New age firms in payment space reluctant to comply with rules at times: Das
Complimenting the PSOs for the work done during the pandemic, Das said, during the pandemic, the resilience of payment systems was severely tested. But PSOs rose to the occasion and showed remarkable tenacity.
Meanwhile, he also touched upon the fact that having successfully implemented so many payment systems domestically on such a large scale, the time has come to expand our reach overseas. “Our home-grown payment products, UPI and RuPay network, are enhancing their global footprint. The launch of UPI linkage with Singapore’s PayNow is a major step forward. In future, such linkages with other countries will make cross-border payments simple, affordable and real-time. QR code  based merchant payments through UPI apps are already enabled in Bhutan, Singapore and UAE. All these would also help project India’s soft power at the global level”, he said.
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