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  • UPI Most Preferred Mode for Digital Payments in India in 2022; 87.92 Billion Transactions Processed: Report

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    In India, payment modes like UPI, debit and credit cards, and prepaid payment instruments — Mobile and Prepaid cards —processed 87.92 billion transactions worth Rs. 149.5 trillion during 2022, according to a new report. In terms of UPI, Person-to-Merchant (P2M) and Person-to-Person (P2P) are the most preferred payment modes among consumers with a market share […] More

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    RBI Proposes Expanding Reach of UPI to Allow for Credit via Pre-Approved Bank Lines

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    The Reserve Bank of India (RBI) is proposing expanding the reach of the popular Unified Payments Interface (UPI) digital payments system by allowing credit to be offered via pre-approved bank lines. “This initiative will further encourage innovation,” RBI governor Shaktikanta Das said on Thursday during the announcement of the central bank’s monetary policy decision. UPI […] More