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From PPIs to UPI – Indian Mobile Payments Are Evolving

India has emerged as one of the most exciting markets for digital payments across the globe. People have increasingly begun to use cashless channels and are proactively encouraged by the innovation happening in this space. UPI has been a game changer for digital payments, as indicated by its astonishing growing adoption levels. In the past nine months, UPI transactions have grown by a staggering amount – 22X by transaction volume and 7X by transaction value.

On the other hand, there are Prepaid Payment Instruments (PPIs) who played an instrumental role and were the early drivers of India’s push towards digital payments. The likes of

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