European Payments Initiative (EPI)

Re:European Payments Initiative (EPI) by mohanmcgeek on Thursday September 02, 2021 @11:13AM (#28393048)

This sounds very similar to India's UPI.

UPI has been a great convenience for people since its introduction and it has a very good penetration.

https://www.npci.org.in/what-we-do/upi/product-overview

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Re:European Payments Initiative (EPI) by Abishek_Muthian on Friday September 03, 2021 @02:10PM (#28407416)

Yes it's indeed modeled after UPI it shows how forward thinking it was and great execution as well.

My qualms with it are its is association with mobile number as identity and lack of open-source apps both a limiting factor when it comes to preventing oligopolies or monopolies from influencing control over it.

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Re:European Payments Initiative (EPI) by payme on Thursday September 02, 2021 @11:43AM (#28393498)

While UPI is completely online, EPI looks like it's working on a card based solution (which makes it a competitor to visa & mc)

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Re:European Payments Initiative (EPI) by Abishek_Muthian on Friday September 03, 2021 @02:12PM (#28407441)

In a sense it was created to limit the influence of duopoly card processors on Indian Internet payment systems and were successful in it; So UPI is indeed a competitor to VISA and MASTERCARD.

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Re:European Payments Initiative (EPI) by mohanmcgeek on Tuesday September 07, 2021 @12:06AM (#28440826)

Rupay is from the same corp as UPI

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Re:European Payments Initiative (EPI) by ratherlongname on Thursday September 02, 2021 @01:01PM (#28394511)

Yeah, UPI is an absolute godsend. EPI looks heavily inspired by UPI. Somewhere I read even USA is looking into a similar system.

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