Diwali 2023: How UPI is revolutionising digital payments this festive season

Diwali 2023: The festive season is already here, and the Made in India UPI is expected to be a big help due to its global expansion. In India, UPI has already completely revolutionized digital payments. Experts believe that the growth of the Unified Payments Interface (UPI) will help customers and businesses in various ways.

“UPI is not just a payment system, it is a revolution that connects India to the world. This festive season, let’s celebrate the power of UPI and the opportunities it brings to us and our loved ones across the globe,” said Amit Nigam, Executive Director & COO, BANKIT.

Shikhar Aggarwal, Chairman, BLS E-Services listed three ways in which UPI will help customers during this festive season.

1) First of all, UPI provides a practical and safe way to make payments, making it easy to buy gifts, clothes and other festive necessities. “It is a recommended choice because of its strict security measures, ease of use, and quick transfer possibilities,” said Shikhar Aggarwal.

2) Secondly, UPI’s global presence facilitates international money transfers and gifts, enabling people to do business across borders. “It allows them to stay in touch with their relatives back home during the festivities, which is very beneficial for the Indian diaspora,” Aggarwal said.

3) According to BLS E-Services chairman, companies can leverage the global benefit of UPI to reach wider customers and enable smooth cross-border transactions. This creates a chance for them to reach a wider audience and increase income.

In short, UPI’s global rollout is expected to improve the Christmas season by making payments more manageable, facilitating international transactions, and creating more business opportunities.

The five-day festival of Diwali lasts not just five days but almost the entire week. Dhanteras (Dhanvantari Trayodashi) is the first day of Diwali week, marking the official start of the sparkling festival of Diwali, followed by Narak Chaturdashi, also known as the Choti Diwali. The real Diwali is celebrated on the third day. On this day, people worship Goddess Lakshmi and Lord Ganesha. Govardhan Puja, the fourth day is celebrated in different ways in India. The fifth day is celebrated as Bhai Dooj or Bhai Beej Day.

Disclaimer: The opinions and recommendations made above are the opinions of individual analysts, and not those of Mint. We encourage investors to check with certified experts before making any investment decision.

Milestone Alert!Livemint tops the charts as the fastest growing news website in the world 🌏 Click here for more information.

Get the latest Business News, Market News, Breaking News Events and News Updates on Live Mint. Download the Mint News App for Daily Market Updates.


Updated: 09 November 2023, 12:43 PM IST

Denial of responsibility! vismuseum.org.in is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – at loginhelponline@gmail.com The content will be deleted within 24 hours.

Read original article here

Leave a Comment