10 years of UPI: India’s digital payment revolution continues at rapid pace
UPI has become synonymous with payments in India. The technology has revolutionized digital payments by enabling instant, zero-cost and real-time mobile transactions across India. It has boosted financial inclusion and become a global benchmark for digital public infrastructure. Mint explores:
Ten years after its inception, India's Unified Payments Interface (UPI) continues to revolutionize the nation's digital payment landscape, according to recent data from the Finance Ministry, RBI, CMIE, and the National Payments Corporation of India (NPCI). The fintech platform has achieved an annual growth rate of 20–30 percent, showcasing its rapid expansion and widespread adoption.
UPI's ongoing success is attributed to its user-friendly interface, seamless transactions, and robust security features, making it a preferred choice for millions of Indians.
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