Around 40% Indians use digital formats like UPI for money transfer: Nandan Nilekani

India’s Unified Payment Interface (UPI) and Aadhaar-enabled payment system has brought in a “dramatic shift” in consumer behaviour and consumer usage as around 400 million people tap into these digital technologies, said Nandan Nilekani, chairman of Infosys and founding chairman of Unique Identification Authority of India (UIDAI).

“Around 400 million people are using digital mode to withdraw money from their accounts. Roughly around 40-45% Indians are using digital format. It was zero percent 10 years ago. It is a dramatic shift in consumer behaviour and consumer usage which has become very powerful,’’ said Nilekani while delivering the keynote address at The India Advantage Summit 2022 in Bengaluru on Wednesday.