaman in Nov 2020 said banks need to promote only RuPay cards, and believes that with the card network becoming global, it is not necessary for Indian customers to be offered other cards.

[@nitinullas]

Is that wise? The govt shouldn't favour one entity over the other. That will discourage new foreign businesses to setup shop in India because they can't be sure when the govt will suddenly get josh and promote a local competitive business by making it mandatory for partners to provide them

[@sajidakadar9759]

What is the use, I had visa earlier, it was international, after expiry was given rupay which was for domestic use only. Rupay isn't welcomed in international payments. I had to suffer greatly while applying to universities abroad because they accepted only visa, mastercard and discover.

[@kvs1671]

@@sajidakadar9759 good point!

[@yvsnkk]

We should increase our self sustainance, increase number of transactions and value of transactions in our financial systems,only then we can push others to accept our systems Discover also is new , it is not widely accepted as well but it's acceptance started to increase off late because of its offers

[@knight_23]

@@sajidakadar9759 Exactly, if they r bullish about their companies. So should be us. It is painful for 10 yrs. But after that world will do what we say. We r 1/6 of globe, we should be respected.

[@dranzergigs8333]

This has become a bigger masterstroke seeing the withdrawal of visa and MasterCard from Russia.

[@thecorporatelabour]

Now when Russia has been imposed sanctions and Visa/Mastercard stopped their business there, we get to know the importance of our own Card Network System. We are becoming self reliant so that in future we can deal with such exigencies. Thanks for making this video at the perfect time 🙏🏻

[@FidelCastro404]

The war in Ukraine has shown us that the world is controlled by the West.. every facet of life, including sports bodies.. under US control.

[@JustVibes_JV.]

In 2018 I applied for Mastercard to replace my Rupay card. But, they sent me the same Rupay card. Now I know the reason behind😁😁😁

[@Gauravkumar-jm4ve]

😀

[@SuperSuspiria]

One of the benefits of having a Nationalist government at the helm.. Appreciate the efforts of channel in making such a wonderful educating video.

[@hieverybody4246]

You don't need to resort to fascism to set up a new payment processor.

[@Factsonmen]

@@hieverybody4246 yall clowns just randomly throw around serious words like fascism and then crib when no one cares

[@aakasoto]

@@hieverybody4246 Fascists live rent free in your brain.

[@hieverybody4246]

@@aakasoto Seems like they live in yours.

[@hieverybody4246]

@@Factsonmen Apparently you care enough to comment. :D

[@michaeljhones7214]

It's amazing achievement by India every country must replicate this digital payment mobile operating system New social media platform of there own

[@83robertk32]

This channel is amaaazing! Very Educative. Am learning alot from it. Some of the things and ideas mention here can be very progressive yet challenging but with capacity of changing many lives in India. Am looking forward to see how such things with little twist can work in my Kenya. With thanks and love.

[@shashankkulkarni993]

Fantastic..as a indian we should trust promote Made In India brand . Great job current indian government .. MADE IN INDIA ..

[@arulkumar4001]

Rupay ,UPI and jan dhan accounts are great step for digital india,good job by Govt of india

[@abhisheksinghal94]

Came across your channel accidentally. It's pure gold. Insightful and to the point. Loved it

[@kdaviswbai]

I wish we had this system in the US. It seems very humane. In the US the companies only care about profits not people. Perhaps the system can be maintained by levels. Giving people stages. Free in the beginning, but as they use the system to grow themselves, some % fee could be added. If done in reasonable stages the whole economy would grow. More people can build wealth and everyone could still get their feet in the door.

[@Midnight_Terrors603]

Rupay is going to make a revolution in the Indian banking ecosystem but India should have a capitalistic view . So, that banks can make profits through MDR . Your channel is awesome 👌

[@anniejapan2306]

kzbin.info/www/bejne/anbGe52MnrKgipY🍑

[@oomz1975]

Capitalist nations are in trouble once they start robbing their citizens (western world).

