India is advancing at a high speed concerning computerized exchanges. Alongside this, many months is making new keeps concerning computerized exchanges. On account of Unified Payment Interface (UPI) exchanges, India has crossed the Rs 10 lakh crore mark in May 2022. As per the most recent information of the National Payments Corporation of India (UPI), this is whenever that India first has crossed the 10 lakh crore achievement as far as UPI exchanges, which is another record.
1 trillion dollar exchanges in the monetary year 2021-22
The Instant Real Time Payments System has kept 595 crore UPI exchanges in this merchandise, which was 558 crore in April. During the COVID-19 pandemic in March 2020, the quantity of UPI exchanges was 124 crores, with an aggregate sum of Rs 2.06 lakh crore. There has been an increment of 117% in the quantity of UPI month to month exchanges in May 2022 when contrasted with May 2021. UPEI exchanges have crossed the $1-trillion imprint in the monetary year 2021-22.
Government began many new plans
There are many plans of NPCI because of expansion in computerized installment. As of late, the office of UPI exchanges in disconnected mode has been begun from the cell phone. Additionally, the office of UPI exchanges has been begun through UPI 123Pay assistance from highlight telephones. As of late, a roundabout has been given by NPCI and it has been educated that how might UPI installment be finished through disconnected mode?
What is the market share of which UPI platform?
PhonePe, Google Pay and Paytm Payments Bank dominate India in terms of UPI transactions. If we talk about UPI transactions of these three platforms, then PhonePe has a total share of 47 percent in the UPI market. While the market share of Google Pay is 35 percent. While the market share of Paytm Payments Bank is 15 percent.
