National Payments Corporation of India (NPCI) Ltd. plans to launch an update to its Unified Payments Interface (UPI) system later this year. NPCI launched UPI in April 2016 with the aim of becoming a universal platform that would allow consumers to make payments using their mobile phone, without the need for downloading an app to send or receive money, thereby eliminating the need for e-wallets. The payments firm notes that since its introduction, UPI has experienced a growth rate of
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