How UPI Is Giving E-payments a Run for Their Money

“The growing popularity of UPI can be attributed to its simple, safe, cost-effective and mobile-based payment system. Companies such as Paytm, PhonePe, MobiKwik and GooglePay, along with 144 banks, also offer payments via UPI, which surpassed mobile wallet payments in terms of volume of transactions as well as value. There were 384.89 million mobile wallet transactions worth ₹15,990 crore in March, compared to 799.54 million UPI transactions worth ₹1.33 trillion during the same month. As their awareness and comfort increase, people are moving towards UPI to carry out high-value transactions.”

How UPI Is Giving E-payments a Run for Their Money
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