image credit: Freepik

UPI transactions to account for 90% of retail payments by 2026-2027

June 1, 2023


PwC India has released a report which highlights that UPI is projected to dominate retail digital payments in India, accounting for 90% of transactions until 2027.

Unified Payments Interface (UPI) transactions are expected to continue growing steadily, reaching a milestone of 1 billion transactions per day by 2026-2027, according to a report by PwC India titled ‘The Indian Payments Handbook – 2022-27.’ UPI, which has been instrumental in driving the digital payments revolution in India, accounted for approximately 75% of the total transaction volume in the retail segment during the period of 2022-2023.

Read More on ThePaypers