"upi-transactions"

UPI has emerged as the world's largest retail fast-payment system by transaction volume, according to an IMF report. As transactions surge, India is considering merchant charges to support long-term sustainability, while UPI's growing international presence expands digital payment cooperation

India’s credit card spending growth slowed in August, with HSBC and Jefferies flagging muted momentum and profitability pressures. Card additions rose 10.3 per cent year-on-year, while UPI continued to dominate digital payments amid changes to the merchant discount rate framework

Traders across Madhya Pradesh observed a ‘No UPI Day’ on Wednesday by covering shop QR codes with black cloth and urging customers to pay in cash. They are protesting a proposed 0.4 per cent merchant discount rate on UPI transactions above Rs 2,000

India’s digital commerce has boomed as annual UPI transactions skyrocketed past 24,162 crore. Backed by the JAM Trinity, DigiLocker, and GeM, the nation’s digital public infrastructure has secured massive financial inclusion, transferring over ₹51 lakh crore directly to citizens

India's digital payments ecosystem continued its strong growth trajectory in May, with UPI transaction volumes rising 24 per cent year-on-year to 23.2 billion. Transaction value touched Rs 29.9 lakh crore, while UPI expanded its presence across multiple international markets.

UPI accounted for 85.5 per cent of India’s digital payment transaction volume in H2 2025, according to the RBI. While RTGS dominated transaction value, India’s digital payments ecosystem recorded massive growth over the last decade, driven by smartphones and cashless infrastructure

Broad exemptions, delayed implementation, and weak oversight raise doubts about whether India’s Digital Personal Data Protection Act can truly protect privacy

Governor Sanjay Malhotra said the central bank is examining a proposal to allow lenders to remotely lock mobile phones bought on credit in case of default in EMI payments; rules out any charge on UPI transactions

Chief Economic Adviser V Anantha Nageswaran said urban demand may be stronger than reflected in official data, citing UPI growth and SME spending. He projected FY26 growth at 6.3–6.8 per cent and emphasised the need for innovation to sustain exports

UPI recorded over 20 billion transactions in August for the first time, marking 34 per cent annual growth. Daily transactions averaged 645 million, with Maharashtra leading in digital payments, highlighting India’s rising adoption of cashless transactions, according to NPCI and SBI data.

Average daily UPI transactions in India reached Rs 90,446 crore in August 2025, with SBI as the top remitter. Peer-to-merchant payments surged, groceries dominated volume, and digital payments increasingly replaced cash, reflecting robust growth and financial inclusion, according to SBI Research.

The Centre clarified in Parliament that it is not considering GST on UPI transactions over ₹2,000. Karnataka’s GST notices to traders were issued by the state’s Commercial Tax Department, not the Centre, Minister Pralhad Joshi asserted, accusing the state of misleading the public

India leads the world in fast payments, with UPI processing over Rs 24 lakh crore in June 2025 alone. Backed by the IMF, the system handles over 640 million daily transactions, revolutionising global digital payments and promoting financial inclusion

From June 16, UPI payments will process faster, completing within 10–15 seconds. NPCI also set a 50-times daily limit for balance checks and tightened beneficiary name rules to boost security and user experience in India’s growing digital payment space

Merchant Discount Rate is the cost paid by a merchant to a bank for accepting payment from their customers via digital means. Finance Ministry’s clarification comes following reports that the government is planning to impose MDR on large-ticket UPI transactions

The Unified Payments Interface (UPI) has posted a robust recover in the month of May by processing 18.68 billion transactions, up from 17.89 billion in April

The multi-dimensional analytical tool, developed as part of the Digital Intelligence Platform (DIP), empowers financial institutions with advanced actionable intelligence for cyber fraud prevention

Once thriving, kiosks exchanging damaged currency now dwindle, as digital payments reduce cash use

The charges are imposed on bill payments such as electricity and gas bills made using the platform. The fee ranges from 0.5% to 1% plus GST

The immense popularity of UPI is seen from transaction volume ratio which stands at 38.4 times of credit card transaction volumes, according to the report by Axis Securities