Login

News on Medial

Digital payment via UPI spikes on person-to-merchant transaction growth: Report

Economic TimesEconomic Times · 1y
Digital payment via UPI spikes on person-to-merchant transaction growth: Report

In August, digital payments through the Unified Payments Interface (UPI) exceeded 10 billion transactions, primarily driven by Person-to-Merchant (P2M) transactions, according to a report by Worldline. UPI transactions have seen substantial growth from 151 million in January 2018 to 9.3 billion in June 2023. P2M transactions, accounting for 57.5% of all UPI transactions in June 2023, indicate the future growth of UPI. The report also noted a reduction in the average ticket size (ATS) for UPI P2M transactions, indicating increased use for microtransactions. Electronic Toll Collection (ETC) has seen significant adoption, with 56.5% growth in issued tags and increased transaction volumes and values.

View Source

Comments

More Like this

Razorpay sees surge in credit card-linked UPI payments: report

Razorpay sees surge in credit card-linked UPI payments: report

After UAE, NPCI launches UPI in Nepal; Users can san QR codes to make payments

After UAE, NPCI launches UPI in Nepal; Users can san QR codes to make payments

Now, Indians Can Pay Using UPI In Nepal

Now, Indians Can Pay Using UPI In Nepal

Processing charges a drag on fast-growing payments startups

Processing charges a drag on fast-growing payments startups

UPI transactions witnesses 118% rise at retail stores in 2023: PayNearby Report

UPI transactions witnesses 118% rise at retail stores in 2023: PayNearby Report

With new payment terminals, it’s ‘battle on’ between Pine Labs and Paytm

With new payment terminals, it’s ‘battle on’ between Pine Labs and Paytm

Cred launches offline QR code-based ‘scan and pay’ payments

Cred launches offline QR code-based ‘scan and pay’ payments

NPCI chief sets ambitious new target of 100 billion transactions per month

NPCI chief sets ambitious new target of 100 billion transactions per month

UPI transactions for August likely to have crossed 10-billion mark

UPI transactions for August likely to have crossed 10-billion mark

Amazon Pay India bats for fair MDR on UPI payments to small merchants

Amazon Pay India bats for fair MDR on UPI payments to small merchants

Download the medial app to read full posts, comements and news.