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The value of UPI transactions has seen a considerable rise, from Rs 1 lakh crore in FY 2017-18 to Rs 139 lakh crore in FY 2022-23, marking a CAGR of 168%.
Discover the workings of Conversational UPI, a revolutionary voice-based payment system set to transform digital transactions.
Conversational Payments: UPI users will soon be able to send money to anyone by giving just voice commands, instead of text-based inputs
Users can now initiate and complete transactions even in locations with no connectivity, such as underground stations, distant areas, etc., This functionality allows users to send and receive money while fully offline.
While the Indian fintech industry has been growing over the last few years, there have been concerns over valuations, leading to slowdown in funding to the sector.