Time for UPI to break language and location barriers: Google Pay's Sharath Bulusu

While the Unified Payments Interface (UPI) has seen remarkable success globally, there is still work to be done to overcome barriers related to language, location, and gender, said Sharath Bulusu, Director of Product Management at Google Pay, on Friday.

Speaking at an event in the national capital, Bulusu emphasized the need to reach a broader audience that still lacks access to digital payments.

"UPI has achieved global success, but there's still significant growth potential. Many segments of the population still lack access to digital payments and financial services," Bulusu remarked.

"We need to break down these barriers -- whether related to language, background, location, or gender. We must approach this responsibly and inclusively through thoughtful design. Global recognition of UPI helps build confidence, making it easier for people to adopt it," he added.

Ensuring Equal Access to Digital Technologies

Launched by the National Payments Corporation of India (NPCI) in 2016, UPI is an instant payment system that enables inter-bank peer-to-peer and person-to-merchant transactions. It is operational in over 10 countries, with discussions underway in many others to implement it.

Bulusu highlighted the importance of ensuring equal access to digital technologies and services for all, regardless of their location or occupation.

"It shouldn't matter if you're a farmer in rural India or an employee in a city like Delhi," he said.

He credited UPI’s success to the collaboration between private companies, the NPCI, the Reserve Bank of India (RBI) as a regulator, and government support, alongside innovative private applications. "This is how the industry can genuinely make a difference in promoting digital inclusion," he noted.

Prioritizing Digital Safety and Education

Bulusu also underscored the need for educating users about staying safe online.

"Throughout the evolution of technology, we've had to teach users to secure their passwords and PINs. Similarly, with the rapidly changing digital world, it's our responsibility to guide and empower users at every step. It's unfair to expect them to navigate this on their own," he said.

Additionally, Bulusu announced new partnerships with Aditya Birla Finance and Muthoot Finance to offer inclusive and responsible credit services at scale in India.

On Thursday, Google announced collaborations with Aditya Birla Finance and Muthoot Finance to provide personal loans and gold-backed loans. The tech giant also partnered with credit score provider CIBIL to help users access their credit reports in a simple, intuitive way, according to Bulusu.

IANS