Which of the following is a most likely consequence of implementing the ‘Unified Payments Interface (UPI)?

1. A. Mobile wallets with not be necessary for online payments.
2. B. Digital currency will totally replace the physical currency in about two decades.
3. C. FDI inflows will drastically increase.
4. D. Direct transfer of subsidies to poor people will become very effective.

Answer: A

Explanation

UPI is a payment system that allows money transfer between any two bank accounts by using a smartphone. UPI allows a customer to pay directly from a bank account to different merchants, both online and offline, without the hassle of typing credit card details, IFSC code, or net banking/wallet passwords.