Close Menu
Soup.io
  • Home
  • News
  • Technology
  • Business
  • Entertainment
  • Science / Health
Facebook X (Twitter) Instagram
  • Contact Us
  • Write For Us
  • Guest Post
  • About Us
  • Terms of Service
  • Privacy Policy
Facebook X (Twitter) Instagram
Soup.io
Subscribe
  • Home
  • News
  • Technology
  • Business
  • Entertainment
  • Science / Health
Soup.io
Soup.io > News > Entertainment > How UPI Changed the Online Gaming Market in India
Entertainment

How UPI Changed the Online Gaming Market in India

Cristina MaciasBy Cristina MaciasFebruary 9, 2022No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
How UPI Changed the Online Gaming Market in India
Share
Facebook Twitter LinkedIn Pinterest Email

India’s Unified Payments Interface, or UPI, was released in 2016 as a national payments system that required no fees and transferred funds instantly. While initial adoption was slow as banks took time to update their infrastructure, the system has completely revolutionized the country’s digital payments interface.

One of the several industries that profited from the country’s improved payment infrastructure was iGaming.

UPI and Online Casinos in India

While unregulated, online casinos are legal in most states of India, as long as their operating companies are not located within the country and as long as they accept the Indian Rupee as the playing currency.

One of the major challenges faced by online casinos in India was providing a seamless and fast payment method to Indian customers. Most of the options provided before included third-party applications like e-wallets which allowed the company and players to comply with the financial regulations.

As it started becoming a commonly-used system, many online casinos in India incorporated UPI into their payment methods. This allowed them to enable instant and free transfers for Indian customers. With no obstacles left in transferring funds, online casinos could provide a much easier and seamless user experience, and ideally gain more customers because of it.

Not just Online Casinos but Everything Digital

Naturally, iGaming is only a small part of the UPI success story. The payment interface system has also led to the growth of the digital economy in India and allowed many segments like food delivery, financial services, and media services to flourish.

As per a recent statistic, UPI processes up to 100 million transactions every day and is a vital part of the growing digital ecosystem in India. Additionally, the average transaction value is only Rs 1,800 which shows that it is mostly used for small, quick transactions across the country.

How UPI Works

UPI was created by the National Payments Corporation of India (NPCI) and is regulated by the Reserve Bank of India (RBI). It leverages the IMPS system of payments and builds upon it to provide instant and free transactions 24×7 to its users. The technology is being actively developed since its initial release, and also served as inspiration for USA’s FedNow payment system.

Digital India and Online Casinos

The main challenge faced by online casinos in India today is the regulatory uncertainty, and it doesn’t seem like it will go away anytime soon. However, with the development and implementation of digital infrastructure like UPI, the adoption of online services will only grow in the coming future. Coincidently, the iGaming industry has also been growing at a steady rate over the last couple of years in the country.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleFree or Paid: Best Data Recovery Software in 2022 (Windows/Mac)
Next Article How To Identify Workplace Health and Safety Risks
Cristina Macias
Cristina Macias

Cristina Macias is a 25-year-old writer who enjoys reading, writing, Rubix cube, and listening to the radio. She is inspiring and smart, but can also be a bit lazy.

Related Posts

Sherlock Gnomes Blu Ray: What You Need to Know

July 6, 2025

Bloodline Detectives TV Show: Season Four Highlights Revealed

July 6, 2025

Fantastic Beasts 3 Blu-Ray: Secrets of Dumbledore

July 5, 2025

Subscribe to Updates

Get the latest creative news from Soup.io

Latest Posts
Sherlock Gnomes Blu Ray: What You Need to Know
July 6, 2025
Tubi Revenue: Navigating Digital Media Growth with Tubi
July 6, 2025
Bloodline Detectives TV Show: Season Four Highlights Revealed
July 6, 2025
Claude vs ChatGPT vs Gemini – Which AI Passes as Human in 2025? We Put Them to the Test
July 6, 2025
Fantastic Beasts 3 Blu-Ray: Secrets of Dumbledore
July 5, 2025
Mickey 17 Projected Box Office: Box Office Success
July 5, 2025
5 Leading AI-Powered Article Generation Platforms
July 5, 2025
5 Premier Omnichannel Business Communication and Automation Platforms
July 5, 2025
The Psychology Behind Gaming Machine Design
July 5, 2025
Shared Joy: Socialization for Dogs & People
July 5, 2025
How I Used ChatGPT to Stay Relevant While Everyone Else Was Getting Replaced by AI
July 5, 2025
I Fired My Copywriter – This GPT Prompt Writes 100% Human Content That Passes Every Test
July 4, 2025
Follow Us
Follow Us
Soup.io © 2025
  • Contact Us
  • Write For Us
  • Guest Post
  • About Us
  • Terms of Service
  • Privacy Policy

Type above and press Enter to search. Press Esc to cancel.