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GooglePay, AmazonPay, and PhonePe Seek Inclusion in RBI's Digital Currency Pilot Amid 45% Growth and Rs 20 Trillion Transactions

Several major payment firms, including GooglePay, AmazonPay, and PhonePe, are reportedly seeking to join the Reserve Bank of India's (RBI) digital currency pilot program
By: DeepNewz • August 05, 2024
GooglePay, AmazonPay, and PhonePe Seek Inclusion in RBI's Digital Currency Pilot Amid 45% Growth and Rs 20 Trillion Transactions

Several major payment firms, including GooglePay, AmazonPay, and PhonePe, are reportedly seeking to join the Reserve Bank of India's (RBI) digital currency pilot program.

This initiative aims to explore the use of the digital rupee for transactions. The participation of these firms highlights the growing interest in digital currencies among major players in the payments industry.

In addition, the National Payment Corporation of India (NPCI) reported a 45% year-on-year growth in payments through the Unified Payments Interface (UPI), with total UPI transactions surpassing Rs 20 trillion for three consecutive months as of July 2024.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

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