[searchableguy]

In India, we have UPI and other forms of instant transaction system (all of them are free in any decent bank, I believe).

With UPI, you can connect your bank account (no matter which bank it is) with any UPI based payment app and create IDs which can be shared for receiving or requesting payments. (These IDs are unique on basis of both app and bank).

So I can connect my bank account to gpay and create a new ID. Send them to others who are using gpay or any other UPI app (bank apps also have UPI functionality built in). They can send the payment to the ID (which will be automatically added to my bank). This is instant.

It can also be used for requesting payment by others and I can accept or decline the request.

Alternatively, phone numbers can also be used to fetch the IDs a person has if you have enabled it (it's by default)