💡 Insights
India's Unified Payments Interface (UPI) has recorded its strongest month on record. According to data released by the National Payments Corporation of India (NPCI), the platform processed 23.66 billion transactions worth Rs 29.88 lakh crore in July 2026, its highest-ever monthly volume. The milestone comes just
NPCI is also preparing to deploy NFC-enabled UPI Lite offline tap-and-pay transactions of up to INR 2,000 that would enable customers to make payments without internet connectivity on either the customer’s device or the merchant’s POS terminal.
Covid-19
Due to the lockdown imposed to contain the spread of COVID-19 [https://startuptalky.com/tag/covid-19/], UPI has recorded transactions of less than one billion for the month of April after 12 months of constant growth. This is the first time in the past seven months that UPI volume went
📚 Learning
The National Payments Corporation of India (NPCI) is an umbrella organization for operating retail payments and settlements systems in India. It is an initiative by the Reserve Bank of India (RBI) and the Indian Bank Association (IBA) under the provisions of the Payment and Settlement Act, 2007, for creating a