Almost all micro & many macro transaction in India happens through UPI.
India's central bank as also launched a CBDC (eRupee)
India currently does more online payments than China & US combined.
News that I missed:
MUMBAI, Feb 21 (Reuters) - India and Singapore launched on Tuesday a real-time link to facilitate easier cross-border money transfers between the two countries, the first such for the South Asian nation that is the world's biggest recipient of remittances.
Transfers of funds between the two countries will now be possible using just mobile phones due to the tie-up between India's Unified Payments Interface (UPI) and Singapore's PayNow facility. https://www.reuters.com/technology/india-singapore-launch-real-time-link-cross-border-payments-2023-02-21/
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