India planning to bring 300 million new users onto UPI payments platform

India plans to bring hundreds of millions of new users onto Unified Payments Interface, its real-time payments system, while pitching the platform for wider adoption overseas.

National Payments Corporation of India aims to draw an additional 200 million to 300 million Indians to UPI to “break their cash memory” through initiatives including delegated accounts for children and household staff, who may lack access to traditional bank accounts, said Dilip Asbe, its managing director and chief executive.