Part 3/12:
The growth of the Unified Payments Interface (UPI) exemplifies this leap, soaring from just 1 million transactions in 2016 to an astonishing 165 billion in 2024. The current aim is to reach over 200 billion transactions annually, with a daily volume approaching 1 billion payments. Such scale underscores India’s meteoric rise as a global hub for digital payments, reinforcing its role as an economic backbone.