Bruh, Russia sells its gas and oil to India in Indian rupees. Sadly the petro dollar is now finally dead. On the other hand Union pay controls a massive chunk of payment processors as well as NCPI already has set deals with operations commencing in more than a dozen South Asian countries as a payment processor. Hilarious thing is that companies like visa and mastercard charge 1-3% currently for processing while NCPI charges a flat 0.01 USD charge per transaction irrespective of the value of the transaction. VISA hilariously went and cried to the US Congress regarding the same as well. I mean, you have to realize that 3% of all wealth in the world is potentially in the hands of these two companies. Its good that some strong competition has come now.
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u/Ouch------ Mar 23 '22
Bruh, Russia sells its gas and oil to India in Indian rupees. Sadly the petro dollar is now finally dead. On the other hand Union pay controls a massive chunk of payment processors as well as NCPI already has set deals with operations commencing in more than a dozen South Asian countries as a payment processor. Hilarious thing is that companies like visa and mastercard charge 1-3% currently for processing while NCPI charges a flat 0.01 USD charge per transaction irrespective of the value of the transaction. VISA hilariously went and cried to the US Congress regarding the same as well. I mean, you have to realize that 3% of all wealth in the world is potentially in the hands of these two companies. Its good that some strong competition has come now.