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India has seen a rapid growth in digital payments due to technological advancements, favourable government policies, increased internet and smartphone usage, and the rise of e-commerce. UPI has been the major driver of this growth, recording 10.58 billion transactions in August 2023, the highest ever. As per a PwC report, UPI is projected to account for 90% of the total transaction volume in retail digital payments by 2027. Blockchain and AI are being used to enhance digital payment security, with data protection and better insights being the main use cases.