From UPI to Web3: How India’s fintech wave is reshaping the future of payments

India’s fintech sector is accelerating at breakneck speed, with digital payments becoming the new default across metros and smaller cities alike. From kiranas in Hyderabad to kiosks in Chandigarh, retailers are embracing cashless transactions, signaling a deep behavioral shift. Alongside UPI’s record-breaking volumes, new RBI regulations, and a growing appetite for cryptocurrencies, the landscape is evolving into one of the world’s most dynamic digital economies.

Fintech is forging ahead in India. And why not. According to a survey called “How India Pays”, by NeoGrowth, a fintech NBFC, 74% of retail spends in top cities are digital, signaling a shift in the way India pays.

Hyderabad (82%), Bengaluru (79%), and Pune (79%) lead the top-city rankings, while Visakhapatnam (76%), Nagpur (71%), and Chandigarh (68%) dominate beyond metros. Ahmedabad (60%), Kolkata (55%), Jamshedpur (54%), Madurai (52%), and Rajkot (48%) show comparatively lower levels of digital adoption, highlighting the diversity ...