The Unified Payments Interface (UPI) has demonstrated remarkable growth, with transaction counts surging by 27% year-on-year to 20.39 billion in February. Accompanying this increase, transaction amounts also rose by 22% annually, totaling Rs 26.84 lakh crore. This growth highlights the increasing adoption of digital payment methods, propelling UPI’s presence in over eight countries and advancing global digital transactions.
India and Israel are forging a stronger financial partnership to facilitate cross-border UPI transactions, signaling further international collaboration in the realm of digital finance. The surge in UPI transactions reflects the growing preference for digital payments and underscores the technology’s potential to transform traditional financial systems worldwide.
Source: Tech-Economic Times