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🚨NPCI has launched biometric UPI payments using FINGERPRINT & Face authentication🤯 ~ This eliminates the need for PINs. Users can also withdraw cash at ATMs using UPI biometrics. Each transaction is verified by banks through cryptographic checks. Next Gen Fintech Revolution👏🏼

145,860 görüntüleme • 11 ay önce •via X (Twitter)

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The United States Govt has also complained about UPI and RuPay cards affecting the business of American Visa and Mastercard in India, which charge a transaction fee of 1-1.5%. Is this also a reason that the Modi Govt has decided to impose a transaction fee on the free UPI transactions, in order to cater to these demands? The surreptitious change in law appears to suggest so. NPCI IS IN PROFIT, THEN WHY IMPOSE A UPI TRANSACTION TAX? ● NPCI has shown a pre-tax operating profit of Rs. 1900 Crore. The Modi Govt earned Rs. 1000 Crore in tax from NPCI last year. In addition, NPCI’s balance sheet has Rs. 6119 Crore in hard cash. ● What then is the justification for changing the law and imposing a UPI transaction tax, except for foreign pressure at the cost of ordinary Indians? MODI GOVT’s & NPCI’s LAME-DUCK EXPLANATION OF INABILITY TO SUBSIDISE FREE UPI TRANSACTIONS IS A HOAX ● The lame-duck explanation of free UPI transactions and security protocols requiring Rs. 20,000 Crore annually as a reason for imposing a UPI transaction tax is not only hollow but exposes the malintent of the BJP Govt. ● Let us juxtapose this farcical argument with the profit of PSU banks in 2025-26, which was Rs. 2 Lakh Crore (PIB Press Release Dated 29th May 2026). ● RBI also transferred surplus funds to the Modi Govt to the extent of Rs. 2.86 Lakh Crores for the year 2025-26. ● Even leaving this aside, PSUs/Private Banks earned Rs. 57,259 Crores only by way of Minimum Amount Penalty, Debit Card charges & Account Maintenance fees as per a Rajya Sabha reply dated 28th July 2026. ● Also, NPCI has a pretax operating profit of Rs. 1900 Crores and hard cash reserves of Rs. 6000 Crores. So this demolishes the entire Subsidy Argument being given as an excuse for imposing UPI Transaction Tax.The hoax is writ large. NATION DEMANDS ANSWERS!

Randeep Singh Surjewala

15,492 görüntüleme • 12 gün önce

#WATCH | Bengaluru, Karnataka: On UPI MDR transaction charges, Chartered Accountant Mohandas Pai says, "The recent decision regarding MDR and UPI is a welcome move. It is important to look at the data: 96% of UPI transactions will not be affected by MDR at all. Because roughly 70% of all payments are person-to-person (P2P)—which carry no charges whatsoever. The remaining payments below ₹2,000 are also completely exempt. Only transactions above ₹2,000 will be subject to a nominal MDR. It is important to clarify that MDR is not a tax. It is a payment made to the banks and payment providers, similar to how credit cards work. When you use a credit card, merchants pay a processing fee to the credit card company and the bank. Furthermore, if someone needs to make a payment of ₹2,500, most people will simply split it into two smaller payments. By paying ₹1,500 and ₹1,000, they easily remain below the ₹2,000 threshold. Why is MDR required now? We operated under a completely free regime for a long time, placing the heavy burden of investment entirely on banks, fintech startups, and digital payment companies. The financial losses and capital investments required to maintain this infrastructure have been huge. In the past, UPI experienced transaction failure rates as high as 15% to 30% due to sudden surges in volume. With transaction volumes expected to grow from 24 billion to 50 billion in two years, the entire IT infrastructure must be upgraded to support real-time processing. Who is going to fund that upgrade? If banks bear the entire cost, it ultimately impacts depositors. Instead, the cost will now be shared by merchants who directly benefit from offering online payments..."

ANI

130,121 görüntüleme • 12 gün önce

This is so insane Wells Fargo has a real US patent titled “Smart Dust Usage” It’s a system for using tiny airborne microelectromechanical systems, commonly called “smart dust,” for biometric authentication during financial transactions Patent number US11354666B1, granted June 7, 2022 I looked into this and it’s crazy The patent mentions sensors that will - Collect biometric data like heart rate, blood pressure, body temperature, motion, voice, images and more - Be released into the air near the user, like at a payment terminal - Compare that data to a user profile to verify identity before approving a payment Keep in mind this is conceptual, but this shows they are working on it The patent is for future technology. The patent itself is only about biometric authentication for payments, not programmable CBDC But you can see how this could be used for CBDC Once your identity is confirmed, the system communicates with the CBDC network. The transaction only clears if it complies with programmable rules attached to the money, Because the dust collects continuous biometric data during the transaction, the system could theoretically: - Detect “suspicious” behavior (elevated heart rate = possible coercion/fraud). - Link your purchase history, health data, political donations, church giving, books bought, etc., to your CBDC wallet. - Automatically freeze or reverse transactions that violate programmed rules. This is theoretical but you see how this could be terrifying

Wall Street Apes

36,539 görüntüleme • 4 ay önce

From Potential to Impact: Building the Future of Finance! Glad to addresses the 'Global Fintech Fest 2026' on Potential to Impact: Agentic AI - Tokenisation - Quantum in Mumbai, today. It was a pleasure to be back at the Global Fintech Fest in Mumbai, the financial capital of India and an emerging fintech capital of the world. Agentic AI, Tokenisation and Quantum have the potential to fundamentally reshape finance. The real challenge is to turn this potential into meaningful impact for people. India democratised payments through UPI. The next frontier is to democratise credit, investments, ownership and access to financial intelligence, so that an MSME in Kolhapur, a farmer in Vidarbha or a woman entrepreneur in Pune can benefit from the same quality of financial intelligence once available mainly to large institutions. Last year, a commitment was made at the GFF to work towards making Maharashtra the first tokenisation state. Today, that vision is moving forward through the DELTA Act, the Maharashtra Digitisation and Exchange of Land Token Assets Act which aims to create a legal framework for blockchain-based tokenisation of land and other immovable assets. Maharashtra’s strength lies in the convergence of finance, technology, AI, data infrastructure and innovation. While Mumbai brings a deep financial ecosystem, Pune brings extraordinary technology and engineering talent, and Navi Mumbai is emerging as a new centre for data innovation and global connectivity. With the vision and leadership of Hon PM Narendra Modi Ji, Maharashtra is building towards becoming India’s largest real-world test bed for the next generation of fintech. The next generation of fintech must democratise credit, intelligence, ownership and opportunity. We must aim for greater agency through agentic AI, productive capital through tokenisation, stronger trust through quantum and technology that ultimately expands human opportunity. GFF 2026 Chair Kris Gopalakrishnan ji, NPCI Executive Director – Growth Sohini Rajola, former Executive Director of RBI, G Padmanabhan ji and other dignitaries were present. kris gopalakrishnan Global Fintech Fest #Maharashtra #FintechFest2026 #GFF

Devendra Fadnavis

20,216 görüntüleme • 18 gün önce