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The real-time payments system’s transaction count hit 9.41b in May, up 58% year over year, the National Payments Corporation of India (NPCI) said this week. The explosive growth of India’s UPI may chart the path for real-time payments in the United States as the Federal Reserve progresses on its own real-time payments journey.
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“Celebrating a milestone moment,” NPCI said in another Thursday tweet. “We’ve crossed a phenomenal #9billion transactions on UPI in the month of May’23, & it’s all thanks to you, India! Together, we are shaping the future of payments.”
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