The development of digital payments and government attempts to support a cashless economy have significantly changed the payments landscape in India in recent years. The Unified Payments Interface (UPI), which allows for immediate money transfers and bill payments, and the supplier of digital wallets Paytm are the two main competitors in the field of digital payments. Google Pay and PhonePe are two further competitors. Additionally, the Indian government has started a number of programs to promote digital payments, including the National Payments Corporation of India (NPCI), which runs UPI, and the Bharat Interface for Money (BHIM) app. India continues to see an increase in the use of digital payments, which is largely due to convenience, better security, and rising internet and smartphone penetration.