India UPI transactions expected to account for 90% of retail digital payments:- www.deekpay.com

　　As per the content you have provided, this is an article on the current status and future projections of the Unified Payments Interface (UPI) development in India. The article cites the report 'India Payments Handbook - 2022-27' published by PwC India, stating that UPI transaction volumes are expected to continue to grow and reach the milestone of 1 billion transactions per day by 2026-27.UPI, as a key enabler of India's digital payments revolution, occupies an important position in the retail payments space and is expected to further expand its market share.

　　Here are some key points mentioned in the article:

　　1. **UPI Transaction Growth Forecast**: UPI transactions are projected to increase from 83.71 billion in 2022-23 to 379 billion by 2026-27.

　　2. **Digital Payments Market Growth** : The Indian digital payments market is growing at a compound annual growth rate (CAGR) of 50%, with transactions expected to grow from $103bn in FY2022-23 to $411bn in FY2026-27.

　　3. **Credit card market growth**: The credit card market is also growing strongly, with credit card transactions projected to exceed debit card transactions by fiscal year 2024-2025.

　　4. **Trends in the payments industry**: The payments industry will focus on the expansion of the ecosystem and the development of new use cases for existing payments platforms, such as embedded and eco-finance, digital lending based on payment transactions, and offline payments.

　　UPI, a real-time payment system promoted by the Government of India, has become one of the most popular payment methods in India since its launch in 2016.UPI provides simple, secure and convenient payment services by integrating different bank accounts and financial institutions, supporting a wide range of features and functionalities such as real-time money transfers, mobile phone number as an identifier, 24/7 operations, and more.

　　The article concludes by highlighting the huge impact that UPI has had on the Indian payments landscape, including changing traditional payment methods, driving digital payments and smartphone penetration, and making India's financial system more modern and efficient.