Now Reading: Mastercard Says UPI Has Expanded India’s Digital Payments Market
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Mastercard Says UPI Has Expanded India’s Digital Payments Market
Mastercard Says UPI Has Expanded India’s Digital Payments Market
The Story in Brief
Mastercard sees the Unified Payments Interface as complementary, not a competitor, its India head Gautam Aggarwal said at the India International FinTech Festival 2026. He said UPI and other national payment systems have educated consumers and expanded India’s digital payments market. India has the world’s largest digital payments ecosystem in absolute terms, though further adoption remains possible.
Aggarwal said Mastercard has invested in cybersecurity for nearly three decades and is increasing spending through acquisitions and internal innovation. He said security must improve without reducing convenience. He also praised India’s regulatory framework and stressed consumer education on safe payment practices and fraud prevention.
The Indian Opinion
UPI’s growth has clearly helped make digital payments more familiar to Indian consumers. Mastercard’s view also reflects how payment networks can benefit from a larger market rather than simply compete for the same users. Claims about India being the world’s largest ecosystem depend on how the measure is defined, so they should be read carefully. Better consumer awareness and strong security remain important as usage expands.
Source: economictimes.indiatimes.com
This story was synthesised by AI from the source linked above.
