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:
- OTP less payments
- 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?
Google wallet isn't available in India just yet
I have it installed on my phone. Seems to be just a pass/card collection app for now.
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
Rupay UPI commissions are higher than any CC
A country where cybersecurity is taken for granted, sure.
To use tap and pay there are lot of apps -
- Samsung Pay
- Google Pay
- CRED
Samsung Pay supports tap to Pay via smartwatch(galaxy watch) as well
One can directly download an apk and sign in to wallet It's not much beneficial atm