UPI is still finding its feet and the number of transactions under UPI stood at 26 million in Q1 of the fiscal year.
The target was to hit 40 million transactions (data source: NPCI).
What can potentially propel UPI?
For sure, not banks. They haven't taken up the opportunity yet and will be slow in doing so.
Companies like Google, FB, WhatsApp will drive UPI adoption - it is just a matter of time.