{"id":2744,"date":"2021-01-10T11:54:00","date_gmt":"2021-01-10T11:54:00","guid":{"rendered":"https:\/\/paycorp.io\/blog\/?p=2744"},"modified":"2024-05-30T10:53:13","modified_gmt":"2024-05-30T05:23:13","slug":"indias-upi-a-precursor-to-global-adoption-of-real-time-payments","status":"publish","type":"post","link":"https:\/\/paycorp.io\/blog\/indias-upi-a-precursor-to-global-adoption-of-real-time-payments\/","title":{"rendered":"India\u2019s UPI: A Precursor to Global Adoption of Real-time Payments"},"content":{"rendered":"\n

India\u2019s Unified Payment Interface (UPI), the real-time payments platform for the country, implemented in August 2016 has shown remarkable growth throughout 2018 in volume and value.<\/p>\n\n\n\n

Read more about UPI: Understanding UPI and its Impact on Payments in India<\/a><\/h3>\n\n\n\n

As of the end of December 2018, UPI has crossed 600 million in monthly transactions volume, up from 145 million in 2017.<\/p>\n\n\n\n

India\u2019s adoption of the UPI is an excellent case study and can pave the way for many countries that are planning or have not yet planned to modernise the prevalent national payments infrastructure, to facilitate faster movement of funds within the country.<\/p>\n\n\n\n

The absence of a strategic instant payments solution in a country suggests that it is unaware of the greater benefits of real-time technology that are enjoyed by several world economies.<\/p>\n\n\n\n

The demand for instant payments<\/a> is evidently growing at a great pace across the globe. The legacy electronic payment systems no longer meet the dynamic requirements and expectations of Generation-Y, which is comprised of computer-savvy individuals who require prompt responses\u2014this is the need of the hour.<\/p>\n\n\n\n

In reality, an instant payments service is the next stage and is a crucial need of the domestic payments space in the coming years across the globe.<\/p>\n\n\n\n

Going by the dynamic demands of the market, 2019 stands poised as a crucial year for the adoption of instant payments on a global scale.<\/p>\n\n\n\n

\"Paycorp

A map that shows the global adoption of real-time payments<\/figcaption><\/figure>\n\n\n\n

Stay tuned for more insights on instant payments trends across India and the world.<\/p>\n\n\n\n

Revolutionize Digital Payments with Paycorp.io<\/a><\/strong><\/h2>\n\n\n\n

Make your digital payment platform fast, safe, and fool-proof with Paycorp.io<\/a>. We offer a diverse combination of cloud-based payment processing for various businesses<\/a>. Whether you are an SME<\/a>, a larger company<\/a>, or a digital lender<\/a>, we have a cloud-based, end-to-end payment solution for everyone. Frame your instructions, disburse and collect payments, realize revenue, and reconcile payments simply and efficiently with our robust payment solutions.<\/p>\n","protected":false},"excerpt":{"rendered":"

India\u2019s Unified Payment Interface (UPI), the real-time payments platform for the country, implemented in August 2016 has shown remarkable growth throughout 2018 in volume and value. Read more about UPI: Understanding UPI and its Impact on Payments in India As of the end of December 2018, UPI has crossed 600 million in monthly transactions volume, up from 145 million in 2017.…<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21],"tags":[],"yoast_head":"\nIndia\u2019s UPI: A Precursor to Global Adoption of Real-time Payments -<\/title>\n<meta name=\"description\" content=\"Paycorp Enterprise payments solutions in India. 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