The stats are for India only BTW. UPI does close to 700M transactions a month and growing around 20% month on month.
Compared to that Visa, MasterCard and Rupay combined do around 150M transactions a month. Of course if we add ATM withdrawals (which is actually a cash transaction to think of) than that number is around 800M per month for all of them combined.
All numbers are for India only. in USA Mastercard alone does around 12B transactions a year and globally around 75B transactions a year. Large but India's UPI had a fair chance to even overtake than in next 5 years.
Compared to that Visa, MasterCard and Rupay combined do around 150M transactions a month. Of course if we add ATM withdrawals (which is actually a cash transaction to think of) than that number is around 800M per month for all of them combined.
All numbers are for India only. in USA Mastercard alone does around 12B transactions a year and globally around 75B transactions a year. Large but India's UPI had a fair chance to even overtake than in next 5 years.