PM Modi appreciate the UPI role to fulfills vision of digital India and enable the real time transactions system. “India Stack, that’s our digital backbone, enabled platforms, that now handles 100+ billion transactions a year. Around half of all real-time digital transactions conducts in India,” Modi said in a post on social media platform.
A flagship programme of the government, Digital India launch on July 1, 2015 to transform India into a digitally empowered society and innovative financial system.
UPI Largest Real Time Payment Platforms
UPI, the sector’s largest retail real-time payments platform, handles around 630 million transactions a day and over 18 billion in a month. The transactions for FY25, but, fell short of government 200-billion goal, recording 185 billion transactions. Around 85% of all digital transactions in India show up through UPI after with adoption by customers and merchants. Growing internet penetration in country also give a boost.
Daily Transactions equal To European Union Population
“In 2014, India report around 25 crore internet connections. Today, that range grown to over 97 crore,” Modi said in post. UPI work as centre of conducting global payments through Visa’s daily transaction volume, and aim to make it the most important retail online payments platform in world.