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sudshekhar | 2 years ago

More than connections, you need luck and persistance. The process itself is doable. But not easy.

These are the steps you'll have to follow if you plan to launch a new UPI app:

First, you'll finalize the business plan + team.

Second, you'll have to find early investors and backers

Third, you'll have to find a banking partner to work with

Fourth, you'll have to develop the product

Fifth, you'll undergo certifications and audits by RBI approved third parties

Sixth, you're app will be tested by officials at the NPCI

Seventh, Now you go live

Only after step 7, do you get to know if customers will buy your product.

Or if the entire effort goes to waste.

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potamic|2 years ago

That's interesting, that you have to develop the product upfront before getting a license. Does that mean you also need to get approval/permission for any changes you make on the product going forward?