Visa bets on cheaper tech and consumer choice to take on the UPI juggernaut

“When OTP first came out, many in the industry were worried that it would make digital transactions too cumbersome because consumers had to trust mobile networks, receive the OTP and enter it correctly, but over time, Indians began to view OTP as a standard indicator of trust and legitimacy,” Gopalan said. He said tokenization has a similar impact on card payments. He added that the extent of this shift can be seen in adoption, with Visa now having “more than 550 to 600 million tokens” in the market.