Re:UPI: India's Unified Payments Interface
by Abishek_Muthian on Sunday August 09, 2020 @01:55AM
(#24097558)
>So any other authentication mechanism (email or others) would see the usage plummet.
True, but Security > Friction; especially when it comes to hard earned wealth in a poor country like ours, where even daily wage earners use UPI now, especially because of COVID-19 induced lockdowns(COVID-19 themed UPI frauds for OTP are also increasing at the alarming rate for the same reason).
More over email is Federated, not owned by any single entity, I can run my own email infrastructure with minimal expenditure if needed. But for phone number itself I have to depend upon a Monopoly, Duopoly or an Oligarchy at best who if needed can screw me up if they want at anytime.
True, but Security > Friction; especially when it comes to hard earned wealth in a poor country like ours, where even daily wage earners use UPI now, especially because of COVID-19 induced lockdowns(COVID-19 themed UPI frauds for OTP are also increasing at the alarming rate for the same reason).
More over email is Federated, not owned by any single entity, I can run my own email infrastructure with minimal expenditure if needed. But for phone number itself I have to depend upon a Monopoly, Duopoly or an Oligarchy at best who if needed can screw me up if they want at anytime.