The National Payments Corporation of India (NPCI) which launched India’s own domestic payment interface Unified Payments Interface (UPI) – has announced that it has achieved the double milestone of achieving one billion transactions in the month of October.
Billion Transactions in the month of October , proves UPI the fastest method of Adoption.
Google Pay , Pay Tm & Phone Pe are considered to be the driving factors in the UPI transactions ,according to TOI. The objective is to increase the user base from 100 Million to 500 Million, Asbe said to TOI.
Fintech platforms have hugely benefitted from the UPI intercface as Wallmar backed Phone -Pe has a valuation of 1 Billion.
UPI is a payment interface of the National Payments Corporation of India (NPCI), UPI allows immediate money transfer through mobile device round the clock. It also caters to the ‘Peer to Peer’ collect request, which can be scheduled .