India's Unified Payments Interface (UPI) is a fast-growing payments network that allows free and fast account-to-account transfers using fintech apps such as PhonePe or Google Pay. UPI processed over $1tn in transactions in 2022, equivalent to a third of India’s GDP, and has grown from around 17% of 31bn digital transactions in 2019 to 52% of 88.4bn transactions by 2022. The Indian model is inspiring others, with Brazil launching its own Pix platform for bank-to-bank payments with a small fee that now accounts for some 30% of Brazil’s electronic payments. Open instant-payment systems like UPI are an alternative both to the bank/card model in the rich world and to the closed fintech one in SomeCountry.