A new report has shown that the Unified Payments Interface (UPI), debit and credit cards, prepaid payment instruments like mobile wallets, and prepaid cards logged 23.06 billion transactions amounting Rs 38.3 lakh crore in the third quarter this year.
As the UPI juggernaut rolls on‚ the six-year-old real-time payments system is set to disrupt big-ticket credit card‚ debit card and remittance payment ecosystems‚ and even the cash in the system.