Paper Details

In the present scenario, moving with the technology is very important. Especially in the field of Finance, up gradation of technology is the need of hour. Many of the Fintech companies are providing different financial services which makes the customers feel ease. On the same line, movement towards Digitalization led to introduction of many Digital Financial Products. NPCI was the main organisation behind introduction of different products. Out of them the most important product which led to a different approach was UPI. Unified Payment Interface is an important Payment gateway. Recently it was introduced on 11 April 2016. The main idea of introducing UPI is to make payments at ease, to bring transparency in the finance sector, to build the trustworthy in the government and to take a step further in curbing the corruption. UPI has become part and parcel for all payments which are done digitally. UPI comes under the banner of NPCI. NPCI is known as National Payments Corporation of India. NPCI is well known to produce different products for Digital payments gateway.UPI was introduced by NPCI so that it can help the people of retail sector. Now the questions arises is how far the objective of UPI framing has brought the desired results in the past years. This paper is all about the assessment of UPI payment gateway with respect to overall payment systems prevailing in the payment gateway systems.

UPI, Payment Gateways, Value of Transactions, Volume of Transactions