[@viswanathanharihara1]

During Feb 2014, Russia invaded Crimea, and as retaliation U.S. brought into force severe and crippling sanctions on Russian financial systems. As a result the American card companies, Visa & MasterCard suspended honouring their own cards issued to Russian citizens. Several Russian tourists visiting Europe suffered as a consequence. This alerted the Indian Government of Manmohan Singh, who as a precautionary measure wanted to have a card payment system of our own and RUPAY was launched. By may 2014 Modi came to power and took the digital payment system to dizzying heights in no time. UPI was introduced and Modi while visiting foreign countries lobbied for acceptance of this new Indian Payment system.

[@adityapourush7286]

Yes, very rightly said. This is why 'self reliance' is so very important. I also feel that politics and ruling party may effect the progress to some extent but actually the policy formation and the direction of the country rests in the hands of top bureaucrats. And I think india has vary good system of choosing bureaucrats. Governments may come & go but they are mere politicians and not the expert of any field or ministry they govern. All the policies are drafted by the IAS officers and alike bureaucrats who are expert in their respective field and hence i feel that india have a very good bureaucratic system which will eventually propel india to prosperity irrespective of the governments.Yes, but a good government will provide it tailwinds...

[@karanagarwal9256]

@@adityapourush7286 india has a good bureaucratic system? Bhai konse duniya main hai tu😂

[@adityapourush7286]

@@karanagarwal9256 kindly elaborate bhai, i really didn't understand what you are trying to covey😅

[@bharathratnani9532]

Aah, another Congress chamcha spotted. If MMS the mute "economist" and highly corrupt Chiddu cared about India's growth, India could have taken massive strides in a decade. So keep this magical BS theories to yourself. If whatever you're saying is true, it would have atleast deserved a mention here and in the parliament. Nothing of that sort happened. Cock your face son.

[@nabeelshariff6006]

@@bharathratnani9532 He literally typed what actually happened u cuck

[@tapaswinijena982]

where was this channel all my life...?? as someone who finds it way difficult to grasp political and business ideas this, video was a walk in the park. the entire thing was made so easy to understand and was so well researched.. hope you make videos like this in future.

[@sesh7357]

Excellent clarity and effectiveness in articulation. I commend and thank the speaker for helping me understand the "card" dynamics - also great to know that the Govt thought of such a large scale disruption towards financial inclusion!!! Terrific!!!

[@saksham6174]

You might like this current gov, or you might hate it. But say what you want, you cant deny that this gov actually tries new stuff. Whether it fails or successes, it tries to bring a change. Edit: There's a War going on in the reply section

[@prasanna037]

Well said.

[@sujoy456]

The truth is, the revolutionary ideas come from expert advisory panels in the government, whereas the failed ideas are mostly the short-sighted decisions made by our narcissistic pm, who thinks of himself above others. Sadly, he is always there to take the credit first if the project succeeds, even if it's someone else's effort. Demonatization is a prime example. The so-called 'revolutionalry' farm laws were also his own idea to help Adani and Ambani capture the agriculture industry.

[@unknown-ek7xp]

@@sujoy456 can you explain more about farm laws and how they are harmful?

[@narasimharao9492]

@@sujoy456 Demo is not such a failure as it is said.. today the real estate players are not ready to take money in cash in Bengaluru.. After demo,, many have realised that they can't hoard more cash. So that gets translated to holding other assets that can be better tracked.. Similarly it is Demo that gave the impetus to digital payments.. if not then bring this change or such startups like Paytm etc may have taken many more years to reach the local kirana shop. There were many issues in the implementation no doubt..

[@adityapandey4415]

@@narasimharao9492 he's calling others narcissistic while writing a very ill informed and ignorant comment, hmm "chakraborty" say no more.

[@thebharatiyasoul]

Ganesh sir your channel has created a great impact on young minds to look into the business and startups Great.. Keep growing. Lot of love from my side 😇😇

[@waytosuccess18]

kzbin.info/www/bejne/fprUg6Owqs2Xo8U🎉🎉

[@anniejapan2306]

kzbin.info/www/bejne/anbGe52MnrKgipY🍑

[@dazzjeongling8440]

it so nice to see India doing well. it makes me so proud.

[@outbackandabout]

This is THE BEST video I have seen which explains the payments ecosystem in such simple and comprehensive way. Hats off to you. I paused video to type this comment.

