{"id":388740,"date":"2026-04-12T20:05:15","date_gmt":"2026-04-12T20:05:15","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/388740\/"},"modified":"2026-04-12T20:05:15","modified_gmt":"2026-04-12T20:05:15","slug":"upi-10-years-cred-founder-kunal-shah-hails-staggering-growth-in-india","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/388740\/","title":{"rendered":"UPI 10 years CRED founder Kunal Shah hails staggering growth in India"},"content":{"rendered":"<p class=\"new_font\">As India marks a decade of the Unified Payments Interface, Kunal Shah, Founder of CRED, reflected on the platform\u2019s exponential growth, calling its journey a \u201cstaggering run\u201d that has transformed the country\u2019s payments ecosystem.<\/p>\n<p class=\"new_font\">CRED&#8217;s <a href=\"https:\/\/storyboard18.com\/brand-makers\/creds-kunal-shah-flags-indias-blind-spots-in-time-value-and-female-workforce-72410.html\" rel=\"nofollow noopener\" target=\"_blank\">Kunal Shah<\/a> took to LinkedIn and wrote: <\/p>\n<p class=\"new_font\">&#8220;It\u2019s 10 years to UPI today. What a staggering run this has been.<br \/>\nApprox 450M monthly users<br \/>\nApprox 250M daily users.<br \/>\nApprox 100M new autopay mandates setup<br \/>\nApprox 500M autopay debits a month.&#8221;<\/p>\n<p class=\"new_font\">\n<p class=\"new_font\"><a href=\"https:\/\/storyboard18.com\/brand-marketing\/excellence-is-not-a-culture-yet-in-india-cred-founder-kunal-shah-66928.html\" rel=\"nofollow noopener\" target=\"_blank\">CRED <\/a>founder Kunal Shah\u2019s post highlights the sheer scale UPI has achieved over the past decade, with hundreds of millions of users transacting daily and autopay emerging as a significant use case, reflecting deeper integration into consumers\u2019 financial habits.<\/p>\n<p class=\"new_font\">Launched on April 11, 2016, by the National Payments Corporation of India as a pilot, UPI was designed to enable seamless, real-time bank-to-bank transfers. Its early growth was driven by platforms like PhonePe, introduced in August 2016, followed by the government-backed BHIM app launched by Narendra Modi in December 2016 to accelerate adoption.<\/p>\n<p class=\"new_font\">Over the years, <a href=\"https:\/\/storyboard18.com\/digital\/how-upi-transformed-indias-payments-landscape-in-10-years-94829.html\" rel=\"nofollow noopener\" target=\"_blank\">UPI has evolved <\/a>into the backbone of India\u2019s digital payments ecosystem, facilitating transactions across use cases\u2014from small street vendors to large-scale retail businesses. While cash continues to coexist, UPI has significantly advanced financial inclusion and digital adoption across the country.<\/p>\n<p class=\"new_font\">According to a report by Moneycontrol, UPI has scaled rapidly from processing transactions worth \u20b921 lakh crore in FY20 to handling nearly \u20b930 lakh crore in a single month recently, underlining its explosive growth trajectory.<\/p>\n<p class=\"new_font\">As the platform enters its second decade, the focus is expected to shift towards expanding its user base to one billion people and enabling credit access for up to half a billion users, further strengthening its role in India\u2019s digital economy.<\/p>\n<p>First Published on\u00a0April 11, 2026, 21:08:26 IST<\/p>\n","protected":false},"excerpt":{"rendered":"As India marks a decade of the Unified Payments Interface, Kunal Shah, Founder of CRED, reflected on the&hellip;\n","protected":false},"author":2,"featured_media":388741,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[85,46,321,125],"class_list":{"0":"post-388740","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-mobile","8":"tag-il","9":"tag-israel","10":"tag-mobile","11":"tag-technology"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/388740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=388740"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/388740\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/388741"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=388740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=388740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=388740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}