N Chandrasekaran was speaking at the G20 Summit India 2023 where he revealed how coconut water sellers prefer Unified Payments Interface (UPI) transactions.

The emergence and growth in Unified Payments Interface (UPI) industry has meant that the public have been able to reduce their reliance on cash and opt for cashless transactions through different UPI applications.

Tata Sons chairman N Chandrasekaran said on Friday that when he goes on his morning runs and wishes to have coconut water, the seller asks him to pay using UPI and not by cash.

“When I go for morning runs and want to have coconut water, seller has no time to accept cash. He asks PhonePe karenge ya Google Pay karenge?,” Chandrasekaran said at the B20 Summit India 2023 on Friday.

While UPI transactions have been on the rise in recent times, not all stakeholders have fully accepted as was evident with a recent incident in which a Bengaluru man said that auto drivers in Mumbai would not accept transactions made through UPI.

“It’s funny how Mumbai is the ‘Financial Capital’ of India but 99% of rickshaw and taxi valas don’t accept UPI. Heck, several shops and popular establishments like Rustom Ice Cream and Kyani only deal in cash. Come to Bengaluru and every rickshaw has like 3 different QR codes,” the man had written on X (formerly Twitter).

The person’s tweet saw several negative comments as many slammed him for his words and said that the man’s claims were false.

https://www.moneycontrol.com/news/trends/n-chandrasekaran-reveals-how-coconut-water-sellers-dont-accept-cash-phonepe-karenge-ya-google-pay-karenge-11258881.html/amp