New Delhi, Dec. 3 -- It's been nearly 10 years since the Unified Payments Interface (UPI) arrived in the Indian market and revolutionized how Indians make everyday payments.

More than 636 million UPI payments worth nearly Rs.82,000 crore were made on an average day in November.

The number of transactions has been rising every month. The past five years have seen average daily transactions grow six times in value and eight times in volume.

This makes UPI the most widely used payment channel, clocking 20 billion transactions in a month, nearly double this year. No other major payment method comes even halfway.

In terms of value, it's second only to the National Electronic Funds Transfer (NEFT). However, while NEFT payments have doubled ...