How UPI Has Redefined The Meaning Of Payment? Hear From Expert Sachin Salunkhe | Paisa Live

India is rapidly transitioning to a cashless payment ecosystem, driven by innovations like UPI and QR codes. Over the past decade, digital payments have become increasingly common, with terms like "PhonePe" and "Paytm" replacing the word "payment." The government, through the National Payments Corporation of India (NPCI), has played a pivotal role in regulating and advancing this shift. The introduction of technologies like Aadhaar-enabled payment services and Digi Yatra further streamlines daily transactions. The Unified Payments Interface (UPI) has become a cornerstone of India's digital economy, reaching even rural areas. With new developments like the Central Bank Digital Currency (CBDC) and the Unified Lending Solution, India is progressing steadily towards a cashless economy, reducing reliance on physical currency and boosting GDP growth.