UPI Lite and wallet-based pay off to a slow start on zero-MDR bottleneck

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Over the past few years, the National Payments Corporation of India (NPCI) has introduced multiple features—UPI Lite, wallet-based payments, recurring payments via UPI, UPI through RuPay credit cards and UPI Circle. These features are aimed at reducing banking system load for small transactions and enhancing network efficiency.

Yet, only recurring payments and credit cards on UPI have shown notable growth. The rest struggle to gain traction due to limited adoption.

“Across both wallet-based UPI payments and UPI Lite, around 100 million transactions…



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UPI Lite and wallet-based pay off to a slow start on zero-MDR bottleneck


Over the past few years, the National Payments Corporation of India (NPCI) has introduced multiple features—UPI Lite, wallet-based payments, recurring payments via UPI, UPI through RuPay credit cards and UPI Circle. These features are aimed at reducing banking system load for small transactions and enhancing network efficiency.

Yet, only recurring payments and credit cards on UPI have shown notable growth. The rest struggle to gain traction due to limited adoption.

“Across both wallet-based UPI payments and UPI Lite, around 100 million transactions…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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