Anybody tried Google Wallet out yet? Would be cool if India moves to more NFC based payments via tapping phone watch. Thoughts on what's next for better payments in India:
Noticed that this phenomenon is just much more in other countries. Maybe cuz UPI is already so. convenient in India that a slightly smoother experience wasn't needed. But with most people wanting to use credit cards, these are the next 2 most important needs: 1) OTP less payments 2) Contact less payments via devices. Step in the right direction?
Gpay (the one with UPI) already supports NFC payments. Haven't tried to new-new-new-new Google Wallet app, though. Does it support contactless payments, too?
I have it installed on my phone. Seems to be just a pass/card collection app for now.
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But the problem is the merchant tax. Credit card machines take up a lot of fees and charges on transactions from the merchants but UPI...it's free for them. That's why the Rupay UPI is getting a good traction. It's the combo of both.
Correct, this MDR is true for low margin merchants. But it's stupidity to pay via UPI for high margin merchants / large value items as these already account for MDR in their price tags
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To use tap and pay there are lot of apps -
1. Samsung Pay
2. Google Pay
3. CRED
Samsung Pay supports tap to Pay via smartwatch(galaxy watch) as well
Pinelabs has an app for Phones with NFC to be able to receive tap n pay transactions, but they charge 2% to receiver so it's not very prevelant.
as long as upi remains free there is no desire for merchant to accept other payments.
One can directly download an apk and sign in to wallet
It's not much beneficial atm
