UPI Autopay Pushed by NPCI CEO After Elon Musk Announces $8 Blue Twitter Service for Verified Accounts
Even as a debate rages over Twitter’s decision to charge users for ‘blue ticks’, NPCI has launched its UPI auto-pay offer to settle monthly payments . National Payments Corporation of India (NPCI) CEO and CEO Dilip Asbe responded to a tweet by billionaire Musk, saying UPI’s recurring payments service already has 7 million users. “Don’t worry, India has UPI AutoPay (7 million newly approved collection mandates/month) to collect anytime/monthly/quarterly or yearly as you want on dear Twitter,” Asbe wrote in response to Twitter’s tweet. Musk, also tagging the microblogging site.
“For all complainers, please continue to complain, but it will cost $8, (about Rs 660)” Musk said in a tweet on Tuesday.
The NPCI-operating Unified Payments Interface (UPI) has been at the center of India’s digital payments story and has taken alternative electronic payments to newer highs.
Twitter has been giving ‘green ticks’ to public figures and well-known figures for many years now. The change of ownership first led to speculation of a $20 monthly fee (about Rs 1,650) for the coveted presence and was later confirmed by Musk himself to be $8.
Musk blasted the ‘current system of lords and peasants for those with or without the blue checkmark’, using one interpretation.
“Power for the People! Blue for $8 per month,” he tweeted, adding that country-adjusted prices correspond to purchasing power parity.
For that price, he says, users will also get priority in replies, mentions and searches, which he considers essential to defeating spam/phishing, as well as the ability to post videos and long audio, half the amount of advertising and wall fees. ignore for publishers willing to work with social media company.
He said monthly payments from users for the blue tick will also give Twitter a revenue stream to reward content creators.
