[jeswin]

Thanks unmole for correcting these numbers. (Too late to edit now). - Nov 2022 is 140B (accurate) - Oct 2016 was 150m not 1.5B (incorrect) - Nov 2016 was 1B not 10B (incorrect)

The point still stands. UPI grew 600% in Oct-Nov 2016, and 10-20% per month afterwards - to reach 140B as of last month.

[jeswin]

Also, in India the dominant digital payments mode in 4Q 2016 was digitals wallets, not UPI. UPI was small fish, but rapidly grew to devour digital wallets (because you didn't have to preload money).

Damg, Sorry. Made a mistake again in the parent post: 150m = 15m, 1B = 100m^.