The Man Who Revolutionised Digital Payments In India!

ABOUT DILIP ASBE:
He Managing Director & CEO of National Payments Corporation of India (NPCI). He has played a pivotal role in designing, building, operationalisation and management of large scale innovative payments processingplatforms like Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), Immediate Payment Service (IMPS) and India’s home grown card network RuPay.
A man with a passion for technology and people, Mr. Asbe was the first employee of the organisation and he helped it grow to over 1,000 employees. Mr. Asbe’s achievements in NPCI include building high capacity platforms which are helping the nation to transform into less-cash.
ABOUT SHRADHA SHARMA:
Shradha Sharma is the Founder & CEO of YourStory. She started YourStory in 2008 to tell stories of entrepreneurs - something that mainstream media was not ready to do in 2008. Since then, Shradha has scaled YourStory to become one of India’s leading digital media platforms covering every aspect of India’s new economy.
She was featured on Fortune’s list of the best 40 under 40 entrepreneurs in India for three years in a row. In 2018, she won the Forbes Power Trailblazers award and was twice featured on LinkedIn’s list of powerful influencers, along with Prime Minister Narendra Modi and actor Priyanka Chopra.
Follow Shradha on LinkedIn here: / sharmashradha
ABOUT YOURSTORY:
YourStory is India’s biggest and definitive platform for startups and entrepreneurs related stories, resources, research reports, and analyses of the startup eco-system, mobile app developers, and more dedicated to promoting the startup ecosystem
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[@yourstorytv]

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[@neerajwa]

UPI is first unparalleled world beating product from India. Something so stellar and so awesome that it truly leaves every other nation behind in dust.

[@Ckbagchi]

A big congratulations to all team members which are part of UPI. It's really a big achievement for India.

[@anitakalgapurkar8025]

Great achievement. He has changed the way Bharat transacts. It has made Bharat digital savvy.

[@s-qc9ns]

He and his team must be given an award🤩

[@PG24108]

Thank you for revolutionising digital payments in India. Your contribution has made a significant impact on our daily lives. We are grateful for your innovative vision.

[@anildamodaran]

For reference - Dilip Asbe is the managing director (MD) and chief executive officer (CEO) of the National Payments Corporation of India (NPCI)

[@GirishJois]

UPI has catapulted Bharat to the top of the comity of Nations 👍✊🙏

[@sriranga1000]

He desrves padma award

[@koljoy]

When it comes to UPI transactions, there are potential issues that need to be addressed. For instance, what happens when a payment gets stuck during a hotel check-out or when someone is making a last-minute bill payment? It's important that the system provides clarity and ensures that payments are either completed promptly or remain securely in the bank, rather than being held in limbo for an extended period. It would be beneficial for both the seller and the buyer to have a clear-cut resolution process in place, where the funds are either successfully transferred or remain in the control of the sender until the matter is resolved. This would alleviate the stress and uncertainty that can arise when payments encounter unexpected delays or fail to reach their intended recipients.

[@Peaceforall1977]

Hi UPI team , Please take of this as this seems to be a genuine question! Prood of UPI product which is a great innovation from India that India has arrived on the world stage!🙂

[@viki19910]

Agree with you

[@humungous09]

Very good question and one that merits a prompt response

[@swaminathanshivakumar6454]

My salute to both of you

[@rpatel3935]

UPI a great Indians innovation. Now at markets or shops don't get fake notes or loose change .

[@gopaakrishnanmvenkataraman9129]

Knowledge democracy and digital democracy are twins Gifted by Bharat india

[@bandamashok9194]

Congratulations to you and your team for a tremendous innovation and making India proud and prosperous

[@AnkitG12]

Thank you for the much needed conversation.

[@shankarrajan8474]

Thank you YourStory for this informative session

[@raghavanmnairnair5465]

I am using UPI most of all transactions.

[@dmuchrikar]

Great man 🎉

[@prakashpatel104]

Obviously UPI helped India to make digital economy. But, I would ask a question to Dilip, why Indian is still very high on % Cash Transactions to GDP ratio in the world? Why use of Cash is still not reducing?

[@dannycbe949]

High taxes and corruption

[@sg042]

Cash usage in transaction as % of gdp has decreased but cash hoarding is high. Most of the black money is getting used in real estate and real estate transactions are not considered in GDP.

[@swanandpatil9675]

Mam its an amazing discussion insightful one but one suggestion please add time stamps of subtopics discussed for convineniece and easy access different points through them apart from it amazing though provoking discussion.

[@sudhiringle2925]

Why not all the Banks linked to phone pay for Bank statement . So the it's easy to get Bank statement in phone pay menus. 🙏

[@rashmiranjansamantray2636]

ସବୁ ଏକ ଅକେଲା ଓଡ଼ିଶାବାଲାର କୃତିତ୍ତ୍ୱ ତାହାର କୃତିତ୍ତ୍ୱ ସମସ୍ତେ ମିଳିମିଶି ହଡପ କରୁଛନ୍ତି

[@moviesclips5948]

Thank you

[@70manian]

I had a bad experience of SBI levying service charge for the use of Rupay credit via UPI. Not sure why? I was forced to close the card account within 2 weeks. How come the growth is expected given these kind of additional financial charges being levied. Instead of a convenience, it is an inconvenience..

[@dt1944]

All I can say Thank you

[@VrkPeru-nw2uv]

Congratulations and Thank You to the TEAM behind UPI! While one team looks to build on this to enhance and extend, the youngsters should get their brains working on building similar products that can be sold through out the world.

