Growth of UPI Transactions in India: A Digital Revolution (2016-2024) A Study of India's Digital Payment Security Challenges

This research paper investigates the fast growth of the Unified Payments Interface (UPI) in India during 2016-24 and how UPI revolutionised digital payments to enable quick, secure, and easy money transfers. Major growth trends such as transaction volume, geographical operational area, and integration with global payment systems get discussed therein, along with this growth story, concerns regarding digital payment frauds, scams, and user vulnerability surface. It further analyses the measures taken by the Government of India, the RBI, and the National Payments Corporation of India (NPCI) for addressing these threats. In conclusion, the study presents recommendations for improving user awareness and safer digital payment mechanisms for inclusive and safe development.