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The Economic Times

Economy / The Economic Times

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UPI no challenge to Mastercard, has expanded digital payments: Exec

Mastercard India head Gautam Aggarwal sees UPI as a complementary system. UPI has educated consumers and expanded the digital payments market significantly. India possesses the world's largest digital payments ecosystem in absolute terms. Mastercard invests heavily in cybersecurity to ensure user convenience and security. A strong regulatory framework and consumer education are vital for continued growth.

6 Aug 2026 2:43 pm