{"canonical_url":"https://agenticpayments.dev/cuts/cut-0216","claims":[],"content_hash":"sha256:7631a5bf56de09a587e4d83487590c4be4ef2104ecca2a2d0d6f50b80808d818","entities":{},"gist":"Post-UPI, Mypoolin finally had what we'd wanted all along: peer-to-peer and group payments with real traction, on a rail that was free, universal, instant. Then the giants noticed the category. WhatsApp launched payments inside the app India already lived in. Google Pay launched with cashbacks — real money, spent at a scale that redrew DAU charts. We were a startup. We could not buy users back.","id":"cut-0216","license":"CC-BY-4.0","provenance":"first-hand","relations":[{"target":"cut-0102","type":"related"},{"target":"cut-0212","type":"related"}],"sig":"ed25519:T4gF+ZKI7esu87MgkrQ1zql2X5bTbPwtLAEJz/X3gMvSUgn1dEwZrFE1lpRb0K3HojUx1RkymIEeVxLl6L08Aw==","stale_after":null,"suggested_citation":"agenticpayments.dev, \"The ledger was not a moat\" (cut-0216), July 2026, https://agenticpayments.dev/cuts/cut-0216","superseded_by":null,"valid_as_of":"2026-07-06","version":1}