alt Hacker NewsNot really, UPI is developed and operated by several large banks.
Maybe you were thinking about PIX in Brazil which is developed and operated by their central bank.
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chupchap • yesterday at 10:27 PM
I thought it was made by NPCI, which is owned by RBI, AND the IBA. It is ultimately a government organisation.
No. UPI. It's an initiative by the Indian government.
It's controlled by the RBI, just through a complex public-private corporate structure through NPCI.
UPI is much larger and more international than PIX. It's currently processing iirc something like 200 billion transactions. UPI is also used in several countries, France being among the most recent examples.
As such UPI has a broader scope than PIX and requires a public-private corporate structure with stakeholders from both sides.
But this is off topic. The competence of the Indian government to at the very minimum partner with Industry shows that such software preloaded on phones is a threat to the civil liberties of people that the State shouldn't encroach on. This is a violation of individual privacy.