Shenzhen Rakinda Technologies Co., Ltd.

Mobile Scanning Payment has been a very popular topic among some big LOT companies now. Google is awaiting approval from the Reserve Bank of India (RBI) to integrate its digital payment service, Android Pay, with the Indian National Payment Company (NPCI).
NPCI said that in addition to Facebook and WhatsApp to discuss with them, Amazon and Uber also began to look to India’s new generation of online payment system “UPI”.

The potential of the Indian market
According to the new India Express reported that Google has completed the UPI technical test, will soon enter the Indian mobile payment market.
Developed by NPCI and launched in April 2016 UPI, the e-mail address, mobile phone number and authentication code combination, so that online transfer and payment more secure and convenient by phone to scan the code in front of QR barcode scanner.

In the rapid growth of the Indian financial market by the world attention, Google lightning into the Indian market. Last year, Google set up a financial information site “Bharat Savers”, and help Prime Minister Modi’s financial reform, to consolidate and promote Android Pay and UPI compatible strategic basis.

From the perspective of population size, gross domestic product growth and expansion of the financial system, India is another huge market after China. It can be said that international enterprises have entered the Indian market is the inevitable phenomenon.

NPCI CEO A.P.Hota announced the current situation with Google negotiations, revealed that Facebook and WhatsApp are also negotiating UPI-based mobile payments, while Amazon and Uber have been UPI payment technical tests.

It seems that although Google may be the first IT company to pay for crabs in India, it’s not clear what RBI’s waiting time to approve.

Hota CEO evaluates the overall risk that a large company is involved in the payment market as RBI and talks with companies such as Google to negotiate with a number of financial institutions to open a partnership after RBI review The Facebook is considering the “Facebook Messenger” and UPI integration is said to be in the preparatory stage of negotiations. WhatsApp has already started negotiations. But because the final decision is made by the Indian central bank, no one knows which companies will successfully enter India’s mobile payment market.

“The UPI that Uber praises for the future of the Indian payment system,” says Alan, a freelance writer in the UK, will fundamentally reform India’s financial industry, and I expect India and China to move forward. ”