Reserve Bank of India (RBI) Governor Shaktikanta Das told reporters at the launch of Digital Payments Awareness Week that in the last 12 months, daily transactions crossed 36 crore.
National Payments Corporation of India (NCPI) Dilip Asbe, MD & CEO, said that the Unified Payments Interface (UPI) Daily transactions on the platform can reach 1 billion in the next three years. UPI has reached its full potential. India’s UPI is considered one of the best payment systems in the world.
still need to work
He said in a conversation with Money Control that I do not think that UPI has achieved its potential. For a country like India, we need to do 10 times what we are doing. In fact, if we all continue with the same efforts, I am confident that in two to three years we will reach 1 billion transactions, he added. By 2025, we should be able to achieve this target.
UPI transaction at life time high
Asabe’s comment comes at a time when the daily UPI transaction has reached an all-time high. Earlier this week, Reserve Bank of India (RBI) Governor Shaktikanta Das told reporters at the launch of Digital Payments Awareness Week that in the last 12 months, daily transactions crossed 36 crore, a jump of 50 from February 2022 in terms of volume. per cent growth, while UPI transaction value grew by 17 per cent to Rs 6.27 lakh crore as compared to February last year.
There is no break of UPI in the world
On the other hand, agreeing with Asbe, the co-founder of Salt App, Shinjini Kumar praised the UPI growth and said that UPI is much better than most of the payment systems around the world. He said that UPI can prove to be even more useful in the coming days. On this occasion, Harshil Mathur, Co-founder and CEO of Razorpay, asked for continuous innovation in the payment system. So that common people can get more easy and convenient ways to make payments.
Source: www.tv9hindi.com
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