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In India, the digital payment landscape has been revolutionized by local products like UPI （Unified Payments Interface）, which enables instant bank-to-bank transfers through mobile apps. UPI has gained massive popularity due to its simplicity, security, and interoperability across various banks. Another notable product is the Aadhaar-enabled Payment System （AePS）, which allows users to perform basic banking transactions using their Aadhaar number and biometric authentication. Additionally, mobile wallets such as Paytm, PhonePe, and Google Pay have become integral to everyday transactions, offering features like bill payments, recharges, and peer-to-peer transfers. These products have significantly enhanced financial inclusion and convenience for millions of Indians, reducing reliance on cash and traditional banking methods. |
