[sseth]

UPI is growing at an incredible rate.

One important reason for the growth is the explosive increase in 4G connectivity in the last 4 years, which has data usage on mobile see a compound average growth of 93% to become the highest in the world at 11.2 GB per user / month. The rates are almost laughably cheap, at around 0.20 USD/GB.

COVID has also driven more recent growth because people don't want to handle cash.