Another story on #PayTech from @TheKenWeb, this time on @BharatBillPay #BBPS and NPCI being a behemoth…. Time for thread again, full disclosure I haven't read @tam_arund piece since I dont subscribe.
First up some fact checking on email, tweets. Then some commentary about BBPS, then the larger idea of NPCI being the behemoth, what it means to industry, @CashlessConsumr and the whole data game.
First, commentary on the email from @r0h1n

// Because there’s just no telling when it will decide to become a competitor. //

They are in for it to super control the market, not compete. Even on BHIM in UPI, technically, NPCI is operator, the banks are the players market wise.
Bharat Bill Pay does not compete against Billdesk. They super regulate / control Billdesk. There is probably little truth to fact, NPCI's entry democratizing market and changing market shares rapidly. Its like bloated Aadhaar marketing. Large players will remain large.
What NPCI gets is, a centralization of data, semblance of growing the industry (bringing in more players on board), but in reality, only select few gets privileged access, open contempt for non banks and propogating #BankLedModel acting as quasi regulator, captured by interests
What NPCI gets is, a centralization of data, semblance of growing the industry (bringing in more players on board), but in reality, only select few gets privileged access, open contempt for non banks and propagating #BankLedModel acting as quasi regulator, captured by interests
//Because NPCI has not only come up with a bill payment platform, Bharat BillPay// NPCI didnt come up. RBI constituted 2 committees, IBPS, BBPS were envisioned, there was discussion of even seperate org, but NPCI captured it through power play, lobbying, what not.
//will create an alternative to BillDesk// BharatBillPay is NOT alternative to BillDesk, its a overarching platform built on top of Billdesk, which will platformize the solution, allowing other players to be in market.
Whats happening in #BBPS is not just platformizing & being overarching platform,but key component is data centralization. Read more @50pConf blog post on "BBPS — Making households data-rich" to get data/credit score aspects of it,links to RBI comm as well
BillDesk created an impenetrable. Who else was impenetrable in bill payments? Dingy player called TNEB who had 0 MDR across all banks, because who literally provides power to them? TNEB. How can banks play MDR game there to power company
Dont take my word, Look what NPCI said in its PR.
"TNEB is 1 of the unique billers joining the interoperable bill payment ecosystem for the first time". What most people don't realize is this is not just some bill payments market. Its data game, for credit scores & more.
#BBPS is not just about making households data rich, It also makes (many state owned PSU) utility companies data rich, the value of data, will mean a whole lot more in era where utility companies will be divested increasingly.
The state government owned PSU companies, were short sighted, just like in GST, opted for BBPS (some through force), to see increased revenue opportunities, in exchange for crucial business data which they will hurt them back.
Platformizing for data, is not just in BBPS.Its with every #BullyStack project. Look #FASTag through prism of auctioning toll operate contracts for large investment firms. Yes, that's government divesting highways with tax payer built roads, "intelligently"(?) through FASTag data
The "intelligently" is questionable and will be root of all current / future scams. The beauty of it is, with all this data being present in unaccountable private companies, masquerading as "National" platforms, one can't prove it.
There are huge natsec risks in having this level of centralized data,that country could be held captive at ease,by any power that has access to data.Given #BullyStack's history competence to protect data,sense has to prevail sooner to prevent disasters,or war as @Stupidosaur says

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More from @logic

Aug 31, 2018
Repeat after me: #FASTag is an asset monitoring technology for the lenders (highway traffic measurement for infrastructure assets & vehicle control -- toll block / geo-fence -- for vehicle loans) masquerading as toll collection technology providing convenience.
Repeat after me: #BBPS is an investment lead generation technology for the lenders (consumption data of utilities for infrastructure for equity investments & family consumption/scoring for household finance) masquerading as bill collection technology providing convenience.
Repeat after me: #GSTN is a trade surveillance technology masquerading as simplified(!!) tax collection technology.
Read 6 tweets
May 25, 2018
A thread on #UPI PSPs who come in all shapes and sizes, Some history from 2016, some thoughts on bank led model, API gatekeeping, unbundling of #UPI, hierarchy of players, business impact.
#UPI hit the market with ~18 banks going live in July 2016. All of them released an app, had their own PSP backends, were issuers. A week later @PhonePe_ became the first non-bank PSP with an YesBank partnership operating its own PSP backend.
Days later few more apps built by startups hit. All of them with YesBank partnership, using Yesbank PSP backend. SBI and HDFC were largely holdouts to UPI, did not have choice but to launch post #DeMo
Read 23 tweets
May 11, 2018
Now that the lawyers have run their marathon and we wait for the top court to rule, a small personal diary note thread on #Aadhaar & me.

Huge thanks to community of people who have widened my wisdom of how society works. Fellow helpless people helping each other.
It started sometime in 2011, when I knew nothing, enrolled along with family.But our enrollment packets were lost, EID wasnt even searchable. I did write some emails to support, but yielded nothing more than, please enroll again. As the need wasn't real, did not enroll.
Parents gave up at a later date, enrolled, got UID successfully generated. I resisted, mostly because of laziness, but did not have developed trust enough to enroll. On random browsing sessions, have heard Usha Ramanathan on YouTube, but never took deep dive into issues.
Read 33 tweets
May 4, 2018
Thread on Billgates connection to #Aadhaar. Does he know enough to comment (of course he knows a lot more, deep intentions, interests). Now that he himself has repeated the fact that, his "charity",WB are interested in it, like to fund the initiatives, lets look at larger picture
Read "Digital Poverty Stack". I will summarize these posts

Part 1…

Part 2…

and add additional context on players.
Note that @India_Stack and Level One Project are parallel initiatives in India and Africa respectively? Why only these two geographies? Why not elsewhere?

Besides the usual guinea pig theory, the other common thing is, these are geographies where "Development finance"
Read 8 tweets
Mar 15, 2018
I dont have any soft spots for @NandanNilekani, but this needs demystifying for people to see larger picture and not get personal, potshot happy and forget, but its important to understand what ROHINI is, what the healthcare agenda is, so Thread.
IIB is registered society, promoted by insurance industry as an agency to provide sector level cooperation. Regulators : Industry bodies :: RBI-TRAI-IRDA : IBA / NPCI-COAI-IIB. These industry organizations exist to shape larger policy around industry to safeguard themselves
IIB was formed in *2009* and ROHINI is health insurance market analyzing product which the insurance industry needs. That they have effectively lobbied regulator IRDA to make it mandatory is another thing, all these before *Modi care*
Read 17 tweets
Mar 3, 2018
Classic example of disasters in not differentiating aadhaar authentication, eKYC, eSign, eMandate. Everything needs only one OTP and no knows what transaction happens in backend. @India_Stack will be happy because all they care is volumes not user interest. #Consent #Fraud
A simple way of fixing this mess, is to not allow signatures by just sharing OTP, but involve some bit of user action and adding friction to make sure signatures can't be made with just OTP. User can send a SMS from registered mobile with SIGN <OTP_SENT_TO_ENTITY> to get SIGNOTP
What this would mean is, while signing is still happening through the same set of APIs, it codifies user action, which reduces frauds like these. eSign still has more issues, but this is rudimentary.
Read 17 tweets

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