


Since the pilot launch of UPI in April 2016, more than 304 banks are live on the system and users have made over 4.5 billion transactions worth over 8.26 lakh crore rupees.

Google Pay already lets users make contactless payments via NFC (Near Field Communication) technology on their phone for UPI. Interoperability has always been a winning proposition for UPI, and this will be a step ahead in transforming the way real-time digital transactions are conducted especially in retail merchants." Nalin Bansal, Chief of Corporate and Fintech Relationships and Key Initiatives, National Payments Corporation of India (NPCI) said, "With the growing adoption of UPI, this first-of-its-kind functionality with Google Pay and Pine Labs will augment the customer experience and pave the way for a smarter and faster payment experience. Kush Mehra, Chief Business Officer, Pine Labs said, "We believe this will further strengthen UPI acceptance in India and appeal to consumers, especially the youth population who have taken a liking for contactless and digital payments.”
