Why UPI should NOT be FREE?

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We've all used UPI and know how convenient, secure and quick it is. Rightly hailed as one of the best deep-tech innovations to have come out of India in this century, the success of the UPI model has made countries like France and USA study the financial payment system, with some like Nepal even adopting it. But a major reason behind UPI growing by leaps and bounds over the last couple of years has been the government's decision to make it free. It has made UPI the undisputed first-choice for millions of users and retailers across the country. But what if I tell you that UPI shouldn't be free, because in the long-run, making UPI free does the system more harm than good. In this video, we'll find out why UPI shouldn't be free, and if the government was to reverse its decision, what it would mean for users like you and me.

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Sources: https://docs.google.com/document/d/1t...

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Research:
Mohit Priyadarshi:   / mohitprior  

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Markers
00:00 Introduction
01:29 How UPI Works?
02:00 5 Step Process
03:16 Pros
04:37 Pro - Access to better data
06:13 Pro - Cash is expensive and insecure
06:57 Pro - Cash drives a Shadow Economy
07:29 Con - Unsustainable for banks
08:11 Con - Unsustainable for payment gateways
08:50 Con - Stifling of growth and Innovation
09:23 Solution