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Experts Explore Synergies to Advance India's Digital Payments Ecosystem

Kolkata, May 9 (UNI) Digital payments are driving fintech growth in India, supported by accessibility and population trends, opined Vishwas Patel, Chairman, Payments Council of India (PCI).
Speaking at the 15th edition of Digital Money 2023, organised by the Payments Council of India (PCI), Patel on Tuesday hailed the initiatives taken by both the public and private sectors and called the Digital Money conference a pivotal platform for shaping the industry's future.
“Digital payments are driving fintech growth in India, supported by accessibility and population trends. While cash and digital payments are growing, focus on acceptance and revenue mechanisms is crucial. UPI has seen growth with the installation of over 26 crore QR codes in kirana stores. On the other hand, over 96 crore debit cards are in circulation, with 4.5 million terminals supporting 25 crore SMEs. We feel, the government’s support through Information, Innovation, and Taxation (IIT) has been crucial for the growth,” he said.
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