India touched 20.57 billion transactions via debit cards, credit cards, prepaid payment instruments such as mobile wallets, prepaid cards and UPI for the second quarter of 2022 with Rs 36.08 trillion in terms of value which were processed through various platforms. UPI overtook all other forms of payments at 34% in terms of volume at merchant transactions. With the Reserve Bank of India (RBI) releasing its Payments Vision document, the sector is positioned for further growth in the digital payment landscape in India.


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