Indian payments chief thinks AI will be heavily involved in next era of digital payment growth
What's happening
Dilip Asbe, head of India's UPI ecosystem, says AI will play a major role in the next era of digital payment growth and that newer UPI apps could become more competitive if they adopt a viable commercial model. Separately, NPCI is partnering with JP Morgan Payments to enable real-time FX conversion and settlement over UPI, marking a push into real-time cross-border payments. The broader context includes India's drive to expand UPI and RuPay for regional financial integration and the RBI's Payments Vision 2028 roadmap to strengthen the country's digital payments ecosystem.
Why it's trending
Multiple announcements and partnerships (UPI-NPCI-JP Morgan, Payments Vision 2028) plus executive comments on AI are converging to signal the next phase for Indian payments now.
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If you think payments scale is just about rails and user growth, you're missing the next battleground: AI-driven commercial models for UPI apps, and incumbents may lose if they ignore it.
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Original sources6
- JP Morgan Payments and NPCI team up to power real-time FX for cross-border UPI
National Payments Corporation of India is working with JP Morgan Payments to enable real-time currency conversion and settlement of cross-border transactions over the Unified Payments Interface.
FinextraJul 1 - RBI announces its ‘Payments Vision 2028’, outlining roadmap to strengthen & expand India’s rapidly growing digital payments ecosystem | Akashvani NewsNews On AIRJun 30
- India's UPI Chief Sees AI as Key to Next Payment WaveThe Tech BuzzJun 28
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