UPI and Digital Payments in India: Checkpoint 1

Quick checkpoint - five questions on upi and digital payments in india.

Question 1 of 5 Who built and runs UPI?

NPCI IRDAI CCI SEBI

It launched in April 2016.

Question 2 of 5 What is MDR?

A tax slab A type of bank loan Merchant discount rate, the fee shops pay for accepting payments A government scheme

UPI has had zero MDR since 2020.

Question 3 of 5 What should you never share?

Your city Your favourite app Your shop name Your UPI PIN or OTP

Banks never ask for it.

Question 4 of 5 Which foreign system was linked with UPI in 2023?

Singapore's PayNow Visa SWIFT only Bitcoin

UPI has also expanded to other countries.

Question 5 of 5 Which apps hold the largest UPI share?

Only bank branches Only Paytm Only WhatsApp PhonePe and Google Pay

NPCI wants to limit concentration.

We believe knowledge should be open to everyone, not limited by barriers.

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