With Unified Payments Interface (UPI) crossing 300 million mark in August, digital payments is soon going to be a norm for Indian society, said Finance Ministry officials.
“Digitalisation of payments in India is marching ahead with gusto. With a base of 100 million Indians connected with digital payment ecosystem rising at a fast clip, India will soon be a digital payment society,” said Subhash Chandra Garg, Secretary, Economic Affairs.
“The spurt in digital transactions reflects changing consumer behaviour and wider adoption of the technology in society,” said Rajeev Kumar, Secretary, Financial Services.
“Digital India making deep inroads into consumer behaviour. BHIM UPI transactions show increasing user adoption month on month. Aug ’18 txn count/value up by 32.7 percent and 18 percent over July ’18. Building a less-cash and financially-inclusive economy,” said Kumar.
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