UPI expands beyond India, driving global adoption

It simplifies small payments for its users.

The Unified Payment Interface (UPI) is not only transforming payments in India but also gaining traction internationally, according to Punjab National Bank's Managing Director & CEO, Atul Kumar Goel.

Goel highlighted UPI’s continued innovations, including UPI Lite, which simplifies smaller payments by reducing transaction logs. “There is no need for making each transaction to your passbook,” he added, describing how UPI enhances user convenience.

At Sibos 2024 in Beijing, Goel pointed to the significance of financial technology innovations showcased by companies worldwide, offering opportunities to learn from global payment systems.