Mobile Payments: How Speed Became A Winning Edge (and Taught Me About "The Winning Edge Concept")
Money transactions become frequent nowadays and paying electronically has become new norms now. Cards became outdated and UPI became the most favourite mode of payment in India. For those who don't have any idea about UPI, it's Unified Payment Interface created to make the transactions hassle-free. As a user of major 3 UPI apps for almost more than 3 years and also tried 3 core banks UPI solutions, I have seen some advantages in UPI apps. The common advantages are adding multiple accounts and internal transfer between the added accounts are simple and easy. But one of the competitive advantage I noticed is their speed. The UPI apps QR recognition speed is much faster than the core banks UPI l interfaces. One might think what difference it would make if it is just a few seconds. Let me take an example, In a country like India, if you are standing in a queue, in a shop or in a gas station, it would usually be a long one. The time taken by each individual to complete the transac...
