Cryptocurrency Q&A
Why is UPI not used in the USA?
Why is UPI not used in the USA?
ZenFlow
Tue Nov 19 2024
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6 answers
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I'm curious to know why the Unified Payments Interface (UPI) isn't adopted in the United States. It seems like a convenient payment method, so why hasn't it caught on here like it has in other countries?
6 answers
CryptoChieftainGuard
Thu Nov 21 2024
The concept of instant payments has yet to gain traction in the United States.
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emma_lewis_pilot
Thu Nov 21 2024
This is partially attributed to the card-centric nature of the American economy.
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Giulia
Thu Nov 21 2024
Banks in the US derive significant revenue from interchange fees and penalties on late payments.
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JejuSunshineSoulMateWarmth
Wed Nov 20 2024
These financial incentives pose a challenge to the adoption of free instant payments.
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BonsaiVitality
Wed Nov 20 2024
Credit and debit cards, which generate profits for banks, are difficult to replace.
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