[Openid-specs-fapi] UPI. Was: Discovery & PAYM

Thu Jan 11 11:23:52 UTC 2018

Though the apps are built by the banks, the banks are playing the role of a
PISP in PSD2 speak. There is nothing stopping a non-bank entity to build
and UPI app. Also, just because the App is built by one bank does not mean
you would be limited to interact with just that one bank. The backbone,
UPI, would enable you to send payments to any mobile number in India. It
does not matter which bank the recipient's bank account is.

I am expecting a similar play here in the UK. Banks will become AISP/PISP
and start offering value-added services, either via their website/app or by
building a separate App by utilising the PSD2/OB APIs. I would not shrug it
off by saying it's a bank-specific app. This all comes down to the desire
of the banks to utilise this new infrastructure to their best advantage.

Thanks
Suhas

On Thu, 11 Jan 2018 at 10:48 Anders Rundgren via Openid-specs-fapi <
openid-specs-fapi at lists.openid.net> wrote:

> On 2018-01-11 05:06, n-sakimura via Openid-specs-fapi wrote:
> > Thanks.
>
> https://www.npci.org.in/product-overview/upi-product-overview
>
> "Banks have started to upload their UPI enabled Apps on Google Play store
> from 25th August, 2016 onwards"
>
> This is a thing that differs between current mobile payment systems:
> - The payment app is directly associated and/or maintained by each bank
> (The majority)
> - The payment app as well as the scheme depends on a Super Provider (Apple
> Pay and all the Chinese systems)
> - The payment app is Bank Independent (Sweden's "Swish")
>
> IMO, bank specific payment apps represent a dead end by introducing
> hassles for users as well as complicating concerted rollout of new
> scheme/API features, not to mention certification.
>
> FWIW, Saturn (my "pet project"), deviates from most of the current
> solutions by building on a Bank & Payment system Independent payment app
> concept, while the wallet scheme/API itself is decentralized.
>
> Anders
>
>
> >
> > FYI, here is the API documentation for UPI.
> >
> > https://docs.razorpay.com/docs/payments
> >
> > Nat
> >
> > *From:*Openid-specs-fapi [mailto:
> openid-specs-fapi-bounces at lists.openid.net] *On Behalf Of *Suhas Chatekar
> via Openid-specs-fapi
> > *Sent:* Wednesday, January 10, 2018 7:48 AM
> > *To:* Financial API Working Group List <
> openid-specs-fapi at lists.openid.net>
> > *Cc:* Suhas Chatekar <suhas.chatekar at gmail.com>
> > *Subject:* Re: [Openid-specs-fapi] Discovery & PAYM
> >
> > If it is relevant to this conversation then UPI in India (
> https://en.wikipedia.org/wiki/Unified_Payments_Interface) works in
> exactly the same way. It may be easier to find out how UPI works.
> >
> > Suhas
> >
> > On Tue, 9 Jan 2018 at 22:43 Dave Tonge via Openid-specs-fapi <
> openid-specs-fapi at lists.openid.net <mailto:
> openid-specs-fapi at lists.openid.net>> wrote:
> >
> >     Hi everyone
> >
> >     We discussed in one of the previous calls about a UK service called
> Paym: https://paym.co.uk/ and I agreed to send a short note to the list.
> >
> >     The discussion was in the context of CIBA which requires a user
> identifier to start the flow. The Paym system allows consumers in the UK to
> make payments to a phone number. I don't know the technical details of the
> system but essentially it allows for the discovery of account number and
> sort code from a user's phone number.
> >
> >     Such a system would enhance the usability of CIBA flows for payments.
> >
> >
> >     --
> >
> >     *Dave Tonge*
> >
> >     CTO
> >
> >     Moneyhub Enterprise <
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> >
> >
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> >
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> >
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