UPI: Jewel amongst India’s Fintech Innovation
Significance/Achievements
- Large Scale Adoption: UPI has been widely adopted throughout the nation. With millions of users and a sizable network of partner banks and payment service providers, it has grown to be one of the most widely used digital payment systems in India.
- Volume of Transaction: UPI's transaction volumes are astounding. In 2022, UPI had an amazing volume of around 74.05 billion transactions with a value of 126 trillion, according to the "India Digital Payments Annual Report."
- Smooth Interoperability: UPI has made it possible for various banks and payment service providers to communicate with one another. As a result, consumers ....
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