According to the trend, the value of online financial transactions in India climbed by 10.5 percent between December 2019 and December 2020. According to a joint report by market research firm WorldPay, digital wallets will account for 39.7% of India’s e-commerce payments in 2020, making them the country’s biggest online payment method. UPI-based digital transactions climbed 110 percent in volume and 109 percent in value between June 2020 and June 2021, according to EY statistics. If current trends continue over the next few years, UPI’s contribution to the nation’s total digital payments industry will expand dramatically. If UPI payments continue to rise at their current rate, the country’s total target of 30 billion transactions could be met in the near future.