[@anitakalgapurkar8025]

How did he get such a novel idea ,it is amazing.

[@shashankbisht2352]

Awesome Video 😊

[@chandrasekarankrishnamurth8673]

UPI has revolutionized India nay ,the whole world.

[@MuraliY2K]

Nice

[@user-qp5go8iq6h]

👌

[@chandrasekarankrishnamurth8673]

It is true.

[@guyravis]

I don't understand why people talk Millions, instead of Lakhs.

[@ravib2303]

What about VISA....IF EVERYONE USE UPI

[@AnuragSinha7]

Well they can leave serving Indians as have done after pokhran test and God knows how many times..

[@anikettripathi7991]

Why Bhim app doesn't have electricity bill payment options.

[@tarunjindal0403]

👍

[@sarvangthakar1902]

Upi mean cbdc and it mean people have no right for own currency

[@amanswain9246]

18:34

[@Rajan_Kr_Sahu]

HDFC BANK KE CEO KB AAUEGA Y STORY PR

[@techzone2009]

Developer's: am i joke to you 😅

[@fawa.z]

Only an oldie indie tech guy will keep a long upi handle

[@mohanrangasamy4846]

why will Fintechs invest when there is zero revenue in UPI

[@AnuragSinha7]

Then don't. Payment is public utility in India. And about start-ups they can gain users through payment and convert them through other services. But don't expect for payment to be charged, CC can have MDR for sure and it has.

[@satheesankrishnan4831]

A single person???? Behind this ..??? Even if .he should not have come out in public exposure..

[@rameshhariharan2623]

is cji knows that paper ballot lot of malpracticse done sofar in congress peroid, did chandrasud father helped congress to come up all the years, now the son is doing the same for congress to implement the ballot papar again, sure he will be sacked by pr of indiia

[@bhaskarsrinivasan1822]

sure, one day UPI going to rule the world fin

[@divagar8340]

Modi don't introduce UPI😢

[@sid1680]

Much ado about nothing. UPI is great when you really have a problem giving or getting change. Otherwise, it isn’t. It isn’t the only way either. Neither should it be the only way. That is truly inclusive. All forms of transactions should be allowed. Recently saw a discussion on the impact of UPI. Only affects about 3% of all transactions. Cash transactions still form the bulk. Cash transactions have actually doubled from 2012 or so. UPI or not, need to address the issue of honesty. There’s a dearth of it. Fintech and transparency cannot deliver the much needed honesty. Needs to come from within and without fintech and UPI. Let’s not celebrate and glorify mechanisms. Measure instead how far we are from our goals. Goals are not mechanisms. Like we keep marveling at the infra structure that’s been built and UPI and so on. We are just where we were a couple of decades ago. Much ado about nothing. More so because of social media platforms.

[@AnuragSinha7]

Really!? Are you joking? You wanna pay through cash and CC, you are welcome. For CC we have UPI for tap and pay we have UPI. It's structured and well organised now. And if cash is your preference then what to say 😂 Seriously come out of your bubble my friend

[@sid1680]

@@AnuragSinha7 I appreciate how excited you are about upi. I wish you well. I was excited too initially. But upi has drawbacks. It makes you so ready for a payment that it, more often than not, deprives you of the time to think through patiently and calmly in important payment decisions. Please think about it. I speak from experience. Upi takes money away straight from your account, mind you. There is no returning the money to the account if the payment is an error or is to someone who doesn’t make good the payment with proper goods or services. BTW, I already use upi wherever and whenever I feel appropriate. I have seen the data on upi transactions. I couldn’t digest it, just as you find it hard to do so. Trust me though. Data tells the whole truth when properly interpreted. So, I am not in any kind of bubble. Once again, some data points. Cash transactions were anyway much more than upi ones. Cash transactions have actually doubled from 2012, and are way more than upi based transactions today. Cash has its peculiar benefits. Except that, one needs to have plenty in hand when making a purchase. Nevertheless, upi has its own set of advantages too. Yet economists have concluded cash is better. Where upi gets used perforce is when change is impossible to get. Upi does help, but for a tiny percentage of the total transactions only. Again, the total number of upi transactions of over 100 billion in one calendar year is way too small for a size of population such as ours. There are other deterring factors to upi too. Our drawback is that we get swayed by little things: such as upi crossing the 100 billion transaction mark, upi being very quick and so on. These are only milestones. Like getting into test cricket is a milestone. Retiring from test cricket like Sunil Gavaskar is an achievement. Carried India’s batting along alone in his time. Data is critical. As well as its interpretation. Most data points are milestones, only a thin sliver qualify as achievements. Milestones tell us what more needs doing. Achievements tell us we can move ahead. BTW, credit cards are safer too apart from their ability to keep details safe and secure. In case anything wrong happens, the credit card company even gets you your money back.

[@sid1680]

@@AnuragSinha7 if it is successful and used widely, wonder why Amitabh Bachan is its brand ambassador. BTW, it was conceived and worked on around 2011/12. Ever since, it’s been thought of as yet another form of payment. It was known for limitations of privacy and possible unmindful readiness of a user to pay a third party. Banks use the CC or DC to verify a user. An interesting scenario.

[@rameshhariharan2623]

All cji wasting our money, and they enjoying dailys. they are clever fox fools, because the fox think he is great, no for fox also there is one day end with fools. lot of fools sitting and fooling themselves , what a shame.

[@sankaranarayananambalavatt5629]

🙏🙏🙏🙏

[@anildamodaran]

This trend of writing video titles, descriptions where the guest’s name is hard to find is HIGHLY frustrating🥲