Read what Mastercard CFO has to say about the UPI ecosystem of India
India's Unified Payments Interface (UPI) has transformed the payment landscape since its introduction in 2016. With over 10 billion transactions worth Rs 15,18,456 crore in August, UPI is driving digital adoption in the country. However, Mastercard's CFO, Sachin Mehra, criticized UPI, claiming it is a loss-making proposition for ecosystem players. Despite the challenges, Mastercard will continue to compete in the Indian market.
India's Unified Payments Interface (UPI) has transformed the payment landscape since its introduction in 2016. With over 10 billion transactions worth Rs 15,18,456 crore in August, UPI is driving digital adoption in the country. However, Mastercard's CFO, Sachin Mehra, criticized UPI, claiming it is a loss-making proposition for ecosystem players. Despite the challenges, Mastercard will continue to compete in the Indian market. What's Your Reaction?