[@janyamarwaha2050]

man i am watching this channel for like a past few months and it has many time aroused me to do the homework and interest in business while I am still in mine teenage I just want to thank the team of Think School for providing us with insights

[@shreyashbaranwal9826]

As a teenager I can relate to you for this, I just gets so many ideas after watching these type of videos....

[@tanmoyeeghosh7180]

Me too. The past two years have been really exiting. Think school and Shark tank India just promoted my thoughts for having a start-up of my own.

[@devannnn7204]

Me too. 😊😊

[@tanmoyeeghosh7180]

Well, guys since so many people of the same age are interested in all this stuff, can we have the pleasure to know each other?

[@shreyashbaranwal9826]

@@tanmoyeeghosh7180 I think we can and we should

[@nischuAnchan]

That's why I like Indian democracy ,it doesn't let people from lower income group to be left down 😄

[@nabeelshariff6006]

Flashback to ppl literally dying bcoz the money they had in their pocket was no use

[@therightmedico6223]

I hate indian democracy.. I want govt like china so that only work will go on for development of our country without any chutiyapa like dirty politics,frequent election expenses

[@vimalprince4467]

@@therightmedico6223 you think there are no dirty politics within CCP? Also why would anyone in the right mind would want to live under a authoritarian govt?

[@anniejapan2306]

kzbin.info/www/bejne/anbGe52MnrKgipY🍑

[@ProGamer-vr7no]

@@therightmedico6223 bro china is controlled by a single party only ..... If no election takes place any party in India will become corrupt and we can't do anything about it coz there is no election.... Already parties are much corrupt imagine giving them uncontrolled power... However govt can schedule election dates in a proper manner like all the state's election will take place at one time only...

[@fazzifaz4449]

When my visa debit card was expired, my bank send me a rupay card! And I can’t even use it for Instagram ad transaction! But this video helped me to gain information related to what exactly is happening

[@Mayurkoli1]

Very nicely explained. Recently I went out in a different city and saw local female vendors who are making poha as a breakfast for locals & tourists near railway station early in the morning have UPI payment acceptance. She is accepting 15 rupees via UPI which shows how revolutionary this plan is. Hats off to our government.

[@justicedoesntexist1919]

This channel is providing knowledge and information we didn't know we need! Thank you for explaining in a manner that even a layman gets it.

[@rohitkashyap7476]

Social media capitalism.....selling you things you maybe don't need in exchange for your time.....

[@waytosuccess18]

kzbin.info/www/bejne/fprUg6Owqs2Xo8Wcttps://kzbin.info/www/bejne/fprUg6Owqs2Xo8U🎉

[@nva1719]

@@rohitkashyap7476 then capitalism rocks. Unlike socialism and commmushitism

[@rohitkashyap7476]

@@nva1719 Not really, unrestricted greed cannot be good..... That's why we have government regulations.....balance is important ...

[@enlightenedone2323]

Demonetization and UPI made people realize how convenient it is to to save the major chunk of your cash in bank account, especially to the lower income households.

[@vikalpverma9750]

Wooo. Such an argument when cash came back to its previous level. Lower income household , where did you see such example, apart from vendors there is close to very little use. One big reason is transactional use, person to person, which is quite low for that income group where cash in hand or bank helps in buying items. Without literate mass and a good running economy these idea find difficult penetration beyond person to company transaction.

[@brt3761]

@@vikalpverma9750 so what's your final stand then?, don't you want to use UPI and rupay?? and always go with the cash payments like a primitive 😂

[@enlightenedone2323]

​@@vikalpverma9750 One out of four households in the poorest 40% of India use it. Many have also stated that then want to use it but no one is there to guide them. One is four equates to 25% and 25% conversion rate is not only great but legendary. You are the type of guy who will congratulate someone on their victory but will never offer them help when they are in the early stage and struggling. People like you have confirmation bias. You will criticize each and every move of the Govt. because you think that makes you cool. ET Government Article Name: Digital payments well entrenched in Indian households across income groups: Survey

[@Sam-ee6iw]

@@enlightenedone2323 oh enlightened one please shed some light on economic and social havoc created by sudden announcement of demonetisation? Also when it was announced, the promise was to counter black money and reduce financial divide, can u to kind enough to throw some numbers for that? surely after 5 yrs there should be some sign like reduction of gap between rich n poor, money stashed in Swiss bank returning to India, improvement in India’s ranking in Corruption Index etc??? Or are you Apda mein Awasar kind - like ones who hail war to sell guns n bandages or celebrates Covid mismanagement to sell Drugs, Kits and Oxygen for a premium????

