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1 Billion UPI Transactions
October 30 , 2019
1884 days
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- Transactions using India’s own domestic payments platform, Unified Payments Interface (UPI) hit a landmark of one billion in October 2019.
- The UPI also recently crossed 100 million users, making it the fastest adoption of any payments system in the world.
- The National Payments Corporation of India (NPCI), which operates the UPI platform, aims to take the network global by enabling acceptance of UPI in Singapore and the UAE.
- NPCI launched UPI in 2016 to promote digital payments.
- UPI enables users to send money from their account to any account without entering bank details by using an email-like handle or scanning a QR code.
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