Archive · 23 Sep 2025
NPCI: Payments are the Foundation for Credit Revolution in India
India's payment system is changing.
UPI, a popular payment method, has grown rapidly.
NPCI says that it is time for credit to evolve.
Credit cards are now accepted in more places due to UPI.
Visa highlights that cards are still relevant.
The focus is on making credit easier to use and available to more people, like at stores.
This will help grow financial services.
Safety and security remain important for both card networks and digital payment methods.
NPCI views payments as the foundation for a credit revolution in India.
UPI has grown to over 700 million daily transactions in nine years.
Credit card enablement on UPI increased acceptance from 10 million to 25 million points.
Visa emphasizes the continued relevance of cards, citing recent growth.
Visa highlights security and innovation, including card tokenization.
- Who
- Sohini Rajola (NPCI), Rishi Chhabra (Visa)
- What
- Discussion about the evolution of payments in India and the rise of credit.
- When
- Recent Banking Transformation Summit
- Where
- India
- Why
- To discuss the future of financial services and digital payments in India.
NPCI
Visa
Future of Payments
NPCI
Payments are the foundation for the future of financial services, particularly credit.
Visa
Cards will remain strong due to security, convenience, and global acceptance.
- UPI Transaction Growth
- Grew from zero to over 700 million daily transactions in nine years
- Credit Card Acceptance Increase
- Credit card acceptance points expanded from 10 million to 25 million due to UPI
- Number of Credit Cards in India
- Approximately 111 million
- Visa Tokenized Credentials
- Over 400 million card credentials tokenized
- Card Payment Growth
- Card payments grew 15% year-on-year recently