UPI still has 'lot of scope' to grow, rural and offline access key challenges: NPCI CTO
UPI has significant room for growth, especially in rural areas. Developing offline payment solutions remains a key challenge for the platform. NPCI expects UPI's international footprint to expand further into new markets. Artificial intelligence is increasingly used across NPCI's operations for various functions. The next decade will focus on user and merchant inclusion and technological…
Mumbai: The Unified Payments Interface (UPI) has significant potential for growth, especially in rural areas and offline payment solutions, according to National Payments Corporation of India (NPCI) Chief Technology Officer Vishal Anand Kanvaty. Speaking to reporters, Kanvaty emphasized that while UPI has crossed 24.5 billion transactions in August, there is still much work ahead.
He highlighted that reaching rural populations and developing offline payment solutions are key challenges for UPI's future expansion. Kanvaty also mentioned that NPCI expects UPI's international presence to grow, particularly in countries where a large number of Indians travel, including the UAE, Singapore, Sri Lanka, and Nepal.
The corporation has already established UPI operations in 11 countries, accounting for nearly 49% of global real-time payment transaction volume in 2025. NPCI expects the next decade of UPI's development to focus on expanding user and merchant participation, leveraging technological advancements, and promoting greater financial inclusion.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