[@Sam-ee6iw]

@Unni Unni it’s even funnier when blind followers try to justify train wrecks by using vague n unrelated analogy , UPI would have succeeded even without demonetisation as digital payment eco system was maturing in Asia thanks to OTT provider, inter connectivity and smartphone penetration. Next u might applaud Modiji for 4G rollout in India 😀

[@MuraliKrishnaP]

after long time i'm commenting on a video. your explanation and data which you've collected and narration is simply awesome. what could go wrong, explanation also very nice.

[@neelvipani7417]

Post 2014, a golden age started for India ♥️

[@rgnandanshetty2950]

This is one of the few laudable and sensible move by this government which really helped millions to participate in the formal economic system…..great analysis video.

[@wisedesi442]

There are many but glad you found few.

[@Paapi_purush]

You're blinded by your hate for modi look around he's really transforming India: *Dfc dedicated freight corridor is almost completed *India's tops in building highest km highway per day *Building airports in major cities *Connecting north east with mainstream India many NE militant organization have put down their arms after onset of bjp *Removal of 370 *Military budget is increased tremendously . Air Force was literally using flying coffin-mig21 before bjp there are two squadrons of rafale in India now . S400s have already arrived *He's vaccinated 97% of entire fūcking 1.4 billion people with single doses. Had upa been in power Indian would have seen. मौत का नंगा नाच *Before 2014 less than 46% had toilets . More than *600 million* yes 60 crore toilets had been made after 2014 *50 millions gas connections were given to rural areas people under प्रधान मंत्री उज्ज्वला योजना *Isro reached new heights under bjp due to enough funds provided bow down to him he's done more for this country that u ever had in your worthless piece of shit called life

[@DhruveelDave]

Next video should be: "How Think School is killing the KZbin game with art of thumbnail making...."

[@lalit3262]

Yea thumbnail is pretty cool

[@abhitiwari5346]

never got influenced by any youtuber in a single video, but bro you have earned my respect.

[@idunnomyname8417]

Just imagine if all ministers are chosen by their knowledge like this guy Then he should have been The Financial Minister of India..

[@ShinAkuma]

Bruh..making a video and making a strategy that affects the whole damn country is a very different thing.

[@letsgroove349]

Discovered your channel just 2 .3 weeks ago and since then I m watching almost...2to 4 video a day , the crisp knowledge and insight you provide are just 🙌🙌.More power to you ✨

[@theinappropriateguy5806]

This government is building strong base Hope we will have a great future

[@Gauravkumar-jm4ve]

Yup if this government stays!!

[@moazen6654]

If this govt stays for next 10 to 12 years

[@benba8342]

In addition the price reduction of no longer needing to mint/print physical currency for that amount of transactions is likely bigger then the amount goverment has set to subsidize the Rupay. Also tax collection should increase. In effect the volume of transactions allowed gov. to launch this service. But I hardly see any case for it to expand outside the borders and maybe Himalaya region.

[@ramyasri6093]

Thanks for your content.. This is my second video& the knowledge you have is amazing. The way you analyze is excellent. if you don't mind can you please share how you do your research& your qualifications?

[@venugopal6405]

Super schemes.... All these scenarios will change if non - NDA comes to power. Hope they won't come to power, especially UPA.. First SBI has to issue Rupay cards as it is public sector bank

[@pavanpadmanabhan1911]

One of the best KZbin channels. The detailed explanation and a new concept everytime is just amazing. Have learnt a lot from your videos. Keep up the awesome work 🔥🔥

[@veertbh]

Such and informational video bhai, you spoke flawlessly, kudos!

[@aniketgupta7953]

Most informative 15 minutes which I had ever spent on watching videos on youtube....thank you for such a informative video.

[@neverpayingtaxes]

You are doing something wrong

[@jagadeesh_yadav]

If everything goes well the next two years will be a game changing for rupay as it'll use a discounted businesses model to get profit and make it a strong player in international

[@pokemondex4089]

After a long time I am seeing positive video about Our COUNTRY without biased with any political parties. Thanks for the info☺

[@shreyanskothari9096]

Very well made video, was hooked to it till the end.

