#GFF24 | Future Of Fintech | ULI | NPCI's Dilip Asbe Explains How Credit Will Power UPI’s Growth

At the Global Fintech Fest (GFF), Dilip Asbe, MD & CEO of the National Payments Corporation of India (NPCI), discussed the future of UPI in India and globally over the next five years. He emphasized that while significant progress has been made, much more needs to be done. He highlighted the multiplier effect of increasing both merchant and consumer adoption by 3x, which could lead to a 9x growth in UPI transactions. Asbe also stressed that credit will be the backbone of this growth. He believes recurring payments, like Mandate QRs and EMI QRs, will be crucial for driving usage, especially in making the adoption process more seamless for both organized and unorganized retail outlets. Moreover, Asbe underscored the need for software-driven innovation, especially in transitioning from physical infrastructure to more flexible, real-time, demand-driven solutions.