UPI supercharged mobile payments in India. It’s now gearing up for next phase of growth.

In just six years, UPI has become the most popular way Indians transact online. The mobile electronics payments system was used for over 6.57 billion transactions in the world’s second largest internet market last month. Now, it’s taking steps to supercharge its growth.
The payments network, which was built by a coalition of banks, is India’s attempt to challenge card companies in an open market, bring hundreds of millions of people into the fold of digital payments and curb the proliferation of corruption.
“During the period between March 2020 and August 2022, UPI usage grew by 42

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