Ann: Zip makes strategic move into India, page-280

For those that doubt why would ZIP invest in India. Digital India is growing and that to the tune of hundreds of billion in digital transaction a month.

The National Payments Corporation of India (NPCI)'s flagship payments platform has crossed the $100 billion mark.The platform announced this week that its Unified Payments Interface (UPI) recorded 4.2 billion transactions in October, amounting to around $103 billion, a record high on both accounts.

Earlier this year, the NPCI reported that about a third of all households in India were using digital payments, but noted that the figure could easily jump to more than 50%.

“While one of two of India’s richest 20% households use digital payments, as many as one out of four households in the poorest 40% also use it,” the NCPI report said.