Unified Payments Interface (UPI) makes India a global leader

Unified Payments Interface (UPI) makes India a global leader in next-generation real-time payments infrastructure

Mumbai (Maharashtra) [India], March 24 (ANI/PRNewswire): With Cash use declining from 71 percent of POS transaction value in 2019 to just 27 percent in 2022, India has emerged as a global leader in payments with the development of its next-generation real-time payments (RTP) infrastructure, the Unified Payments Interface (UPI), helping E-commerce account-to-account (A2A) payments grow to USD 12 billion, up 53 percent from 2021 to 2022 and digital wallets growth from 5 percent to 35 percent of POS value, according to a new report released today from global financial technology leader FIS (NYSE: FIS).

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