How IT changes the Transaction history - UPI

1. How IT change the
Transaction Industry
EPGDIB W 24-25
Abhishek (#02)
Archit (#08)
Arpit (#09)
Nirupama (#29)
Priyanka (#35)
Udit (#41)

2. Digital India -
• An initiative of RBI for:
• Retail Payments
• Settlement Systems
• Bring innovations through technology for greater efficiency
• APB (Aadhar Payment Bridge)
• RuPay
• UPI
• NETC (FastTag)
• NFC (Near Field Communications)
• Hello!UPI (for IoT devices)
#Fueling fintech innovation for robust business growth

3. #DigitalPayments karo #ChutkiBajake
• Real-time system with seamless and instant
bank transfers
• Only payment system that allows you or
online merchants to request money by
sending a message,
• Minimise the hassle of depositing or
withdrawing cash
• Safe as the customers share only the virtual
address and provide no other sensitive
information
• UPI Logo depicts a fast forward button in
tricolour of the Indian Flag, which
symbolises a fast method of payment

4. Architecture of UPI

5. Protocol of Successful Transaction

6. Evolution and Growth of Indian Payment
System

7. Increasing Customer Preference towards
Digital Payments

8. Benefits for Businesses
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Increased
Tax
Compliance
The traceability of digital
transactions has aided in
reducing tax evasion and
increasing tax compliance
among businesses.
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Economic
Inclusion
UPI has played a crucial
role in financial inclusion,
bringing unbanked
segments of the population
into the formal banking
system

9. Scalability

10. Road-Map of Technological Support in
Scaling-up UPI

11. UPI Capturing India Digital Payment
Industry
73%
12%
5%
5%
3%
2%
2023
6%
56%
13%
7%
17%
1%
2018
15 Billion
114 Billion
Cards NACH NEFT IMPS UPI Others
01
INDIA CHANGING LANDSCAPE IN DIGITAL PAYMENTS
⮚Prior to 2010, digital transactions saw single-digit
growth. From 2010–2016, this figure rose to 28%
owing to the launch of faster payment modes in the
country and jumped to 56% in 2016–17 following
demonetization.
02
UPI DOMINANCE
⮚Start in 2016, UPI market share grow 12x from 2016-
2023.
⮚Robust Transactions and User-Friendly Interface
⮚Surging Internet Penetration Primary factor of UPI
Dominance
03
MARKET LEADER IN UPI INDUSTRY
⮚PhonePe and Google Pay Dominate UPI Industry
⮚Phone Pe Got Early Mover Advantage
⮚Both Companies has Wide Acceptance among
Merchants

12. How IS Shaping India UPI Business
Categories
Business Categories: Foray From Traditional to Advance Categories
Traditional Categories
New Advanced Categories
Water
Electricity Bills DTH
Credit Card Fast Tag Taxes Health & Life
Insurance
Gym
Auto Pay Introduction
Housing
Societies
Educational
Institutes
Mutual Funds
⮚ Transaction Processing : Information systems handle the processing of millions of transactions daily on the UPI platform.
⮚ User Support and Services : Information systems are designed with scalable architectures that can adapt to increasing
transaction volumes and user growth.
⮚ Real-Time Monitoring and Alerts: Information systems provide real-time monitoring and alerts to detect and respond to
any issues or anomalies on the UPI platform.
⮚ Security and Fraud Detection: Information systems implement robust security measures and fraud detection mechanisms
to protect UPI transactions and user data.

13. Upcoming Innovation in UPI
Biometric
Authentication
• Incorporate Technology like fingerprint, facial
recognition
• This will add extra layer of security, make transaction
more faster and secure
Voice
Enabled
• Voice Recognition Technology
• Enhance user experience and accessibility for specially
abled individuals as well
Wearable
devices
• Eliminating the needs of smartphones
• With build-in capabilities, devices allow swift and
contactless transactions

14. Upcoming Innovation in UPI (cont.)
International
Remittances
• Recognition and adoption globally, may enable cross
border transaction
• More fast and reliable to methods like wire transfer
Open Bank
Integration
• Access account Info of various bank via single UPI
Interface
• Helps user to efficiently manage the finances
Block Chain
Integration
• This Technology will offer immutability, real-time
verification and enhanced privacy
• Ensuring trustless and tamper proof payment system