India Leads Global Digital Transactions with Rapid UPI Growth

BY A STAFF REPORTER: Already, the Government of India has taken the resolution of 'Developed India'. These include promoting economic growth, job creation, social progress, and environmental sustainability. And in terms of economic growth, the Unified Payment Interface, or UPI, is the fastest payment system.

In this case too, India has a dominant contribution of around 46 percent to the world's digital transactions. According to the RBI Governor, retail digital payments in India have grown 90 times in the last 12 years. It is also reported that by 2023, UPI will process 42 crore transactions a day.

Later, this limit will also reach the tipping point for billions of transactions. According to NPCI, there has been a 61 percent year-on-year growth in the volume of payments made through UPI and a 48 percent increase in transaction value.