The UPI Gap: The Payments Council of India Calls for Increased Support

The Payments Council of India (PCI) has expressed concerns that the Rs 1,500 crore incentive for UPI transactions is insufficient to sustain the digital payment ecosystem. PCI believes that more substantial support is needed to maintain the growth and stability of UPI services. The council's stance highlights the importance of robust financial backing to ensure the continued expansion and reliability of digital payment systems in India. With UPI transactions reaching record highs, sustaining this momentum requires adequate incentives to cover operational costs and drive innovation.

Source: Business Standard, Payments Council of India