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digital payments

Sujith Nair, CEO and Co-Founder of the Foundation for Interoperability in Digital Economy (FIDE), declared on Friday that UPI has evolved.

India is leading in digital transformation, with Vivek Wadhwa calling its infrastructure 'ahead of Silicon Valley' at the Rising Summit 2025.

NPCI data shows UPI transactions surged to 18.3 billion in March, marking a 13.59% increase from February's 16.11 billion.

The government has raised an additional Rs 9,118 crore in tax revenue from over 9 million updated ITRs filed in the past four years.

The digital payments sector is facing significant financial losses of around Rs 500-600 crore after the government decided to withdraw its subsidy support on RuPay debit cards.

The Union Cabinet approved an extension of the ₹1,500 crore incentive scheme for small digital transactions on Wednesday.

In Jan 2025, India's UPI saw an all-time high, with transactions surpassing 16.99 billion and a total value exceeding Rs 23.48 lakh crore.

Credit card spending rose 10.8% YoY to Rs 1.84 lakh crore in January 2025, led by HDFC Bank and ICICI Bank, RBI data showed.

India's digital payments ecosystem continues to witness exponential growth, with online transactions surging rapidly in recent years.

IDFC FIRST Bank, in collaboration with RuPay, has introduced a new UPI-enabled credit card named FIRST EARN, offering instant online access.