Re:WhatsApp gives users an ultimatum: Share data with Facebo...
by vinay427 on Friday January 08, 2021 @02:41AM
(#25682523)
I think India's Unified Payments Interface is a better analogy here. From what I understand (as an outsider, so based only on what I've read) it provides a universal API for mobile applications to interface with banks, essentially standardizing the federation of bank transfers. Therefore, your account at bank X can be used to pay an account at bank Y for some service that uses app Z.
https://en.wikipedia.org/wiki/Unified_Payments_Interface