UPI to process transactions worth 15% of India's GDP this year, says head of NPCI International
December 18, 2020 With over 175 million customers and 60 million merchants on the Unified Payments Interface (UPI), the platform is expected to process close to $425 billion (over ₹31 lakh crore) worth of transactions this year, which is equivalent to 15% of India’s Gross Domestic Product (GDP), said Ritesh Shukla, chief executive officer, NPCI International Payments Ltd. “When we launched UPI in 2017 we processed $8 billion worth of commerce on the platform, which is less than 1% of India’s GDP,” Shukla said while speaking on a panel discussion organised by Carnegie India. In Augus...
Source: medianama.com