Digital payments, over the rails of the UPI infrastructure, has completely transformed the way in which commerce is carried out in the country.
Over the past few months, UPI has consistently clocked in excess of 2 billion transactions per month, and is today being offered by almost every type of commercial service—digital as well as brick-and-mortar.
The infrastructure proved particularly useful in the pandemic, by facilitating contactless payments and enabling direct benefit transfers to the remotest corners of the country.Having solved payments, it’s now time to our focus to credit.