Mastercard says UPI is expanding India’s digital-payments market, not displacing cards
Mastercard India executive Gautam Aggarwal said UPI has broadened digital-payment adoption and awareness rather than becoming a direct challenge to the card network. He highlighted remaining headroom for penetration, consumer education and fraud prevention as payment volumes rise.
Mastercard India executive Gautam Aggarwal said UPI complements rather than challenges Mastercard, expanding digital-payment adoption and consumer awareness. He cited substantial remaining penetration potential, ongoing cybersecurity investment, and the need for consumer education and fraud prevention.
Why this matters
Mastercard’s UPI stance follows its Glomopay tie-up for India’s $1.8T cross-border payments lane and its push into tier-3/4 markets via credit-on-UPI and SME rails.
Retail-company is accelerating, up 167022% QoQ.
Also reported by
- ET Small Business — Same time