10 years of UPI: How can it expand new frontiers for digital payments? | Explained
Unified Payments Interface (UPI) has processed about 66 crore transactions daily, supported by over 700 lenders, marking a significant milestone acknowledged by the International Monetary Fund. Despite its growth driven by affordable smartphones and government initiatives, UPI still faces challenges in becoming a value leader in digital payments. Future expansions are anticipated as the digital landscape evolves.