UPI is riding high
Letter to the Editor
Dear Sir,
India’s digital payments geography is on the point of a major revolution, thanks to the Unified Payments Interface (UPI) system. Recent reports have projected that UPI will achieve a groundbreaking corner of 1 billion diurnal deals by 2026- 27.
During the period of 2022- 23, UPI reckoned for 75% of the total sale volume, signifying a massive shift towards digital payments. In the coming five times, UPI is projected to strengthen its grip on the retail digital payments geography and reach an astounding 90% of the total sale volume.
The exponential growth of UPI deals paints a pictorial picture of the nation’s evolving payment habits. The success of UPI in India is changing consumers’ payment preferences briskly than anyone could have prognosticated. UPI is driving consumers down from cash and helping to drive fiscal addition all at the same time, making India a leader in payments across not just the region, but the globe.
Dr. Vijaykumar H K, Raichur, Karnataka
KV News
