UPI has potential to reach billions of transactions every day by 2030: NPCI CEO Dilip Asbe

Homegrown payments service Unified Payments Interface (UPI) has the potential to scale almost ten times and reach a couple of billion transactions a day by 2030, National Payments Corporation of India (NPCI) chief executive officer Dilip Asbe said on Tuesday.

Asbe’s comments come as UPI transactions in the country hit the 10-billion mark in August.

“Today UPI is used by 350 million people. Our objective is that every Indian uses UPI. So, we have a three-fold (3x) opportunity on the user side and a three-fold (3x) opportunity on the merchant side. So, if you combine this, we have a ten-fold (10x) opportunity from where we stand,” said Asbe, speaking at the Global Fintech Festival 2023 in Mumbai.