India to spend $320 million to promote homegrown payments network

India to spend $320 million to promote homegrown payments network

a year ago
Anonymous $_PGtSJbg8h

https://techcrunch.com/2023/01/11/india-to-spend-320-million-to-promote-homegrown-payments-network/

India will spend nearly $320 million to promote cards on RuPay and for low-value UPI transactions, the latest in a series of moves by New Delhi to fuel the growth of its homegrown payments network.

New Delhi approved a plan Wednesday to spend $318.4 million for the promotion of RuPay debit cards and low-value person-to-merchant transactions on UPI during the period of current financial year ending in March 2023.