UPI to capture 90% of retail digital payments by 2026-27
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Unified Payment Interface (UPI) has been the main driver of the digital payments revolution in India. First introduced in 2016, it did not take the indigenous payment system much time to grow into a dominant force. That dominance is expected to continue for a while. According to PricewaterhouseCoopers (PwC) India, UPI transactions are likely to account for 90% of retail digital payments by 2026-27.