[@lowlife_nolife6047]

Things like these that don't seem revolutionary at the beginning but are now having an Impact on India's economy , are one of the big contributors in India's rise.

[@gautamlapsiya]

Wooh..what an amazing information overload. I have to see the video twice, pause it, and replay many times to understand the whole situation you just presented Mr. Prasad. God bless you, for all your hard work and spreading the knowledge.

[@MrrajanT]

Thank you Think School. We could able to find the real dimensions, behind the Card transactions and money circulation. Besides, the method of data collection from India by American Govt. is also explained well. Wonderful eye opener for all card users especially in India. Appreciated for your clarity as far as your language as well as the subject. 👋👋👋

[@sharan50000]

Well done Young Man. Brilliantly explained. Keep it up and best of Luck

[@paperroman8345]

This government's make in India push , PLI scheme , push for Indian Defence industry etc have been revolutionary and much needed !

[@mirchi2510]

An excellent and a very informative video. Clearly explains how India catapulted itself into this area and leading way for many more countries. UPI and Ru-Pay has truly revolutionized the payment industry in India

[@sharanabasavachinchiriki8327]

That's why Modi is the best PM for India until now with a strong and intelligent team of ministers ❤😊

[@jarp5581]

Jai Shree Ram 🔥🇮🇳🔥🚩🔥

[@Gauravkumar-jm4ve]

Agreed

[@danawhite7122]

TUE, BUT MANMOHAN SINGH BHI ACHA PM THA IN TERMS OF ECONOMY , TOUGH TO CHOOSE BW THEM

[@gopi7218]

@@danawhite7122 Manmohan Singh economy miracle is all a bubble caused by high inflation

[@nagarajbelgavi2831]

Very informative video. I can appreciate how much research had gone to come up with such analysis and sharing facts about the government's wonderfual initiative. RuPay will become a game changer for indian financial system.

[@avinasharma612]

loved it and thank you for helping us gain knowledge on our banking system

[@beroozgar4502]

Dear ganesh, your videos are really educational, just to add a bit, please if possible, try to explain some of the business terms that you use in your video, it will be very helpful for viewers like me who are not from business background.

[@SiddharthaGhoshSid]

Its so refreshing to seee such an unbiased and rational video on KZbin! Keep it up! I followed your channel and I am super impressed and looking forward to more such great content.

[@maheshbathija475]

The quality of content on your channel is mind blowing! 👏👏

[@sriharshac510]

I am also proud of this for another reason. Seeing what they (Visa / MasterCard) did to Russia during the ongoing conflict, I am grateful that we have Rupay. Every foreign business should have at-least one Indian provider that can do the same. Hope this will be extended to weapon manufacture as well.

[@71rajat]

People who say Modi has done nothing are absolutely incorrect. He transformed each sector and made the country powerful.

[@zeeee_yt]

But even then, a lot of people holding good educational qualification, fail to see these transformations and abuse/bash him on social media platforms 🤷🏽‍♀️

[@nolanld]

UPI and RuPay is not Modi’s doing 🙄

[@prashantkrishnan5856]

@@nolanld who pushed it?

[@nolanld]

@@prashantkrishnan5856 RBI did in 2012

[@atharvar]

@@nolanld plz clear your knowledge.... Read and search about it. Criticizing is good thing but you should appreciate too.

[@AbinBaby28]

One strategy was banks were not issuing visa/master cards for normal customers. 2 of my banks denied when I asked for Visa card. Then I had to strongly argue with banks that I need to make international payments and I needed a visa card. This was back in 2017/2018

[@Manik_khanna]

"I needed a visa cars to finally have a visa card" Just quoting your sentence

[@thewitness6953]

Exactly

[@waytosuccess18]

kzbin.info/www/bejne/fprUg6Owqs2Xo8Wcttps://kzbin.info/www/bejne/fprUg6Owqs2Xo8U🎉

[@anandmk99]

True, payments on Apple store and other international brands require Visa or Mastercard.

[@angshusvlogs2189]

@@anandmk99 you can make payment through upi to apple store online