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RBI will propose a framework to compensate customers up to Rs 25,000 for losses incurred in small-value fraudulent transactions, Governor Sanjay Malhotra said on Feb 6
Over 90 percent of all digital gold purchases in the country happen through UPI.
The UPI transaction value growth has already dropped to 13 percent even though volume growth remains robust at around 28 percent
To promote the adoption of digital payments, the government mandated that UPI transactions remain free for users, and in return, it will compensate payment firms for the costs they bear to facilitate them
The platform is now embedded across grocery purchases, fuel payments, dining, local mobility, bill payments and a widening range of low-value merchant transactions.
After a sharp shortfall in government compensation last year, payment firms are urging the Finance Ministry to hike the UPI subsidy and consider bringing back MDR for large merchants to sustain ecosystem growth.
In December, PhonePe processed close to 10 billion transactions worth over Rs 13.6 lakh crore through UPI platform
Banks are now letting borrowers pay through UPI using pre-approved credit, offering a simpler alternative to cards for everyday spending.
A wrong tap or a moment’s distraction can wipe out your account in seconds. The difference between getting your money back and losing it often depends on what you do in the first hour.
The drop is partly tied to POP's decision to dial back cashback incentives that were deployed aggressively during the festival season to spur growth
super.money said that it prioritises quality over quantity and it has one of the highest revenue per user among the top five UPI apps
Newer UPI apps, Sachin Bansal-led Navi and Flikart Group’s super.money, along with NPCI’s subsidiary BHIM app, has gained market share over the last couple of years
Money has moved online faster than inheritance laws have caught up.
Merchants are prioritising UPI Autopay over cards despite lower success rates, betting on its scale, lower costs and strong user adoption. As recurring payments surge, even partial execution through UPI Autopay delivers more value than higher-success but limited card mandates
The notable exception to this trend was credit and debit card spending, which is online sales driven. The card spending has also been hit by UPI's popularity, which also hit record highs in December
Digital payments hit 21.6 billion transactions and Rs 28 lakh crore in a single month, underscoring UPI’s role as India’s default retail payment rail
Paper-based instruments such as cheques now represent just 2.4 percent of transaction value.
Tobacco kiosks see fastest rise in transaction volumes as UPI embeds itself in low-value spending
The age of cashless convenience is over. The coming year will test who really owns India’s payment rails.
When a UPI payment fails or lands in the wrong place, the fastest fix usually comes from knowing the exact path to follow and the timelines banks are expected to meet.
Peers PhonePe and Paytm also have co-branded Rupay credit cards that can be linked to UPI for merchant payments.
MoUs on renewable energy, water management, digital public infrastructure and cultural exchange signed during Modi's first visit to Jordan, as two sides mark 75 years of diplomatic ties
A practical look at how families can protect themselves as UPI becomes the default way to pay for everything from groceries to school fees.
The mobile payments platform also recorded transactions worth over Rs 1 lakh crore for the first five consecutive days during the month
A simple explainer on the two short-term credit options and how they affect your spending and repayments.
