UPI clocks Rs 20 lakh crore for the third straight month in July

UPI Payments, a part of “India Stack”, has emerged as the flagship Indian fintech product over the recent years. It has seen remarkable growth, rising from 6% of non-cash retail transactions in FY18 to 80% in FY24, with projections to reach 90% by FY26, as per estimates by Boston Consulting Group.