[devnonymous]

The last section in the article speaks about RuPay but isn't this just one of the many implementations of UPI[1] ? In any case, imo, it is the start of the end for the duopoly and it is my hope that an truly open standard and protocol (unlike UPI) emerges (and no, the blockchain is not it -- crypto would just be accidental complexity in any potential solution).

[1] https://en.wikipedia.org/wiki/Unified_Payments_Interface

[umeshunni]

RuPay isn't an implementation of UPI - it's an alternate payment network like STAR etc in the US. As a matter of fact, it's only recently that RuPay and UPI were connected:

From 8 June 2022, RBI allowed the linking of RuPay credit cards with India's Unified Payments Interface (UPI). In the absence of a physical card, customers can use their credit limit through for transactions.

[vee-kay]

RuPay is debit/credit card as domestic alternative to Visa and MasterCard, while UPI is the digital payments platform. Both technology stacks are owned and managed by NCPI (National Payments Corporation of India is an Umbrella Organisation that facilitates services like UPI Payments, Bharat BillPay, RuPay Cards, FASTag, NACH, etc.).