Lot of headroom for digital payments platform UPI to grow: Google Pay V-P

Despite the massive growth since Covid-19 pandemic, there is still a lot of headroom for India’s flagship digital payments platform – Unified Payments Interface (UPI) – to grow and it has a titular role to play in enabling access to credit for a large number of people, said Ambarish Kenghe, vice-president, Google Pay on Wednesday.

Speaking at the Global Fintech Fest here, Kenghe said that close to 400 million customers are transacting on UPI currently. With India having about 1.4 billion people, and about 900 million bank accounts, there is a lot of space for UPI to grow.