Hacker News new | ask | show | jobs
by villgax 1128 days ago
In case you are not aware, UPI is basically a rebranded IMPS with Venmo style of address. Until UPI actually works internationally it is still a domestic payment system.
2 comments
hestefisk 1128 days ago
Singapore’s PayNow interfaces with UPI as well as PromptPay (Thailand). It’s only a matter of time before these payment rails get interconnected and SWIFT is history.
link
nooby12345 1128 days ago
Who built the IMPS?
link
villgax 1128 days ago
Technically based off the same network as ATMs by IDRBT, https://en.m.wikipedia.org/wiki/Institute_for_Development_an...

Unified Payments Interface is built on top of IMPS, with the key architectural work done by the Mobile Payments Forum of India, IIT Madras and IDRBT

It is managed by the National Payments Corporation of India (NPCI) and is built upon the existing National Financial Switch network.

link