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The Economic Times

Mastercard says UPI complements digital payments ecosystem, not a competitor

Mastercard UPI India Cybersecurity

Mastercard views the Unified Payments Interface (UPI) as a complementary platform that has accelerated the adoption of digital payments in India, rather than as a competitor, Gautam Aggarwal, Division President for South Asia and Country Corporate Officer, India, Mastercard, said on Thursday.

Speaking to ANI on the sidelines of the 3rd India International FinTech Festival 2026 organised by ASSOCHAM, Aggarwal said Mastercard considers India's homegrown payment system an enabler that has significantly expanded the country's digital payments ecosystem.

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