Definition
Interoperability means that different systems or apps can work together smoothly. In the context of finance, it allows users to send or receive money across different platforms.
Real-life Example
You can send money from Paytm to any UPI App or scan a Paytm QR code using any UPI-enabled app — that’s interoperability.
Why It Matters
- Makes digital payments more flexible
- Reduces dependency on one app or platform
- Enhances user experience
The meaning of interoperability lies in creating a connected and unified digital ecosystem for all users.
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