alt Hacker NewsWhen India moved to UPI in the last few years something very interesting happened. The same devices that accept UPI (usually some android based POS) also accepted a plethora of cards. Previously merchants would be hesitant to take anything other than cash or charge 2% for visa/mastercard. But with wide adoption of digital payments they now just accept any payment with the goal that they don't want bad reviews and/or lose customers.
Point being that with a cheap alternative, it's actually much more convenient now to use a Visa or Mastercard especially with tap to pay because with competition being so high, the diversity means people allow all payments.
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You mean that the 2% something visa/Mastercard demand, is far more digestible by merchants when it doesn't represent the majority of their revenue?
I was there when this started to roll this out - I remember a lot of nice pine labs payment terminals - it was really nice that I could begin to depend on my American Express card there more than trying to finagle cash (2000inr bills get you a lot of frustrated service workers). I say AmEx because they tended to work much better than my visa there.
> But with wide adoption of digital payments they now just accept any payment with the goal that they don't want bad reviews and/or lose customers.
My experience is opposite, Now with UPI which 99% of people have access to there is no incentive for people to accept Credit Cards.