7 Reasons why Google thinks India is better than US in digital money

What can be termed as a big compliment for India’s Unified Payment Interface (UPI), search giant Google wants US Federal Reserve to implement a similar real-time payments platform. The letter (dated November 7) has been written by Mark Isakowitz, Google vice president, government affairs and public policy, US, Canada to the Federal Reserve Financial Services Policy Committee. National Payments Corporation of India (NPCI) built India’s UPI system.

Google has also shared details of its learnings from the UPI with the US government. The company also shared the success of its payments app, Google Pay, in India. „Google has been a successful market participant in Indias use of UPI, and Google Pay provides one of the three leading mobile applications that use UPI, as measured by transaction volume,“ the letter elaborated.

Here are the reasons Google thinks India needs to emulate India’s digital payments system …

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