UPI the interface of India’s digital payment revolution goes from strength to strength. To be specific, the total turnover processed by the UPI in September reached 15.04 billion, the highest one-month turnover by 2.95 billion than the previous high in August. year on year this is a 42 percent increase which is indicative of the increasing dependence on the nations digitized payment system.
PhonePe remains on the top position, while Google Pay and Paytm are ranking second and third in the meantime. But there is growing interest from CRED, Flipkart, and BharatPe and others proving the rising interest in owning a share of the pie. A number of countries already have instant payment systems developed by NPCI, which has already offered this facility globally.
This is a clear testament to UPI being a key enabler of India’s digital reinforcement. With the country now adopting the UPI in integrating digital payments into the country’s financial system, the future of UPI seems brighter as ever.
